Manulife Philippines is now offering an investment-linked insurance product that is suited for people who want to capture the earnings potential of long-term investments with increased flexibility.
On Wednesday, Manulife launched the Affluence Builder Plus for investors to build up their funds for investments that can increase up to P100,000 yearly with the minimum premium payment of P5,000 monthly.
Ryan Charland, Manulife Philippines’ president and chief executive officer, said in a press briefing the new product will help clients build up wealth through periodic premium payments.
“Clients are looking for investment-linked products. Through Affluence Builder Plus, clients can make premium payments over a five-to-ten year period, and at an amount and frequency they are comfortable with,” Charland said.
The company started selling the product last month, and has observed strong demand from investors.
Over the long-term, Manulife “expects significant contribution” from the take up of the investment-centric product, amounting to “over 25 percent to 30 percent of overall sales volume,” the Manulife official noted.
Affluence Builder Plus lets clients pay smaller amounts with a longer pay period, or larger amounts over a more flexible timeframe. Clients can also choose their own pooled fund in stocks, bonds, or other financial instruments.
There are wide choices of protection benefits that cover policy owners financially for accidental death or payment of premiums in case of disability.
Through a low entry fee to be paid within the first year, customers are ensured that they are fully invested by the second year.
“Affluence Builder Plus will help our clients fund their dreams – whether it’s for retirement, a home, education, or any other large future expense,” Charland added.
As of September, Manulife Philippines has around P90 billion worth of assets under management.
Established in the Philippines 108 years ago, Manulife Philippines is a wholly-owned subsidiary of Toronto-based Manulife Financial Corp.