Illustration Guide - Repsource - Manulife Financial

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The proposal, Continued one Account – Report Options Click Next >> or Report Options to move to the Report Options tab. This tab consists of three sections: • Account Proposal Options • Leveraged Investment Assumptions • Manulife one Variable Rate Information Account Proposal Options allows you to select the Leverage Report if you have added investment accounts to the account structure. The leverage report provides two additional report pages that outline the advantages and risks of borrowing to invest. We will not be using this in our case. In the Account Proposal Options section you can also choose to add other pages to your report: the Other great benefits page and an Interest equation page. We will not be using these in our case. The options in the Leveraged Investment Assumptions section are only available when the Leverage Report check box is selected. If you want to use the Leverage Report, the system will need the information displayed here, particularly the Number of Years. We will not be using this in our case. Manulife one Illustration Guide 24 December, 2000
The proposal, Continued one Account – Report Options • Current Manulife one Variable Rate: This text box displays the current variable interest rate you entered on the Client Information tab. • View History: Click this button to view the history of prime rates to show how these rates fluctuate from time to time. Manulife one variable rates will generally track to the prime rate used by the major banks, although the two rates will differ periodically. We will not be using this in our case. • Interest Rate on Credit Balance: This is the interest rate earned in the Main account once all Main account borrowings are repaid. This is required for the system to calculate the paying down of sub-accounts. Enter 4.0%. one Account – Pre-Qualifier Click Next >> or Pre-Qualifier to move to the Pre-Qualifier tab. The Pre-Qualifier tab can be used at any time. It identifies areas that may be a problem during the underwriting and credit approval process. The Pre-Qualifier examines three key areas: • Income & Financial: Can the clients reasonably afford the Manulife one required payments? • Credit History: Do the clients have a history of credit problems? • Property Information: Does the property have any characteristics that might make it difficult to sell in a forced-sale situation? See the Appendix for Manulife's current credit policy around these areas. The Income & Financial section is used to determine whether clients can afford the borrowing limit they are eligible for. • Purpose of Request: Select Refinance from the drop-down menu. • Requested Borrowing Limit: This amount defaults to the one Borrowing Limit on the Manulife one Assumptions tab. • Current one Variable Rate: This is the rate entered on the Client Information tab • Current Monthly Family Income (Gross): Enter $9,100. • Current Monthly Property Taxes (on principal residence): Enter $150. • The four debt balance amounts are only used if the clients will maintain any debts outside of their Manulife one account. Don't include debts that will be transferred to the Manulife one account. For this case, leave these fields at $0.00. • Monthly Heating Costs: Enter $75. Manulife one Illustration Guide 25 December, 2000
Page 1 and 2: Illustration Guide For use with Man
Page 3 and 4: INTRODUCTION Manulife one Manulife
Page 5 and 6: Introduction and screen information
Page 7 and 8: Setting up a new client, Continued
Page 9 and 10: The concept Introduction The illust
Page 11 and 12: The concept, Continued Client Profi
Page 13 and 14: The concept, Continued Liabilities
Page 15 and 16: The concept, Continued Liabilities
Page 17 and 18: The concept, Continued Cash flow Th
Page 19 and 20: Concept report, Continued Concept R
Page 21 and 22: The proposal Introduction Once clie
Page 23: The proposal, Continued one Account
Page 27 and 28: The proposal, Continued one Account
Page 29 and 30: Proposal reports Manulife one Propo
Page 31 and 32: Proposal reports, Continued Table C
Page 33 and 34: Additional proposals, Continued Sce
Page 35 and 36: Appendix Credit policy Introduction

Illustration Guide - Repsource - Manulife Financial

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