• First-in-market CI plan to cover heart attack or stroke twicei
  • Multiple critical illness coverage up to 500 per cent of the face amount

Hong Kong - Manulife (International) Limited has launched a new critical illness (CI) insurance plan - ManuMulti Care that offers protection up to age 100 and allows customers to make multiple claims for critical illnesses before the age of 85 including heart attack and strokei. These features provide customers with continuous protection even after the first CI claim.

Unlike most CI plans which divide illnesses covered into several categories, Manulife's MMC simply groups them into two ― Cancer and Non-Cancer. This simplified structure is deemed easier for customers to understand.

Paul A. Smith, Vice President and Head of Individual Financial Products, said: "At Manulife, we strive to provide innovative financial solutions in meeting our customers' changing needs. Traditional CI plans usually terminate once a claim is made, leaving customers with no CI protection in the future. With ManuMulti Care, customers can make multiple claims of up to 300 per cent of the face amount for Cancer Group illnesses, and 200 per cent of the face amount for Non-Cancer Group illnesses before the age 85i, giving customers a continuous protection."

He went on: "With statistics showing that heart attack and stroke patients are at risk of a recurrent eventii,iii, ManuMulti Care is the first CI plan in the market to cover a heart attack or stroke twicei."

After age 85, customers can still enjoy protection up to age 100 if the total CI benefits paid is less than 100 per cent of the face amount.

Mr. Smith continued: "The recent Manulife Investor Sentiment Index survey shows that two-thirds of Hong Kong investors cite deteriorating health as their number-one retirement worry. ManuMulti Care provides protection to customers well into retirement."

ManuMulti Care covers 60 major CIs including cancer and heart attack. According to statistics, the top three leading causes of death in 2013 in Hong Kong were malignant neoplasms, pneumonia and heart diseasesiv. ManuMulti Care also covers 11 minor CIs including carcinoma-in-situ, early thyroid cancer and angioplasty treatment. Children are also covered for eight juvenile diseases, including severe asthma and autism.

Other key features of ManuMulti Care include:

  • Flat premiumv over flexible payment periods: customers can choose a premium payment period of 10, 20 or 25 years, or to age 65. The premium is flat throughout the chosen payment term and offers protection up to age 100.
  • Premium waiver: to help ease the financial burden in the unfortunate event of a CI, the premium of ManuMulti Care is waived when total CI benefit paid reaches 100 per cent of the face amount.
  • Free Wellness Check-upsvi: ManuMulti Care provides five free medical check-ups on alternate years, beginning one year after the policy takes effect.
  • Annual Dividend (Non-guaranteed)vii: a dividend (non-guaranteed) will be declared annually to act as a reserve to help pay for future healthcare expenses or to be used as emergency cash.
  • Guaranteed Cash Value: starting from the 10th policy anniversary, a Guaranteed Cash Value will be provided upon policy surrender. The maximum amount is up to 90 per cent of the face amount.
  • Death Benefit: in the event of death, the beneficiary will receive a Death Benefit equal to the face amount, less any CI benefits paid under the policy, subject to a minimum of zero.
  • Compassionate Death Benefit: five per cent of the face amount will be paid as Compassionate Death Benefit throughout the policy term. The Compassionate Death Benefit will not be affected by any CI benefit paid.

"Critical illnesses can affect people at any age," explained Mr. Smith. "The cost of treatment and rehabilitation can be a tremendous financial burden for the patient and his/her family. Our recent Manulife Investor Sentiment Index survey also shows that one-in-five Hong Kong investors expect recurring healthcare costs to kick-in before the age of 45, and nearly a third cite concerns about the affordability of healthcare. It is very important for people to build CI protection into their financial planning, or they risk having their savings eroded by medical costs." 

From now until December 24, 2014, customers can enjoy a two-month premium waiverviii: upon application for ManuMulti Care.

*For more details about the policy, please refer to the product leaflet and policy provision.

About Manulife (International) Limited
Manulife (International) Limited is a member of the Manulife group of companies.

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 (HK$4,593 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 manulife.com.

Media Contact:
Jacqueline Kam / Crystal Tse
Manulife (International) Limited
Tel: (852) 2202 1284 / 2510 3130
Fax: (852) 2234 6875
Jacqueline_tm_kam@manulife.com /
Crystal_ym_tse@manulife.com

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