MFC Expands Retirement Products Suite - Analyst Blog

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Manulife Financial Corporation ( MFC ) has broadened its retirement product portfolio as Manulife Investments introduced Manulife RetirementPlus. Manulife Investments is the brand name of certain Canadian subsidiaries and operating divisions of Manulife Financial.

Manulife RetirementPlus is meant for that group of the population which is five to fifteen years away from their retirement age. 

The product has been designed in such a way so as to provide the triple benefits of savings, preservation and income. 

The product carries a flexible contract which will provide the customers with savings growth through equity participation which will tap in the benefit of rising interest rate. They also have an option of getting a guaranteed lifetime income. 

The product consists of three stages. In the first stage, called the savings phase, the customers will get full benefit of equity market, while at the same time they will get the benefit arising of rising interest rates. The second phase called the preservation phase will enable customers get a future guaranteed income.The final and the third stage allow customers to draw their retirement income from the age of 50.

The plan will be made available to the customers from Oct 28, 2013 onwards.

This initiative by the company reflects its efforts to grow the Canadian retirement business segment. Along with product diversification, the company has expanded its distribution reach by welcoming new advisors, extending existing relationships and enhancing support to its distribution partners.

Manulife currently retains a Zacks Rank #3 (Hold). 

Other players offering a broad range of retirement products are Prudential Financial Inc. ( PRU ), MetLife, Inc. ( MET ), Sun Life Financial Inc. ( SLF ) among others.



METLIFE INC (MET): Free Stock Analysis Report

MANULIFE FINL (MFC): Free Stock Analysis Report

PRUDENTIAL FINL (PRU): Free Stock Analysis Report

SUN LIFE FINL (SLF): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: MET , MFC , PRU , SLF

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