2010 Communiqués de presse

Shanghai – In the aftermath of the global financial crisis, people are increasingly seeking flexible financial products that combine capital preservation with long-term capital growth for goals such as funding education and retirement. 

Manulife-Sinochem recently launched a new generation of composite insurance and wealth management products called “Double Golden Fortune” to meet those needs. The products combine capital preservation, growth, early reimbursement, educational funding reserves and a pension with the additional feature of company profit-sharing, providing an effective way to accumulate, preserve and grow wealth. 

“Double Golden Fortune” offers two plans, A and B, to cater to different client needs. For plan A, the premium payment period is 20 years and on the 4th year after policy inception, the policy-holder is entitled to receive 10% of the insured amount. Afterwards the policyholder will be entitled to receive an increasing amount every 3 years, up to 25% of the insured amount. Last but not least, the insured will be paid 5 times the insured amount upon his or her 80th birthday as a birthday gift. 

The main feature of plan B is a short premium payment span and quicker payback. The premium payment period will be 8 years. Upon the 3rd year after inception and for every period of 3 years thereafter, the policy-holder will be entitled to receive 4.5% of the insured amount. Starting the 12th year, the policyholder will receive 4.5% of the insured amount annually and lastly, twice the insured amount upon his or her 80th birthday. 

Feature 1: “Double Golden Fortune” for your children’s future 

To help parents prepare for their children’s future financial needs for education, “Double Golden Fortune” offers quick pay-back or guaranteed and flexible reimbursement with payments continuing till the 80th birthday of the child. 

Parents could choose plan A to receive incremental payments (up to 25% of the insured amount) or plan B which has a shorter premium and pay-back span. 

“Double Golden Fortune” is especially suitable as a child’s growth fund, meeting the financial needs along the growth and educational path of the child. When the child has grown up, the parents could deposit and accumulate the coupon until a future one-time reimbursement for special needs such as overseas education, starting a business, marriage or a down payment for a new home. If the accumulation lasts until the child’s retirement, the accumulated amount will become a pension for a comfortable post-retirement life for the child.

 Feature 2 – “Double Golden Fortune” for a comfortable retirement 

Middle class clients with a steady income can use “Double Golden Fortune A” as a supplemental pension. After 20 years of premium payments, the accumulated deposit from periodic coupons, cash dividends and compound interest will create a comfortable nest egg. During retirement, every 3 years the policyholder may also receive an additional supplementary pension benefit until age 80. Upon the 80th birthday, the policyholder would receive a payment equaling 5 times the insured amount. 

For high income earners who would like to enjoy early retirement “Double Golden Fortune B” provides a wealth management option with a short premium payment span, long term gain, guaranteed reimbursement and capital preservation and growth. The plan ensures a fixed source of annual income after 12 years and makes possible a satisfying early retirement. 

Feature 3 – “Double Golden Fortune” effectively ensures inheritance of family wealth for the next generation 

Without effective long-term capital preservation and management, wealth accumulated by one generation may not make it through to the next. Through “Double Golden Fortune”, the triple requirements of capital preservation, growth and inheritance are realized through a single plan design that focuses on a child’s future benefits. 

The plan firstly enforces mandatory savings on the first generation (the client) while preserving and growing the funds. Secondly, the future educational or career needs of the second generation (the child) will be provided for by continual cash flows available from the plan. At the same time, the account is still growing due to compounding with yearly cash dividends and accumulated interest. Such return on the client’s original capital can be extended to provide for a third generation’s needs. 

“Double Golden Fortune” will (i) help ensure your wealth is protected yet growing, (ii) provides you a continual yet reliable cash flow stream, and (iii) offers a special bonus upon your 80^th birthday.

About Manulife-Sinochem

Manulife-Sinochem is a joint venture company between Manulife (International) Limited and the China Foreign Economy and Trade Trust Company (a member of the Sinochem group). It was the first Chinese-foreign joint-venture life insurance company established in China. Manulife-Sinochem began operations in November 1996. To date it has over 11,000 professionally trained agents and employees, providing financial and insurance services to over 500,000 customers. The company is now developing steadily in nearly 40 cities including Shanghai and Beijing, and in provinces including Guangdong, Zhejiang, Jiangsu, Sichuan, Shandong, Fujian, and Chongqing Liaoning. With more than ten years’ successful experience, Manulife-Sinochem is committed to offering comprehensive insurance products combined with excellent customer service and professionalism.

Manulife-Sinochem can be found on the internet at www.manulife-sinochem.com 

About Manulife Financial

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 clients 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 $440 billion (US$420 billion) as at December 31, 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. 

About Sinochem

China Foreign Economy and Trade Trust Company (FOTIC) is a core enterprise of Sinochem. Sinochem is an important state-owned enterprise in China, with primary focus in the sectors of agriculture, energy, chemicals, finance and real estate. It is also one of the four largest state-owned oil companies in China and the largest fertilizer provider that manufactures, distributes and markets all varieties of fertilizers. Sinochem has been listed among the Fortune Global 500 companies 19 times and ranked 170th in 2009.

Sinochem can be found on the Internet atwww.sinochem.com. 

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