Thursday, January 22, 2015

Manulife Singapore’s ManuSignature Series Offers Financial Solutions Targeted at High Net Worth Individuals (HNWIs)

Manulife (Singapore) Pte. Ltd. has launched the ManuSignature Series, which is designed to cater to the unique financial needs of high net worth individuals (HNWIs)

The Series offers a choice of solutions to help HNWIs meet their personal and business needs, such as family protection, estate creation, wealth preservation and distribution, and business succession planning.

The HNWI market in Asia-Pacific has grown rapidly and shows little sign of slowing down. According to the 2014 Asia-Pacific Wealth Report(1), the number of HNWIs(2) in the region reached 4.3 million in 2013, rising 43 percent from 2009. Total wealth of HNWIs in 2013 was US$14.2 trillion. Asia-Pacific
is also expected to overtake North America as the largest HNWI market in the near future, according to the report. In Singapore alone, there were 105,000 HNWIs in 2013, up 30 percent from 2009.

“As Singapore continues to gain prominence as a hub for HNWIs, we are likely to see a corresponding increase in demand for wealth management and protection solutions tailored to this segment,” said Naveed Irshad, President and Chief Executive Officer of Manulife Singapore.

“Manulife is committed to developing innovative products that deliver real value to our clients. We understand the top financial priorities of HNWIs and have designed the ManuSignature Series with their specific needs in mind.”

There are currently three products in the ManuSignature Series serving HNWIs:

Heirloom (I)
The newly enhanced Heirloom (I) is designed to support HNWIs with their legacy planning and wealth transfer needs. It is a flexible premium US dollar-denominated universal life plan that provides high death benefit protection and strong cash value accumulation potential. 

One notable enhancement for Heirloom (I) is the simplification of its application requirements, which enables some clients to obtain coverage without the need for medical examinations. There have also been some underwriting changes, which will expand the pool of clients who can qualify for preferential risk classes with lower premiums. 

Another unique feature is Manulife‟s Quit Smoking Incentive (QSI), which offers smokers non-smoker rates for the first three policy years. Those who provide satisfactory evidence that they have quit smoking after this period can continue to enjoy the lower charges.

ManuSignature Term
ManuSignature Term helps HNWIs boost their protection coverage at minimal cost, with a high sum insured of S$1 million and above in the event of death and terminal illness. There is also the option to add on supplementary benefits for critical illness protection. Non-smokers in excellent health can enjoy preferred premium rates that are lower than the standard rates.

ManuSignature One
ManuSignature One is a Singapore dollar-denominated single premium whole life insurance plan that offers HNWIs high protection coupled with a high guaranteed cash value. It features a Minimum Protection Benefit (MPB) factor to guarantee coverage up to 300 percent(3) of the chosen sum insured. The plan also provides an immediate and guaranteed cash value of 80 percent from day one of the policy, which will continue to grow with the accumulation of nonguaranteed bonuses(4).

Manulife has also established a dedicated high net worth service, where a specialised team will work closely with distributors to facilitate a smooth and hassle-free application process for HNWI clients.

About Manulife
Manulife is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. We operate as John Hancock in the U.S. and as Manulife in other parts of the world. We provide strong, reliable, trustworthy and forward-thinking solutions for our customers‟ significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife and its subsidiaries were approximately C$663 billion (US$591 billion) as at September 30, 2014.

Manulife Financial Corporation trades as „MFC‟ on the TSX, NYSE and PSE, and under „945‟ on the SEHK.
Manulife can be found on the Internet at

1 Published by Capgemini and RBC Wealth Management
2 HNWIs are defined as those having investable assets of US$1 million or more, excluding primary residence, collectibles, consumables, and consumer durables
3 Applicable for entry age 0 to 35 years
The actual bonus amount payable may vary according to the future performance of the Participating Fund


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