Get a quote from Manulife, one of Canada’s top life insurance providers.

Providing insurance to hard-to-insure people

Manulife offers the standard personal insurance policies but it has also broken ground when it comes to coverage for people with chronic illnesses. In 1940, it became the first company to offer life insurance to controlled diabetics. In 2016, Manulife became the first Canadian insurance company to offer life insurance to people who are HIV-positive.

Life insurance gamification

Insurance companies have always maintained a pool of healthy, insured customers, with the assumption that healthy customers were unlikely to draw on their policies, offsetting those who need to use their policies. Manulife’s Family Term with Vitality policy gamifies the health outcomes of their customers. This policy lets customers earn rewards and save on payments when they complete fitness, health and educational activities.

• Customers could save on future insurance rates
• They get a free monitoring device and personalized health goals
• The opportunity to earn Vitality points or Amazon.ca gift cards when customers meet their goals.

Manulife has a strong presence in the Canadian personal insurance market. Manulife offers several options for term and permanent life insurance plans:

Term insurance

Term life insurance lets you buy coverage for a specific period of time and can range from 10 to 30 years and up. When you buy a term policy, your rates are locked in during that time, but when you renew, your rates will increase. Why? Because you’re older and your health has likely changed. Overall, rates tend to be lower than permanent life insurance.

Permanent insurance

Permanent and whole life insurance are both permanent policies that, even when you’ve finished paying, will continue to provide coverage as long as the policy is active and in force. Most permanent policies have a savings component that you can borrow against but that does lower the lump-sum payment upon your death. Permanent policies offer death benefits with cash values, which is a tax-free, lump-sum cash payment that goes towards your beneficiaries to help them cover expenses such as the mortgage or your children’s education. The cash value allows policyholders to withdraw money from their death benefit, but doing this will lower the lump sum payment to your beneficiaries. With whole life insurance, your policy’s cash value is professionally invested by the insurance company.

Let’s answer the most important question: is Manulife life insurance right for you? While the company does offer a variety of term and permanent life insurance options, the only way to know is to apply for a quote.

Before you sign a contract with any life insurance, remember to do your research on the company and its policies.

Some things to keep in mind: Check the company’s history. How long has it been around? Has it been involved in any scandals that could threaten its financial stability and what were the outcomes? These questions can be answered via a quick search on the Internet as well as checking the company’s website. Asking a trusted insurance agent or broker can also answer these questions.

Finally, always compare life insurance quotes from various companies before signing a policy. Different companies offer different rates for the same policy, covering the same things. Compare and read before you sign. The lower the rate, the more likely you’re a good fit for the company’s underwriting standards. By using LowestRates.ca, you can get life insurance quotes from 50+ of the top providers across the country.

Manulife offers other types of insurance, which you can bundle with your life insurance policy for more savings:

• Travel
• Health: dental, critical and disability
• Combination insurance: life, disability and critical illness.
• Affinity markets insurance: life, health, travel and disability insurance at lower rates when you buy through your alumni, professional or retail organization.