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Manulife China Bank Launches AssureMax, an Insurance Plan with Double Life Protection & Guaranteed Cash Payouts
December 18, 2023
Manila ― Manulife China Bank Life Assurance Corporation (MCBL), the bancassurance partnership between Manulife and China Bank, recently launched AssureMax, a life insurance plan combining protection benefits with guaranteed returns that Filipinos can use to fund their children’s education, support their businesses or their passions, provide themselves a comfortable retirement, and other future needs and financial goals.
MCBL AssureMax, now available in 5- and 10-year payment terms, offers guaranteed life protection equal to 200% of the Face Amount; a guaranteed cash payout that is 10% of the Face Amount every two years starting at the end of their seventh year for the 5-year variant, and starting at the end of the 11th year for the 10-year variant; and a guaranteed maturity benefit that is equal to 100% of the Face Amount paid out at the end of the policy term. It comes with pre-selected or optional riders, such as accidental death benefits, payor’s benefits, hospital income benefits, and other non-guaranteed benefits.
“With high protection and guaranteed returns offered by AssureMax, we want to provide Filipinos a smarter way to save, wherever they may be in their life journey. AssureMax is designed for our customers who aim to save up to purchase a new home, finance their children’s education or prepare for their retirement while ensuring insurance coverage. AssureMax is also tailor-fit for those who simply want to grow their investments or diversify their financial portfolios so they can reach their life goals,” said Neil Bowyer, President, MCBL.
MCBL AssureMax is available in two basic plans: AssureMax 20 for ages 0-65 and AssureMax 65 for ages 0-45, with a benefit period of 20 years or up to age 65.
To learn more about AssureMax, visit www.manulife-chinabank.com.ph.
About Manulife Philippines
The Manufacturers Life Insurance Company opened its doors for business in the Philippines in 1907. Since then, Manulife’s Philippine Branch and later The Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife Philippines) has grown to become one of the country’s leading life insurance companies. Manulife Philippines is a wholly owned domestic subsidiary of Manulife Financial Corporation, among the world’s largest life insurance companies by market capitalization. Learn more about Manulife Philippines by visiting their website manulife.com.ph and following them on Facebook (facebook.com/ManulifePH), Twitter (@ManulifePH), and Instagram (@manulifeph).
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.
About Manulife China Bank Life
Manulife China Bank Life Assurance Corporation is a strategic alliance between Manulife Philippines and China Banking Corporation (China Bank). It provides a wide range of innovative insurance products and services to customers of China Bank as well as the bank’s thrift arm, China Bank Savings (CBS). MCBL aims to ensure that every client receives holistic life, health, and wealth solutions to address his or her individual needs.
Since opening in October 2007, the company has grown into a business of significance for both Manulife and China Bank. The two strengthened their partnership further in 2014 when China Bank raised its equity stake in MCBL to 40%.
About China Bank
Founded in 1920, China Banking Corporation (China Bank) is a leading private universal bank in the Philippines with a strong presence in the entrepreneur, middle market, and corporate segments. We offer a full range of financial products and services, also serving the retail banking, investment banking, and insurance needs of our diverse customers through our subsidiaries China Bank Savings, China Bank Capital, China Bank Securities, Resurgent Capital, CBC Assets One, China Bank Insurance Brokers, and affiliate Manulife China Bank Life Assurance.
For over 100 years, we have made the success of the people and businesses who bank with us our business. Leveraging our network, expertise, and resources—vast distribution network, robust technological infrastructure, team of highly qualified banking professionals, strong balance sheet, we build long-term relationships with today’s generation and shape China Bank as a responsive, reliable, and responsible banking partner for the next generation.
China Bank is listed on the Philippine Stock Exchange under the ticker symbol “CHIB” and a member of the SM Group, one of the largest conglomerates in the Philippines.
640 branches. 10,238 employees. 1,044 ATMs. 2.6M customers.
Media Contacts:
John Robert Sion
Manulife Philippines
john_robert_sion@manulife.com
Dessa Virtusio
Virtusio PR International, Inc.
(+632) 631-9479
dessa@virtusio.com
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