Manulife Hong Kong Launches Spectrum Universal Life Insurance Plan
New universal life solution combines whole-life protection, growth potential and stability in policy value, with safeguards and flexibility to support customers’ evolving priorities
For Immediate Release
November 12, 2026
Hong Kong — To help customers navigate changing priorities with greater flexibility, Manulife Hong Kong has launched the Spectrum Universal Life Insurance Plan (“Spectrum”), a Class A long-term life insurance plan that combines whole-life protection with growth potential, guaranteed safeguards and flexible premium arrangements.
Manulife and FT Longitude’s The New Fluidity research found that 66% of affluent Hong Kong respondents are redesigning their portfolios for more flexible lifestyles, while 48% have restructured their wealth planning in the past five years in response to changes in life stage or family structure. The findings point to growing demand for financial solutions that can adapt as customers’ lifestyles, family circumstances and life priorities change.
“As customers think more holistically about protecting their families and building a lasting legacy, they increasingly value solutions that can support both priorities over the long term,” said KC Cheung, Chief Product Officer of Manulife Hong Kong and Macau. “Spectrum brings together whole-life protection, opportunities for wealth accumulation and safeguards designed to provide greater stability in policy value. Importantly, its flexibility also allows customers to adapt their protection and planning as their priorities evolve through different stages of life. Through Spectrum, we are further strengthening our product proposition to support customers’ long-term protection and wealth planning needs.”
Spectrum provides customers with two accounts to support different planning needs: a Growth Account offering growth potential through an applicable Segment Crediting Interest Rate1, and a Fixed Account providing greater stability through interest credited at a rate that will not fall below the guaranteed Fixed Account Crediting Interest Rate. Customers can allocate between the two accounts and adjust the allocation over time, subject to the applicable terms and conditions and to Manulife’s approval.
Key features of Spectrum include:
- Flexible whole-life protection: Spectrum provides lifelong protection with flexible premium payment options. In the event of the death of the life insured, the death benefit2 is the higher of the policy’s account value or notional amount, subject to applicable deductions.
- Growth potential: The Growth Sub-Account comprises one-year segment(s), offering growth potential while providing a guaranteed 0% Segment Floor Rate. The Segment Crediting Interest Rate1 is subject to the applicable Segment Cap Rate.
- Enhanced stability and flexibility: Amounts in the Fixed Account earn daily interest at the Fixed Account Crediting Interest Rate1, subject to a guaranteed minimum crediting rate of 2% per annum. From the second policy year, customers may request to allocate and reallocate3 amounts between the Growth and Fixed Accounts. From the 11th policy year until the life insured reaches age 100, customers may also access funds as their needs change, up to the applicable Penalty Free Withdrawal Limit4—the limit is the lower of 5% of the account value at the previous policy anniversary, less withdrawals made in that policy year, or the Fixed Account value on the withdrawal date. All allocations, reallocations and withdrawals are subject to applicable terms and Manulife’s approval.
- Option to spread premium allocation over time: The optional Automatic Premium Spread5 (APS) feature allows allocations into the Growth Sub-account to be spread over up to 12 consecutive months, rather than allocating the whole amount at once.
- Built-in Minimum Surrender Value to safeguard your wealth: Upon surrender, customers will receive the higher of the account value or the Minimum Surrender Value, after applicable deductions. The Minimum Surrender Value is calculated based on net premiums accumulated at 2% per annum, less applicable charges.
- Flexible premium arrangements: Customers may choose an initial premium only, or an initial premium followed by flexible planned premiums within the first 5 or 10 policy years. Subject to the policy terms and sufficient account value to cover applicable charges, customers may also adjust, temporarily suspend or resume planned premium payments.
Beyond these features, Spectrum supports customers’ evolving protection and legacy-planning needs by offering added flexibility. Customers may change the life insured to another loved one6 or convert Spectrum7 to a designated plan for greater flexibility, subject to applicable terms and condition. Policy services8 including alternative death benefit settlement arrangements and the option to appoint a successive policyowner are also available.
With the introduction of Spectrum, Manulife is expanding its range of holistic insurance solutions to help customers protect their families, strengthen their long-term financial resilience and plan confidently for the future.
For details on the coverage, product features and risks, please visit the Spectrum Universal Life Insurance Plan webpage.
The content of this press release does not contain the full terms of the policy(ies), and the full terms can be found in the corresponding policy document(s). Before making a purchase, customers are encouraged to read the policy provisions for the exact terms and conditions that apply to this product.
Photo:
To help customers navigate changing priorities with greater flexibility, Manulife Hong Kong has launched the Spectrum Universal Life Insurance Plan that combines whole-life protection with growth potential, guaranteed safeguards and flexible premium arrangements. Pictured: KC Cheung, Chief Product Officer of Manulife Hong Kong and Macau.
1 Manulife Hong Kong will determine and declare the rate to be credited from time to time at their sole discretion. The Segment Crediting Interest Rate is subject to the applicable Segment Floor Rate and Segment Cap Rate under the Segment. The crediting interest for each matured Segment is equal to the Adjusted Segment Balance as at the applicable Segment Maturity Date, multiplied by the related crediting interest rate as determined by the Company.
2 The death benefit will be valued based on the day of receipt of the death claim request. Any policy debt and outstanding monthly charges due will be deducted from the death benefit in accordance with the policy provisions.
3 Account reallocation is subject to the following terms and the Company’s approval: (a) account reallocation is not allowed if this policy is in the grace period; and (b) if a new account reallocation request is submitted while a previously approved account reallocation is still being progressed, the new request will only be processed after the existing account reallocation has been fully completed.
4 If a withdrawal exceeds the applicable Penalty Free Withdrawal Limit, the amount exceeding the limit will reduce the Notional Amount by the same amount and may be subject to an applicable surrender charge. Any unused Penalty Free Withdrawal Limit cannot be carried forward to the next policy year. Please refer to the policy provisions for details.
5 An APS opt-in or opt-out election will apply to future amounts allocated or reallocated to the Master Holding Segment until a change request is submitted. All open Segments under the Growth Account will be terminated on the same date this policy terminates, and no interest will be credited to any open Segment if this policy is terminated before a Segment Maturity Date.
6 Policyowner may request to change the life insured one year after the issue date. When applying for a change of life insured: i. the policy shall be in force without any policy debt; and ii. the date of birth of the new life insured must not be later than the issue date and must satisfy the prevailing issue age requirements determined by the Company from time to time. Upon the change of life insured, the policy year date of this policy shall remain unchanged. Nonetheless, the Notional Amount Charge and Cost of Insurance Charge on page 3 of the policy provisions shall be adjusted based on the new life insured’s age, sex, residency code, risk classification and any additional rating on the effective date of the change, subject to the Company’s prevailing policies and procedures, underwriting requirements and regulatory requirements, including but not limited to the maximum and minimum notional amounts and issue age. There could be a case that the notional amount may vary significantly and/or additional premiums and levies thereof (if applicable) may be required. For the avoidance of doubt, the policyowner cannot request to increase the notional amount at any time. The policyowner may opt to reduce the notional amount by making a partial withdrawal, but such reduction will reduce the subsequent policy value and/or benefits. The time period indicated under the ‘Suicide’ provisions and ‘Incontestability’ provisions shall restart from the effective date of change. Acceptance of the new life insured is at the Company’s sole and absolute discretion and will depend upon the insurability of such life insured, including but not limited to the Company’s prevailing policies and procedures, underwriting requirements and regulatory requirements. For details, please refer to the ‘Change of Life Insured Provision’ in the policy provisions.
7 Starting from the 10th policy anniversary, policyowners may apply to convert their policy to a designated plan without providing further evidence of insurability of the life insured, subject to the Company’s approval and applicable terms and conditions. This option is only available if the age of the life insured at the time of application is below 75 and this policy is issued without any case-based exclusion or additional rating. Premium of the new plan will be determined based on the applicable premium rates at the time of conversion and the life insured's age, residency code and risk classification. Upon approval of the conversion request, the new plan will be issued, this policy will be terminated, and the applicable Net Surrender Value will be payable. This option may only be exercised once and, once exercised, cannot be reversed.
8 These are administrative arrangements and are not part of the product features. Applications for these services are subject to our prevailing administrative rules which shall be determined and modified by Manulife Hong Kong from time to time without prior notice. The acceptance of the application is at the Company’s sole and absolute discretion. Please refer to the relevant policy service leaflet for details on your rights and the restrictions applicable to these services.
About Manulife Hong Kong and Macau
Manulife Hong Kong has been a trusted name for more than 125 years, while we have served the Macau market for three decades. Since our operations began in Asia in 1897, we have grown into one of the top-tier providers of financial services, offering a diverse range of protection and wealth products and services to over 2.6 million customers in Hong Kong and Macau. We are committed to helping make decisions easier and lives better for our customers.
Manulife Hong Kong and Macau, through Manulife International Holdings Limited, owns Manulife (International) Limited, Manulife Investment Management (Hong Kong) Limited, and Manulife Provident Funds Trust Company Limited. These entities are all subsidiaries of Manulife Financial Corporation.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as ‘MFC’ on the Toronto, New York, and Philippine stock exchanges, and under ‘945’ on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
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