Why choose life insurance with Manulife?
About Manulife
Manulife Financial is a Canadian insurance company with major business centres in Ontario and Quebec. The company was founded in 1887 by then Canadian Prime Minister Sir John A. Macdonald and quickly expanded its operations in Asia, primarily in Hong Kong and China. In 2014, Manulife Financial consolidated its operations in Quebec by acquiring Standard Life, a local industry player, for $3.7 billion. The company now has 47,000 employees in offices in Canada, the United States (through its subsidiary John Hancock Insurance) and in close to 20 countries around the world. Manulife Financial is the largest insurance company in Canada, the second largest in North America, and the fifth largest in the world by market capitalization.
Not surprisingly, Manulife offers the products and services expected of a company in this sector, which include individual and group life insurance, group health insurance, long-term care insurance, mutual funds, annuities, pension plans and certain banking products. The company also offers asset management services to its institutional clients as well as reinsurance solutions.
Group Insurance
Manulife offers two main categories of group plans: group insurance and group retirement solutions. Let's set aside the second category here and focus on Manulife's group insurance offerings. Manulife offers a financial solution to its business customers to help them attract and retain the best talent by enhancing their total rewards through a comprehensive, affordable and user-friendly group insurance plan.
Manulife positions itself as a full-fledged partner to the companies that do business with it by helping them manage their group insurance costs through highly competitive disability, drug and absence management programs. Manulife also focuses on reducing health care costs in and of themselves, and offers a comprehensive assistance program that also covers family members of employees participating in the plan.
Medical Insurance
Manulife's medical insurance offering is divided into four categories:
- Dental and Medical Insurance: Regardless of your health condition and/or attention to diet and lifestyle, the costs associated with dental and other medical procedures can be both high and often unexpected. Manulife offers 2 flexible plans to help you deal with these eventualities. These plans take into account your family and employment situation, as well as your possible participation in group health insurance.
- Disability insurance: It's hard to imagine being seriously injured and/or unable to return to work due to circumstances beyond our control, but unfortunately these things do happen, which is why disability insurance is a financial product that deserves some attention. Manulife offers 3 types of income protection for professional/managers, small business owners and their employees, as well as more general coverage.
- Critical Illness Insurance: Some diagnoses change a life and you don't want money to be an aggravating factor when all your energy should be devoted to your recovery and convalescence. Once again, Manulife offers 3 different plans to provide the coverage you need
- Long Term Care Insurance: Even the healthiest people - and/or those fortunate enough to never have an accident - get older. Long-term care insurance allows you to best prepare for this inevitable phase of your life and receive the long-term care - in a specialized facility or at home - that you deserve with dignity.
Interestingly, Manulife offers the opportunity to combine several of these insurance products into a 3-in-1 solution: Manulife Synergy Insurance combines life, disability and critical illness insurance to provide you with optimal coverage against the most negative scenarios that can occur in a lifetime.
Manulife Life Insurance
Life insurance is a must-have product for businesses in the industry, and Manulife is no exception. The company offers two main types of life insurance: term life insurance and permanent life insurance.
Term life insurance
Term life insurance is designed to provide policyholders with limited coverage for a limited period of time in order to meet the expenses and financial contingencies that could overwhelm their beneficiaries in the event of premature death. Manulife offers 4 distinct plans in this category - CoverMe, Family, Business, and Family Vitality - that allow you to protect your beneficiaries with flexible and affordable solutions.
Permanent Life Insurance
Permanent life insurance has the same financial protection objective as term insurance, but as the name suggests, it is better suited for people who don't change their minds often, since it is a permanent solution. Manulife offers 2 quite different types of permanent insurance policies:
Manulife Participating Whole Life insurance offers coverage starting at $100,000 and immediate cash value growth. The cash value is guaranteed for the first few years of the policy, and Manulife lets you decide how often and for how long you want to pay your premiums.
The second product - Performax Gold Whole Life Insurance - provides you with permanent coverage starting at $25,000, which you can pay for in as little as 15 years or in equal installments until you reach age 100. This product also offers payment options and guaranteed cash surrender values.
If you would like to learn more about the insurance products and services offered by Manulife Financial, visit https://www.manuvie.ca/particuliers.html.
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