Manulife’s Genesis offers long-term wealth transfer
The plan promises up to 4.29% TIRR in 10 years.
Manulife Hong Kong has launched a new participating life insurance savings plan designed to help customers accelerate their long-term savings.
The Genesis plan allows customers to pay premiums for five years to unveil a TIRR of up to 4.29% at the end of the 10th policy year, and a TIRR of up to 7.19% at the end of the 100th policy year, allowing for potential wealth transfer to the next generation.
The plan also offers several first-in-market features, including:
- A withdrawal option that enables customers to receive a regular non-guaranteed income without cashing in their policy;
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- An advance benefit for designated critical and mental illnesses, and a value-added service that allows customers to transfer the policy at a designated date or age of the successive policy owner.
Additionally, Manulife announced an upgraded version of the Whole-in-One Prime (WIOP3) plan, which assists individuals with protection and management goals. It now offers a range of premium payment periods, including single premium, five years, and 10 years.
WIOP3 provides death benefits and flexibility in premium payment, making it accessible to a wider customer base. It includes features like a flexible premium prepayment option and death benefit settlement, ensuring comprehensive coverage and flexibility for customers' needs.