2010 Communiqués de presse

CriticalCare addresses financial protection needs for 47 serious medical conditions

Manila - Manulife Philippines has launched a new comprehensive critical illness insurance product aimed at meeting the financial protection needs of Filipinos in the event of serious health contingencies.  CriticalCare, a single-pay insurance product, is designed to help ease the burden of individuals and their families in coping with critical illnesses, such as heart diseases and cancer.

“It is difficult enough to deal with critical illness without having to worry about the financial stress,” said Indren Naidoo, President and Chief Executive Officer, Manulife Philippines.  “Manulife’s CriticalCare is devised to give vital financial support when most needed, allowing the insured to focus on treatment and recovery.”

The new insurance reflects the top causes of death for Filipinos.  According to Department of Health data, critical illnesses top the list among the leading causes of deaths in the Philippines.  From 2000 to 2005, heart diseases, vascular diseases and cancer – all considered critical illnesses – were the top three causes of deaths in the Philippines.

“Manulife’s CriticalCare pays for critical illness expenses not covered by other plans.  You are given the freedom to use the benefits to pay for some or all hospital charges and professional fees.  It can help pay for unexpected expenses such as laboratory tests, treatments, medication and consultations.  It may even be used to replace part of your lost income,” said Naidoo.

CriticalCare covers these three prevalent health conditions as well as 44 other conditions, including stroke, kidney failure, chronic relapsing pancreatitis, end-stage lung disease, coma and even Alzheimer’s disease and bacterial meningitis, among others.

It features a guaranteed accelerated critical illness benefit, once diagnosed with a critical illness.

Atop guaranteed medical benefits, CriticalCare also has guaranteed life insurance protection; a guaranteed living benefit equal to 50% return of premium; and the option to renew the insurance coverage at the end of the 5-year coverage period, subject to certain conditions.

About Manulife
The Manufacturers Life Insurance Company opened its doors for business in the Philippines in 1907. Since then, Manulife’s Philippine Branch and later The Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife Philippines) has grown to become one of the leading life insurance companies in the country.  Manulife Philippines is a wholly-owned domestic subsidiary of Manulife Financial Corporation, among the world’s largest and North America's largest life insurance company by market capitalization (as of September 30, 2009).

Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers customers a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners.  Funds under management by Manulife Financial and its subsidiaries were Cdn$437 billion (US$407 billion) as at September 30, 2009.

Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

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Media Contact:
Shyla Reyes                                                                             Lils Liwanag
M2.0 Communications                                                               Manulife Philippines
332-1031/476-6643 local 103/104                                            884-5416
shyla.reyes@m2comms.com                                                    lils_liwanag@manulife.com