Manulife's Dependent Life Insurance: What You Need To Know

Life insurance is an important financial safety net for your family in the event of your death. Manulife offers a range of life insurance products to protect your loved ones, including dependent life insurance, which is available to the spouse and dependent children of an employee. This type of insurance provides financial security and helps cover expenses such as final costs, children's education, and retirement for the surviving spouse. It's a flat-rate coverage typically ranging from $5,000 for a spouse and $2,500 per child to $10,000 for a spouse and $5,000 per child, with higher coverage amounts often available. Manulife also offers optional life insurance, term life insurance, and permanent life insurance to meet diverse needs and provide peace of mind.

Dependent Life Insurance is available to the spouse and children of an employee

Life is unpredictable, and it's important to ensure that your loved ones are protected in the event of your death. Dependent Life Insurance is a type of insurance plan that is available to the spouse and children of an employee. It provides financial security and helps deal with the financial impact that comes with the loss of life. This type of insurance is typically offered as part of an employee's group benefits plan, and it can be a great way to protect your family at a low cost.

Dependent Life Insurance plans provide coverage in flat amounts, and the coverage for a spouse is generally higher than that for children. The coverage for children usually becomes effective 14 days after birth and continues until the child is 21 years old or 25 years old if they are in full-time education. Employers may choose to share the cost of premiums with their employees or have the employees pay the entire premium themselves. It is worth noting that the benefit is payable to the covered plan member upon the death of the dependent.

The amount of coverage offered by Dependent Life Insurance can vary, but common amounts include $5,000 for a spouse and $2,500 per dependent child, or $10,000 for a spouse and $5,000 per dependent child. However, higher amounts of coverage are often available, and some insurers also offer optional coverage for dependent children. This optional coverage can provide additional peace of mind and ensure that your family is taken care of in the event of an unexpected loss.

In addition to Dependent Life Insurance, Manulife also offers other types of life insurance products, such as Term Life Insurance and FollowMe™ Life Insurance. Term Life Insurance provides coverage for a specified period and can help provide financial security for your loved ones. FollowMe™ Life Insurance is designed for individuals who have lost their group life insurance coverage due to career changes, retirement, or job loss. It offers guaranteed acceptance within 60 days of losing group coverage, with no medical questionnaire or exam required at the time of application.

Overall, Dependent Life Insurance is a valuable option for employees who want to ensure their spouse and children are protected financially in the event of their death. It provides affordable coverage and can be easily accessed through an employee's group benefits plan. By choosing the right insurance products, individuals can rest assured that their loved ones will be taken care of, no matter what life may bring.

Coverage for a spouse is generally higher than that for children

Dependent Life Insurance plans are available for the spouse and dependent children of an employee. The coverage for a spouse is generally higher than that for children. This type of insurance is designed to help protect your loved ones financially in the event of your death. While the specific coverage amounts can vary, the most common coverage amounts are $5,000 for a spouse and $2,500 per dependent child, or $10,000 for a spouse and $5,000 per dependent child. However, higher coverage amounts are often available, and some plans offer coverage of up to $770,000 per person.

Dependent Life Insurance is typically offered as a flat amount, and the benefit is payable to the covered plan member upon the death of the dependent. Coverage for children usually becomes effective 14 days after birth and continues until the child reaches the age of 21 (or 25 if they are in full-time education). On the other hand, coverage for a spouse can be renewed up to the age of 80, regardless of any changes in health, as long as the premiums are paid.

The cost of Dependent Life Insurance can be shared between the employer and the employee, or the employer may opt to have the employee pay the entire premium. Additionally, employees have the option to supplement their Dependent Life Insurance with Optional Life coverage, which can be extended to their spouse and dependent children as well. This additional coverage typically requires medical evidence and ceases at the age of 65 or the employee's retirement.

Manulife offers various life insurance products, including Term Life Insurance, FollowMe™ Life Insurance, and permanent life insurance. These plans provide financial security and protection for your family, helping to cover final expenses, build a legacy, and secure their future. With Manulife, you can rest assured that your loved ones will be taken care of in the event of your untimely demise.

Employers may share premium costs or have employees pay the full premium

Dependent Life Insurance plans are only available to the spouse and dependent children of an employee. The coverage is provided in flat amounts, with the amount for a spouse generally being higher than that for children. Employers can choose to share the cost of the premium with their employees or have their employees pay the entire premium. The benefit is paid to the covered plan member in the event of the death of the dependent.

The most common amounts of Dependent Life coverage are $5,000 for a spouse and $2,500 per dependent child or $10,000 for a spouse and $5,000 per dependent child. However, higher coverage amounts are often available. The coverage for children usually becomes effective 14 days after birth and lasts until the child turns 21 (or 25 if they are in full-time education).

Optional Life coverage can be purchased in addition to an employee's basic life insurance as part of their group benefits plan, if their employer offers it. This type of coverage can be available to employees only or to both the employee and their spouse. Some insurers also offer Optional Life coverage for dependent children, but medical evidence is required, and coverage typically ends when the employee retires or reaches the age of 65. The premiums for Optional Life coverage are paid by the employee and are usually based on age bands, gender, and smoking status.

Manulife offers a variety of life insurance products, including term life insurance, permanent life insurance, and FollowMe™ Life Insurance, which provides continuous protection after group coverage ends. Manulife's term life insurance plans offer low group rates, renewable coverage, and a living benefit in the event of a terminal illness. Their permanent life insurance plans provide long-term financial security for loved ones, regardless of the policyholder's age, health, or history. FollowMe™ Life Insurance is available to those who have recently lost their group life insurance coverage and offers guaranteed acceptance within 60 days of losing coverage, with no medical questionnaire or exam required.

The benefit is payable to the covered employee upon the death of the dependent

Manulife offers a range of life insurance products to protect you and your loved ones in the event of your death or the death of a dependent. One such product is Dependent Life Insurance, which is available to the spouse and dependent children of an employee. This type of insurance provides coverage in flat amounts, with higher coverage generally offered for spouses than for children.

Dependent Life Insurance can help cover final expenses, supplement gaps in your employer's group plan, and provide financial security for your loved ones. The benefit amount can be used for anything your beneficiary chooses, such as family living expenses, children's education, or retirement.

The benefit of Dependent Life Insurance is payable to the covered employee upon the death of their dependent. This can provide financial support during a difficult time and help with expenses such as funeral costs or ongoing living costs. The most common amounts of Dependent Life coverage are $5,000 for a spouse and $2,500 per dependent child, or $10,000 for a spouse and $5,000 per dependent child. However, higher coverage amounts are often available, and employers may choose to share in paying the premium or have employees pay the entire premium.

In addition to Dependent Life Insurance, Manulife offers other types of life insurance, such as term life insurance, permanent life insurance, and optional life insurance, which can be purchased on top of a basic plan. These insurance products can provide financial protection and peace of mind, ensuring that your family is taken care of in the event of your death.

Dependent Life Insurance is available in flat amounts, with common amounts being $5,000 for a spouse and $2,500 per child

Dependent Life Insurance is a type of insurance plan that provides coverage for the spouse and dependent children of an employee. It is only available in flat amounts, and the coverage for spouses is typically higher than that for children. This type of insurance ensures that your family is protected financially in the event of your death.

Dependent Life Insurance plans usually become effective 14 days after the birth of a child and remain in effect until the child reaches the age of 21 or 25 if they are enrolled in full-time education. Employers may choose to contribute to the premium or require employees to pay the entire amount. In the event of the dependent's death, the benefit is paid to the covered plan member.

The most common amounts of coverage are $5,000 for a spouse and $2,500 per child, but higher amounts of coverage are often available. For example, coverage of $10,000 for a spouse and $5,000 per child is also offered. This type of insurance gives you peace of mind, knowing that your loved ones will be taken care of financially if something unexpected happens to you.

Manulife offers a range of life insurance products, including term life insurance, permanent life insurance, and optional life insurance. Their plans provide financial security for your loved ones and help cover final expenses, build a legacy, and secure your family's future. With Manulife, you can rest assured that your family is protected, and you can even enjoy additional benefits through their Manulife Vitality program, which rewards healthy choices.

Frequently asked questions