Manulife International, a member of the Manulife Financial, has launched new investment-linked insurance plan, Alpha, with flexible choice of premium-payment periods of 10, 15, 20 and 25 years.
The insurer said Alpha, a payment flexibility insurance plan, offers three types of bonuses throughout the policy term such as the welcome bonus, the step up bonus and the loyalty bonus.
According to the Manulife, customers can reduce or suspend premium payment, or make withdrawal from the accumulation account without charges after the first 24 months upon policy inception.
Customers can switch between the 27 investment choices that Alpha offers, free of charge, with no bid-ask spread or front-end charges.
Manulife International vice president of individual financial products George Chew said Alpha is a long-term, ‘forward-thinking’ investment-linked product aimed at helping customers accumulate wealth for retirement and savings for their children’s education through regular long-term investments.
"Regular-premium allows customers to accrue benefit from long-term investment while retaining flexibility in premium payment to better handle any financial ups and downs," Chew said.
According to the Manulife, Alpha has a benefit period of up to age 100. Premium contributions can be made in either Hong Kong or US dollars, monthly or annually.