April 11, 2019
Makati City, Philippines - Manulife China Bank Life Assurance Corporation (MCBL) launched MCBL Enrich, an affordable life insurance solution that helps address Filipinos’ need for protection, education, retirement, and other life milestones. For a minimum investment of Php 12,000 per year, customers can get protection coverage plus an opportunity to start saving to achieve their financial aspirations.
Aside from its built-in accident and waiver of premium benefit, MCBL Enrich allows customers to customize their protection coverage. They can also choose from professionally-managed funds based on their risk appetite and enjoy potential growth of their investment.
“Budget is a big factor for Filipinos when deciding to get life insurance or investments products. With MCBL Enrich, customers can get both for as low as Php 1,000 per month. It’s an affordable product that lowers the barriers to getting life insurance protection and investment so that more Filipinos will be able to enjoy a more secure future,” Jude Gomes, President, and Chief Executive Officer of MCBL, said.
MCBL Enrich has a manageable premium payment scheme. Customers can opt for a five year pay, non-guaranteed plan and choose to make additional investment on top of their regular premium for faster build-up of fund.
About Manulife China Bank Life Assurance Corporation
Manulife China Bank Life Assurance Corporation (MCBL) is a strategic alliance between Manulife Philippines and China Bank, providing a wide range of innovative insurance products and services to China Bank and China Bank Savings customers. The aim is to ensure that every client receives the best possible solution to meet his or her individual financial and insurance needs. In 2014, China Bank raised its equity stake to 40% in Manulife China Bank Life.
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 leading life insurance companies in the country. 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 the website and follow them on Facebook (www.facebook.com/ManulifePH), Twitter (@ManulifePH), and Instagram (@manulifeph).
About Manulife
Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2017, we had about 35,000 employees, 73,000 agents, and thousands of distribution partners, serving more than 26 million customers. As of September 30, 2018, we had over $1.1 trillion (US$863 billion) in assets under management and administration, and in the previous 12 months we made $27.6 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.
About China Bank
China Banking Corporation (China Bank), founded in 1920, is the country’s first privately-owned local commercial bank. It was listed on the Philippine Stock Exchange in 1927 (PSE stock symbol: CHIB), became the first bank in Southeast Asia to process deposit accounts on-line in 1969, the first Philippine bank to offer phone banking in 1988, and acquired its universal banking license in 1991. It provides a full range of banking products and services to corporate, commercial, and retail customers through 621 branches to date, including 162 branches of its retail bank arm China Bank Savings (CBS), complemented by its ATM network nationwide and internet and mobile banking alternative channels and services. It also offers a wide range of allied financial services through its subsidiaries China Bank Capital Corp., China Bank Securities Corp., China Bank Insurance Brokers Inc., and affiliate Manulife China Bank Life Assurance Corp. With nearly a century of enduring partnerships marked by quality service to its clients, with significant contribution to the country’s financial landscape, China Bank remains to be one of the largest, most respected, trusted, and stable financial institutions in the country.