Manulife exhibits Affluence

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

“Affluence Builder was developed in response to Filipino investors’ evolving needs.  We know that policyholders are looking for a product that provides not only optimum protection, but also maximum return potential.  So that is what we are giving them,” Manulife president and chief executive officer Carl Gustini 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.

Financial flexibility is a key feature of the latest product. Variable universal life insurance is a type of savings product in which a portion of the premium is invested in various funds.

“We give policyholders the opportunity to invest in a variety of portfolios, which are professionally managed by our financial experts, to suit their protection and investment objectives,” Gustini said.

Part of the company’s broad range of investment options is the Peso Bond Fund, which seeks to achieve 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 designed to accomplish long-term capital appreciation by investing in stocks listed on the Philippine Stock Exchange and government securities, or pooled funds that invest in these securities and other liquid 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.

Apart from offering optimal returns, 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 who are confident that their financial security goals will be achieved,” Gustini explained.

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. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the financial giant 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$396 billion ($401 billion) end December 2007. Manulife Financial is one of two publicly traded life insurance companies in the world whose rated life insurance subsidiaries hold Standard & Poor’s Rating Services’ highest “AAA” rating.