Jeffrey Wade
Manulife offers term life insurance plans to help protect your family and your business. Term life insurance is a contract for insurance on your life (or another person's) that you buy for a set period of time, usually 10 years. During this time, you pay premiums to keep the policy 'in force'. At the end of each term, you can usually renew for another term, depending on the policy requirements. Manulife's term life insurance provides coverage from $100,000 to $1 million for a term of 10 years, renewable up to age 85.
| Characteristics | Values |
|---|---|
| Type of insurance | Term life insurance |
| Length of insurance | A set period (a "term") |
| Length of term | Usually 10 years |
| Renewal | Yes, up to age 85 |
| Premium payments | Yes, paid to keep the policy "in force" |
| Premium rates | Guaranteed to stay the same over the course of each term |
| Coverage | $100,000 to $1 million |
| Flexibility | You decide on the amount of coverage based on your life situation, needs and budget |
| Beneficiaries | Receive a tax-free, lump-sum financial benefit upon death |
| Money-back guarantee | 30-day money-back guarantee |
| Cash advance | One-time cash advance of up to $100,000 (up to 50% of coverage) if diagnosed with a terminal illness and less than 12 months to live |
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What You'll Learn
- Term life insurance is a contract for insurance on your life that you buy for a set period of time
- Term life insurance is 'in force' for a specific length of time, and then it can be renewed
- Term life insurance rates are guaranteed to stay the same for the full 10-year term
- Manulife CoverMe Term life insurance provides coverage from $100,000 to $1 million for a term of 10 years
- Term life insurance is different from permanent life insurance
Term life insurance is a contract for insurance on your life that you buy for a set period of time
Term life insurance is a contract for insurance on your (or another person's) life that you buy for a set period of time, known as a 'term'. Terms usually last 10 years, during which time you pay premiums to keep the policy 'in force'. At the end of each term, you can usually renew for another term, depending on the policy requirements. Manulife CoverMe Term life insurance provides coverage from $100,000 to $1 million for a term of 10 years, renewable up to age 85. Your rates stay the same over the course of each term, and you can decide on the amount of coverage you want to buy based on your life situation, needs and budget.
Term life insurance is different from permanent life insurance, which is in force for the entirety of a person's life. Permanent life insurance is also known as Whole life insurance, Universal life insurance, or Participating life insurance. With Manulife term life insurance, you can rest easy knowing your family and your business are protected. Manulife Vitality is a program that rewards you for making healthy choices, including potential savings on your insurance costs and discounts on popular brands. It’s available on eligible term and permanent insurance products.
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Term life insurance is 'in force' for a specific length of time, and then it can be renewed
Term life insurance is a contract for insurance on your life (or another person's) that you buy for a set period, or 'term'. Terms usually last 10 years, during which time you pay premiums to keep the policy 'in force'. At the end of each term, you can usually renew for another term, depending on the policy requirements. Manulife CoverMe Term life insurance provides coverage from $100,000 to $1 million for a term of 10 years, renewable up to age 85. Your rates stay the same over the course of each term.
Term life insurance is a good option if you want to rest easy knowing your family and your business are protected. It is also flexible, as you decide on the amount of coverage you want to buy based on your life situation, needs and budget. You can also receive a one-time cash advance to a maximum of $100,000 (up to 50% of your coverage) if you are diagnosed with a terminal illness and have less than 12 months to live.
Manulife also offers permanent life insurance, which is in force for the entirety of a person's life. It is also known as Whole life insurance, Universal life insurance, or Participating life insurance.
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Term life insurance rates are guaranteed to stay the same for the full 10-year term
Term life insurance is a contract for insurance on your (or another person's) life that you buy for a set period (a "term"). Terms usually last 10 years, during which time you pay premiums to keep the term life insurance policy "in force". At the end of each term, you can usually renew for another "term" depending on the policy requirements. Manulife CoverMe Term life insurance provides coverage from $100,000 to $1 million for a term of 10 years, renewable up to age 85. Your rates stay the same over the course of each term.
The life of the insured can be covered up to a maximum amount. Manulife's term life insurance calculator may help you sort out which plan would work best for you. You can also review their plans to explore coverage levels and to get a term life policy quote.
Manulife CoverMe Term life insurance rates are guaranteed to stay the same for the full 10-year term. This means that your rates will not increase during the term of your policy. This can provide peace of mind and help you budget for your insurance costs.
With Manulife CoverMe Term life insurance, you can feel confident knowing that your rates will remain consistent throughout the term of your policy. This can be especially beneficial if you are on a fixed income or have a tight budget. By keeping your rates the same, Manulife helps to ensure that you can maintain your coverage without worrying about unexpected increases in your insurance costs.
Additionally, Manulife's term life insurance offers flexibility. You can decide on the amount of coverage you want to purchase based on your life situation, needs, and budget. This allows you to tailor your policy to your specific requirements and ensures that you only pay for the coverage you need.
Overall, Manulife CoverMe Term life insurance provides a combination of stability and flexibility with its guaranteed rates for the full 10-year term. This can be a valuable feature when considering your insurance options and ensuring that you have the necessary protection for your family and business.
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Manulife CoverMe Term life insurance provides coverage from $100,000 to $1 million for a term of 10 years
Term life insurance is a contract for insurance on your life (or another person's) that you buy for a set period of time, or a 'term'. Terms usually last 10 years, during which time you pay premiums to keep the term life insurance policy 'in force'. At the end of each term, you can usually renew for another 'term' depending on the policy requirements. Manulife CoverMe Term life insurance provides coverage from $100,000 to $1 million for a term of 10 years, renewable up to age 85. Your rates stay the same over the course of each term. Manulife's 10-year term life insurance is flexible, too: you decide on the amount of coverage you want to buy based on your life situation, needs and budget.
Manulife offers term life or permanent life insurance plans so you can rest easy knowing your family and your business are protected. Term life insurance is 'in force' for a specific length of time, and then it can usually be renewed up to a termination age. Permanent life insurance is 'in force' for the entirety of a person's life. It's also known as whole life insurance, universal life insurance, or participating life insurance.
The life of the insured can be covered up to a maximum amount. Manulife's term life insurance calculator may help you sort out which plan would work best for you. You can also review their plans to explore coverage levels and to get a term life policy quote.
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Term life insurance is different from permanent life insurance
With Manulife CoverMe Term life insurance, your beneficiary(ies) receive a tax-free, lump-sum financial benefit upon your death. Term life insurance policy rates are guaranteed to stay the same for the full 10-year term. You can renew your policy every 10 years up to age 85, without needing a new medical exam or questionnaire at the time of renewal. You can also receive a 30-day money-back guarantee and a one-time cash advance of up to $100,000 (up to 50% of your coverage) if you are diagnosed with a terminal illness and have less than 12 months to live.
Manulife offers both term life and permanent life insurance plans, so you can choose the option that best suits your needs and budget. The company is committed to bettering the health of Canadians and has joined a global pledge to help make 100 million people 20% more active by 2025. Manulife Vitality, a program that rewards you for making healthy choices, is available on eligible term and permanent insurance products.
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Frequently asked questions
Term life insurance is a contract for insurance on your (or another person’s) life that you buy for a set period (a “term”). Terms usually last 10 years, during which time you pay premiums to keep the term life insurance policy “in force”.
Manulife term life insurance is in force' for 10 years, after which you can renew your policy up to the age of 85.
Term life insurance is 'in force' for a specific length of time, whereas permanent life insurance is 'in force' for the entirety of a person’s life.
Your beneficiary(ies) receive a tax-free, lump-sum financial benefit upon your death. Term life insurance policy rates are guaranteed to stay the same for the full 10-year term. You can receive a 30-day money-back guarantee and a one-time cash advance of up to $100,000 if you are diagnosed with a terminal illness and have less than 12 months to live.
