Manulife USA Enhances Premium Financing Sales Tool Kit; Improved Kit Offers Advisors More Tools, More Ways to Educate Clients on Funding Life Insurance.

Business Editors

BOSTON--(BUSINESS WIRE)--March 24, 2004

Improving upon and expanding the tools made available to financial advisors, The Manufacturers Life Insurance Company (U.S.A.) (Manulife USA) has introduced an enhanced Premium Financing Sales Tool Kit. The tool kit, now with a broader array of advisor and client materials, is designed to help explain the uses of premium financing for life insurance.

Through premium financing, high net worth clients who need estate tax protection can avoid liquidating assets and investments by borrowing funds from banks to pay the premiums on Manulife Universal Life Insurance products. Clients can use the cash value of the policy as part of the collateral against the loan and can take advantage of current low interest rates, although the lender may require additional collateral from other liquid assets.

To demonstrate the concept of premium financing, Manulife USA's enhanced sales tool kit offers advisors a guide and sales strategy, concept profile, client profile and brochure, and a CD-ROM containing these materials and more.

"By choosing to fund life insurance through premium financing, the client can receive guaranteed protection without removing funds from well-performing investments or paying the income or capital gains taxes that might accompany this withdrawal," said Robert A. Cook, President of Insurance, Manulife USA. "The new sales tool kit makes these and other benefits easy for advisors to demonstrate to clients, helping them to engage high net worth clients in the estate planning process."

With Manulife USA's sales tool kit comes comprehensive support from one of the industry's leading Advanced Markets groups. To help advisors promote and sell this concept, the sales tool kit, including sales strategies, concept profiles, client profiles, case studies, and a CD-ROM, is available by contacting Advanced Markets at [phone], option 2 or via email at [e-mail].

About Manulife

Manulife USA is committed to offering the highest quality life insurance, pension, and individual wealth management products to its clients. Its family of products has been built around a powerful combination of investment options chosen with the goal of providing attractive risk-adjusted returns and broad diversification across asset classes, investment styles, and asset managers. With its extensive product lines, competitive underwriting, excellent ratings, and quality customer service, Manulife USA is dedicated to providing quality products designed to help create and preserve wealth for its clients.

Manulife Financial is a leading Canadian-based financial services group operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection products and wealth management services. Funds under management by Manulife Financial were US$121.2 billion (Cdn$156.7 billion) as at December 31, 2003.

Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '0945' on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

Manulife Financial and the block design are registered service marks and trademarks of The Manufacturers Life Insurance Company and are used by it and its affiliates including Manulife Financial Corporation.