The affordable way to ensure your loved ones are protected
If you are between the ages of 18 and 70, CoverMe Term Life insurance offers coverage from $100,000 up to $1,000,000. You can choose the amount of coverage that best suits your family and budget, so you won't end up paying for something you don't want or need.
The CoverMe Term Life insurance plan gives you a simple, economical way to secure your family's financial security. Even if you already have some life insurance elsewhere, the low cost of CoverMe Term Life makes it easy to 'top up' your existing coverage.
The younger you are when you apply, the lower your rates will be. Apply now - before your next birthday - and you'll pay a lower premium. The premium you pay when you apply is guaranteed not to increase for 10 years..
Simple, affordable protection
Dollar for dollar, term life insurance offers you one of the most economical ways to get the maximum amount of protection.
Insurance that covers you - and your spouse
Choose the amount of coverage that suits your lifestyle and budget - from $100,000 up to $1,000,000. Your spouse should consider applying for coverage as well. Use our calculator to estimate how much life insurance you both may need.
Premiums are guaranteed for 10 years
Premiums are set and guaranteed for 10 years when your policy is initially issued. Renewal premiums are not guaranteed, which means that they will increase at each 10-year renewal (as you get older), but once your renewal premiums are set, they will remain the same for the next 10-year term.1
Coverage is renewable up to age 85 - guaranteed
Your coverage is guaranteed renewable up to age 85 - regardless of any changes in your health. Your coverage will not be cancelled as long as your premiums are paid.
No medical underwriting upon renewal
When your coverage renews in 10 years, it will be at your new age-based rate - without any medical exams or questionnaires required at the time of renewal.
Conversion to a Permanent Life insurance policy
If you wish, you can convert your CoverMe Term Life insurance policy at any time before your 70th birthday without providing medical information or undergoing a medical examination at the time of conversion. You are limited only by the Manulife conversion products available and their restrictions regarding coverage amount and minimum premium. For more information about conversion options contact us.
In the event of your death, your beneficiaries will receive a tax-free benefit. They can use the lump-sum payment towards the mortgage, outstanding debts and loans, living expenses, education expenses... the choice is theirs.
Living Benefit included - at no additional cost
Should you be diagnosed with a terminal illness with less than 12 months to live, you may be eligible for a compassionate one-time cash advance of up to 50% of your term life insurance coverage (to a maximum of $100,000). This cash advance is tax-free and yours to use however you wish.2
You own your coverage
Unlike group coverage that can change or end as you move from one employer to another or retire, you will "own" your CoverMe Term Life insurance coverage up until age 85.
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When you pay your premiums monthly, you have the opportunity to collect
30-Day Money-Back Guarantee
If you are not completely satisfied with your CoverMe Term Life insurance policy, you may return your policy to Manulife within 30 days of the issue date to have your coverage cancelled and your entire premium will be promptly refunded.
Applying is fast and easy
Life insurance is an essential part of any sound financial plan. Apply online in the comfort of your home, when it's convenient for you.
1Renewal premiums are not guaranteed. However, at each 10-year policy anniversary, when you renew at the then applicable premiums, your premiums will remain the same for the next 10-year term.
2To be eligible for the CoverMe Term Life Living Benefit, you must be less than 83 years of age and your policy must be in effect for at least two years.
Once you receive your CoverMe Term Life insurance policy, review it carefully. If you are not completely satisfied, you may return your policy to Manulife within 30 days of the issue date to have your coverage cancelled, and your entire premium will be promptly refunded. No questions asked.
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 them carefully upon receipt.