On The Shelf:

(September 22, 2008) Manulife has added more bonus features to its popular guaranteed minimum withdrawal product, IncomePlus, including an unlimited income bonus period for investors. As of October 20, 2008, IncomePlus investors will receive a 5% bonus on their guaranteed income for each year that they don’t make a withdrawal from IncomePlus. Previously, income bonuses […]

By Staff | September 22, 2008 | Last updated on September 22, 2008
2 min read

Manulife has also introduced other new features, including a lower minimum investment. The minimum amount required to purchase IncomePlus is now $25,000, compared to the previous $50,000 minimum.

Investors also now gain access to the lifetime withdrawal benefit at the beginning of the year they turn 65, rather than at the end of the year.

Manulife stresses that none of the above enhancements to IncomePlus will impact fees or management expense ratios. In addition, these enhancements will automatically be made available to existing contract-holders on December 31, 2008.

(09/22/08)

Advisor.ca staff

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.

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(September 22, 2008) Manulife has added more bonus features to its popular guaranteed minimum withdrawal product, IncomePlus, including an unlimited income bonus period for investors.

As of October 20, 2008, IncomePlus investors will receive a 5% bonus on their guaranteed income for each year that they don’t make a withdrawal from IncomePlus. Previously, income bonuses were available in each of the first 15 years when there were no withdrawals.

“IncomePlus is not only the first product of its type in Canada but now is the first to offer annual income bonuses for the life of the contract,” says J. Roy Firth, executive vice-president, Manulife Financial. “For younger investors, this means they can invest at any age and are entitled to receive a 5% income bonus for each year they don’t make a withdrawal. For older investors, even if they are retired, they also are eligible to receive an income bonus for any year they do not make a withdrawal.”

In less than two years since its launch, investors have poured more than $6 billion in GIF Select featuring IncomePlus, as many Canadians move to save, protect and grow their retirement savings.

“An unlimited income bonus period will allow IncomePlus investors to better plan for retirement knowing that their guaranteed income for life can increase each year, regardless of market conditions,” Firth says.

Manulife has also introduced other new features, including a lower minimum investment. The minimum amount required to purchase IncomePlus is now $25,000, compared to the previous $50,000 minimum.

Investors also now gain access to the lifetime withdrawal benefit at the beginning of the year they turn 65, rather than at the end of the year.

Manulife stresses that none of the above enhancements to IncomePlus will impact fees or management expense ratios. In addition, these enhancements will automatically be made available to existing contract-holders on December 31, 2008.

(09/22/08)

Previous Brieflies this week: | MON | TUE | WED | THU |

(September 22, 2008) Manulife has added more bonus features to its popular guaranteed minimum withdrawal product, IncomePlus, including an unlimited income bonus period for investors.

As of October 20, 2008, IncomePlus investors will receive a 5% bonus on their guaranteed income for each year that they don’t make a withdrawal from IncomePlus. Previously, income bonuses were available in each of the first 15 years when there were no withdrawals.

“IncomePlus is not only the first product of its type in Canada but now is the first to offer annual income bonuses for the life of the contract,” says J. Roy Firth, executive vice-president, Manulife Financial. “For younger investors, this means they can invest at any age and are entitled to receive a 5% income bonus for each year they don’t make a withdrawal. For older investors, even if they are retired, they also are eligible to receive an income bonus for any year they do not make a withdrawal.”

In less than two years since its launch, investors have poured more than $6 billion in GIF Select featuring IncomePlus, as many Canadians move to save, protect and grow their retirement savings.

“An unlimited income bonus period will allow IncomePlus investors to better plan for retirement knowing that their guaranteed income for life can increase each year, regardless of market conditions,” Firth says.

Manulife has also introduced other new features, including a lower minimum investment. The minimum amount required to purchase IncomePlus is now $25,000, compared to the previous $50,000 minimum.

Investors also now gain access to the lifetime withdrawal benefit at the beginning of the year they turn 65, rather than at the end of the year.

Manulife stresses that none of the above enhancements to IncomePlus will impact fees or management expense ratios. In addition, these enhancements will automatically be made available to existing contract-holders on December 31, 2008.

(09/22/08)