1. GIF Select IncomePlus Like your own personal pension plan
Stéphane R. Dieujuste, CIM
District Vice President, Manulife Investments

2. Defined Contribution Pension Plan Defined Benefit Pension Plan
GIF Select IncomePlus
Defined Contribution Pension Plan
Defined Benefit Pension Plan
Pre-defined contributions throughout working years
Pre-defined benefit in retirement
Typically, investor has fund choice
No fund choice allowed by investors
Not inflation protected
Often provides inflation protection
Investor is responsible for turning savings into income
The plan generates income in retirement
Income for as long as the savings last
Income for life
Years ago, some lucky Canadians had defined benefit pension plans, but those are nearly extinct now. Most often, large unions and government workers are fortunate enough to have defined benefit pension plans. The big selling point for these plans is that the benefit in retirement is known – typically the benefit is based on a formula of years of service and age. The income amount never decreases, but often has some type of inflation protection built in, so income can increase.
With defined contribution pension plans, the end benefit isn’t known. Usually, the employee and employer contribute to the plan during working years, then the employee takes the accumulated amount and removes it from the plan to purchase some type of income stream. Depending on the product chosen, the income may go down in retirement.
These days, having any pension plan at all is a big advantage as many Canadians have no employer sponsored retirement benefits at all

3. The right fit for your portfolio
Guaranteed Lifetime Income Sources
Non-Guaranteed Income Sources
Product Categories
QPP & OAS Defined Benefit (DB) Pensions
Annuities
GMWB – Guaranteed Minimum Withdrawal Benefit
SWP
Defined Contribution Pensions
Mutual Funds
Segregated Fund Contracts
Stocks
Bonds
Bank or insurance GICs*
Income Protection
Protected
Protected & Variable
Variable
Participation in Markets
Non-Participating
Participating
When determining the right mix of products within the three product categories for an optimal Retirement Sustainability Quotient (RSQ), we need to consider both guaranteed and non-guaranteed sources of income.
The Guaranteed Income Sources include all sources of guaranteed lifetime income such as annuities, defined benefit pension plans, and government pensions such as CPP & OAS. These investments are completely secure and can provide guaranteed income for life. These investments do no participate in the market and cannot take advantage of market growth, however, on the flip side the market volatility has no impact on these investments.
Guaranteed income for life
Pre-determined amount of income each month
Market volatility protection
Interest rate fluctuation protection
Not liquid
No control over how assets are invested
Another guaranteed income source is a GMWB – These are hybrid products – that provide downside protection while allowing client to potentially increase their income by participating in market growth.
Growth potential to help income keep up with inflation
Control over how assets are invested
Predictable, sustainable and potentially increasing income stream
Guaranteed income for life – for IncomePlus, available at January 1st age 65 for (January 1st in the year the younger spouse turns age 65 for the Joint Life Payout Option)
Non-Guaranteed Income Sources –Traditional Products that offer Systematic Withdrawal Plan to provide an ongoing income stream. These products are completely variable and most participate in the markets, with the exception of a GIC which is a fixed interest rate.
SWP offer::
Long term growth potential
Can keep up with inflation
Flexible monthly income
Investment can continue to grow if performing at a higher rate than the rate of withdrawal
Income not guaranteed 3

4. Retirement risks and challenges
INFLATION
Decrease buying power of savings
LONGEVITY
Outlive life savings
VOLATILITY
Poor market returns
HEALTH CONCERNS
Can you afford to become ill?
Canadian’s born into the “baby boom” generation (or as we’ve seen earlier today generation I), who are approaching or already in retirement, face risks and challenges that differ from previous generations. Accordingly, these present and future retirees need to plan carefully.
Inflation over the long-term, inflation can significantly erode buying power (a basket of goods that cost $100 today will cost $180 in just 20 years from now
Longevity compared to previous generations, both male and female Canadians can expect to live longer lives and could spend as much time in retirement as they did working
Volatility if an investor experiences poor market returns early in retirement this may have a dramatic impact on how much income they can continue to take or how long it will last.
Health can boomers afford to get ill? What happens if your client needs to withdraw a large lump sum form their investment portfolio to pay for medical treatment – can they still afford to retire?
Asset allocation can help with some of these risks, but it can not guarantee that your clients savings will provide them with sustainable income that can last throughout your retirement years. 4 4

5. The Retirement Risk Zone – 5 to 10 years before and after retirement
ACCUMULATION (SAVINGS)
RETIREMENT DATE
RETIREMENT (PAYOUT)
RETIREMENT RISK ZONE
Key Statement:
During retirement, the interplay between an investor’s rate of withdrawal and their Sequence of Returns can have a dramatic impact on a portfolio’s overall ability to last.
TRANSITION TO NEXT SLIDE:
In the next few slides, I am going to illustrate how a portfolio that experiences poor early returns can run out of money during retirement, whereas a portfolio experiencing strong early returns can last for many more years and maintain a high market value
Let’s look at the case of two individuals who retire at different times, with all other factors being exactly the same, and how the Sequence of Returns their portfolios experience in those crucial first years produce two very different outcomes
Next Slide
The period of time where you are most vulnerable to market downturns
Affects how much you retire with and how long it will last 5 5

6. Create your own sustainable retirement income
Before I get into discussing Manulife’s GIF Select IncomePlus, I want to talk to you about a major change that has been happening over the recent years in numerous companies throughout North America and one that may ultimately affect many of you who will be transitioning into retirement in the next years
It was always said that Defined Benefit Pension Plans were the ultimate reward to an employee for many years of service by providing a guaranteed level of income along with the security of knowing the money would last as long as they lived
However, what we’ve known as the traditional type pension plan is quickly fading into the sunset as more and more of the large and mid-sized corporations are shifting their pension strategies to put the responsibility of creating a sustainable retirement income onto the employees
Since Defined Benefit Pension Plans require the employer to fund any shortfalls, the risk of market volatility, along with the fact that many retired Canadians are beginning to live longer, healthier lives, are increasing the costs to these companies and many of them have decided to switch to Defined Contribution Pension Plans.
Defined Contribution Pension Plans have pre-determined employee contributions, as well as contributions made by the employer
However, these plans fail to offer one very important benefit – a guaranteed income for life
TRANSITION TO THE NEXT SLIDE:
With the demise of the Defined Benefit Pension Plan, investors are looking for a solution that will help them to create a predictable, sustainable, and potentially increasing income that will last for life

7. GIF Select IncomePlus IncomePlus
Provides predictable, sustainable income that will last for life (5%) or the lives of two spouses (4.5%)
Allows access to the market value of the investments in the case of an emergency
ALSO
Any residual benefit can be passed to beneficiaries
Income not reduced on death of first spouse (for the Joint Life payout option)
Potential resets on every 3 year anniversary date
IncomePlus provides many of the benefits of defined benefit pension plans
An income floor (predictable income)
Income for life
The possibility of inflation protection (i.e. resets and bonuses can increase income)
Without the disadvantages most people associate with them
Investors have access to cash if required (i.e. in case of an emergency) and can choose the funds they invest in
Keep in mind
Exceeding the withdrawal thresholds may have a negative impact on future income payments
Withdrawals prior to the LWA Eligibility Date will reduce the GWB Benefit Base proportionally and may have a negative impact on future income payments. The Lifetime Withdrawal Amount becomes available on January 1st of the year the annuitant or the younger of the annuitant and the Joint Life (if applicable) turns age 65.
The Joint Life must be the spouse (as defined by the Income Tax Act (Canada) ) of the annuitant. Exceeding the withdrawal thresholds may have a negative impact on future income payments. Maturity and Death Benefit Guarantees reduced proportionally for withdrawals. Maturity Guarantee available on December 31st of the annuitant’s 100th year or earlier where required by legislation. Withdrawals may be subject to fees.

8. Terms to know GuaranteedWithdrawalBenefit (GWB) Benefit Base
Lifetime Withdrawal Amount (LWA)
Here are some of the key terms that will be used in the next part of this presentation that are important to learn:
Guaranteed Withdrawal Benefit Benefit Base (GWB Benefit Base)
Initially set to 100% of the deposit value, increases with deposits and is one of the factors used to calculate the Lifetime Withdrawal Amount (LWA)
Is NOT reduced for Lifetime Withdrawal Amount withdrawals
ONLY reduced proportionally for withdrawals exceeding the Lifetime Withdrawal Amount OR and/or withdrawals taken prior to the Election of LWA
Lifetime Withdrawal Amount (LWA)
Single Life Payout Option
Available on January 1st of the year you turn age 55
% of the GWB Benefit Base annually ( % is dependant of what age the LWA was elected), not eligible to continue after the annuitant’s death
Joint Life Payout Option
Based on the lives of you and the life of your spouse*
Available on January 1st of the year the younger of you or your spouse turns age 55
* The Joint Life must be the spouse or common-law partner [as defined in the Income Tax Act (Canada)] of the annuitant at the time of election of the Joint Life Payout Option. Only one person can be named as the Joint Life and may not be changed
Income Bonus
Increase to the GWB Benefit Base in each year the IncomePlus Series funds are held, if no withdrawals are taken. Available for the life of the contract
Increase is equal to 5% of the GWB Benefit Bonus Base, Income Bonuses are not cash deposits; they increase the amount that is guaranteed for withdrawal
Next Slide
Income Bonus

9. Lifetime Withdrawal Amount – Payout Percentages
Annuitant Age (on Dec 31st)
Single Life LWA
Joint Life LWA* 4%
3.5% 5%
4.5%
75 + 6%
5.5%
The Lifetime Withdrawal Amount is available for election starting January 1 the year the annuitant or the younger of the annuitant or the joint Life turns age 55
Clients can choose to defer taking income past age 55 and take advantage of higher payout percentages at older ages.
Lifetime Withdrawal Amount is available for both Single Life Payout option and the Joint Life Payout Option
*Based on the age of annuitant, or younger of annuitant and Joint Life (if applicable)

10. Lifetime Withdrawal Amount – Single Life Payout Option
Available on January 1st of the year you turn age 55
An amount based on the GWB Benefit Base annually and the elected payout percentage
not eligible to continue after your death
Available for election on January 1st of the year you (as annuitant) turn age 55
Elected % of the GWB Benefit Base annually, not eligible to continue after your death
TRANSITION TO NEXT SLIDE:
If you want to ensure your spouse will continue to receive an income for life, IncomePlus offers a Joint Life Payout Option* as well
Next Slide
Disclaimer:
Exceeding the withdrawal thresholds and/or withdrawals taken prior to the Election of LWA (Lifetime Withdrawal Amount) may have a negative impact on future income payments.
* The Joint Life must be the spouse or common-law partner [as defined in the Income Tax Act (Canada)] of the annuitant at the time of election of the Joint Life Payout Option. Only one person can be named as the Joint Life and may not be changed
Exceeding the withdrawal thresholds and/or withdrawals taken prior to the Election of LWA (Lifetime Withdrawal Amount) may have a negative impact on future income payments. The LWA becomes available for election on January 1st of the year the annuitant or the younger of the annuitant and the Joint Life (if applicable) turns age 55. Other conditions may apply.

11. Lifetime Withdrawal Amount – Joint Life Payout Option
Available on January 1st of the year the younger of you or your spouse turns age 55
An amount based on the GWB Benefit Base annually and the elected payout percentage
This Joint Life Payout Option for LWA must be elected at the time of the initial contract set-up and cannot be changed once the Joint life is named.
Based on the lives of you and your spouse*
Available on January 1st of the year the younger of you and your spouse turns age 55
Based on Elected payout percentage % and the GWB Benefit Base annually
Next Slide
Disclaimer:
Exceeding the withdrawal thresholds and/or withdrawals taken prior to the Election of LWA (Lifetime Withdrawal Amount) may have a negative impact on future income payments
Only one person can be named as the Joint Life and may not be changed
* The Joint Life must be the spouse or common-law partner[as defined in the Income Tax Act (Canada)] of the annuitant at the time of election
Exceeding the withdrawal thresholds and/or withdrawals taken prior to the Election of LWA (Lifetime Withdrawal Amount) may have a negative impact on future income payments.
The Lifetime Withdrawal Amount becomes available January 1st of the year the annuitant or the younger of the annuitant and the Joint Life (if applicable) turns age 55. The Joint Life must be the spouse [as defined by the Income Tax Act (Canada)] of the annuitant at the time of election of the Joint Life Payout option. Only one person can be named as the Joint Life and may not be changed. Other conditions may apply.

12. Lifetime Withdrawal Amount (LWA)
Example: $200,000 deposit at age 65, a 5% Single Life Payout option and a 4.5% Joint Life payout option
Single Life (5%)
Joint Life * (4.5%)
Lifetime Withdrawal Amount
$10,000
$9,000
Income Eligibility Age
Annuitant must be 55 to begin LWA
Both spouses must be 55 to begin LWA
Latest Age to Deposit
Deposits to age 80 of the annuitant
Deposits to age 80 of the oldest spouse
Income Continuation
Upon death – death benefit proceeds to beneficiary
Upon 1st death - $9,000 LWA continues to surviving spouse
Lifetime Withdrawal Amount in summary
Single Life payout option and Joint Life Payout option
Income Continuation simplified:
Single Life – at Annuitant’s death, contract proceeds go directly to beneficiary, no option to continue income.
Joint Life - one spouse dies, surviving spouse continues to receive same income for life, uninterrupted (no recalculation of LWA done as with previous spousal continuation)
Successor annuitants cannot be named to GIF Select contracts that have the IncomePlus series regardless if it is single life or joint life
What about if someone didn’t need to start drawing income as soon as it was available or what if they wanted to wait until later in life? What does that look like? Next slide transition
*The Joint Life must be the spouse or common-law partner (as defined by the Income Tax Act (Canada)) of the annuitant at the time of election of the Joint Life Payout Option. Only one person can be named as the Joint Life and may not be changed 12

13. Income bonus
5% Income bonus added to your guaranteed income, for ANY year income is not taken
Increase to the GWB Benefit Base in each year the IncomePlus Series funds are held, if no withdrawals are taken. Available for the life of the contract
Increase is equal to 5% of the GWB Benefit Bonus Base,
Income bonus is not a cash deposit
Next Slide
Bonuses are not cash deposits, they increase the amount that is basis for calculating the guaranteed income amounts.

14. Power of Income Bonuses and deferring Income Example: $200,000 initial investment
Retirement Age / Payout Rate
Income Bonuses
GWB Benefit Base
Annual Lifetime Withdrawal Amount
Percentage of Initial Investment
55 years old / 4% payout rate $0
$200,000
$8,000 4%
65 years old / 5% payout rate
$100,000
$300,000
$15,000
7.5%
75 years old / 6% payout rate
$400,000
$24,000
12%
A payout rate example for a 55 year old....
Invested $200,000 in IncomePlus / single life payout
unsure of retirement date
Wants to keep options open
Will receive a 5% income bonus per year each year income not taken
Assuming no market growth, the LWA income could increase to $24,000 per year
Income bonus is received in years when no withdrawals made
The new payout rates gives the option when the investor is younger and does not have to decide now
If the investor has options to take income from other sources and could wait to take a higher income
Through the power of the income bonuses and the higher LWA payout rate she could wait until 75 and receive an annual LWA of $24,000, that is 12% per year of his initial investment
Tri-annual resets could increase her amount even higher, this example assumes low or flat market conditions
This option gives flexibility to younger clients to chose income at younger ages and gives options to increase income if clients wait to older ages to take income.
Assumes a down or flat market and no withdrawals have been taken. Assumes that Single life payout option and initial investment at age 55

15. Death Benefit Guarantee
Guarantees named beneficiaries 100% of deposit value
Reduced proportionally by withdrawals
Can potentially be increased
The Death Benefit Guarantee (DBG) provides 100% of the deposit value upon the sufficient notification of death of the last surviving annuitant, and is paid in lump-sum to the named beneficiary(ies) on the contract
Proportionally reduced by withdrawals
It helps protect your savings should you pass away in a down market and can provide a ‘top-up’ to the beneficiary if the market value is below the Death Benefit Guarantee at the time of death
In the event of your death, your investment bypasses your estate which means the investment proceeds pass directly to the named beneficiaries, without the time delay and expense of probate* and public record**. (*The term ‘Probate’ does not apply in Quebec) ( **Except in Saskatchewan).
Note: Proceeds are payable to the beneficiary when both spouses have passed away for the Joint Life Payout Option
Next Slide
Resets to GWB and Death Benefit guarantee only occur when market value is higher than the existing guarantee. Resets to the death benefit guarantee end at age 80.

16. IncomePlus Reset Automatically resets the:
Death Benefit Guarantee
GWB Benefit Base and
GWB Bonus Base
to the market value, if higher, every third anniversary
An automatic IncomePlus Reset of the Death Benefit Guarantee (DBG), GWB Benefit Base, and GWB Bonus Base to the market value, if higher, every third IncomePlus anniversary*
* The last Death Benefit Guarantee reset is on your (the annuitant) 80th birthday
Disclaimers:
GWB Benefit Base and GWB Bonus Base resets are available until contract maturity (December 31st the year the annuitant turns 100 years of age)
Next Slide
Resets only occur when market value is higher than the existing guarantee. Resets to the Death Benefit Guarantee end at age 80.

17. Diversified investment choice
Here are a list of all the partner companies that have joined Manulife in making GIF Select IncomePlus the success that it is. They include 8 of the top 10 fund companies in Canada.
A broad selection of award winning funds that boast top Morning Star Ratings and Lipper Fund Awards; a breadth of fund companies, fund managers, and fund choices to choose from to suit your retirement needs
Next Slide 17

18. Easy to understand client statements
Your IncomePlus statement will show:
how your IncomePlus funds are performing
the guaranteed income available
the description and the values of all your contract guarantees
Manulife sends you statements on a semi-annual basis, in a format that is easy to read, and allows you to see the value of all your guarantees

19. IncomePlus in action – Case studies
The best way to see the real value in this product is to take a look at it in action
Let me walk you through two of the most common scenarios:
Income Later and
Income Now
And we’ll see what they look like in both an up and down market
Next Slide

20. GIF Select IncomePlus – Income Later
IncomePlus was the first product of its kind in Canada
Features that could benefit pre-retirees:
5% Income bonus
Automatic resets to lock-in market gains every 3 years
100% Death Benefit Guarantee (proportionally reduced by withdrawals)
For pre-retirees who are planning for their retirement, IncomePlus is a great solution as it offers these investors a way to grow their guaranteed income in two ways:
The Income bonus that is guaranteed each year income is deferred, even if markets are down, and
The IncomePlus Reset which can lock-in the potential market growth every 3 years when markets are performing well
The bonus is available each year following the initial deposit to the IncomePlus Series, provided no withdrawals are taken. Bonuses are not cash deposits, they increase the basis for calculating the guaranteed income.

21. GIF Select IncomePlus – Income Later
Income Later – How it works
Income Later – How it works
Let’s first look at a case of an investor who is years away from their retirement, and is looking for income later

22. Income later Carol, age 45 20 years away from retirement
$200,000 in non-registered assets
Carol is 45 years old and 20 years away from retirement; she has saved $200,000 in non-registered assets
Next Slide
Assumes a Single Life Payout Option

23. Income later: Up market scenario
Portfolio Market Value
$840,954
IncomePlus Reset
GWB Income bonus
$731,265
$42,048 minimum guaranteed income for life 5% x $840,954
GWB Benefit Base
$582,414
$498,677
$36,563 Bonuses
$417,917
$29,121 Bonuses
$24,934 Bonuses
$314,670
$200,000
$231,266
$20,896 Bonuses
In this example Carol benefits from the IncomePlus Resets on her GWB Benefit Base that occur automatically every three years.
$15,733 Bonuses
$11,563 Bonuses
$10,000 Bonuses
Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
After year 20
For illustration purposes only. Hypothetical portfolio consists of 60% Globe Canadian Equity Peer Index and 40% Globe Canadian Bond Peer Index. Calendar year returns from 1989 to Returns have been adjusted for an annual IncomePlus Fee of 0.65%. Performance histories are not indicative of future performance. Assumes a Single Life Payout Option.

24. Income later: Down market scenario
$400,000
Portfolio Market Value
$10,000 Income bonus
GWB Benefit Base
5% Bonuses for 20 years
$20,000 LWA
$200,000
In this example, Carol’s initial deposit establishes a GWB Benefit Base of $200,000.
Even in a down market, Carol's GWB Benefit Base grows to $400,000 through the annual Income bonus of $10,000 for the first 20 years.
That’s a 100% increase in the guaranteed income!
With the 20 years of Income bonuses, the annual LWA available to Carol January 1st the year she turns 65 will be $20,000 (five per cent of $400,000) for LIFE
Key Statement:
Although Carol’s investment portfolio is actually worth less than her initial deposit of $200,000 by the time she turns 65, the income bonuses she received for those 20 years have resulted in her GWB Benefit Base doubling to $400,000 providing her with a $20,000 income guaranteed for life
TRANSITION TO NEXT SLIDE:
In this case, the markets never performed well enough for Carol’s investments to grow over the 20 year period. Let’s now look at Carol’s case once again in a market that over time, performs well
Next Slide
Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
After year 20
For illustration purposes only. Assumes a Single Life Payout opton Portfolio markets values are hypothetical and not indicative of future performance.

25. GIF Select IncomePlus – Income now
Income Now – How it works
Income Now – How it works
For investors who are now moving into the income phase, or for those already drawing a retirement income, IncomePlus guarantees an income for life available January 1st in the year the annuitant or the younger of the annuitant and the Joint Life (if applicable) turn age 55
This Lifetime Withdrawal Amount will protect them from down markets as the income they receive will be guaranteed for as long as they live, and with the Joint Life Payout Option, can guarantee the payments continue onto their spouse once they pass away
If markets perform well over time, the IncomePlus Reset will help to lock-in the gains and potentially increase the Lifetime Withdrawal Amount for future years as well as increase the Death Benefit Guarantee

26. IncomePlus and RRIFs
The previous examples showed you some scenarios of how IncomePlus can work with your non-registered assets, and many of you will most likely use your RRSP’s as a major source for the income you will need at retirement. So let me now show you how powerful IncomePlus is inside your RRSP and RRIF and how it can provide you with an income for life
Once you convert your RRSP into a RRIF (mandatory at age 71) legislation requires you to withdraw a certain amount of money from your RRIF each year based on the previous year’s end market value and your age
Each year the RRIF Minimum percentage is increased and goes as high as 20% per year
As years go by, the RRIF minimum may exceed the amount IncomePlus will guarantee

27. RRIF Minimum Schedule 2010 Age General 71** 7.38% 75 7.85% 80 8.75% 85
10.33% 90
13.62%
94 or older
20.00%
Have a look at the RRIF minimum schedule to understand how this increasing percentage may at some point exceed the Lifetime Withdrawal Amount
One of the reasons Income Plus works extremely well inside a RRIF is that it will pay you the HIGHER of the RRIF Minimum for that year OR the 5% LWA (5% assuming income is elected between ages 65 and 74 and a Single Life Payout option has been chosen)
The Lifetime Withdrawal Amount may be exceeded as long as the RRIF minimum is not exceeded
Note that the GIF Select RRIF minimum amount is based on the contract as a whole as is prorated across all Series should the client hold another Series with their GIF Select contract.
With Locked-In money, you cannot exceed the legislative maximums, however there is an option for you to elect a Life Annuity from Manulife to solve this issue (speak to your Advisor for more info)
Source: Canada Revenue Agency
** To calculate minimum annual withdrawals for below age 71, use the formula 1/(90–age).

28. Example: IncomePlus inside a RRIF
Client aged 65 decides to invest his RRSP in IncomePlus and convert it to a RRIF in the following year and begin withdrawals
Amount
Deposit
$500,000
Income bonus added December 31
$25,000
Lifetime Withdrawal Amount (LWA)
$26,250 for life
Let’s look at the case of someone who has been investing his RRSP in IncomePlus and then converting into a RRIF to begin withdrawals in the following year
Based on a Single Life Payout Option

29. IncomePlus: RRIF income for life
RRIF Minimum
Market value*
LWA (5%)
Income stream (greater of LWA or RRIF minimum)
Advantage of IncomePlus in a RRIF
$40,700
(MV of $550,00 X 7.4% RRIF Minimum at 72)
$26,250
(5% LWA of $500, % Income Bonus)
When IncomePlus is held within a RRIF, your client can benefit in 3 ways.
#1 In the years where the RRIF Minimum exceeds the guaranteed income, IncomePlus pays up to that RRIF minimum without affecting the 5% Lifetime Withdrawal Amount
At age 65, you are eligible to receive the full 5% Lifetime Withdrawal Amount which actually exceeds the RRIF minimum in those early years
#2 Once the amount the government requires your client to withdraw exceeds the 5% Lifetime Withdrawal Amount, Manulife will pay the higher RRIF minimum to your client every year that is the case,
for example, in this example at year 72 your LWA would be $26,250, but you are required to take and can take your RRIF minimum is 7.48% or $40,7000 based on the Market value as of December 31 of the previous year. If your market value continued to increase, you could see your RRIF minimum also increase, and you would be able to take the greater of the LWA or your RRIF minimum as you can see at age 72.
#3 Should the investments begin to decrease in value as is illustrated at the right side of this graph when the client is 80, due to the withdrawal schedule and market performance, and the RRIF minimum becomes lower than what the 5% Lifetime Withdrawal Amount is calculated at, Manulife will again pay out the higher value, the LWA, even if the market value reaches $0
If the investments were to be depleted over time due to increased RRIF Minimums and poor performance, IncomePlus would continue to pay $26,250 for the life of the client – EVEN WITH A MARKET VALUE OF $0
With IncomePlus, Manulife will guarantee your clients receive the higher of the RRIF minimum OR the Lifetime Withdrawal Amount (in this example we assume a 5% LWA percentage)
Every dollar that is withdrawn from your registered accounts are subject to 100% inclusion rates and taxed just like your regular income
Next Slide
Age 65
Age 72
Age 72
Age 80
Age 80
For illustration purposes only. In the years where the RRIF minimum remains below the guaranteed income, the LWA continues to be paid at an annual 5% withdrawal rate. Results may vary with market conditions and resets. Exceeding the IncomePlus withdrawal and RRIF minimum thresholds may have a negative impact on future payments. *Used in the calculation to determine RRIF minimum. Assumes a Single Life Payout and assumes the elected LWA payout percentage is 5% Assumes no withdrawal is made in the first year and that a full 5% bonus is applied in the first year.,.

30. Why Manulife? Strength & Security
Choosing a financial partner is important
Manulife Financial offers:
Financial strength
Prudent risk management practices
Diverse business platform
High quality investment portfolio
Segregated fund industry leader
From Financial Strength Fact Sheet Q4 Update
Financial Strength
Well recognized brands with a history of financial stability
Industry leading ratings
Significant scale
Prudent risk management practices
Recognized enterprise risk management
Reducing equity market exposure
Significant liquidity
Strong capital level
A diverse business platform
Geographic diversity
Product diversity
Multiple distribution channels
Sales rank
High quality investment portfolio
Disciplined investment philosophy
* Investor Economics Insight, January 2010

31. Questions?

32. Important information
Bonuses are not cash deposits; they increase the basis for calculating guaranteed income. The bonus is available each year following the initial deposit to the IncomePlus Series, provided no withdrawals are taken. For all deposits to IncomePlus in the first calendar year, the bonus is pro-rated based on the month of the initial deposit.
Exceeding the withdrawal thresholds may have a negative impact on future income payments. The Lifetime Withdrawal Amount (LWA) becomes available on January 1st of the year the annuitant or the younger of the annuitant and the Joint Life (if applicable) turns age 65. The Joint Life must be the spouse (as defined by the Income Tax Act (Canada)) of the annuitant at the time of election of the Joint Life Payout Option. Only one person can be named as the Joint Life and may not be changed.
Withdrawals proportionally decrease Maturity and Death Benefit Guarantees. Withdrawals in excess of the LWA or prior to the LWA eligibility date will reduce the GWB Benefit Base proportionally. Other conditions may apply.
The Manufacturers Life Insurance Company is the issuer of the Manulife GIF Select insurance contract which offers the IncomePlus, EstatePlus and InvestmentPlus Series and the guarantor of any guarantee provisions therein. InvestmentPlus and EstatePlus are trademarks, GIF Select IncomePlus, Manulife and the block design are registered service marks and trademarks of The Manufacturers Life Insurance Company and are used by it and its affiliates including Manulife Financial Corporation.

33. Thank you