CITY OF SAN FERNANDO -- Manulife Philippines and Manulife China Bank Life Assurance Corporation (MCBL) have made their term insurance offerings more affordable, so more Filipinos can access insurance protection, in light of the ongoing global pandemic.
Manulife Philippines has lowered the minimum premium for its one-year term product from P12,000 to P10,000, or as low as P28* per day. At P10,000 premium, a 30-year-old can enjoy life insurance coverage worth almost P3.5 million.
Customers can also renew this plan on an annual basis. Available in Philippine Peso and US Dollar, the one-year term product is now payable on a quarterly, semi-annual or annual basis, to make payments more flexible to customers.
For MCBL clients of China Bank Savings, the same features have been made to the term product Base Protect.
“Concerns about Covid-19 has made many of us realize the importance of protecting ourselves and our families. At the same time, the pandemic has also taken a toll on Filipinos’ personal finances," said Richard Bates, president and chief executive officer of Manulife Philippines.
Manulife Philippines has also lowered the minimum premium of its five-year term product, React5, which can now be availed for as low as P23 per day.
React5 comes with an Accidental Death Benefit to give Filipinos more protection coverage.
Customers can renew this plan every five years. They may also opt to convert to a regular insurance plan any time before they reach age 65. Available in Philippine Peso and US Dollar, React5 premiums can now be paid quarterly, semi-annually or annually as well.
This is also available to MCBL clients of China Bank and China Bank Savings through Base Protect Plus.
For more information about Manulife and MCBL’s term products, visit www.manulife.com.ph or www.manulife-chinabank.com.ph or get in touch with a licensed financial adviser. (PR)