Posted on Jul 27, 2010 by Sergio Ulloa
Manulife Life Insurance Company (Manulife Japan) has recently launched a new variable individual annuity insurance type V product which will be sold through the Bank of Tokyo-Mitsubishi UFJ.
The name of the new product is Ashita-no-Nenkin and it is an investment-type annuity insurance product, tailored to meet the needs of customers wanting to start accumulate funds in preparation for retirement.
According to Manulife Japan the appealing characteristics of this new product include features that are easy to understand, and a death benefit guarantee that the beneficiary of the policy will receive no less than 100% of the basic benefit amount. As such, the new product being offered by Manulife is a Japan-specific variant of traditional whole-of-life insurance plans.
With this new insurance product, customers may choose to opt for either a 'step-down life annuity' or a 'fixed-term annuity' taking into consideration their plans for retirement, plus the provision of a minimum guarantee of the total amount that the customer is likely to receive.
Customers can opt to start receiving annuity payments as early one year after commencing the plan, or they may choose the length of the payment deferral period.
Manulife Japan is a subsidiary of Manulife Financial, the financial services group based in Canada. In addition to asset management services, Manulife Financial also provides reinsurance solutions specialising in life and property and casualty retro-cession, as well as financial protection and wealth management products and services.
Insurance Company mentioned:
Manulife Life Insurance Company, Japan. Manulife Financial was one of the first foreign life insurance companies to establish operations in Japan, entering the market in 1901. Manulife re-entered Japan in 1999, laying the foundation for the establishment of Manulife Life Insurance Company (Manulife Japan). The vision of Manulife Japan is to be the most professional life insurance company in Japan, providing leading financial protection and wealth management products and services, and learning from and quickly adapting to its customers? changing needs.