Easy, affordable coverage plan with no medical questionnaire at time of application

If you’ve found it difficult to obtain life insurance coverage or even failed to get coverage elsewhere, Guaranteed Issue Life Insurance for CARP Members may be for you. You can help protect your loved ones with life insurance coverage up to $25,000 with no health exams or questions required when you apply.

Think of all the ways your life insurance benefits could help others: pay for a grandchild’s education, help relieve the burden of final expenses, or donate to your favourite charity.

Guaranteed acceptance!

If you’re between the age of 50 and 80, no medical questionnaire  is required when you apply for coverage.

Coverage to meet your family’s needs

You can get coverage from $2,500 and $25,000 for yourself and your spouse.

Your premiums won’t increase!

Once you are a policy holder, your premiums are locked-in and will never increase.

Choose the coverage amount that makes sense for your needs and budget. Guaranteed Issue Life Insurance for CARP Members is available in increments of $2,500 to a maximum coverage of $25,000 – and is available to both you as a CARP Member and your spouse.

Your coverage also includes many valuable benefits at no additional cost: 

Gain the added security of knowing that if you are diagnosed with a terminal illness with less than 12 months to live, you are eligible to receive a lump sum advance of up to 50% of your coverage - provided your coverage has been in effect for at least two years and your premiums have been paid. The remainder of your coverage, minus the cash advance, will be paid to your beneficiary, with no adjustment for interest.

If you die accidentally before age 85, your beneficiary will receive five times the face amount of your policy (up to $125,000).

For death occurring in the first two policy years:

 

  • If death is due to a Pre-existing Condition, the death benefit is a return of premiums paid since the effective date of your coverage, with 10% interest compounded annually
  • If death is due to suicide, the death benefit is a return of premiums paid since the effective date of your coverage, without interest
  • If death is due to accidental causes before the age of 85, the benefit is five times the face amount (up to $125,000)

For death occurring after the first two policy years:

 

  • If death is due to non-accidental causes at any age, or accidental causes at age 85 or older, the death benefit is the face amount
  • If death is due to accidental causes before the age of 85, the benefit is five times the face amount (up to $125,000)

30-Day Satisfaction Guarantee

Once you have received your policy, you have 30 days to review it. If you are not completely satisfied, simply return it and your entire premium will be promptly refunded.

You are eligible to apply for the Guaranteed Issue Life Insurance for CARP Members – if you are:

  • a CARP member (or spouse) between the ages of 50 and 80 years old
  • a Canadian resident, excluding residents of Quebec

 

Limitations & Exclusions:

Benefits will not be paid for suicide within two years of the effective date of the policy. In such cases, total premiums paid will be returned without any interest adjustment.

Benefits will not be paid if death is due to a Pre-Existing Condition. In such cases, total premiums paid (with 10% interest compounded annually) will be returned.

A Pre-Existing Condition means any disease or physical condition, whether diagnosed or not, for which symptoms occurred or medical treatment was sought, recommended, required, or obtained, from or by a Physician (medical treatment including any medical advice, consultation, care, diagnosis, treatment or service provided by a Physician), or for which drugs were prescribed by a Physician, or taken by an Insured, during the 24-month period immediately preceding the Effective Date.

The information provided on the website is a brief summary of the Guaranteed Issue Life Insurance for CARP Members. This is not a contract. Actual terms and conditions are detailed in the policy issued by Manulife upon final application approval. It contains important details concerning exclusions, conditions and limitations. Please review it carefully upon receipt.

This product is currently not available to residents of Quebec

Monthly premium rates are based on your gender, smoking status and your age when you apply. Premium rates will not increase – once Policy issued. Coverage is available from $2,500 to $25,000, in increments of $2,500. Rates as posted in chart below are subject to change without notice.

Lower rates for non-smokers. Non-smoker rates apply to people who have not used any form of tobacco, tobacco cessation products or marijuana in the past twelve months.

Monthly Premium Rates for $2,500 of Guaranteed Life Insurance

Age Male Female
50 & 51 $6.50 $5.46
52 & 53 $7.25 $6.08
54 & 55 $8.08 $6.78
56 & 57 $9.09 $7.62
58 & 59 $10.25 $8.58
60 & 61 $11.60 $9.69
62 & 63 $13.22 $11.02
64 & 65 $15.07 $12.52
66 & 67 $17.21 $14.26
68 & 69 $19.66 $16.26
70 & 71 $22.44 $18.50
72 & 73 $25.58 $21.00
74 & 75 $29.16 $23.84
76 & 77 $33.23 $27.16
78 & 79 $37.87 $30.97
80 $41.48 $33.93

 

1 Non-smoker rates apply to people who have not used any form of tobacco, tobacco cessation products or marijuana in the past twelve months.

Age Male Female
50 & 51 $10.64 $7.54
52 & 53 $11.98 $8.37
54 & 55 $13.48 $9.28
56 & 57 $15.20 $10.35
58 & 59 $17.13 $11.56
60 & 61 $19.32 $12.94
62 & 63 $21.82 $14.58
64 & 65 $24.63 $16.43
66 & 67 $27.56 $18.54
68 & 69 $30.78 $20.93
70 & 71 $34.16 $23.56
72 & 73 $37.36 $26.35
74 & 75 $40.86 $29.47
76 & 77 $44.46 $32.90
78 & 79 $48.32 $36.72
80 $51.21  $39.64

How do I calculate my premium?

  1. To calculate your monthly premium, see the chart above and enter the applicable rate based on your age, gender and smoker status. If also applying for your spouse, insert the rate for your spouse as well
  2. Next enter the number of coverage units you wish to purchase, from one to ten
  3. Multiply the rate by the units to determine your monthly premium (1 unit = $2,500 of life Benefit)

CARP Member

Rate:  $______________       X  No. units: _______________  = $________________

           (from chart above)                     (Between 1 to 10)     (Monthly premium)

Spouse

Rate:  $______________       X  No. units: _______________  = $________________

           (from chart above)                     (Between 1 to 10)     (Monthly premium)

  1. Download PDF application and complete form, sign and date
  2. Mail in your completed application to:
    Manulife
    P.O. Box 670 Stn Waterloo
    Waterloo ON N2J 4B8

A downloadable PDF brochure (with rates) is available in the Resource Centre

Your coverage will begin on the date Manulife receives and approves your application form and your payment information.
For more information, contact a Manulife representative, toll-free at 1-800.369.4389.