Manulife CoverMe

Case Study: Being Self-Employed

Take care of business

Have you protected yourself and your family from some of the risks of working for yourself? Making ends meet is hard enough at the best of times. How would your family cope financially if you were to become seriously ill or die unexpectedly?

Life and health insurance protection is available for self-employed Canadians, and it may be more affordable than you think. Plus if you're self-employed, you may be able to deduct the cost of your health insurance premiums from your business income. More importantly, you'll have the satisfaction of knowing that you've protected yourself and your family.

It's a smart business decision. Period.

Get Protection

If you're self-employed, you have to look after numerous details that most employees take for granted.

You should consider:

  1. Life insurance to protect the people who depend on you; and
  2. Health and dental insurance to protect your budget from rising health care costs that are not covered by your employer or provincial plan. Click here for more information.

Life Insurance

But what type of insurance is right for you? Should you buy permanent life insurance or term life insurance?

Term life insurance offers affordable premiums and flexibility. However, it's important to know that, unlike permanent life insurance, term life insurance has no additional cash value.

CoverMe™ Term Life is a 10-year renewable term life insurance plan. If your application is approved, your premiums are guaranteed to remain the same for the initial 10-year period.* You can apply to increase or decrease your coverage to suit your changing needs as a business person. You can also renew your coverage automatically up to age 85 without answering any additional medical questions.

If you're self-employed, CoverMe Term Life insurance may be the perfect way to make sure you are covered by a flexible insurance plan that meets your needs. And you'll have peace of mind knowing you're protecting the ones you love.

*Note: Renewal premiums are not guaranteed. However, at each 10-year policy anniversary, if you renew at the then applicable premiums, your premiums will remain the same for the next 10-year term.