Manulife Guaranteed Issue Life Insurance

Benefits

No medical exams or health questions.
• You can obtain coverage without providing any evidence of insurability.

Level premiums for life.
• Manage your budget and finances with the same guaranteed premium for the rest of your life.

Easy application process.
• The online application, completed with your advisor, makes the process simple and quick, with minimal wait time for your coverage to start.

How it helps

It can meet a wide range of needs including:

• Final expense and estate planning
• Mortgage and debt protection
• Income replacement
• Children’s education
• Financial security for a family’s future

Product details

• Residents of Canada aged 18 to 70 can obtain insurance coverage up to $100,000, and those aged 71 to 75 can obtain up to $50,000, across all policies.
• Clients may be eligible for a cash advance if diagnosed with a terminal illness.
• Premiums are paid monthly by pre-authorized debit which includes a monthly policy fee.
• Clients get access to certain Manulife Vitality benefits at no cost, offering rewards for healthy living.

How much does it cost?

Because there are no health questions, the cost of guaranteed issue life insurance is generally higher than other types of life insurance. If you are in good health, you may want to consider a different option like Manulife's Family TermTM insurance, where you provide health information and could be offered a lower premium.

Death within the first 2 years limitations

If the insured person dies from an accidental death, we pay the regular death benefit. If the insured person dies from any other cause, including death by suicide, we pay a reduced death benefit equal to the premiums paid for the policy since the policy issue date.