Insurance is designed to protect your financial security and should be a key part of your overall financial plan. Depending on the type of insurance you purchase, you or your beneficiaries receive a cash benefit if you suffer a disability, become ill or die.


HOW TO BUY LIFE AND HEALTH INSURANCE

You may be able to get some life and health insurance coverage through your employer’s group benefits plan. For individual insurance, you can purchase through a professional advisor or, for some products, buy online or through an association (affiliation group plan).
While you’ll find product information and an insurance needs calculator on this website, we encourage you to meet with your Manulife advisor to review your goals and needs and understand your options. Whether it’s family protection, income protection, business continuity, wealth accumulation or estate preservation, your advisor can help develop a strategy ideal for you and your family.




LIFE INSURANCE

Life insurance pays a tax-free cash benefit to your beneficiaries when you die, which can be used to pay debts and expenses, provide an income for your family, and leave a legacy to family members or a charity. In addition, some insurance policies can also build savings you can access while still living.


TERM

Our flexible, affordable Family Term can help you:

  • Put a plan in place for a specified period: 10 years, 20 years or lifetime
  • Protect your mortgage a solid alternative to a lender’s mortgage insurance
  • Ensure funds are available to cover existing debt, support long term costs and supplement your spouse’s income.
  • Get coverage that can increase or decrease as your needs change
  • Cover your entire family in one, easy-to-manage plan.

  • UNIVERSAL LIFE

    Golden Compass’s universal life insurance plans - InnoVision, UltraVision, Limited Pay UL and Security UL - can help you:

  • Gain the dual advantage of permanent insurance protection and tax-advantaged investing.
  • Leave a tax-free legacy to your loved ones or favourite charity
  • Use your policy’s cash value as collateral for a loan
  • Get access to the cash value on a tax-free basis if you become disabled
  • Custom design solutions for your tax and estate planning needs
  • Choose how much and how often to pay with a flexible payment structure

  • WHOLE LIFE

    Performax Gold’s guaranteed, flexible, lifetime protection can help you:

  • Benefit from the dual advantage of permanent insurance protection and tax-advantaged investing with guaranteed cash values
  • Grow your cash values on a tax-deferred basis to help fund your retirement
  • Leave a tax-free legacy to your loved ones or favourite charity
  • Get an alternative to investing in tax-exposed investments like GICs
  • Use as collateral for a loan
  • Insure up to 20 people within one policy




  • HEALTH INSURANCE


    Health insurance can help cover the costs of care and recovery from a disability, critical illness or other health need. Also known as ‘living benefits’ insurance, health insurance pays cash benefits while you are alive and helps protect your income or investments while you recover. Health insurance can be used to pay debts and expenses, provide supplementary income, or pay for in-home or facility-based long-term care.
    Individual Health and Dental Insurance can help cover routine and unexpected medical expenses not covered by your Government Health Plan. You regularly have to pay routine, basic expenses like prescription drugs, dental check-ups, eye wear and massage therapy out of your own pocket. Those bills can add up quickly, especially if you have a family, often costing thousands of dollars each year. Health Insurance can provide benefits for routine expenses and provide you with additional benefits such as homecare, hospital coverage, Health Service Navigator and more.
    If you’re planning a trip, expecting visitors, visiting Canada or studying away from home, it’s wise to obtain emergency medical travel coverage to be financially protected from unexpected medical emergencies that may happen prior to or during your trip. The price of being unprepared for medical expenses outside of Canada can be staggering. Travel insurance can help cover these unexpected medical costs.


    CRITICAL ILLNESS

    Golden Compass’s Lifecheque can help you:

  • Pay the bills and the mortgage if you can’t work because of a covered condition - without depleting your savings and investments
  • Cover your children within your policy
  • Pay for medical care and treatment outside of Canada
  • Hire a caregiver to help you at home
  • Pay for medical equipment or home modifications not covered by other plans Take a vacation to help you recover
  • Gain additional peace of mind with built in features like: long term care protection and a world-class medical second opinion service


  • DISABILITY

    Golden Compass’s flexible individual disability insurance plans, Proguard and Venture Series, can help you:

  • Ensure you and your loved ones have monthly income if you can’t work due to a serious illness or injury
  • Supplement your employer-provided group coverage
  • Get top-quality income protection at a discount if you’re an eligible student or recent graduate
  • Get specialized disability protection with optional coverage like: special protection for medical and dental professionals practicing invasive procedures, inflation protection, and a way to contribute to your retirement funding while you’re disabled
  • Gain additional peace of mind that comes from knowing when your need for income protection ends at retirement, you may be able to exchange your Proguard or Venture Series policy for Golden Compass long term care insurance


  • LONG TERM

    Golden Compass’s LivingCare can help you:

  • Pay for long term care in your home or in a facility without depleting your retirement savings
  • Cover yourself and your spouse in one policy and share a pool of benefits with the unique Shared Coverage option
  • Pay for medical equipment or modifications to your home
  • Receive an easy-to-manage monthly benefit that doesn’t require you to submit receipts for long term care expenses
  • Give the gift of long term care protection to your parents by purchasing a policy for them


  • DENTAL

    Golden Compass’s Health and Dental plans can help you:

  • Cover routine and unexpected health care expenses not covered by your Government Health Plan
  • Provide coverage for both you and your family
  • Provide coverage for prescription drugs, dental services, and other health care benefits such as vision, hospital, home care, registered specialists and more
  • Top-up your existing group coverage
  • Customize or choose from a variety of plans to suit your needs


  • TRAVEL

    Golden Compass’s Travel insurance

  • Provides coverage for emergency medical expenses as a result of emergency medical attention required during your trip
  • Offers a variety of different plans for Canadians travelling out of province, those visiting Canada, and for students studying out of their home province or country.


  • Those choosing a funeral insurance policy are usually concerned that their families are covered financially when the people die so that the beneficiaries are not burdened with the cost of the funeral arrangements or the debt that the person has. They also might be purchased as a way for children or grandchildren to have a gift when the person dies, leaving behind a sum of money through a simple life insurance policy.

    There are three types of life funeral insurance that people buy. Term insurance is the cheapest, often costing about ten to twenty dollars per month, depending on the payout. Whole life insurance is permanent insurance and follows the person throughout his life, thus gaining value. Universal life insurance also gains value and works like a tax deferred savings account and can also be used as a funeral insurance coverage.

    With Funeral Insurance when there are times that a person might find that he is in need of money or that some family member is in need of money. This can be the case in times of terminal illness or chronic illness when a person is in the hospital and has large bills to pay. With most life insurance policies there is a terminal illness benefit, which means a terminally ill person can get access to a portions of the insurance proceeds while living and dealing with the illness.

    With a funeral insurance policy not only will it pay out in case of death, but it can also payout a portion before death. Please speak with one of our advisors for more information on this and any other questions you may have. If the terminal illness benefit is used the death benefit payout is the paid out less the amount already used for the terminal illness paid out.