Manulife launches new product

Manulife Philippines has launched recently the Affluence Builder, an investment-linked product, which combines the benefits of investment, savings, and comprehensive life insurance protection, in a single policy.

“We know that policyholders are looking for a product that provides not only optimum protection, but also maximum return potential,” Carl Gustini president and chief executive officer of Manulife Philippines, said. 

A regular pay, variable universal life (RPVUL) insurance product, Affluence Builder is the latest addition to the company’s Affluence family of variable life offerings. Variable universal life insurance is a type of savings product in which a portion of the premium is invested in various funds. 

Manulife offers several investment options to enable policyholders to reap the highest possible returns.

One is the Peso Bond Fund for stable and long-term growth by investing in government securities and high-quality corporate debt securities, or pooled funds that invest in these securities and other liquid fixed income instruments.

 Another option is the Peso Equity Fund, which is designed to accomplish long-term capital appreciation by investing in stocks listed on the Philippine Stock Exchange (PSE) and government securities, or pooled funds that invest in these securities and other liquid financial instruments. 

Other investment vehicles include the Peso Stable Fund or combined investments in government securities, high quality corporate debt securities, and stocks listed on the PSE, or pooled funds that invest in these securities and other liquid instruments; and the US Dollar Bond Fund or investments in US dollar-denominated sovereign and corporate debt securities. 

Affluence Builder allows for partial withdrawals against accumulated funds when the policyholder needs the money.  It also provides a fund switch mechanism that enables policyholders to re-allocate funds to take full advantage of changes in the financial markets. 

“By developing products that offer real value to our customers, and consistently demonstrating financial strength and stability, we continue to enjoy the trust of policyholders,” Gustini added. 

Affluence Builder is offered by Manulife Philippines, a part of Manulife Financial Asia, which was named Life Insurance Company of the Year at the Asia Insurance Industry Awards 2007 in Singapore.

Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide.  Funds under management by Manulife Financial and its subsidiaries were C$396 billion ($401 billion) end 2007.          — TPT