Manulife Launches Segregated Investment Pools for Wealthy

By Andrew Rickard | October 03 2014 01:22PM

Manulife Financial is adding an insurance-based private investment pool to its product lineup. On October 6, the insurer will launch its Manulife Private Investment Pools (MPIP), an institutional-style investment vehicle aimed at the high net worth market.

All life-licensed financial advisors will be able to offer the segregated fund product, which Manulife says will help them "retain and attract affluent clients". There will be fourteen segregated pools, with a minimum deposit of $150,000 per pool, per contract. The product offers a 75% maturity benefit and a 75% death benefit, as well as management fee reimbursements and household contract-linking. As part of the MPIP, Manulife is also offering a client proposal service, comprehensive reporting, and high-end marketing material.

With the launch of the MPIP, the company’s InvestmentPlus Elite sales charge option will be closed to new contract sales effective 4 pm (Eastern Time) on October 3, 2014. "Clients holding existing GIF Select contracts can still make deposits to the InvestmentPlus Series funds in the Elite sales charge option," says the insurer. "This sales charge option continues to be available for existing and new EstatePlus contract sales."

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