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Manulife Annuities suite offers single life,
joint and survivor, and term-certain options to address Canadians'
growing need for retirement income solutions
TORONTO, Nov. 20,
2023 /CNW/ - Manulife today announced it is
reintroducing Manulife Annuities through independent advisors to
provide them with a fulsome suite of products that meet the
evolving needs of Canadians seeking retirement income
solutions.
For a single lump-sum investment, Manulife Annuities will
provide a guaranteed income stream with payments continuing for
either the life of one or two individuals, or for a specified
period of time. Annuity payments are guaranteed and determined at
the time of purchase. They are not affected by changing financial
markets.
"There is a growing need for solutions that bring stability into
financial planning, especially with more Canadians entering
retirement amid an environment of continuing market volatility and
increasing cost of living," said Paul
Savage, head of Manulife Individual Insurance, Canada. "With annuities growing in popularity
among Canadians and retirement savers worldwide, we're pleased to
announce our strengthened offering to help advisors connect to
their clients' needs with a relevant guaranteed income product
suite."
With flexible guarantee periods and income payment options,
Manulife Annuities are customizable to meet clients' individual
needs.
Additionally, Manulife Annuities offer a cash refund or
principal protection guarantee so that, in the event of the
annuitant's premature death, a beneficiary will receive a lump sum
payment equal to the difference between total payments received and
the principal investment amount.
The annuity suite provides an attractive income-generating
investment offering, potentially at a higher income rate than other
guaranteed products. Income can be tax-efficient, with options like
pension income splitting and access to the pension income tax
credit.
"While there are significant tangible benefits of annuities,
it's the intangible ones such as providing peace of mind, taking
away the fear of outliving your money or having to manage a
portfolio, that can also deliver value to retirement savers," said
Mathieu Charest, head of product and
pricing, Manulife Individual Insurance, Canada.
The Manufacturers Life Insurance Company (Manulife) is the
issuer of all Manulife Annuity Contracts. Manulife, Manulife &
Stylized M Design, and Stylized M Design are trademarks of The
Manufacturers Life Insurance Company and are used by it, and by its
affiliates under license.
About Manulife
Manulife Financial Corporation is a leading international
financial services provider, helping people make their decisions
easier and lives better. With our global headquarters in
Toronto, Canada, we provide
financial advice and insurance, operating as Manulife across
Canada, Asia, and Europe, and primarily as John Hancock in the
United States. Through Manulife Investment Management, the
global brand for our Global Wealth and Asset Management segment, we
serve individuals, institutions, and retirement plan members
worldwide. At the end of 2022, we had more than 40,000 employees,
over 116,000 agents, and thousands of distribution partners,
serving over 34 million customers. We trade as 'MFC' on the
Toronto, New York, and the Philippine stock exchanges
and under '945' in Hong Kong. Not
all offerings are available in all jurisdictions. For additional
information, please visit manulife.com
SOURCE Manulife