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Manulife Peso Affluence Builder is a minimum 10-Pay*** variable life insurance product that allows you
Manulife Peso Affluence Builder is a minimum 10-Pay*** variable life insurance product that allows you

Manulife Peso Affluence Builder is a minimum 10-Pay*** variable life insurance product that allows you to enjoy the rewards from investing in any or a combination of professionally-managed investments accounts, while providing you with life long protection.

MANULIFE PESO AFFLUENCE BUILDER'S MAJOR FEATURES

Determine the desired Face Amount depending on your need to help you achieve your financial objectives. You You

decide on your annual basic premium from a minimum amount of PHP 40,000.

Choose the investment account that suits your risk profile. You may choose to invest your premiums partly or entirely, You may choose to invest your premiums partly or entirely,

subject to allowable fund allocations, in any of several funds. You can even later on switch from one fund to another, subject to the applicable rules on fund switching.

Provide yourself with the protection you need. Your beneficiaries shall receive the higher of the policy's Face Amount or the Account Value Your beneficiaries shall receive the higher of the policy's Face Amount or the Account Value adjusted by all partial withdrawals and top-ups made, subject to minimum death benefit.*

Increase your investment if you wish or simply take advantage of optimistic market trends. Build up your investment Build up your investment

through additional premiums ("top-ups") anytime.

Withdraw from your account if needed. You may withdraw anytime for any reason, subject to applicable surrender charges, minimum withdrawal amount, You may withdraw anytime for any reason, subject to applicable surrender charges, minimum withdrawal amount, and minimum remaining fund balance.

Enjoy the reward of keeping your investment with Manulife. Loyalty Bonus equal to 2.5% of your average fund balance is Loyalty Bonus equal to 2.5% of your average fund balance is

automatically added to your Account Value starting on the end of the 5th year and every 4 years thereafter, subject to certain conditions.**

Check on your investment regularly. The unitized feature of our funds allows you to monitor your investment by checking our The unitized feature of our funds allows you to monitor your investment by checking our unit prices daily at www.manulife.com.ph or every Thursday in a major Philippine broadsheet newspaper.

AS THE POLICYOWNER, YOU SHALL SOLELY BEAR ALL THE INVESTMENT RISKS UNDER THIS POLICY

INFORMATION

Insured

AURORA,P FERRER

Sex

FEMALE

Age

43

Currency

Philippine Peso

 

YOUR BENEFITS

Basic Benefit

Face Amount

 

Annual Basic Premium

Manulife Affluence Builder Minimum 10-Pay (DB option 2 (Level Face) - 5x-60x [PESO]) Recurring Top-Up

PHP

240,000

PHP

40,000.00

 

Recurring Top-Up Premium

 

PHP

10,000.00

Supplementary Benefits

Face Amount

 

Annual Rider Premium

Accidental Death Benefit (ADB) Total Disability Waiver (TDW)

PHP

240,000

PHP

377.14

Included

PHP

1,033.65

PREMIUMS

Premium Component

Annual

Semi-Annual

Quarterly

Monthly

Basic Premium + Rider Premiums

PHP

41,410.79

PHP

20,717.00

PHP

10,364.30

PHP

3,455.80

Recurring Top-Up Premium

PHP

10,000.00

PHP

5,000.00

PHP

2,500.00

PHP

833.33

Total Premium

PHP

51,410.79

PHP

25,717.00

PHP

12,864.30

PHP

4,289.13

If, after buying the policy, you decide it is not suitable for your needs, simply return the Policy Contract to Manulife within fifteen (15) days from the date you received it. We will refund to you the applicable Premium Load, Cost of Insurance, Policy Fee, Rider Premiums and Account Value of your policy.

* The minimum death benefit as prescribed by law is 500% of Basic Premium plus 125% of Top-ups less 125% of withdrawals. ** Loyalty Bonus is not guaranteed and excludes funds from Top-Ups. *** Premium payment period of minimum 10 years is not guaranteed. You may still be required to pay additional premium after 10 years if the Account Value is insufficient to pay the charges.

AURORA,P FERRER

POLICYOWNER

SAGUINDAN,JOSEPHINE,ALZAGA (771263)

FINANCIAL ADVISER

The Manufacturers Life Insurance Company opened its doors for business in the Philippines in 1907. Since then, Manulife's Philippine Branch and later The Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife Philippines) has grown to become one of the leading life insurance companies in the country. Manulife Philippines is a wholly-owned domestic subsidiary of Manulife Financial Corporation, among the world's largest life insurance companies by market capitalization.

Manulife is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. We operate as John Hancock in the U.S. and as Manulife in other parts of the world. We provide strong, reliable, trustworthy and forward-thinking solutions for our customers’ significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Assets under management by Manulife and its subsidiaries were approximately C$691 billion (US$596 billion) as at December 31, 2014.

Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife can be found on the Internet at manulife.com.

Page 1 of

8

A3JZG2154F2WLZ0

This proposal prepared on 15 April, 2015 is valid until 15 May, 2015

Ver. Ph2015.3.39.003.0318

AE771263AFD032VK-02

Illustrations are valid only if all illustration pages are included.

CE210

- PACK

VER2

Sales Illustration Specially Designed For AURORA,P FERRER ILLUSTRATION OF BENEFITS

Sales Illustration Specially Designed For AURORA,P FERRER

ILLUSTRATION OF BENEFITS

This illustration is based on the assumptions in the first page of this proposal.

THE RESULTS SHOWN MERELY ILLUSTRATE SCENARIOS AND ARE NOT GUARANTEED

   

Basic

Premiums

Recurring

     

Yr

Age

Top-up

TOTAL ACCOUNT VALUE

FULL WITHDRAWAL VALUE

TOTAL DEATH BENEFIT

 

Premiums

Low

Medium

High

Low

Medium

High

Low

Medium

High

1

44

40,000

10,000

18,310

19,052

19,423

8,950

9,332

9,523

252,500

252,500

252,500

2

45

40,000

10,000

37,330

39,610

40,772

20,357

21,638

22,292

265,000

265,000

265,000

3

46

40,000

10,000

88,416

94,330

97,380

40,667

43,734

45,323

277,500

277,500

277,500

4

47

40,000

10,000

141,672

153,578

159,813

141,672

153,578

159,813

290,000

290,000

290,000

5

48

40,000

10,000

199,338

220,017

231,030

199,338

220,017

231,030

302,500

302,500

302,500

6

 

49 40,000

10,000

257,377

289,760

307,319

257,377

289,760

307,319

315,000

315,000

315,000

7

50 40,000

10,000

317,953

365,257

391,347

317,953

365,257

391,347

327,500

365,257

391,347

8

51 40,000

10,000

381,029

446,794

483,778

381,029

446,794

483,778

381,029

446,794

483,778

9

52 40,000

10,000

453,512

542,695

593,822

453,512

542,695

593,822

453,512

542,695

593,822

10

53

40,000

10,000

522,010

638,427

706,500

522,010

638,427

706,500

522,010

638,427

706,500

 

11 54

0

0

541,665

688,250

775,886

541,665

688,250

775,886

541,665

688,250

775,886

12 55

0

0

562,105

742,059

852,211

562,105

742,059

852,211

562,105

742,059

852,211

13 56

0

0

594,367

814,119

951,880

594,367

814,119

951,880

594,367

814,119

951,880

14 57

0

0

616,916

877,997

1,045,804

616,916

877,997

1,045,804

616,916

877,997

1,045,804

15

58

0

0

640,367

946,985

1,149,120

640,367

946,985

1,149,120

640,367

946,985

1,149,120

16

 

59 0

0

664,756

1,021,493

1,262,768

664,756

1,021,493

1,262,768

664,756

1,021,493

1,262,768

17

60 0

0

703,291

1,121,345

1,411,265

703,291

1,121,345

1,411,265

703,291

1,121,345

1,411,265

18

61 0

0

730,197

1,209,801

1,551,128

730,197

1,209,801

1,551,128

730,197

1,209,801

1,551,128

19

62 0

0

758,179

1,305,334

1,704,977

758,179

1,305,334

1,704,977

758,179

1,305,334

1,704,977

20

63

0

0

787,281

1,408,509

1,874,210

787,281

1,408,509

1,874,210

787,281

1,408,509

1,874,210

22

65

0

0

865,418

1,669,379

2,303,751

865,418

1,669,379

2,303,751

865,418

1,669,379

2,303,751

AS THE POLICYOWNER, YOU SHALL SOLELY BEAR ALL THE INVESTMENT RISKS UNDER THIS POLICY

The Low, Medium and High values are calculated assuming fund earning rates of 4.00%, 8.00% and 10.00%, respectively, net of Fund Management Charges. These rates are used merely to illustrate and do not represent actual year-on-year performance. These scenarios DO NOT represent lower and upper limit of fund crediting levels. The values shown are not guaranteed and depend on the actual performance of the Funds. When the Total Account Value is zero, the Account Value will be insufficient to cover the monthly deductions. To provide you with continued insurance coverage, we shall create a policy debt corresponding to the monthly deductions while there is no Account Value, provided that Basic premiums and Rider premiums due are paid on time and there are no fund withdrawals. This policy debt, accumulated in your account without interest, is extinguished if, and as, the Account Value grows. The policy will not be terminated on account of an outstanding policy debt within the first 5 years, provided that premiums are paid on time and there are no withdrawals from your account. Any policy debt shall be deducted from the Total Death Benefit payable. A non-guaranteed loyalty bonus at the end of the 5th year and every 4 years thereafter is included in the above illustration, if eligible. The loyalty bonus is 2.5% of the average Account Value for the past 48 months, excluding funds from Top-Up Premiums. Please refer to Important Illustration Notes for more information.

AURORA,P FERRER

POLICYOWNER

Page 2 of

SAGUINDAN,JOSEPHINE,ALZAGA (771263)

FINANCIAL ADVISER

8

A3JZG2154F2WLZ0

This proposal prepared on 15 April, 2015 is valid until 15 May, 2015

Ver. Ph2015.3.39.003.0318

AE771263AFD032VK-02

Illustrations are valid only if all illustration pages are included.

CE210

- PACK

VER2

Sales Illustration Specially Designed For AURORA,P FERRER CHARGES

Sales Illustration Specially Designed For AURORA,P FERRER

CHARGES

This Sales Illustration is based on the following charges:

Premium Charges of 75% on the first policy year and 75% on the second year are deducted from the Basic Premium received. Recurring Top-Up Premiums and Lump-Sum Top-Up Premiums shall also be subject to a 4% premium charge. Fund Management Charge will be charged per year to cover the cost of managing the assets. Monthly Deductions will be deducted from the Account Value at Unit Price. The illustration is based on annual mode and standard risk class. Actual deductions from the Fund shall be made monthly. The monthly deductions consist of the following:

Policy Fee of PHP 100.00 per month. of PHP 100.00 per month.

Cost of Insurance (COI) which starts at standard annual rate of 3.56 per thousand of amount at risk or which starts at standard annual rate of 3.56 per thousand of amount at risk or PHP 69.05 per month and increases with age but will not exceed a monthly charge of 83.33 per thousand of amount at risk. Surrender Charges, expressed as a percentage of the amount withdrawn or surrendered are charged for every partial and full withdrawal made, are as follows: 90% on the first policy year, 80% on the second policy year, and 75% on the third policy year. The company reserves the right to change the charges upon approval of the Insurance Commission and by giving the Owner at least three (3) months notice.

IMPORTANT ILLUSTRATION NOTES

AS THE POLICYOWNER, YOU SHALL SOLELY BEAR ALL THE INVESTMENT RISKS UNDER THIS POLICY

SHALL SOLELY BEAR ALL THE INVESTMENT RISKS UNDER THIS POLICY All payments and benefits shown are

All payments and benefits shown are in Philippine Pesos.

The illustration assumes that the Total Basic Premiums, Rider Premiums and Recurring Top-Up Premiums, if any, are paid in full. Recurring Top-Up Premiums, Lump-Sum Top-Up Premiums and Partial Withdrawals, if any, are at the beginning of the policy year. Top-Up Premiums are allowed provided no premiums are deferred. Recurring Top-Ups, if any, are paid on top of the Basic Premiums. Full Withdrawal Values illustrated are net of all charges outlined in the Fund Page(s) of this illustration, and surrender charges applicable to the first 3 years of the policy as mentioned above. The surrender charges mentioned do not apply to any Recurring Top-Ups or Lump-Sum Top-Ups. Any withdrawals from the Recurring Top-Ups and Lump-Sum Top-Ups are not subject to the surrender charges. This illustration shall form part of the insurance contract once the policy is issued. The precise terms and conditions of this plan are specified in your policy contract. Please refer to your policy contract for full details. We have tried our best to ensure the accuracy of this illustration; however, errors and omissions may still have occurred in its preparation. By signing below, you signify that you have read and understood the disclosures in the illustrations; that your Financial Adviser has explained to your satisfaction the principal features of the policy, the manner in which the variable benefits will reflect the investment experience of the separate investment fund(s), and the guarantees on minimum death benefit and maximum charges; that you fully understand that when buying this policy, you are assuming all investment risks associated with it.

you are assuming all investment risks associated with it. AURORA,P FERRER POLICYOWNER SAGUINDAN,JOSEPHINE,ALZAGA
you are assuming all investment risks associated with it. AURORA,P FERRER POLICYOWNER SAGUINDAN,JOSEPHINE,ALZAGA
you are assuming all investment risks associated with it. AURORA,P FERRER POLICYOWNER SAGUINDAN,JOSEPHINE,ALZAGA
you are assuming all investment risks associated with it. AURORA,P FERRER POLICYOWNER SAGUINDAN,JOSEPHINE,ALZAGA
you are assuming all investment risks associated with it. AURORA,P FERRER POLICYOWNER SAGUINDAN,JOSEPHINE,ALZAGA

AURORA,P FERRER

POLICYOWNER

SAGUINDAN,JOSEPHINE,ALZAGA (771263)

FINANCIAL ADVISER

Page 3 of

8

A3JZG2154F2WLZ0

This proposal prepared on 15 April, 2015 is valid until 15 May, 2015

Ver. Ph2015.3.39.003.0318

AE771263AFD032VK-02

Illustrations are valid only if all illustration pages are included.

CE210

- PACK

VER2

Sales Illustration Specially Designed For AURORA,P FERRER INVESTMENT FUND OPTIONS

Sales Illustration Specially Designed For AURORA,P FERRER

INVESTMENT FUND OPTIONS

INVESTMENT FUND OBJECTIVES

Management

Fee

Fund

Allocation

Peso Secure Fund

The Peso Secure Fund is designed to achieve stable and long-term growth by investing in government securities, high-quality corporate debt securities and/or in pooled fund/s that invest in these securities and other liquid fixed income instruments.

1.75%

0%

Peso Diversified Value Fund

 

The Peso Diversified Value Fund is designed to achieve a stable and long-term capital growth by investing in government securities, high-quality corporate debt securities, stocks listed on the Philippine Stock Exchange and/or pooled fund/s that invest in these securities and other liquid fixed income instruments.

2.00%

0%

Peso Dynamic Allocation Fund

 

The Peso Dynamic Allocation Fund is designed to achieve long-term capital growth by investing in diversified portfolios of local currency-denominated fixed income securities and securities listed on the Philippine Stock Exchange and/or pooled funds that invest in these securities and other liquid fixed income instruments.

2.25%

100%

Peso Growth Fund

 

The Peso Growth Fund is designed to achieve long-term capital appreciation by investing in stocks listed on the Philippine Stock Exchange, government securities and/or in pooled fund/s that invest in these securities and other liquid instruments.

2.25%

0%

Peso Cash Fund (for fund switching only)

 

The Peso Cash Fund aims to deliver returns with low volatility through investments in cashlike instruments.

0.50%

NA

HISTORICAL INVESTMENT FUND PERFORMANCE

Absolute Returns (Not Annualized)

 

Peso Secure Fund

Peso Diversified

Peso Dynamic

Peso Growth Fund

US Dollar Secure Fund

US Dollar Asia Pacific Bond Fund

US Dollar ASEAN Growth Fund

Value Fund

Allocation Fund

Inception Date

April 14, 2009

April 14, 2009

July 1, 2013

April 14, 2009

April 14, 2009

October 24, 2011

November 26, 2012

2009

*0.90%

*8.70%

N.A.

*33.80%

*11.50%

N.A.

N.A.

2010

12.69%

18.03%

N.A.

39.39%

9.87%

N.A.

N.A.

2011

13.19%

9.51%

N.A.

2.47%

8.98%

*-0.90%

N.A.

2012

7.38%

12.17%

N.A.

36.26%

15.28%

8.48%

*2.70%

2013

12.16%

8.57%

*-4.80%

1.73%

-10.14%

-5.95%

-3.99%

2014

2.74%

5.93%

11.53%

21.40%

8.27%

1.88%

13.47%

Since Inception

57.40%

80.40%

6.40%

226.80%

49.20%

3.00%

11.20%

* Fund performance is from inception date until December 31 of the launch year

• The Investment Funds ("Funds") mentioned in this document are specific to variable life insurance contracts and are not considered mutual funds.

• Yields depend on interest and foreign exchange rate levels, both of which may fluctuate. Other factors that affect yield include changes in the credit standing of the issuers and changes in the value of the stocks and dividends received. Further, investments of the Funds may provide that their values be determined based on prices or yields of other securities, instruments or foreign currencies, and such provisions may result in negative fluctuations in the value of these instruments and, in turn, the Funds' yields. Thus, the performance of the separate account(s) is not guaranteed and the value of the policy could be less than the capital invested subject to any specified minimum guarantees.

The Variable Life policyholder shall bear all investment risks.

• Past performance of the Funds is not necessarily indicative of future performance. Yields are not guaranteed. Yields indicated are after final tax and are exclusive of charges associated with the variable life policy.

• The Unit Price of a particular Fund is computed by dividing the Net Asset Value of the Fund by the number of outstanding units of the Fund on the Valuation Date.

• The frequency of valuation is daily.

• Unit Prices of the Funds are published weekly in major newspapers.

Certified true and Correct:

weekly in major newspapers. Certified true and Correct: Aira Gaspar, CFA Senior Vice President & Chief

Aira Gaspar, CFA Senior Vice President & Chief Investment Officer

Page 4 of

8

A3JZG2154F2WLZ0

This proposal prepared on 15 April, 2015 is valid until 15 May, 2015

Ver. Ph2015.3.39.003.0318

AE771263AFD032VK-02

Illustrations are valid only if all illustration pages are included.

CE210

- PACK

VER2

Sales Illustration Specially Designed For AURORA,P FERRER LOYALTY BONUS ILLUSTRATION

Sales Illustration Specially Designed For AURORA,P FERRER

LOYALTY BONUS ILLUSTRATION

This illustration is based on the assumptions in the first page of this proposal.

THE RESULTS SHOWN MERELY ILLUSTRATE SCENARIOS AND ARE NOT GUARANTEED

   

Basic

Premiums

 

Recurring

Lump Sum

Gross Partial

Withdrawal

   

Yr

Age

Top-up

Top-up

 

LOYALTY BONUS

 

Premiums

Premiums

 

Low

Medium

High

1

44

 

40,000

 

10,000

 

0

 

0

0

0

0

2

45

40,000

10,000

0

0

0

0

0

3

46

40,000

10,000

0

0

0

0

0

4

47

40,000

10,000

0

0

0

0

0

5

48

 

40,000

 

10,000

 

0

 

0

2,127

2,260

2,330

6

 

49 40,000

 

10,000

 

0

 

0

0

0

0

7

50 40,000

10,000

0

0

0

0

0

8

51 40,000

10,000

0

0

0

0

0

9

52 40,000

10,000

0

0

6,883

7,840

8,371

10

53

 

40,000

 

10,000

 

0

 

0

0

0

0

 

11 54

 

0

 

0

 

0

 

0

0

0

0

12 55

0

0

0

0

0

0

0

13 56

0

0

0

0

11,004

13,947

15,712

14 57

0

0

0

0

0

0

0

15

58

 

0

 

0

 

0

 

0

0

0

0

 

16 59

 

0

 

0

 

0

 

0

0

0

0

17 60

0

0

0

0

13,171

19,384

23,484

18 61

0

0

0

0

0

0

0

19 62

0

0

0

0

0

0

0

20

63

 

0

 

0

 

0

 

0

0

0

0

22

65

 

0

 

0

 

0

 

0

0

0

0

The Low, Medium and High values are calculated assuming fund earning rates of 4.00%, 8.00% and 10.00%, respectively, net of Fund Management Charges. These rates are used merely to illustrate and do not represent actual year-on-year performance. These scenarios DO NOT represent lower and upper limit of fund crediting levels. The values shown are not guaranteed and depend on the actual performance of the fund. The payment of the Loyalty Bonus is contingent on the fulfillment of the following conditions:

1. All withdrawals made do not exceed all Top-Up premiums paid.

2. All basic and rider premiums due in arrears are paid when policy resumes premium payment.

3. All basic and rider premiums due in arrears are paid when policy is reinstated.

AURORA,P FERRER

POLICYOWNER

SAGUINDAN,JOSEPHINE,ALZAGA (771263)

FINANCIAL ADVISER

Page 5 of

8

A3JZG2154F2WLZ0

This proposal prepared on 15 April, 2015 is valid until 15 May, 2015

Ver. Ph2015.3.39.003.0318

AE771263AFD032VK-02

Illustrations are valid only if all illustration pages are included.

CE210

- PACK

VER2

Sales Illustration Specially Designed For AURORA,P FERRER SUPPLEMENTARY BENEFITS

Sales Illustration Specially Designed For AURORA,P FERRER

SUPPLEMENTARY BENEFITS

Coverage /

Annual

Benefit

Premium

Accidental Death Benefit (ADB) Provides additional coverage if the death occurs through accidental means.

240,000

377.14

Total Disability Waiver (TDW) Provides for the waiver of premiums if the life insured becomes totally disabled before age 60 and remains so for at least six consecutive months. If total disability occurs between ages 60-65, premiums will be waived up to age 65 only.

Included

1,033.65

Page 6 of

8

A3JZG2154F2WLZ0

This proposal prepared on 15 April, 2015 is valid until 15 May, 2015

Ver. Ph2015.3.39.003.0318

AE771263AFD032VK-02

Illustrations are valid only if all illustration pages are included.

CE210

- PACK

VER2

Sales Illustration Specially Designed For AURORA,P FERRER ILLUSTRATION OF GUARANTEED RIDER CASH VALUES

Sales Illustration Specially Designed For AURORA,P FERRER

ILLUSTRATION OF GUARANTEED RIDER CASH VALUES

This illustration is based on the assumptions in the first page of this proposal.

Year

Age

Accidental Death Benefit

Total

1

44

0.00

0.00

2

45

0.00

0.00

3

46

240.00

240.00

4

47

240.00

240.00

5

48

480.00

480.00

6

49

480.00

480.00

7

50

720.00

720.00

8

51

960.00

960.00

9

52

960.00

960.00

10

53

1,200.00

1,200.00

 

11 54

1,200.00

1,200.00

12 55

1,200.00

1,200.00

13 56

1,200.00

1,200.00

14 57

1,200.00

1,200.00

15

58

960.00

960.00

 

16 59

960.00

960.00

17 60

960.00

960.00

18 61

960.00

960.00

19 62

960.00

960.00

20

63

720.00

720.00

22

65

720.00

720.00

Important Illustration Notes:

* Only rider/s with guaranteed cash values appear in this particular illustration.

* Accidental Death Benefit rider terminates upon attainment of Age 70 of the Insured.

AURORA,P FERRER

POLICYOWNER

Page 7 of

SAGUINDAN,JOSEPHINE,ALZAGA (771263)

FINANCIAL ADVISER

8

A3JZG2154F2WLZ0

This proposal prepared on 15 April, 2015 is valid until 15 May, 2015

Ver. Ph2015.3.39.003.0318

AE771263AFD032VK-02

Illustrations are valid only if all illustration pages are included.

CE210

- PACK

VER2

Applicant : Application No : Financial Adviser's Name : SAGUINDAN,JOSEPHINE,ALZAGA AURORA,P FERRER Code No :
Applicant : Application No : Financial Adviser's Name : SAGUINDAN,JOSEPHINE,ALZAGA AURORA,P FERRER Code No :

Applicant :

Application No :

Financial Adviser's Name : SAGUINDAN,JOSEPHINE,ALZAGA

AURORA,P FERRER

Code No :

771263

Unit :

ACKNOWLEDGEMENT OF VARIABILITY

I acknowledge that:

I have applied with The Manufacturers Life Insurance Co. (Phils.), Inc. for a Variable Life Insurance Policy, and have reviewed the illustration(s) that shows how a variable life insurance policy performs using the company's assumptions and based on Insurance Commission's guidelines on interest rates.

I understand that since the fund performance may vary, the values of my units are not guaranteed and will depend on the actual

performance at that given period and that the value of my policy could be less than the capital invested. The unit values of my Variable Life Insurance are periodically published.

I understand that the recommended minimum payment period of 10 years may not be sufficient to keep my policy in-force and that to keep

my policy from termination, I may be required to put in additional top-up premiums when the Account Value becomes insufficient to cover the policy charges.

I understand that the investment risks under the policy are to be borne solely by me, as the policyholder.

AURORA,P FERRER

POLICYOWNER

Date

ACKNOWLEDGEMENT OF UNDERSTANDING

I have carefully read and understood the disclosures in the illustration. My Financial Adviser has explained to my satisfaction the principal features of the policy, the non-guaranteed components, the manner in which the variable benefits will reflect the investment experience of the separate investment fund(s), and the guarantees on minimum death benefit and maximum charges. I also understand that the illustration is valid only for one (1) month from print date and that any alteration shall invalidate this illustration.

AURORA,P FERRER

POLICYOWNER

Date

Agent's Attestation: This illustration has been presented to the Policyowner unaltered. The Policyowner has been told that values that are not guaranteed are subject to change; and no statements have been made that are inconsistent with the illustration.

SAGUINDAN,JOSEPHINE,ALZAGA(771263)

FINANCIAL ADVISER

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Date

A3JZG2154F2WLZ0

This proposal prepared on 15 April, 2015 is valid until 15 May, 2015

Ver. Ph2015.3.39.003.0318

AE771263AFD032VK-02

Illustrations are valid only if all illustration pages are included.

CE210

- PACK

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