SINCE getting old is inevitable, China Bank has tied up with Manulife Philippines to provide clients with the best solutions to meet their financial and insurance needs.

Eduardo Arcenas Jr., financial sales associate of China Bank Divisoria branch, said the tie-up has resulted in the offering of Manulife Chinabank Life Assurance Corporation's MoneyMax 20 Plus, an endowment plan that allows depositors of China Bank to enjoy a lot of guaranteed returns of their savings within 20 years.

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For a 37-year-old depositor, Arcenas said he or she can avail of the MoneyMax 20 Plus program with a monthly deposit of only P1,334.59 for 10 years.

"This is a long-term deposit program of China Bank wherein the client would only need to deposit the amount in a monthly basis, which can be paid either in five years, 10 years or 20 years. After which, the depositor would have a guaranteed cash payout of P10,000 starting on the 11th year if the depositor opts to pay it in 10 years with a guaranteed death benefit of P200,000 even at the start of the program," Arcenas said.

Aside from getting guaranteed death benefits and cash payout, he said depositors are also given accumulated dividends at an estimated share of seven percent.

The MoneyMax 20 Plus provides guaranteed maturity benefit equal to 100 percent of the depositor's life insurance coverage when he or she outlived the 20-year period and a guaranteed cash payout, which is an option the client can choose to get on a more regular basis while he or she is still alive.

Arcenas said the guaranteed cash value may be borrowed by the depositor against his or her policy in case of financial emergencies.

He added that policy holders will also be covered against 35 critical illnesses such as heart attack, coronary artery bypass surgery, heart valve replacement, surgery of the aorta, stroke, benign tumor, kidney failure, cancer, coma, terminal illness, occupational acquired human immunodeficiency virus (HIV), paralysis, blindness, among other illnesses.

"This product gives you the much-needed funds to answer your immediate and future needs, may it be for emergencies, children's education, retirement, major purchases and other needs," he said.

Arcenas said with the MoneyMax 20 Plus, getting old should not be a worry to everyone.

Established in 1920, China Bank offers a wide range of banking services through its more than 200 branches and over 200 ATMs nationwide. It was the first bank in Southeast Asia to process deposit accounts on-line in 1969 and the first Philippine bank to offer phone banking in 1988.

Meanwhile, Manulife Philippines is a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. It offers a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. It is a wholly-owned domestic subsidiary of Manulife Financial Corporation, North America's largest life insurance company by market capitalization. As of December 31, 2009, funds under management by Manulife Financial and its subsidiaries were Cdn$440 billion (US$420 billion).