In response to the growing and increasingly diverse demand for savings and wealth planning solutions in Hong Kong, Manulife Hong Kong has introduced two new participatory life insurance-based savings plans. The newly launched products—Genesis Centurion Insurance Plan and Prestige Achiever Insurance Plan—aim to provide customers with long-term wealth accumulation, flexible cash withdrawals, and financial support during major life events.
Casey Chang, Chief Product Officer of Manulife Hong Kong and Macau, explained, “These plans are designed to give customers greater control over their savings and investments while ensuring they have access to necessary financial support during key life events. Our objective is to offer both long-term financial security and liquidity in times of need.”
The introduction of these plans aligns with insights from the recent Manulife Asia Care Survey, which found that 70% of respondents in Hong Kong perceive longevity and financial health as interconnected, while 61% consider insurance crucial for maintaining physical well-being. These findings underscore the relevance and timing of the new offerings.
Key Features of the New Plans
| Plan Name | Objective | Main Benefits | Projected Premium Return | Special Features |
|---|---|---|---|---|
| Genesis Centurion | Long-term wealth accumulation | Choice of multiple policy currencies; flexible withdrawals | ~4× surrender value at year 25, ~6× at year 31, ~8× at year 35 | Terminal bonus up to 100% for critical illness or mental health conditions |
| Prestige Achiever | Near-term cash value | Guaranteed cash value of 83% from day one | Up to 4.6% IRR in year 10 | Regular non-guaranteed income from year 2; special bonus for critical illness |
The Genesis Centurion Plan primarily targets long-term wealth growth. Policyholders can select from seven different currencies, with the option to switch currencies once from the third policy anniversary. The plan also offers customised withdrawal options and periodic income alternatives, making it easier to address unexpected financial needs.
In contrast, the Prestige Achiever Plan focuses on building cash value quickly. Policyholders can access up to 83% of guaranteed cash value from the first day. Projected internal rates of return (IRR) can reach a maximum of 4.6% within ten years, supporting short-term financial goals. Additionally, the plan provides non-guaranteed regular income from the second year and a special bonus in the event of critical illness.
Manulife’s launch of these plans represents a significant step in helping Hong Kong residents balance “savings” and “protection”. With rising living costs, increasing life expectancy, retirement planning needs, and potential financial impacts of health risks, these products set a new benchmark for integrated wealth and insurance solutions.