Manulife has launched La Vie, a whole life insurance offering that provides savings and life protection under different economic conditions and customer life stages. It comes with shorter-term payment options, guaranteed income throughout one’s lifetime and long-term wealth building potential.

The company claims that the La Vie’s guaranteed cash payments offers customers a stable income that will cover fixed expenses, unexpected needs or emergencies in the daily life. Each cash payment, payable every two years starting from the sixth policy anniversary, is equivalent to 6% of the face amount of the purchased policy.

According to Manulife, the whole life savings plan also provides customers with options to meet different needs at different life stages, wherein customers can pay off their policies, in either eight or twelve years.

La Vie includes features such as guaranteed cash payments for lifetime periodic income up to age 100; life-long protection, that is protection up to age 100; short payment term such as 8-year (La Vie 8) or 12-year (La Vie 12) premium paying period options; and long-term wealth building with emergency cash.

George Chew, vice president and head of individual financial products at Manulife, said: “In a turbulent market environment such as we have experienced over the last couple of years, customers crave security and peace of mind. La Vie provides this: with its life-long protection and income, which helps customers to secure their protection and build wealth at the same time.”