Manulife CoverMe
CoverMe Term Life Insurance Key Benefits

Why choose CoverMe Term Life insurance? It offers peace-of-mind in more ways than one.

Choice for you

You choose the amount of coverage that best suits your stage of life, your lifestyle and your budget - from $50,000 up to $1,000,000 (in increments of $25,000). If you need help determining the right amount of coverage for you, you can use our tool to help calculate your life insurance needs.

Affordable coverage

Dollar for dollar, term life insurance offers you one of the most affordable ways to get the maximum amount of protection.

Rates are guaranteed not to increase for the first 10 years

For the first 10 years, your premiums will not increase and your benefits will not decrease - guaranteed!*

Guaranteed renewable

Your coverage is guaranteed renewable up to age 85 - regardless of any changes in your health.

Conversion option

If your needs change in the future, you can convert your CoverMe Term Life coverage to a Manulife permanent life insurance policy. Learn more.

Living Benefit

The CoverMe Term Life Living Benefit helps you when you need it most. It pays you a compassionate one-time cash advance of up to 50% of your term life insurance coverage (to a maximum of $100,000) if you are diagnosed as terminally ill with 12 months or less to live.†

Ideal alternative to mortgage life insurance

Unlike traditional mortgage life insurance whose value decreases as you pay down your mortgage balance, the CoverMe Term Life plan pays the full original face value of your policy to your beneficiary. Learn more.

Choice for your beneficiary

With CoverMe Term Life insurance, your beneficiary isn't taxed on the benefit amount. They can use it towards paying the mortgage, to pay off other loans, living expenses, or for education expenses - the choice will be theirs.

Non-smokers save up to 50%

Non-smokers enjoy up to 50% savings on their premiums compared to smokers. If you apply as a smoker, you can still apply to switch to the lower non-smoker premiums once you've quit smoking for at least 12 months.

Flexible payment options

Choose the payment method that suits you best: cheque, Visa, MasterCard, American Express or direct monthly withdrawal from your chequing account by Pre-Authorized Collection.


Apply in the comfort of your home, when it's convenient for you.


When you pay your premiums monthly, you have the opportunity to collect AIR MILES® reward miles every year as a CoverMe Term Life policyholder.

30-Day satisfaction guaranteed

We feel it's important for you to be absolutely satisfied that this is the right policy for you and your family, and back it up with a 30-day money-back guarantee. 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.

From a company you can trust

The CoverMe Term Life insurance plan is offered through Manulife (The Manufacturers Life Insurance Company), one of Canada's oldest and largest insurance providers. We've been earning the trust of Canadians for more than 120 years; we look forward to earning yours.

*Renewal 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.

†To 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.