In Brief: Manulife Tops $1B in Sales for New Annuity

Published March 08, 2007, 2:00 a.m. EST

Updated March 07, 2007, 4:57 p.m. EST

1 Min Read

Manulife Investments, a unit of Manulife Financial Inc., announced it surpassed $1 billion of sales in 19 weeks after introducing Canada’s first guaranteed minimum withdrawal benefit annuity.

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IncomePlus, which Manulife launched in Canada in October, provides guaranteed monthly payments. It is currently the only annuity in Canada with a guaranteed minimum withdrawal benefit.

Manulife Financial, which is based in Toronto, had $355 billion of assets under management as of Dec. 31. It made the announcement on Tuesday.

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