Term Life Insurance

Coverage of up to $750,000 per person 

Term Life Insurance provides coverage for you and your spouse in increments of $50,000 up to a maximum of $750,000 each, at low rates exclusive to your association.

Living benefit in your time of need

Automatically included in the Member and Spouse Term Life Insurance is a Living Benefit feature. If, after two years of coverage, you are diagnosed as terminally ill with a life expectancy of 12 months or less, you may qualify to receive a portion of your Term Life benefits in advance (up to 50% of your coverage to a maximum of $50,000). 

No premiums to pay if you are disabled

If you are insured under the term life plan and you become totally disabled before age 65, we will waive all term life premiums that are due after three months of Continuous Disability and for as long as your total disability continues.

Conversion option

If you are under age 76, you can convert your Term Life Insurance plan to a Manulife Individual Permanent Life Insurance plan, without evidence of insurability.

In the event of suicide (while sane or insane) in the first two years of coverage, no benefit will be payable, and all premium payments will be returned. 

• Must be an active member between age 18 and 60 inclusive
• Must be a Canadian resident
• Acceptance is not guaranteed – applicants must meet the underwriting standards

Spouse coverage

• Spouse is eligible for coverage if member is insured
• Spouse must be between the ages of 18 and 60 inclusive
• Must be a Canadian resident to apply

You have the ability to buy the same amount of coverage for your spouse as you do for yourself, amounting to up to $750,000 per person – and at low group rates. Once insured, you can both choose to make your coverage permanent and to add coverage for your children as well.

Protect every member of your family. Your association offers you a total family life insurance solution, with the opportunity to add Child Life coverage to your Member Term Life Plan for just pennies a day more.

• Cover each of your eligible children for $10,000 of Term Life Insurance for a single low monthly payment of $2.25, regardless of how many children you have.
• Newborn children become automatically insured under your Child Life coverage upon reaching 15 days of age, at no additional cost to you.

Monthly premiums for $10,000 of Child Life coverage

$10,000 coverage for each of your eligible children: $2.25

$10,000 coverage for each additional child: No additional premium

Child Life eligibility:

You must be insured under the Member Term Life Plan for children of that member to be eligible for Child Life coverage. Children, stepchildren and adopted children are eligible for coverage if they are unmarried, dependent on the member for support, and at least 15 days but not yet 21 years old (or not yet 25 years old if they are in full-time attendance at an accredited educational institution).

• The perfect complement to Term Life coverage, Personal Accident Insurance is a convenient, cost-effective way to help ensure that your family is able to cope financially and cover immediate costs in the event that an accident leads to permanent disability, temporary disability or worse.
• The lump-sum, tax-free benefit payment can be used for whatever you wish, replace lost income, pay for rehabilitation and health care expenses, settle outstanding debts and/or final expenses – whatever you and/or your loved ones need.
• You’ll be protected at home, at work, even when you’re out of the country – 24 hours a day, 7 days a week – right up to your 75th birthday.
• Costs start at $2.50 a month and do not increase with age.
• If you die accidentally and have both Term Life Insurance and Personal Accident Insurance, both coverages are paid to your beneficiaries.

Personal Accident benefit amounts

Choose up to $250,000 of Member Personal Accident coverage or of Family Personal Accident coverage in increments of $50,000.

• Under Family Coverage, the value of each unit for spouses is $25,000, or $20,000.
• If your children are also covered, and the value of each unit for each child is $20,000, or $10,000 if your spouse is also covered.

Monthly premiums

Per $50,000 increment of coverage, maximum $250,000

Member coverage only: $2.50

Family coverage (member, spouse and all eligible children): $3.50

Personal Accident benefits

Home Alteration and Vehicle Modification Benefit

If, as a direct result of an accidental injury, you require the use of a wheelchair to be ambulatory, you will also receive an additional Home Alteration and Vehicle Modification Benefit of up to $10,000 to help pay for alterations to your home and vehicle to make them wheelchair accessible.

Seat Belt Benefit

If loss of life is a direct result of an accidental injury sustained while driving or riding in an automobile, Manulife will pay an additional Seat Belt Benefit in the amount of 10% of the Accidental Death Benefit, provided:

• the automobile was equipped with seat belts;
• the seat belt was in use and properly fastened at the time of the accidental injury; and
• the position of the seat belt is certified in the official report of the accident or by the investigating police officer.

Beneficiary

The beneficiary is the insured member if living; otherwise, the beneficiary is the same as the one appointed under the Term Life Insurance plan.

Exclusions

Only losses that occur within one year of an accident as a direct result of that accident are covered. Benefits are not payable if death or impairment results from self-inflicted injury, voluntary involvement in a criminal offence, physical or mental infirmity or disease, insurrection or war, or flying (except as a passenger on a commercial flight).

In the event of two or more losses arising from the same accident, only the loss with the greater benefit amount will be paid. Coverage ends at age 75. Please refer to the contract for a complete list of risks not covered.

Eligibility:

• Must be a resident of Canada between 18 and 60 years of age
• Must be insured under the Term Life Plan to be eligible for Personal Accident coverage
• Must be insured under the Term Life Plan for their spouse to be eligible for Personal Accident coverage

Minimum Coverage: $50,000 

Maximum Coverage: $750,000

The value of each increment is $25,000 until age 65. Starting at age 66, coverage reduces by $2,500 per $25,000 increment per year and ends at age 75. 

Insured members aged 73 and 74 are covered for $5,000 and $2,500 per $25,000 increment, respectively, without premium charge.

Note: Rates are subject to change without notice.

¹ Non-Smoker rates apply to people who have not smoked cigarettes in the past 12 months and who meet Manulife’s health standards.

² “Age”, for the calculation of premiums and the determination of benefits, means the age attained as of the beginning of each policy year (March 1^st).

³ Rates for those 61 and over are for renewals only.

Minimum Coverage: $50,000

Maximum Coverage: $750,000

The value of each increment is $25,000 until age 65. Starting at age 66, coverage reduces by $2,500 per $25,000 increment per year and ends at age 75.

Insured members aged 73 and 74 are covered for $5,000 and $2,500 per $25,000 increment, respectively, without premium charge.

Note: Rates are subject to change without notice.

¹ “Age”, for the calculation of premiums and the determination of benefits, means the age attained as of the beginning of each policy year (March 1^st).

² Rates for those 61 and over are for renewals only.

Association members and their spouses who are between 18 and 60 years of age and who are residents of Canada are eligible to apply.

Your coverage will start on the date we receive your completed application online or through the mail, provided that:

• you are a resident of Canada and between 18 and 60 years of age;
• you are insurable on that date in accordance with our underwriting rules; and
• the first premium due is paid.

When reviewing your application, if we find that you do not qualify for this coverage, we will notify you immediately and refund any premium paid.

If you are considering replacing an existing individual term or permanent life insurance policy, we recommend that you contact us to help you compare the features of both plans so that you can decide which one best meets your needs. Our customer support staff will be happy to assist you. Simply contact us.

A death benefit is the amount paid to your beneficiary if you die while your life insurance plan is in effect. A living benefit is the amount paid to you when you meet certain conditions. For example, you may receive part of your life Insurance death benefit while you are alive if you are diagnosed with a terminal illness with less than 12 months to live.