THE MANUFACTURERS Life Insurance Co. (Phils.), Inc. (Manulife Philippines) and Manulife China Bank Life Assurance Corp. (MCBL) have launched a new unit-linked plan that offers life insurance coverage along with various investment options.
Manulife GoalReady is a peso-denominated variable unit-linked (VUL) insurance product that has various payment and investment fund options. It is now available via Manulife Philippines’ financial advisors and MCBL’s financial sales associates in branches of China Banking Corp. (Chinabank) and China Bank Savings, Inc. nationwide.
“Our new Manulife GoalReady plan empowers customers in the Philippines to take control of their financial future — by making their money work harder through smart diversification and consistent investing. Amid global economic and sociopolitical shifts, our Filipino customers can navigate financial uncertainties with a plan that can help them secure their future while maximizing investment potential,” Manulife Philippines President and Chief Executive Officer Rahul Hora said in a statement on Monday.
The new product was developed based on findings from the Manulife Asia Care Survey, the company said. “The survey uncovered a significant gap between the future well-being they aspire to and what they realistically expect to attain — especially in the areas of financial security, physical health, and mental wellness.”
Manulife GoalReady offers life insurance coverage until age 99.
For the plan’s investment options, policyholders may choose from global and local funds depending on their goals and risk profiles. These include Global Multi-Asset Income Fund for income generation and Global Market Leaders Fund for growth and protection, which are both managed by Manulife Investment Management and Trust Corp.
The policy also offers clients a 1.75% loyalty bonus on their fund value from years six to 10 of their plan, with continued bonuses from the 11th year onwards.
Manulife GoalReady offers two payment options: regular pay with a minimum premium of P24,000 annually or P2,000 monthly, and five-pay, which has a minimum premium of P60,000 annually or P5,000 monthly.
Customers can choose from optional health and protection riders, the insurer added. The Manulife GoalReady calculator also allows clients to estimate how much they need to save based on their specific financial goal, budget, saving horizon, or income protection needs.
Manulife Philippines and Chinabank this year renewed their bancassurance agreement via MCBL that began in 2007 for another 15 years.
Manulife Philippines’ premium income stood at P15.83 billion last year, while its net income was at P2.78 billion.
Meanwhile, MCBL booked a premium income of P10.35 billion in 2024, latest data from the Insurance Commission showed. Its net income stood at P1.39 billion last year. — Aaron Michael C. Sy
