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

Manulife offers a range of life insurance products, including dependent life insurance. Dependent life insurance is a type of coverage that provides financial protection for the dependents of an insured individual in the event of their death. 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. Dependent life insurance can be offered as part of an employer's benefits package, and it is available across Canada.

Dependent Life coverage amounts

Dependent Life coverage is available to employees only or to both the employee and their spouse. Some insurers also offer coverage to dependent children. The most common amounts of 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 Optional Life benefit allows employees to supplement the life insurance coverage provided by their benefit plan.

Group life insurance is available across Canada and may be offered through your employer’s benefits plan. To check your benefits, sign in at manulife.ca/signin, then under My benefits, click View benefits booklet. You can also contact your human resources (HR) team for more information.

Optional Life benefit

Manulife offers group life insurance across Canada, which may be available through your employer's benefits plan. The Optional Life benefit allows employees to supplement the life insurance coverage provided by their benefit plan. This can be available to employees only or to both the employee and their spouse. Some insurers also offer Optional Life coverage to dependent children.

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, coverage for higher amounts is often available. Medical evidence is required and coverage typically ceases at age 65 or the employee's retirement. Rates are usually based on age bands (e.g. 40-44, 45-49, etc.), gender and smoking status.

To check your benefits, sign in at manulife.ca/signin, then under My benefits, click View benefits booklet. You can also contact your human resources (HR) team for more information.

Medical evidence requirements

Manulife offers group life insurance across Canada, which may be offered through an employer's benefits plan.

If you are applying for coverage over the non-evidence limit (NEL), you will need to complete an Evidence of Insurability form, which is a Proof of Health. This can be presented through written statements on an application form and/or through a medical examination.

If you are applying for a FollowMe™ Life Insurance policy within 31 days of the policy end date, you can convert up to $200k of your Group Life Insurance policy without providing any medical information to qualify.

Rates based on age, gender, smoking status

Manulife offers group life insurance across Canada, which may be offered through an employer's benefits plan. 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, coverage for higher amounts is often available.

Dependent life insurance rates are usually based on age bands (e.g. 40-44, 45-49, etc.), gender and smoking status. For example, a 40-year-old non-smoking male will likely pay a lower premium than a 60-year-old smoking male. Similarly, a 40-year-old non-smoking female will likely pay a lower premium than a 60-year-old smoking female.

The age and gender of the insured person are important factors in determining life insurance rates. Generally, younger people are considered to be lower risk and therefore pay lower premiums. Additionally, women tend to have lower life insurance rates than men, as they have a higher life expectancy.

Smoking status is also a significant factor in determining life insurance rates. Smokers are considered to be higher risk and therefore pay higher premiums. This is because smoking is associated with an increased risk of various health problems, including cancer, heart disease, and respiratory issues.

It's important to note that rates may also vary depending on other factors, such as medical history, family history, and lifestyle choices. Additionally, rates may change over time as the insured person ages or if there are changes in their health status.

When considering dependent life insurance, it's essential to review the specific terms and conditions of the policy to understand how rates are calculated and if there are any potential exclusions or limitations.

Group life insurance

Dependent life insurance is a common feature of group life insurance plans. 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, coverage for higher amounts is often available. The Optional Life benefit allows employees to supplement the life insurance coverage provided by their benefit plan. Optional Life coverage can be available to employees only or to both the employee and his or her spouse. Some insurers also offer Optional Life coverage to dependent children. Medical evidence is required and coverage typically ceases at age 65 or the employee's retirement. Rates are usually based on age bands (e.g. 40-44, 45-49, etc.), gender and smoking status.

Frequently asked questions