NEW Term 20 Life Insurance

Protect your loved ones through life’s hardest moments

Your life can take a sudden turn without warning. Fortunately, with the right coverage, your family’s future can stay protected longer than ever before.

Our NEW Term 20 Life Insurance — with exclusive rates for alumni members, can help your loved ones pay major expenses in case of your passing. Your premium is guaranteed to stay the same for 20 years, regardless of health changes. As rates are based on your age at the time of initial application, the younger you are when you apply, the lower your rates will be. Your beneficiary can use pay outs for anything, including final expenses, children’s education, retirement, or unpaid debts.

Coverage ranges from $50,000 to $2 million (in increments of $25,000). Additionally, if you’re diagnosed with a critical illness and have less than 12 months to live, you can get up to 50% of your coverage (max. $200,000) through a built-in Living Benefit — providing you’ve had coverage for at least two straight years.

Coverage advantages

Affordable

The low group rates help make it possible for you and your spouse to obtain the amount of coverage you may need to secure your family’s financial future. Plus, the younger you apply, the lower your rates will be. Lower rates available for non-smokers.1

Premiums Guaranteed

Rates are guaranteed not to change for 20 years, regardless of health changes, at time of initial application.2

Renewable to age 90

Once coverage is in force, it is guaranteed renewable with no medical examination or health questions required at the time of renewal, even if your health has changed.3

Coverage of up to $2,000,000 per person 

Term 20 Life Insurance provides coverage for you and your spouse coverage in increments of $25,000 up to a maximum of $2,000,000 each, at group rates.

Living benefit in your time of need

Pays you 50% of your Term Life benefit amount (to a maximum of $200,000) if, after two years of continuous coverage, you are under age 85 and diagnosed with a terminal illness with a life expectancy of 12 months or less — providing you’ve had coverage for at least two straight years. All future premiums will be waived from the time of the Living Benefit payment until time of death.

Other than a return of premium (without interest), no insurance coverage is provided for suicide within two years of the effective date of coverage.

You are eligible to apply if:

  • You are an alumni member or their spouse4
  • You are a Canadian resident
  • You are between the ages of 18 and 70

Ready to apply for Term 20 Life Insurance?

Start by choosing the coverage that's right for you, get a quote, then move along to applying conveniently online. It's easy and quick to get started right now.

 Get a quote and apply

Our 30-day money-back guarantee

Your satisfaction is our number one priority. Once you receive your Insurance Policy, examine it carefully. If you are not satisfied, contact us within 30 days and we will cancel your coverage and refund your premium in full, no questions asked.5

1 Non-smoker means a person who has not used any cigarettes, e-cigarettes, vapes, cigarillos, chewing tobacco, nicotine substitutes (such as gum or patches), shisha or hookah pipe, betel nuts, nicotine or tobacco in any form in the past 12 months.

2 Unless you make changes to your coverage.

3 Limitations, exclusions, and conditions may apply. Manulife reserves the right to request medical information (tests and/or questions) deemed necessary to approve an application for insurance.

4 Eligible spouse means a person who is legally married to the member, or if not legally married to the member, resides with the member in a conjugal relationship for a continuous period of not less than 2 years.

5 The insured may, within thirty (30) days after receiving this policy, return it to the address below for cancellation. The policy will be considered never to have come into effect and any premium paid up to the end of the 30-day examination period will be refunded, less any claims paid. Where claims paid exceed premiums, the difference must be repaid to the insurer immediately. This right of cancellation expires thirty (30) days after the policy is received by the insured and does not apply to any reissued, substituted or consolidated policy continuing coverage that commenced under a previously issued policy. The rights of any beneficiary under the policy are subject to this right of cancellation.

Plans underwritten by The Manufacturers Life Insurance Company (Manulife).

Manulife, Manulife & Stylized M Design, and Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license. © 2026 The Manufacturers Life Insurance Company. All rights reserved. Manulife, P.O. Box 670, STN Waterloo, Waterloo, Ontario N2J 4B8.

Individual circumstances may vary. You may wish to contact one of Manulife's licensed insurance advisors or your licensed insurance agent if you need advice about your insurance needs.

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Underwritten by The Manufacturers Life Insurance Company (Manulife).

Manulife, Manulife & Stylized M Design, and Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license. © 2026 The Manufacturers Life Insurance Company. All rights reserved. Manulife, P.O. Box 670, STN Waterloo, Waterloo, Ontario N2J 4B8.

Individual circumstances may vary. You may wish to contact one of Manulife's licensed insurance advisors or your licensed insurance agent if you need advice about your insurance needs.