Manulife is excited to introduce Manulife Future Shield, an innovative health protection plan designed to offer lifelong security and financial support for individuals while securing a legacy for their families. This pioneering whole life plan addresses the challenges of an aging population and the financial pressures experienced by the sandwich generation. It provides key benefits including lifelong protection, a withdrawal benefit, guaranteed policy issuance, and no medical check-up requirements. Manulife Future Shield aims to redefine retirement planning, set new standards for protection, and enhance financial resilience.
• Manulife Future Shield is a pioneering health protection plan providing lifelong security and financial support for individuals.
• Addressing the challenges of an aging population and the financial distress of the sandwich generation, the plan offers lifelong protection, a withdrawal benefit, guaranteed policy issuance, and no medical check-up requirement.
• With a focus on affordability and income protection, Manulife Future Shield offers an innovative solution to help individuals prepare early and access funds in times of need, ensuring lifelong security and peace of mind.
The aging population in Malaysia presents a growing concern as people live longer and face the challenge of managing increasing living costs over time. Millennials (aged 28-43), who make up a significant portion of the workforce, are part of the “sandwich generation,” juggling financial responsibilities for both their parents and their children. With the cost of living and inflation expected to rise over the next 20 to 30 years, relying solely on the Employee Provident Fund (EPF) has proven insufficient. Many Malaysians find that their EPF savings are depleted within the first five years of retirement.
“We are thrilled to launch Manulife Future Shield, a game-changing protection plan that addresses the evolving needs of individuals and families at every stage of life,” said Vibha Coburn, Chief Executive Officer at Manulife Malaysia. “Manulife Future Shield is an innovative product that addresses our customer’s health protection during their retirement years. The product will also be an additional solution that complements their existing plans.”
Manulife’s recent Asia Care Survey, conducted in March 2024 with responses from 1,038 Malaysians, highlighted a significant concern: many Malaysians lack confidence in achieving their long-term savings goals. To better prepare for increased longevity, retirement, and unexpected medical expenses, respondents identified their primary long-term financial objectives as being completely debt-free (39%), having savings for emergencies (38%), achieving financial freedom (34%), securing a passive income in retirement (32%), and having adequate savings for healthcare (28%). With life expectancy in Malaysia rising to an average of 77 years, up from 71 in 1990, the need for effective long-term planning has never been more critical.
Key Benefits of Manulife Future Shield:
1.Whole Life Protection: Manulife Future Shield offers lifelong protection until the age of 99, ensuring that policyholders have the security and peace of mind they need throughout their entire lives.
2. Withdrawal Benefit: The plan provides a withdrawal benefit that serves as a financial support during the prime and golden years of policyholders, where rising expenses such as healthcare, and nursing care come into play, enabling them to enjoy their retirement without financial worries.
3. Hassle Free Enrollment: With Manulife Future Shield, individuals can secure their future with guaranteed policy issuance, providing them with the confidence and assurance that their protection plan is in place. Unlike many traditional insurance plans, Manulife Future Shield does not require a medical check-up, making it easier and more accessible for individuals to obtain the protection they need.
“Manulife Future Shield offers key benefits designed to help individuals prepare early and address affordability through both income and health protection. This solution provides an accessible avenue for funds in times of need, serving as an alternative to policy loans or surrendering policies. The consistent level of insurance protection ensures policyholders stay safeguarded, benefiting not only themselves but also their loved ones,’ explained Ricky Lim, Chief Product Officer.
The launch of Manulife Future Shield marks a major achievement for Manulife as it continues to develop innovative solutions that address the varied needs of its customers. This new plan is now available for purchase through Manulife’s network of financial advisors.
Click HERE to view the Manulife Future Shield Brochure.
For more details about Manulife Future Shield, please click HERE.
All the information and images are provided by Manulife.
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