Manulife Hong Kong announced the launch of Genesis, an innovative life-insurance savings plan designed to accelerate long-term savings for customers. With Genesis, clients can now enjoy impressive total internal rates of return (TIRR) of up to 7.19% at the end of the 100th policy year, setting the stage for potential wealth transfer to future generations. This new plan offers a unique suite of features, including a flexible withdrawal option, advance benefits for critical and mental illnesses, and a groundbreaking Legacy Choice service[2],[3].
Genesis allows customers to pay premiums for just five years while reaping the benefits of a TIRR of up to 4.29% at the end of the 10th policy year. Furthermore, the plan offers a withdrawal option that provides a lifetime non-guaranteed income stream, ensuring financial security for clients without surrendering their policy.
The Genesis plan introduces several pioneering features, including:
- Total Internal Rate of Return (TIRR): Genesis offers competitive TIRR rates of up to 7.19% at the end of the 100th policy year, providing customers with an opportunity to accelerate their long-term savings.
- Easy Choice: A unique withdrawal option that enables customers to receive regular non-guaranteed income drawn from the terminal bonus[7], without cashing in their policy.
- Body and Mind Advance Benefit: A groundbreaking feature that allows customers to realize up to 100% of the terminal bonus in the event of designated critical and mental illnesses[8].
- Legacy Choice: A flexible option that enables customers to transfer their policy at a designated date or age of the successive policyowner[2],[3], ensuring seamless wealth transfer to future generations.
Additionally, Genesis offers a currency switch option with seven currencies available, allowing customers to capitalize on global market opportunities. The plan also includes an Incapacity Care Service, providing customers with peace of mind by allowing them to pre-appoint a family member to manage the policy in the event of incapacity.
In conjunction with the launch of Genesis, Manulife has also introduced Whole-in-One Prime 3 (“WIOP3”), an upgraded participating life insurance plan designed to help customers achieve their protection and wealth management goals. WIOP3 offers a range of premium payment periods and competitive returns, making it accessible to a wider range of customers.