Manulife

Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide.

Manulife provides financial protection and wealth management products and services, to individual and group customers in Canada, the United States and Asia.

These products and services include individual life insurance, group life and health insurance, long-term care services, pension products, annuities, mutual funds and banking products.

Manulife offers investment management services with respect to the Company’s general fund and segregated fund assets and to mutual funds and institutional customers. The Company operates in Canada and Asia through the brand name “Manulife Financial” and in the United States primarily through the brand name "John Hancock".

Manulife is proud of its long history. It has been servicing and helping plan for a better future for the people in Hong Kong for over a hundred years, and this is the reason why many reputable businesses and individuals value Manulife as their trustworthy financial partner. Operations in Hong Kong were first commenced in 1897!

Disability can occur at anytime, whether because of an accident or future illness. When it occurs, it can be both emotionally and fiscally devastating.

If you are the breadwinner of the family, this often results in a loss of primary income.

Medical expenses may also mount as you and your family adjust to your new life.

Disability Protection is a form of insurance that insures your earned income against the risk that disability will make working (and therefore earning) impossible.

Manulife's plans provide protection from loss of income to help you cover ongoing expenses. A good plan can provide much needed relief to you and your family as you adjust to your new life.

Choosing Manulife Disability Protection

Here are some reasons why many choose Manulife Disability Protection:

  • Flexible options to protect you and your family against any loss of income
  • First disability income insurance plan [Premier Income Protector] in Hong Kong with a unique premium refund feature
  • Coverage for both temporary and permanent disablement
  • Several ways to waive your premium or that of your child’s should you become totally disabled, or in the tragic event of death

Manulife offers a number of disability income products, chief amoung them we believe is their Disability Income Protector

Disability Income Protector

This product will compensate a significant portion of your lost earnings in case of accident or injury. It will alleviate your financial burdens while your regular income is interrupted.

Key Features

  • Stable monthly income benefit upon disability

  • Annual benefit adjustment to combat inflation

  • Rehabilitation program to help you return to work

  • Optional Claim Escalator Benefit increases your disability income benefit by 5% each year

Many often think that critical illness is for the unhealthy and the aged.

The fact is that younger generations are being increasingly afflicted.

Often when a critical illness strikes, it can be both emotionally and fiscally draining. With healthcare costs on the rise, ensuring you have adequate protection can provide you and your loved ones with well-deserved peace of mind.

Critical Illness Protection is a form of health insurance that provides a lump-sum payment should you fall seriously ill.

This form of insurance is especially crucial today with rising healthcare costs and earlier diagnoses.

It’s a difficult subject to think about, but part of planning for the future is being prepared for the unexpected.

Critical illness can happen to anyone, at any time. And it’s an unfortunate fact, but these illnesses can strike again.

Why Choose Manulife Critical Illness Protection? Here are some reasons why many choose Manulife Critical Illness Protection:

  • Benefit from lifelong protection by paying up as fast as only 10 years
  • Gain coverage for up to 53 major diseases till the age of 100
  • Allows 4 different Supplementary Benefits of major disease protection to be linked up to your basic life insurance policy
  • Innovative features for the best care solution, such as Cover-Me-Again and Second Medical Options

Manulife offers a number of different Ciritical Illness plans..Chief among them we believe is ManuMulti Care

ManuMulti Care

ManuMulti Care provides you with vital financial security when you need it most, along with the peace of mind that you’re comprehensively covered if critical illness happens more than once.

Key Features

  • Covers 60 Major Critical Illnesses, including Cancer, Stroke, and Heart Attack (Myocardial infarction)
  • Covers 11 Minor Critical Illnesses, e.g. Carcinoma-in-situ, Early Thyroid Cancer, Juvenile Diseases like Severe Asthma
  • Heart Attack or Stroke can be covered twice
  • Make multiple claims before age 85, up to:
    • 300% of the Face Amount for Cancer Group critical illnesses, and
    • 200% of the Face Amount for Non-Cancer Group critical illnesses
  • Flat premium over a limited period and continuous protection
  • Non-guaranteed annual dividends and life protection
  • Free wellness check-ups
  • Second Medical Opinion

Call us in 2530- 2530 to discuss the options with us or email us your questions to crew@navigator-insurance.com

ManuFuture Education Plan

This plan the first gift you can give to your kids helping you prepare for their future early.

The plan offers you funds for your kid’s future education and a long-term potential savings reserve that will safeguard the future for your children.

Key Feature

  • Guaranteed cash payments every year between ages 18-21
  • Competitive return with terminal bonus
  • Flexibility to exercise the terminal bonus realization option starting at age 18, giving you additional liquidity to support your child’s different needs
  • Guaranteed issuance, or you can attach a guaranteed insurability option to give your child additional life protection by only answering a few simple health questions
  • Optional payor benefit and supplementary benefits for extra protection

  • Note: The terminal bonus realization option allows you to access and lock-in up to 60% of the terminal bonus at specific times.

The guaranteed insurability option allows the life insured to obtain additional life protection coverage up to the lower of USD500,000 or 5 times the face amount of the plan.

ManuMaster Healthcare Series

This plan offers a choice of :

  • Full cover for core hospitalization benefits
  • Extensive pre- and post-hospitalization benefits
  • Rewards of deductible credits for staying healthy
  • Wellness checkpoint to support your road to health
  • Lifetime guaranteed renewal
  • Three distinct plans plus deductible options

ManuMaster offers you :

  • Classic,
  • Premier and
  • Elite

with designated area of cover for medical protection:

Should you spend a lot of time in Asia, you can select a Classic Plan which offers medical coverage within the region at a more affordable premium;

For those dividing their time between not only Asia, but also Europe or North America, Manulife's more extensive Premier Plan has the cover you are ever likely to need;

The Manumaster Elite Plan provides worldwide coverage that also entitles you to receive medical care at leading hospitals across the USA.

Click here for a quote request

Long-term care includes a variety of services, both medical and non-medical, that includes services such as:

  • dressing,
  • bathing, and
  • using the bathroom.

With living costs on the rise and the younger generation working longer, the older generation will need to assume greater responsibility of their long term well being. However, long-term care is not limited for the aged—it is needed at any age.

In the event of a disabling accident or chronic illness, suffers will need additional cash reserve to cover their rising medical care, additional help in daily living and the loss of primary income. THIS CARE WILL NOT BE PROVIDED BY MOST HEALTH INSURANCE PLANS

Manulife's Long-term Care is an important cover that provides valuable support and financial resources to assist you to cover the cost of long-term care you might need in the event of an illness, accident, or through the normal effects of aging.

It can be linked to designated products and can help you and your family face the future with confidence without worrying about the rising costs of long-term care.

Choosing Manulife Long-term Care

Here are some of the reasons for choosing Manulife Long-term Care:

  • Guaranteed issue with no underwriting required, together with designated products
  • Can be issued up to the age of 65
  • Higher flexibility with shorter term Provides an option to receive lump sum when disability is caused by an accident

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Without the right savings plan, you may not have the cash reserves to realise your dreams; but without the right protection, one single incident can wipe out your savings.

Related Article: Why Is It So Hard to Save?

Related Article: 5 Must-dos of Retirement Planning

Manulife offers savings plans that emphasise savings or protection and as well, term insurance which has NO savings component.

Savings Oriented Protection Oriented Term
La Vie Whole-in-One Protector ManuTerm
Premier Estate Protector Series ManuFlex Protector Mortgage Protector / Mortgage Benefit
Platinum One
My Way
MyChoice
ManuJoy Annuity Plan
ManuVision

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Group Health:

ManuCare

ManuCare is a packaged medical insurance plan, designed for employers with as few as three (3) employees.

Key features:

  • Basic coverage for hospital and surgical benefits and optional clinical coverage.
  • Ability to mix and match the hospital and surgical benefits with clinical benefits in different classes to create a plan that best suits their needs.
  • Flexibility on payment mode, from monthly, quarterly, semi-annually, annually to once every 2 years.
  • 10% discount for annual premiums of HK$30,000 or above.

Group Life and Health:

ManuPlan

ManuPlan offers a wide range of tailor-made group life and medical benefits at competitive rates.

Key features:

  • Suitable for employers with a minimum of three (3) employees.
  • Basic coverage for term life, hospital and surgical benefits.
  • Optional riders including:
    • Accidental Death and Disablement Benefits,
    • Total and Permanent Disability Benefits / Total Disability Installments Benefits.
    • Optional coverage that includes clinical, dental and maternity benefits.
  • Allows life insurance conversion that offers employees the right to retain their basic life insurance coverage on an individual basis when their employment ends.
  • Free Emergency Assistance Benefits*, including enquiry hotline, medical evacuation, compassionate visit and repatriation arrangement, etc.

KeyMan Insurance:

The loss of an owner or a key personnel whose contributions are integral for a business’ success can be devastating.

It can result in a drastic loss of profit, customer base and even reputation.

Protecting your business against such risks is often a prudent step toward business continuity, while addressing the concerns of your key stakeholders.

Key Man Insurance is a policy taken by an employer to mitigate financial losses in the event of a loss of key individual, whether it is the owner, important senior executive or a key contributor whose knowledge, work, or overall contribution is considered uniquely valuable to the business.

Although it does not indemnify actual losses, it can provide a valuable cash relief for any loss and costs for identifying a suitable replacement.

Premier Estate Protector

Key Features

  • Life protection to age 100
  • Different dividend options to provide financial flexibility
  • Variety of premium payment periods ranging from five years to until you reach the age of 100
  • You may consider adding other benefits to your Premier Estate Protector

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The world today is very different from that say 50 years ago. Nowadays, many places in the world have a rapidly ageing population problem. Saving for your future is not just a wise saying - it is prudent and essential to do so.

Hong Kong has a rapidly ageing population statistics show that by 2036 26.4% of Hong Kong’s population will be over 65.

Source: Census and Statistics Department HKSAR

Prior to the introduction of the MPF System, only about one-third of the nearly three million workforce in Hong Kong enjoyed some form of retirement protection or provision.

The Hong Kong Mandatory Provident Fund was implemented in 1 December 2000, following the enactment of the Mandatory Provident Fund Schemes Ordinance in August 1995 and Provident Fund Schemes Legislation (Amendment) Ordinance 1998 in March 1998.

Ever since the introduction of the Mandatory Provident Fund (“MPF”) system by the Hong Kong government in December 2000, managing an MPF scheme for your employees has been one of the key tasks that every business in Hong Kong.

To do so, you may need an MPF service provider who understands your business concerns and has a wealth of constituent funds, experience and the expertise.

Manulife has more than 76 years of experience in managing corporate pension schemes,

According to the MPF Annual Report 2013 published by Towers Watson, Manulife Provident Funds Trust Company Ltd has the second largest share in the MPF markets in Hong Kong.

Manulife’s commitment to service excellence is backed by the ISO9001 certification for their provident funds services and also the Silver Award in 2011 HKMA Quality Award.

Manulife's diversified account management platforms, including interactive voice response system and e-MPF Member Online Service, enable you to monitor your account.

Importantly ~ same day dealing is available for requests completed before 4:00pm on any business day with the buy and sell processes to be carried out using the closing fund price of that day.

Reasuringly, Manulife provides online monthly benefits statements with other member communications.

About Mandatory Provident Fund The MPF System

The MPF System is the “second pillar” of the multi-pillar retirement protection framework recommended by the World Bank. The key features of the MPF System include:

  • Coverage: All employees and self-employed persons aged 18 to 64, unless exempt under the Mandatory Provident Fund Scheme Ordnance (“MPFSO”), are covered by the MPF System, to which the employee’s employer must also contribute.
  • Exemption: Under the MPFSO, the following are exempt persons who are not required to join an MPF scheme:
  1. Person’s covered by statutory pension or provident fund schemes (e.g. civil servants, judicial officers, and teachers in subsidised or grant schools);
  2. Member’s of occupational retirement schemes regulated under the Occupational Retirement Schemes Ordinance (“ORSO”) (Chapter 426, Laws of Hong Kong) that are granted exemption under the MPFSO (i.e. MPF-exempted ORSO schemes);
  3. Person’s from overseas who enter Hong Kong for employment or self-employment for not more than 13 months; or who are members of retirement schemes of a place outside Hong Kong;
  4. Employee’s of the European Union Office of the European Commission in Hong Kong; domestic employees; and self-employed hawkers.
  5. Employee’s who are employed for less than 60 days, excluding casual employees as defined under the MPFSO are also exempt from joining an MPF scheme.
  • Mandatory contributions: An employee and his/her employer are both required to contribute 5% of the employee’s relevant income as mandatory contributions for and in respect of the employee to an MPF scheme, subject to a maximum relevant income level for contribution purposes (currently, $30,000 per month or $1,000 per day). An employee whose income is less than the minimum level of relevant income (currently, $7,100 per month or $280 per day) is not required to contribute. However, his/her employer is still required to make mandatory contributions for him/her. Self-employed persons also have to contribute 5% of their relevant income as mandatory contributions, subject to the minimum and maximum levels of relevant income for contribution purposes.

Payment examples

Relevant income: $15,000 per month
Employee The employee and the employer must each make mandatory contributions of $750 (5% of $15,000)
Self-employed person Mandatory contributions of $750 (5% of $15,000)
Relevant income: $40,000 per month
Employee Mandatory contributions by the employee and the employer limited to $1,500 each (5% of $30,000 maximum level of relevant income for contribution purpose). Additional amounts may be paid by the employee or the employer or both as voluntary contributions.
Self-employed person Mandatory contributions of $1,500 (5% of $30,000 maximum level of income for contribution purpose). Additional voluntary contributions may be made.
  • Vesting: Any mandatory contributions paid to an MPF scheme for and in respect of an employee and any investment return derived from the investment of the mandatory contributions are fully and immediately vested in the employee as accrued benefits (i.e. accumulated contributions and investment returns), except for those derived from the employer’s mandatory contributions which can be used for offsetting severance payments and long service payments. Similarly, contributions made by a self-employed person and the related investment returns are fully and immediately vested in the person.
  • Preservation of benefits: Accrued benefits derived from mandatory contributions must be preserved until a scheme member reaches the retirement age of 65 or satisfies other circumstances specified in the MPFSO, namely early retirement on attaining the age of 60, permanent departure from Hong Kong, total incapacity, terminal illness, small balance of $5,000 or less in an MPF scheme, and death.
  • Portability of benefits: When an employee ceases employment or changes jobs, he/she can transfer the accrued benefits from his/her contribution account to:
    a contribution account in his/her new employer’s MPF scheme;
    or an MPF personal account in any MPF schemes
  • Voluntary contributions: Contributions paid in excess of the mandatory amount are voluntary in nature. Employees and self-employed persons may make voluntary contributions to accumulate more accrued benefits for retirement. Employers may also make voluntary contributions for their employees.
  • Tax deduction: Subject to limits, mandatory contributions of employees and self-employed persons, and mandatory contributions made by employers for their employees are tax deductible.
  • Enforcement Against Non-compliant Employers: To protect employees’ rights and benefits under the MPF system, Mandatory Provident Fund Authority (MPFA) adopts various practicable means to enforce the law against non-compliant employers. In accordance with the MPF legislation, a surcharge calculated at 5% of the default contribution amount is imposed on employers who fail to make mandatory contributions for their employees on time. The surcharges received are credited into the relevant employees’ MPF accounts. After completing investigations into employers regarding contributions and surcharges in arrears, MPFA may pursue civil claims against the employers in substantiated cases. The MPFA is empowered to impose a financial penalty of $5,000 or 10 per cent of the amount of default contribution, whichever is greater, on a defaulting employer. Where sufficient evidence is available, prosecution may be initiated against employers who do not enrol their employees in MPF schemes, fail to make contributions for employees or do not comply with a court order to settle outstanding contributions. Upon conviction, defaulting employers are subject to a fine and imprisonment.

Types of MPF Funds

MPF Conservative Fund: Is a type of money market fund and generally described as a money market fund. All MPF schemes are required to offer an MPF Conservative Fund. All investments involve risks. This fund type is a low-risk fund, but its return may not beat inflation and may even be negative.

Risk Tolerance level – Relatively low

Equity Fund: There are usually three types of Equity Funds, those investing in a single market (e.g. Hong Kong Equity Fund, regional market (e.g. Asian fund) of global market. They invest mainly stocks listed on the stock exchanges approved by the MPFA.

Risk Tolerance level – Relatively high

Bund Fund: The bonds must meet the minimum credit rating or listing requirements prescribed by the MPFA

Risk Tolerance level – Low to medium

Mixed Assets Fund: Also know as balanced funds. Different Mixed Assets Funds have a proportion of stocks and bonds. In general, a greater proportion of stocks is associated with a higher level of risk. Labelling the fund “balanced” does not necessarily imply a 50-50 split between stocks and bonds in the fund’s assets. Some trustees also offer Target Date Funds, Life-Cycle Funds or asset rebalancing services to help scheme members adjust the proportion of various funds in their portfolios at different life stages.

Risk Tolerance level – Medium to high, depending on relative weight of different assets in the investment portfolio. In general, a greater proportion of stocks is associated with a higher level of risk

Guaranteed Fund: The funds two major types of guarantees, capital guarantees and return guarantees. Both capital and return guarantees can either be conditional or unconditional. For conditional guarantees, the guarantee conditions must be met to benefit from the guarantee. Guaranteed funds can be investment linked (i.e. the fund return is based on the performance of the funds assets), or non-investment linked (i.e. the fund return does not hinge on the performance of the fund assets). The guarantor has the right to retain the investment earnings if they exceed the guaranteed return. The retained investment earnings may be taken as guarantor’s profit.

Risk Tolerance level – Relatively low, but it also depends on whether the guarantee conditions are met when the MPF is withdrawn

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Product Brochure :

Member Booklet

  • provides an overview of our fund information and customer services

Fund Fact Sheet

  • provides a quarterly update of fund performance and general investment climate

Manulife Personal Account -
Privileged Rates Program Leaflet

The Mandatory Provident Fund (“MPF”) system was launched by the HK government in December 2000.

The MPF system is regulated and monitored by the Mandatory Provident Fund Schemes Authority (“MPFA”), the system aims to provide retirement support for the Hong Kong workforce.

Who should enrol?

Except those exempted, all employees and self-employed persons aged 18 to aged below 65, and are normally residing and working in Hong Kong, are required to participate in an MPF scheme, including:

  • Employees who have worked for 60 days or more (including full-time or part-time)
  • Self-employed persons who earn an income from the production or trade of goods or services not in the capacity of an employee
  • Casual employees who work in the catering or construction industries (even those who have worked fewer than 60 days)

According to the Mandatory Provident Fund Schemes Ordinance, the employer is responsible to enrol those referred above in an MPF scheme.

Both employer and your employer are required to make contributions based on the monthly relevant income*.

Note: Employee mandatory contributions are income tax deductible, subject to a maximum amount of HK$14,500 per year in 2012/13 and HK$15,000 per year in 2013/14 onwards.

Manulife Global Select (MPF) Scheme

Fund Type Fund Name Standard fee of Manulife GS (MPF) Scheme
Conservative Manulife MPF Conservative Fund 0.75% p.a. of NAV
Guaranteed Fund Manulife MPF Interest Fund 1.75% p.a. of NAV
Manulife MPF Stable Fund 1.90% p.a. of NAV
Bond Fund Manulife MPF Hong Kong Bond Fund 1.50% p.a. of NAV
Manulife MPF International Bond Fund
Manulife MPF Pacific Asia Bond Fund
Manulife MPF RMB Bond Fund 1.15% p.a. of NAV
Lifestyle Manulife MPF Growth Fund 1.90% p.a. of NAV
Manulife MPF Aggressive Fund
Manulife MPF Fidelity Stable Growth Fund 1.95% p.a. of NAV
Manulife MPF Fidelity Growth Fund
Target Date Fund Manulife MPF Smart Retirement Fund 1.90% p.a. of NAV
Manulife MPF 2020 Retirement Fund
Manulife MPF 2025 Retirement Fund
Manulife MPF 2030 Retirement Fund
Manulife MPF 2035 Retirement Fund
Manulife MPF 2040 Retirement Fund
Manulife MPF 2045 Retirement Fund
Regional Fund Manulife MPF Pacific Asia Equity Fund 1.90% p.a. of NAV
Manulife MPF Japan Equity Fund
Manulife MPF HK Equity Fund
Manulife MPF International Equity Fund
Manulife MPF North American Equity Fund
Manulife MPF European Equity Fund
Manulife MPF China Value Fund 1.95% p.a. of NAV
Sector Fund Manulife MPF Healthcare Fund 1.95% p.a. of NAV
Index Tracking Manulife MPF Hang Seng Index Tracking Fund 0.90% p.a. of NAV

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