Manulife, China Bank offer affordable insurance

The bancassurance joint venture between Manulife Philippines and China Banking Corp. is making life insurance more affordable, offering a coverage for one year for an annual premium of P299.

Manulife China Bank Life Assurance Corp. (MCBL) has launched SURESecure extending benefits including coverage worth P10,000 in the event of death or total and permanent disability as well as P30,000 in the event of accidental death and dismemberment.

Individuals between 18 and 60 years old could avail of SURESecure at China Bank Savings nationwide and be eligible for life insurance coverage without going through a medical examination.

China Bank Savings president Joey Ramos said the bank is pleased to have a very accessible insurance product available to its customers.

“Insurance coverage for one year that costs less than P1 a day will go a long way in case of unfortunate events. We encourage our customers to take advantage of this new product,” Ramos said.

MCBL provides China Bank customers with exclusive life insurance and investment solutions to address their financial needs.

MCBL received the green light from the Bangko Sentral ng Pilipinas in 2015 to offer its bancassurance products to China Bank Savings customers.

Financial products of MCBL are not insured by the Philippine Deposit Insurance Corp. (PDIC) and are not guaranteed by China Bank or China Bank Savings.

MCBL is a strategic alliance between Manulife Philippines and China Bank providing a wide range of innovative insurance products and services to China Bank and China Bank Savings customers.

The aim is to ensure that every client receives the best possible solution to meet his or her individual financial and insurance needs.

In 2014, China Bank raised its equity stake in MCBL to 40 percent.

Manulife Philippines, a unit of Manulife Finance Corp., has grown to become one of the leading life insurance companies in the country.