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| January 15, 2008: Manulife Investments soars through $3 billion in sales for Canada's first guaranteed minimum withdrawal benefit product... |
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{From Press Release}:In just more than 14 months since its original launch, sales of GIF Select featuring IncomePlus ended 2007 at almost $3.4 billion. In December alone, sales reached a record $680 million for Canada's first Guaranteed Minimum Withdrawal Benefit (GMWB) product designed to help Canadians save, protect and grow their retirement savings.
Launched in October 2006 by Manulife Investments, IncomePlus appeals to Canadian boomers entering the "Retirement Risk Zone" - the five-to-ten years before and after they reach retirement - when their portfolios are most vulnerable to market downturns and volatility as witnessed in recent weeks. IncomePlus provides guaranteed monthly payments independent of when an investor retires in the market cycle, as well as growth potential, flexibility and control. "Canadians have shown they understand and see a definite need in their financial plans for this type of product, similar to the strong appeal we've seen for similar products in the U.S.," said J. Roy Firth, Executive Vice President, Manulife Financial. "The popularity of these products with Canadians speaks to the current mindset of today's boomer - they want protection when markets are volatile and growth when markets are good. This product gives them that, and more." In October 2007, Manulife Investments enhanced IncomePlus to provide investors with guaranteed monthly income for life, to address a growing financial concern among older Canadians of outliving their savings. With IncomePlus, investors have downside protection for their principal investment - upside potential that can increase payments for life - flexibility and control over investments with complete access to the market value of their funds at anytime if needed. In addition, investors now receive a five per cent bonus on their guaranteed income for each year they don't make a withdrawal, for up to 15 years. That means investors can better plan for retirement knowing that their guaranteed income for life can increase each year, regardless of market conditions. IncomePlus includes a wide range of funds managed by some of the top fund managers in Canada. The Canadian Investment Awards has also recently recognized IncomePlus as a powerful retirement solution awarding IncomePlus with "best new initiative" in 2007. In addition, Manulife remains the only financial institution in Canada with a "AAA" S&P credit rating to offer a GMWB product. For more details, please visit Manulife Investments' website at: www.manulifeincomeplus.ca About Manulife Investments -------------------------- Manulife Investments is the brand name describing certain Canadian subsidiaries and operating divisions of Manulife Financial Corporation that offer personal wealth management products and services in Canada. As one of Canada's leading integrated financial services providers, Manulife Investments offers a variety of products and services including segregated funds, mutual funds, annuities and guaranteed investment contracts. About Manulife Financial ------------------------ 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 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$399.0 billion (US$400.5 billion) as at September 30, 2007. Manulife Financial is one of two publicly traded life insurance companies in North America whose rated life insurance subsidiaries hold Standard & Poor's Rating Services' highest "AAA" rating and Moody's Investor Services' second highest "Aa1" rating, both representing financial strength. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '0945' on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com. -30- E.&O.E. |
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