Capital for Life · Adviser Reference Document
Manulife Global Indexed UL PRO
HNW & UHNW Clients · Issued from Bermuda · LIFE-6272 02/26 · Data verified June 2026 · For professional adviser use only
HNW & UHNW Clients · Issued from Bermuda · LIFE-6272 02/26 · Data verified June 2026 · For professional adviser use only
An Indexed Universal Life (IUL) policy is a long-term, whole-of-life insurance contract issued offshore by an international life insurer. The policy wraps a life assurance component around a tax-deferred cash value account, which is linked to the performance of one or more equity indices such as the S&P 500 and the Nasdaq-100. The policyholder selects from available account strategies — fixed, capped indexed with a 0% floor, or capped-and-multiplied indexed with a guaranteed buffer rate — and may allocate premiums across them in any combination.
The asymmetric core of the design is the segment-level downside protection. On floor accounts, in years when the linked index falls, the indexed account is credited at zero rather than recording the loss. On the buffer account unique to MGIUL PRO, Manulife absorbs the first 20% of negative index performance — only losses in excess of the buffer pass through. Upside participation is capped annually on all indexed accounts, creating a risk/return profile that is well suited to HNW and UHNW clients focused on long-duration accumulation, estate planning, and tax-efficient* income access in retirement.
* Tax treatment depends on the individual client's circumstances and the laws of their country of residence. This is not tax advice.
Founded in Toronto on 23 June 1887, The Manufacturers Life Insurance Company (Manulife) is one of the world’s largest life insurance and financial services groups, with over 138 years of continuous operation. As at 31 December 2025, Manulife held assets under management and administration of approximately C$1.7 trillion (US$1.2 trillion). Manulife Bermuda, established in 1893, is one of the longest-running international high-net-worth issuing platforms in the industry and is the issuing branch for Manulife Global Indexed UL PRO.
MGIUL PRO is issued by The Manufacturers Life Insurance Company (Bermuda Branch). The Bermuda Branch is not a separate legal entity from the Canadian-domiciled parent — The Manufacturers Life Insurance Company remains directly obligated under the policy contracts. The same financial strength ratings and capital adequacy that apply to the parent entity flow through to MGIUL PRO policyholders without intermediation.
The Manufacturers Life Insurance Company holds a LICAT ratio of 136% as at 31 December 2025, well above OSFI’s supervisory target of 100%. The operating entity carries financial strength ratings of S&P AA−, Moody’s Aa3, AM Best A+ (Superior, affirmed December 2025), Fitch AA, and Morningstar DBRS AA — a consistently top-tier multi-agency profile across the cycle.
Source: Manulife Q4 2025 Earnings Release; Manulife 2025 Annual Report; S&P Global; Moody’s; AM Best; Fitch; DBRS Morningstar. LICAT data as at Q4 2025 (most recent published). See Sources section for full reference URLs. Data verified June 2026.
The three tables below set out the full MGIUL PRO contract parameters — core terms, account strategies and rates, and policy features and flexibility — referenced throughout this review.
Rates current as at the LIFE-6272 02/26 publication (December 2025 declared rates). Illustrated rates are not guaranteed.
Illustrated rates and product specifications shown are not guaranteed and are not a forecast of future returns. Refer to the official product documentation for full assumptions.
MGIUL PRO carries two structurally distinct forms of segment-level downside protection. On the S&P Performance, Nasdaq Performance and Blended Indexed Accounts, a guaranteed 0% floor applies - index losses are absorbed by the floor and the indexed account is credited at zero in those years. The policy value is not reduced by negative index movement on these accounts (policy charges continue to apply). On the S&P PRO Indexed Account, a guaranteed -20% buffer applies - Manulife absorbs the first 20 percentage points of negative S&P 500 performance; only losses in excess of that buffer pass through to the credited rate.
Same +18% S&P year on the S&P Performance Account (0% floor): 18% capped at 9.30%, × 1.24 = 11.53% credited; IPC of 0.0833%/month applies. Same -28% S&P year on the S&P Performance Account: 0% credited (0% floor applies; no negative crediting on this account).
The buffer is structurally distinct from the floor. Within the buffer band, the S&P PRO Account behaves like a floor account; beyond it, the client absorbs the residual loss. The trade-off - accepting tail-risk exposure beyond -20% in exchange for a higher cap, no IPC and the multiplier - is the central design choice on MGIUL PRO and should be explicitly framed for the client.
Manulife's own 20-year backtest (December 2025 declared rates applied to historical indices) records, on the S&P PRO Indexed Account, 45 segment terms protected by the -20% buffer against 4 segments where the buffer was breached and 122 segments hitting the cap, with an 8.48% average annualised return.
Hypothetical illustration. Past performance is not a guarantee of future results. Policy charges apply in all years regardless of index performance.
MGIUL PRO offers four indexed accounts and one fixed account. Premiums and account values can be allocated across any combination. The S&P PRO Indexed Account is unique to MGIUL PRO and is the headline economic feature of the product.
Tracks the S&P 500 (100%) on an annual point-to-point basis, excluding dividends. The segment growth rate is enhanced by a guaranteed 15% index-performance multiplier, applied to the capped, participation-adjusted return at segment maturity. Critically, the S&P PRO Account does not carry the Index-Performance Charge — the multiplier is delivered without the 0.0833% monthly deduction that applies on the S&P Performance and Nasdaq Performance accounts. In a cap year, the 12.00% return becomes 13.80% credited after the multiplier is applied.
A Fixed Account sits alongside the indexed strategies, currently crediting 4.75% with a contractual minimum of 1.00%. Interest compounds daily at the declared rate. Transfers to the indexed accounts can be made at any time subject to the lock-in date — three business days prior to the 15th of the month. Transfers from indexed accounts back to Fixed are only permitted at segment maturity. An automated monthly transfer facility is available for dollar-cost averaging at issue or during the policy term.
MGIUL PRO carries two guaranteed index-performance multipliers, each tied to a specific account. On the S&P PRO Indexed Account, a 15% multiplier is applied — guaranteed for as long as the account continues to be offered. On the S&P Performance and Nasdaq Performance Indexed Accounts, the higher 24% multiplier is applied to the floored, capped, participation-adjusted return at segment maturity. Each multiplier is contractually guaranteed; neither is a declared rate that can be reduced inside the contractual minimum.
Funded by the higher cap (12.00%) and the buffer-rate downside design — no Index-Performance Charge on this account.
The multiplier is delivered without the 0.0833% monthly deduction that applies on the S&P Performance and Nasdaq Performance accounts.
Funded by the Index-Performance Charge of 0.0833% per month (1.00% per annum), deducted from the policy value in all months including down years.
The IPC is deducted in all months — including years when the account credits 0%.
The economic difference between the two multiplier accounts is in the cost mechanism. For long-duration accumulation cases — particularly multi-pay structures and premium-financed designs where lender modelling depends on long-run net crediting performance — the combination of multiplier and absent IPC on the S&P PRO Account is the principal economic feature differentiating MGIUL PRO from peer carriers' IUL products and from MGIUL 24. In lower-return years the multipliers scale accordingly — neither produces credit when the underlying segment is at 0%.
MGIUL PRO includes three contractual protections that operate independently of index performance and account allocation — a minimum return guarantee on full surrender, a lapse protection window in the early policy years, and a continuation provision that keeps the policy in force beyond age 121 provided funding is sufficient.
Applies at full surrender only. The Cumulative Guarantee ensures the policy value will grow at a minimum average annualised rate of return of 3.00% (less policy charges) regardless of allocation or index performance. It does not increase amounts available for partial withdrawals, loans or transfers, but sets a floor for the Cash Surrender Value calculation and the Minimum Death Benefit. In low-return scenarios it functions as a long-stop on policy value drift, particularly relevant in adverse multi-decade cap and floor outcomes.
Base face amount coverage will not lapse for the first five policy years even if cash surrender value falls to zero or below, provided minimum-premium requirements are met and policy debt does not exceed policy value. If the Return of Premium rider is elected, the early-lapse protection period reduces to two years. Withdrawals, loans and acceleration of the Critical Illness benefit affect the protection. Following payment of the Critical Illness or Terminal Illness benefit, a 60-month default-protection window applies in place of standard early-lapse protection.
Provided funding is sufficient at attained age 121, the policy will remain in force until the insured's death. From age 121: no further premiums are accepted; no further policy charges are deducted (other than loan interest); interest continues to accrue on the policy value; loan repayments are accepted on existing loans; new loans and withdrawals are not permitted; and any Supplemental Face Amount coverage terminates.
The Accelerated Death Benefit for Critical Illness Rider (form 25MGABRC) accelerates a portion of the policy's death benefit on diagnosis of a covered Critical Illness condition. The rider does not provide a separate Critical Illness sum assured. The benefit is a draw against the existing death benefit, paid as a single lump sum, and reduces the Death Benefit, Policy Value, Cash Surrender Value, Cumulative Guarantee Policy Value and any applicable Death Benefit Protection Value pro rata to the acceleration.
Coverage is restricted to four severe and end-stage conditions, each with stringent diagnostic thresholds.
Stage IV only — confirmed by histological evidence. Leukemias and lymphomas excluded unless non-responsive to treatment. Tumours in the presence of HIV excluded.
Death of heart muscle resulting in NYHA Class IV functional limitation or LVEF < 30%, persisting at least 6 months after the event.
Permanent neurological deficit such that the insured cannot perform at least 2 of the 6 Activities of Daily Living for a continuous 6-month period, supported by imaging.
Defined by specific clinical thresholds — including Ejection Fraction persistently < 30%; FEV < 30% and PaO₂ < 50 mmHg; eGFR < 15 ml/min/1.73 m² with ACR > 300 mg/g; or end-stage liver failure with permanent jaundice, ascites and hepatic encephalopathy.
There is no premium charge or monthly deduction for the rider itself. On payment of the accelerated benefit: the Death Benefit, Total Face Amount, Policy Value and Cumulative Guarantee Policy Value are reduced; Cost of Insurance Charges are recalculated on the lower Net Amount at Risk; surrender charges arising solely from the related decrease in Base Face Amount are waived; any future increases in death benefit payable under supplementary benefit riders are cancelled; and the Early-Lapse Protection feature terminates. For 60 months following payment, the policy will not go into default solely because Net Cash Surrender Value falls to zero or below.
In illustration walkthroughs, the displayed Critical Illness figure represents a potential draw against the death benefit at the point of claim — it is not a fixed Critical Illness sum assured. Misframing this as a defined CI payout creates client expectation risk; advisers should explicitly position the rider as an accelerated death benefit feature.
Optional. Reduces surrender charge on full surrender in years 1–5 (75% waiver year 1, grading to 15% year 5, 0% thereafter). No direct charge; +0.2% premium charge years 1–5. Must be elected at issue. CVE benefit applies only to a full policy surrender — not to face decreases, partial withdrawals or loans.
Optional, available at issue with Death Benefit Option 1 only. Provides an additional insurance amount equal to a percentage of premiums paid (up to 100%), in addition to the death benefit. Available to attained age 100. With ROP elected: face increases not permitted, no-penalty withdrawal not available, early-lapse protection reduces from 5 to 2 years.
Optional, must be selected at application. Permits change of insured to another person with insurable interest, without surrender and reissue. Available for corporate, trust and individually owned policies. New insured's birth date must not be later than the policy issue date. Traditional underwriting required; original insured must be living at the time of change.
Available to all applicants regardless of age, elected at application with no additional underwriting. On terminal illness with life expectancy ≤ 1 year: 100% of policy value (less debt) up to US$2,000,000. Death benefit and policy value reduced by benefit paid; 60-month default-protection window following payment.
Preferred and Standard Smokers receive Standard Non-Smoker policy charges for the first three policy years. To maintain non-smoker charges beyond year 3: evidence of having quit smoking for ≥ 12 consecutive months and a micro-urinalysis free of nicotine or metabolites. Issue ages 20–70 only; not available for substandard ratings.
A design feature, not a rider. Provides more competitive multi-pay premium solves and stronger cash value accumulation potential by applying decreased premium charges, supporting flexible premium scheduling. POP is the default starting point for HNW/UHNW cases prioritising multi-pay funding flexibility.
Policy Loans — Policy loans are available at any time after the policy is in force. The rate of interest charged is variable but is contractually guaranteed never to exceed the rate of interest credited on the loan account balance by more than 1.25% per annum (net interest cost). Outstanding loans and loan interest reduce the death benefit.
Partial Withdrawals — Partial withdrawals are available after the first policy year, minimum US$10,000, deducted first from the Fixed Account, then the holding account, then proportionately from indexed account segments. A one-year lock-out on new indexed segments applies after an unscheduled indexed withdrawal.
No-Penalty Withdrawals — From the start of policy year 11, up to 5% of the policy value may be withdrawn per year without reducing the face amount and without a pro-rata surrender charge. This no-penalty feature is not available with the ROP rider or with Death Benefit Option 2.
Year 1: 6.0% · Year 2: 5.1% · Year 3: 4.2% · Year 4: 3.3% · Year 5: 2.4% · Year 6+: 2.0%. An additional 0.2% applies in years 1–5 if the CVE rider is elected.
Monthly per US$1,000 of BFA for the first 15 policy years. Varies by issue age, gender, underwriting risk class and residency code.
Monthly per US$1,000 of Net Amount at Risk. Current rates guaranteed for first 3 policy years; thereafter guaranteed not to exceed 120% of current COI rates (or contract maximum).
0.0833% per month of policy value in the S&P Performance and Nasdaq Performance Indexed Accounts only. Does not apply to S&P PRO, Blended or Fixed.
Grades down over 15 years: 100% in year 1, declining to 7% in year 15, 0% from year 16. Applied pro-rata on face decreases and qualifying partial withdrawals; not applicable for no-penalty withdrawals.
Variable. Contractually guaranteed never to exceed the credited rate on the loan account balance by more than 1.25% p.a. (net interest cost).
Capital for Life uses Manulife Global Indexed UL PRO as the foundation for a suite of named planning strategies, each designed for a specific HNW or UHNW client objective. The 12.00% cap, 15% multiplier and absent IPC on the S&P PRO Indexed Account, combined with the 24% multiplier accounts and the Blended diversifier, make MGIUL PRO particularly well suited to long-duration accumulation cases where engineered net crediting and lower premium solves drive the planning outcome.
Matching this profile does not constitute a suitability assessment for any individual client. Suitability depends on facts, objectives and circumstances not assessed here.
Structured, tax-efficient* income in retirement via policy loan access. The 15% multiplier and 12.00% cap on S&P PRO and the 24% multiplier on S&P / Nasdaq Performance accounts together support strong long-term cash value performance across a 20–30 year drawdown horizon.
Ongoing policy loan strategy for clients who require regular liquidity without triggering a disposal or chargeable event — preserving the policy's death benefit and cash value growth over the long term. The Cumulative Guarantee floor (3.00% on full surrender) provides a long-stop on cash value drift.
Multi-pay premium structure (Premium Option Plus) for HNW families seeking long-term estate protection and intergenerational wealth transfer inside a trust or family office. Accelerated Death Benefit for Critical Illness adds a contingency layer for the lead insured.
Corporate-owned IUL providing key person indemnity cover with accumulating cash value as a corporate asset. The Change of Insured rider (selected at application) is particularly valuable in succession-planning contexts and on a controlled departure of the original insured.
These planning frameworks are provided for adviser orientation only. They do not constitute a personal recommendation for any individual client or structure.
* Tax treatment depends on the individual client's circumstances and the laws of their country of residence. This is not tax advice.
Each strategy is structured individually. Capital for Life does not offer generic solutions — every case is designed around the client's objectives, jurisdiction, and planning horizon.
The −20% buffer applies only to the S&P PRO Indexed Account. Manulife absorbs the first 20 percentage points of negative S&P 500 performance: an index return of −15% credits at 0% on the account, an index return of −22% credits at −2%, an index return of −30% credits at −10%. The 0% floor on the S&P Performance, Nasdaq Performance and Blended Indexed Accounts is structurally different — it never produces a negative credited rate regardless of the index loss. The buffer is a deliberate trade-off: in exchange for tail-risk exposure beyond −20%, the client receives a higher cap (12.00% versus 9.30%) and a multiplier without an account-level IPC.
Because the funding mechanism is different. The 24% multiplier on S&P Performance and Nasdaq Performance is funded by the Index-Performance Charge (0.0833%/month, ~1.00%/yr) deducted from the policy value held in those accounts in all months including down years. The 15% multiplier on S&P PRO is funded by the higher cap (12.00% versus 9.30%) and the buffer-rate downside design — there is no Index-Performance Charge on S&P PRO. The two accounts serve different planning frames; the choice between them is a function of the case, not of which multiplier is numerically larger.
MGIUL PRO is typically the better choice where the planning case is driven by long-run net crediting performance — multi-pay structures, premium-financed designs, and overfunded accumulation cases where the higher cap and the absence of an IPC drag on the S&P PRO Account materially improve modelled outcomes. MGIUL 24 (with its 0% floor on all indexed accounts) is the better choice where downside immunity at the segment level is the priority, or where the client's risk tolerance does not extend to absorbing tail losses beyond a buffer. The two products share the same issuer, jurisdictional eligibility, charges chassis, riders, and Cumulative Guarantee.
No. The S&P PRO Indexed Account does not carry the Index-Performance Charge. The 0.0833% monthly IPC applies only to the S&P Performance and Nasdaq Performance Indexed Accounts. The Blended and Fixed Accounts do not carry the IPC. The absence of an IPC on S&P PRO is a structural feature of MGIUL PRO and is one of the principal reasons the product supports lower premium solves than MGIUL 24 in many planning frames.
The Cumulative Guarantee ensures that, regardless of allocation or index performance, the policy value will grow at a minimum average annualised rate of 3.00% (less policy charges) — but applies at full surrender only. It does not increase amounts available for partial withdrawals, loans or transfers. It functions as a long-stop on cash value in adverse multi-decade outcomes and may also increase the Minimum Death Benefit and Cash Surrender Value at the point of full surrender.
No — and this distinction is material. The Accelerated Death Benefit for Critical Illness Rider accelerates a portion of the existing death benefit on diagnosis of one of four severe conditions (Cancer with Metastasis Stage IV, Severe Heart Attack, Stroke with Severe Impairment, or Permanent Damage to Heart, Lungs, Liver or Kidneys). The maximum payable is the lesser of 80% of Policy Value (less debt) or US$5,000,000, paid as a single lump sum, paid once. Death Benefit, Policy Value and Cumulative Guarantee Value are reduced accordingly. Advisers should not position this as a defined CI sum assured.
Yes. MGIUL PRO is particularly well suited to premium-financed IUL strategies — the higher 12.00% cap on S&P PRO, the 15% multiplier delivered without an IPC, and the long surrender period combine to support lender collateral modelling under most scenarios. Capital for Life has structured premium-financed cases on the MGIUL chassis across multiple jurisdictions and can supply scenario analysis for lender review.
Yes. The policy is widely used inside offshore discretionary and loan trust structures and is compatible with common law trust frameworks under Bermuda's BMA-regulated infrastructure. Bermuda Master Trust, sub-trust, PIC and individual ownership routes are all permitted (subject to jurisdictional eligibility under Manulife Bermuda's residency code and policy ownership flyers). The Change of Insured rider supports succession planning within trust- or corporate-owned structures.
Manulife also offers MGIUL 24, the floor-account sister product on the same chassis. It is referenced here for cross-linking with the dedicated MGIUL 24 Adviser Reference — this guide should be relied upon for MGIUL PRO cases. The two products share the same issuer, jurisdictional eligibility, charges chassis, and rider architecture.
MGIUL 24 is positioned for clients who prioritise segment-level downside immunity — a true 0% floor on every indexed account — and who do not require the engineered upside of the S&P PRO Account. Where the planning case is dominated by long-run net crediting performance, MGIUL PRO is typically the more efficient platform.
Refer to the MGIUL 24 Adviser Reference for full documentation. Capital for Life can supply side-by-side suitability comparisons for any specific case on request.
This document is an introduction. The resources below provide the technical depth behind every point covered here.
Carlton Crabbe's in-depth, independently scored review of Manulife covering financial strength, capital adequacy, product innovation, underwriting flexibility and global reach. Required reading before any Manulife Bermuda recommendation.
capitalforlife.com/manulife-review →Capital for Life's annual independent survey benchmarking IUL products across carriers, crediting rates, multiplier mechanics, and HNW adviser preferences.
capitalforlife.com/iul-buyer-survey →Companion guide to this document covering the floor-account sister product on the same chassis. Use for cases where segment-level downside immunity is the planning priority.
capitalforlife.com/mgiul-24 →Adviser-facing technical briefing on the Accelerated Death Benefit for Critical Illness Rider — covered conditions, claim mechanics, and positioning guidance.
capitalforlife.com/mgiul-ci-rider →Capital for Life is an international life insurance advisory specialising in Indexed Universal Life and Private Placement Life Insurance for HNW and UHNW clients. Led by CEO Carlton Crabbe, the firm works with financial advisers, tax specialists, trustees, private bankers, fiduciaries and family offices across the UAE, UK, Europe, Africa, Asia and Australia.
Our approach is consistent: understand the client, analyse the structure, build a solution that endures. We support advisers with technical resources, underwriting support, illustration analysis and CPD-eligible training programmes.
Contact Capital for Life with client age, premium amount, pay track, and preferred allocation to receive a personalised MGIUL PRO illustration including Guaranteed Values, Non-Guaranteed Values, and Alternative Assumptions reports.
Arrange a call or meeting with Carlton Crabbe to discuss account selection, jurisdiction, trust integration, allocation rationale, ownership structure (including Manulife Bermuda Master Insurance Trust sub-trust), or premium financing options.
Applications are submitted through your regulated adviser of record. Capital for Life provides full case management, financial underwriting support, and Supplemental Disclosure handling throughout the issue process.
capitalforlife.com · Adviser enquiries welcome · For illustration requests and case support contact Capital for Life directly.
The financial strength data, ratings, and regulatory information in this document are sourced from the following primary and independent sources, verified June 2026.
MLI LICAT 136% (Q4 2025); MFC LICAT and group capital position
https://www.manulife.com/en/investors.html →AUMA C$1.7 trillion (US$1.2 trillion) at year-end 2025; total invested assets and segregated funds
https://www.manulife.com/en/investors.html →MLI LICAT 138% as at 30 September 2025; financial leverage ratio 22.7%
https://www.manulife.com/en/investors.html →FSR A+ (Superior) affirmed; stable outlook
https://web.ambest.com →S&P AA−; Moody's Aa3; AM Best A+; Fitch AA; Morningstar DBRS AA — for The Manufacturers Life Insurance Company. As at 31 March 2026
https://www.manulife.com/en/investors/financial-info/financial-results.html →Primary issuer reference for MGIUL PRO — defines the S&P PRO Indexed Account, the −20% buffer rate, the 15% multiplier, and includes 20-year backtest performance data on all four indexed accounts (December 2025 declared rates applied)
Shared-chassis reference for interest crediting, charges, riders and policy mechanics applicable to MGIUL PRO
Shared-chassis specifications reference for current rates, charges, issue parameters and riders
Shared-chassis policy contract specimen — definitive source on policy terms, charges and contract mechanics. PRO-specific endorsements available on request from Manulife
Rider terms, eligible conditions and Eligible Death Benefit calculation
Life Insurance Capital Adequacy Test — supervisory framework applicable to The Manufacturers Life Insurance Company
https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/life-insurance-capital-adequacy-test-guideline-2025 →All financial strength data as at 31 December 2025 unless otherwise stated. LICAT figures sourced from OSFI-mandated filings. AUM converted to USD at approximate CAD/USD rate of 0.71. Manulife Global Indexed UL PRO declared rates current as at the LIFE-6272 02/26 publication; cap rates and the Fixed Account crediting rate are subject to change at the issuer's discretion. Data verified June 2026.
Important Information and Disclaimer. This document has been prepared by Capital for Life Ltd (Company No. 12976386) for distribution to professional financial advisers, trustees, regulated introducers and qualified investors only. It does not constitute financial advice, a personal recommendation, or a solicitation to buy or sell any financial product. This document is not directed at retail clients.
The figures shown for Manulife Global Indexed UL PRO are based on contract parameters and declared rates current as at the issuer publications referenced in the Sources section. Cap rates, the guaranteed index-performance multipliers, the Fixed Account crediting rate, COI rates, premium charges and loan rates are not guaranteed beyond the contract minima and are subject to change by the issuer. Past or hypothetical performance does not guarantee future results.
The 15% guaranteed index-performance multiplier applies to the S&P PRO Indexed Account only; the 24% guaranteed multiplier applies to the S&P Performance Indexed Account and the Nasdaq Performance Indexed Account only; each is guaranteed only as long as the relevant account continues to be offered. The Index-Performance Charge of 0.0833% per month applies only to the S&P Performance and Nasdaq Performance Accounts — it does not apply to the S&P PRO, Blended or Fixed Accounts. The −20% guaranteed buffer rate applies only to the S&P PRO Indexed Account; segment losses in excess of the buffer pass through to the credited rate. The 0% floor applies to the S&P Performance, Nasdaq Performance and Blended Indexed Accounts. The Cumulative Guarantee applies at full surrender only and does not increase amounts available for withdrawals, loans or transfers.
Manulife Global Indexed UL PRO is issued by The Manufacturers Life Insurance Company (Bermuda Branch), a branch of a Canadian-domiciled company incorporated under the laws of Canada, regulated in Bermuda by the Bermuda Monetary Authority. The Manufacturers Life Insurance Company is regulated in Canada by the Office of the Superintendent of Financial Institutions (OSFI). MGIUL PRO is not available to citizens or residents of the United States or Bermuda, or to residents of Canada; further jurisdictional restrictions apply. Tax treatment depends on the individual circumstances of each client and the laws of their country of residence. Advisers are responsible for obtaining independent tax and legal advice for each client and jurisdiction.