Manulife Philippines launched a product combining insurance protection and investment benefits which it claims specifically tailored for Filipinos on Monday.

“We custom-developed this based on research. We asked our customers about their needs,” Melissa Henson, chief marketing officer, said during the launch of My Vision Plan (MVP) in Makati City.

Henson said MVP is not available in other Manulife branches abroad.

The MVP product would enable customers to receive the following:

* guaranteed cash benefit in top of his/her investments
* guarantee in lifetime protection once the policy is fully paid
* the option to pay for a period of five, 10, 15 years
* guaranteed application for up to PHP1 million coverage

“There’s a certain value that the customers would receive whatever happens to the market,” Henson said, adding that a portion of the customer’s money is invested depending also on the type of investment that he or she would choose.

Henson reiterated that the guaranteed surrender value and the benefits would not be affected by market performance.

Once fully paid, the insurance protection would remain intact, she said.

Further, customers could also pick the pay period that would fit their goals, she added.

The MVP can be availed of for as low as PHP20,000 yearly. Those who would like to avail of the MVP would only have to make a simple health declaration, according to Henson. (PNA)