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"Insurable interest" is a concept dealing with the legitimacy of a life insurance policy and its beneficiary. The intention of life insurance is to provide financial assistance to the beneficiary after the death of the insured. Most common beneficiaries are immediate family members, descendants, heirs, employers, established business partners and charities of the insured.

Beneficiaries may be designated as Revocable or Irrevocable.

 With Revocable Beneficiaries, owner CAN:

  • change beneficiaries; and
  • exercise all rights and privileges on the policy without the consent of the designated beneficiaries.

With Irrevocable Beneficiaries, owner CANNOT:

  • change beneficiaries; and
  • exercise any right or privilege on the policy without the consent of the beneficiaries, therefore: ALL POLICY CHANGES WILL HAVE TO BEAR THE SIGNATURE OF THE IRREVOCABLE BENEFICIARIES (must be of legal age).

Yes, you may change your beneficiary anytime as long as the policy is in force. If the current beneficiary is designated as irrevocable and is of legal age, his consent is necessary to effect the change. If the irrevocable beneficiary is a minor, he can only express his consent through a guardian duly appointed by the court.

The ownership automatically reverts to the insured.  If insured is a minor, he can only act in his capacity as owner through a guardian duly appointed by the court.

A policy can be assigned to any other person, bank or entity in consideration of a loan.

Below are the requirements for the purpose:

  1. Assignment/Release of Assignment Form duly signed by the owner and designated irrevocable beneficiary/ies, if there is/are any.
  2. Copy of the loan approval from the bank
  3. Copy of two valid IDs (e.g. passport, driver’s license)

Submit these documents to Client Services in order to process the request.

The assignee should accomplish the Assignment/Release of Assignment Form and submit the completed form to Client Services Department. If assignee is a corporation (e.g. bank), the form should be signed by the company’s authorized signatory. A copy of Secretary’s Certificate or Board Resolution and valid ID of the signatory are also required.


The ownership of a certain plan policy can be transferred to another person or company.

These are the requirements:

  1. Signed Transfer of Ownership Form
  2. Copy of ID both of the old and new owner
  3. Applicable processing fee
  4. Plan Application Form*
  5. Original plan contract
  6. Non-medical Form*  (for ages 51-above)

*Forms may be secured through your Servicing Agent or Financial Sales Associate. Those are also available at the Head Office or any Branch Office.

The policy owner of a permanent policy that earns cash value beginning on the end of the second or third policy year, depending on the insurance plan and the insured’s age when the policy was issued, can avail of a loan. The policy owner may obtain a loan for an amount not exceeding the Total Cash Value.  

Below are the requirements in availing of cash loan:

  1. Policy Loan Agreement Form duly signed by the insured/owner, irrevocable beneficiary/ies and assignee if there is/are any;
  2. Copy of latest ID of the policyowner and irrevocable beneficiary;
  3. An authorization letter signed by the insured/owner if a check loan will be released through a representative;
  4. A duly certified court order appointing and authorizing the guardian to obtain a loan if the irrevocable beneficiary is a minor; and
  5. Special Power of Attorney, if the policyowner is residing abroad, executed and duly authenticated by the Philippine Consulate nearest his place of residence.

Policy loan can be paid during the lifetime of the policy and at any amount convenient to the policy owner. The loan plus interest is indicated on the anniversary notice.

A Loan Repayment Schedule may also be requested. You may call our Customer Care at +632 8884 7000 or Toll Free Number 1-800-1-888-6268 or send an email to for the request.

All policy loan, whether cash or through premium loan are charged with interest computed at a fixed rate per annum. Interest is capitalized every policy anniversary and is compounded annually, if not paid.  If principal loan and interest are not paid on or before the policy anniversary, both will automatically become a new loan and interest will be charged accordingly.
If at any time the total amount of loan equals or exceeds the cash value, the policy will automatically terminate without any value on that date. In the event of a claim, the Company will deduct all loans and interest from the amount of proceeds under the policy.

If you own a participating policy, you are eligible to receive a policy dividend, an amount of money returned to the holder of a participating policy based on the company’s experience. Dividends are not guaranteed.

Whenever the performance of the Company is better than anticipated, assumed or projected, the policy owner participates in this good performance. Payment of a life insurance dividend indicates that the Company's operating expenses, risk selection and management experience have been better than expectations. Dividends are paid on a policy every anniversary beginning on the third or fourth policy year, depending on the product type.

Yes, you may request for an illustration that shows hypothetical policy performance over a number of years.  Illustrations demonstrate how a life insurance product works. Any annual dividends shown on the illustration reflect the dividend scale in effect when the illustration was created. The dividend scale is reviewed annually and it is very likely that dividends in future years will be higher or lower depending on the company’s actual experience.

No. Illustrations should not be used to project future performance, or as a means to compare products or companies. Dividend performance may and most likely will change over time. Illustrations are not intended to be and should not be used as estimates of future performance.

Purchase paid up additions if no other option is chosen.  These paid up additions have cash values and also earn additional dividends if the company declares any.

Reduce the premiums of your participating whole life insurance policy. Over a period of years the reduction can be considerable, making premium payments for your policy easier to handle.

Paid to you in cash. If you should choose this option, the company will send you a check each year.

Dividends can be left to accumulate interest at a rate set by the company.  The dividend accumulations may be used to pay any indebtedness or any premium due.  You may also wish to withdraw any accumulated dividends.

For a participating policy, dividends may be withdrawn depending on the dividend option elected in the application form.

To withdraw dividends, submit the following requirements:

  1. Request for Dividend Withdrawal Form duly signed by the insured/owner; and
  2. Copy of valid ID. 

To reinstate a lapsed policy:

1.    Pay all back premiums, interest and any other charges

2.    Accomplish the Reinstatement Form and submit to Client Services Department

 a. Reinstatement Form (for Life)

 b. Reinstatement Form (for Plans)

 c. Reinstatement Form (for Corporate)

Additional proof of insurability (e.g. medical examination) may also be required to reinstate the policy.

Note:  Life policy may be reinstated within three years from lapse date

          Plan policy may be reinstated within two years from lapse date

  • Change of Plan*

1.    Fill out the Application for Policy Change Form

2.    Fill out the Reinstatement Form

 a. Reinstatement Form (for Life)

 b. Reinstatement Form (for Plans)

 c. Reinstatement Form (for Corporate)

3.    Submit the accomplished forms duly dated, witnessed, signed by the policyowner and countersigned by irrevocable beneficiary/ies, if any, to Client Services Department.

4.    Additional premiums should be paid, if needed.

* Application for change in plan should be made within six months from issue date. This is done only once in a lifetime of a policy.

You may also write us a letter with your full name, policy number and correct address or send an email to

Fill out the Declaration of Loss form and submit it to your financial advisor.

Declaration of Loss Form

You Servicing Agent or Financial Advisor can provide details of your policy. You may also visit any of our Manulife office or call our Customer Care at +632 8884 7000 or Toll Free Number 1-800-1-888-6268.

You can also send written inquiry through our email address:

Your Servicing Agent or Financial Advisor may be reached through our trunk line +632 8884 7000 or Toll Free Number 1-800-1-888-6268.

A policyowner whose original agent has left the company will be assigned a new Servicing Agent or Financial Advisor. However, a policyowner can also request for a new Servicing Agent or Financial Advisor by sending Manulife a written request naming the new or preferred Servicing Agent or Financial Sales Associate and the reason for requesting the change.