～ Level-payment annuity insurance whose payments are made in yen and invested in foreign currency ～

Manulife Life Insurance Company (hereinafter, "Manulife Japan"; President & CEO: Gavin Robinson; Head Office: Shinjuku-ku, Tokyo) will commence the nationwide sales of a new product that allows customers to make payments in yen but accumulate retirement assets in either US dollars (USD) or Australian dollars (AUD). It also has flexible payment options that allow customers to adjust their payments to adapt to their financial circumstances.

The product will be available through Manulife Japan's PlanRight Advisors (the company's captive sales representatives) and through selected independent general agents.

Product Name:

Non-par Foreign-Currency-Denominated Individual Annuity Insurance(Variable Interest Crediting Rate Type)

Pet Name:

Kodawari Kojin Nenkin (Denominated in Foreign Currency)

Launch date:

July 1, 2015

With people living increasingly long and active lives even after retirement, there are growing demands for retirement solutions that help supplement their public pension, retirement annuity, and lump-sum retirement allowance. The "Kodawari Kojin Nenkin (Denominated in Foreign Currency)" is a new level-premium foreign-currency-denominated annuity insurance developed to effectively meet the needs of customers who wish to prepare themselves for the future and need flexible payment and settlement options as well.

With its new slogan, "Live Today, Pave the Way for Tomorrow", Manulife Japan continues to focus on developing innovative products that help customers lead a fulfilling life now and move step by step towards an ideal future.

Special features of "Kodawari Kojin Nenkin"

1． Policyholders can pay fixed amounts in yen monthly which will be converted into its equivalent amount in the policyholder ' s selected currency (either in US dollars (USD) or Australian dollars (AUD))[1] and invested as policy value.

・ Policyholders can opt to pay fixed premiums for as low as 10,000 yen per month (the minimum monthly premium). Policyholders can also expect higher returns because the policy value will be invested in the selected foreign currency (USD or AUD) whose interest rates hover at higher levels relative to the Japanese yen (based on the current prevailing interest rates and exchange rates) . ・ Policyholders can diversify risks by adding foreign currencies to their post-retirement asset portfolio.

2． The interest crediting rate applicable to the policy will be renewed every month and a guaranteed minimum interest rate applies, which gives policyholders security against interest rate fluctuations.

・ During the premium payment period, the interest crediting rate applied to new deposits will be revised every month in order to respond flexibly to fluctuations of market interest rates. ・ The interest crediting rate will not fall below the minimum-guaranteed interest rate (1.5% per annum) irrespective of whether the policy currency is in USD or AUD.

3． Flexible premium payments enable policyholders to respond to any change in their life-stage and financial situation.

・ Policyholders can reduce, suspend payments, or resume payments of the premium amount paid in yen[2] , which enables them to maintain the policy without a heavy burden on the family budget. ・ Eligible policyholders can extend the premium payment period depending on changes in their individual situations at the time of the annuitization, such as the extension of their employment period[3] . Even after the extension of the premium payment period, they can reduce, suspend, or resume payments of the premium amount paid in yen.

4． Policyholders have the flexibility to choose their annuity settlement method. Policyholders have the following options:

・ Receiving annuity while investing in the selected foreign currency : a policyholder can receive annuity in the selected foreign currency after the annuitization date. The policyholder can receive annuity in yen converted from the selected foreign currency by adding the JPY Benefit Rider Type C to the base policy[4] . ・ Receiving annuity in yen: a policyholder can transfer the annuity capital to the yen-denominated annuity by converting the annuity capital in the selected foreign currency into an equivalent amount in yen[5] . ・ Lump-sum payout of annuity: a policyholder can receive the present value of the payable annuity in lump sum for the remaining guaranteed period in the case of the whole-life annuity within the guaranteed period or for the remaining annuity payment period in the case of annuity certain, by submitting the predefined payment request form on or after the annuitization date.

5． Income tax deductions applicable to premiums paid in yen.

・ Eligible policyholders whose basic policy satisfies the prescribed conditions can enjoy an income tax deduction called the individual annuity premium deduction[6] , which is applicable to the premium amount paid in yen, by adding the "Tax Qualified Individual Annuity Rider" to the relevant basic policy.

About Manulife

Manulife Life Insurance Company ("Manulife Japan") is a member of the Manulife Financial Group.

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. Assets under management by Manulife and its subsidiaries were approximately C$821 billion (US$648 billion) as at March 31, 2015.

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 manulife.com


Media Contact
Mari Shiraiwa
Branding, Marketing & Communications
Manulife Life Insurance Company
Tel: +81 3-6331-7779


[1] This insurance product involves exchange risks.

[2] Policyholders can reduce the premium amount paid in yen within the predefined range during the premium payment period (but any increase in the premium amount paid in yen is not allowed). In addition, eligible policyholders can suspend the payment of the premium amount paid in yen by submitting the predefined request form for it to the Company on condition that their policy satisfies the prescribed conditions including the elapse of at least ten years from the policy issue date to the payment suspension date inclusive and full payment of premiums (premium amounts paid in yen) applicable to the relevant period. The policy value whose policy is under suspension of premium payment will remain invested even after the suspension of premium payment in the same manner as before the suspension of premium payment. They can also resume the payment of premiums.

[3] The premium payment period can be extended up to five years (in units of one year) under the condition that the policyholder's age as of the annuitization date after the extension must be 80 years old or less.

[4] Everytime receiving annuity in yen, the amount in yen may be affected by exchange rate fluctuations.

[5] When converting the annuity capital into an equivalent amount in yen, the amount in yen may be affected by exchange rate fluctuations.

The tax treatment of the product is based on the tax laws and regulations as of May 2015 and subject to future changes due to revisions of tax law, etc. For specifics of tax treatment, please always consult with the tax authority, certified tax accountants or other tax specialists.

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