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What’s new at Manulife Insurance Thumbnail

What’s new at Manulife Insurance

A collection of important updates for advisors.

Manulife illustrations insurance online tool

Always current, always available – say hello to the Manulife Illustrations insurance online tool. This tool is accessible on your laptop or iPad while you’re on the go, and there’s no wasted time waiting for CD software updates. Enjoy a sleek new design that’s easy to use and understand.

You can run illustrations for Family Term, Business Term, Family Term with VitalityTM, and Manulife Par illustrations with Estate Bond (Corporate) and Insured Retirement Program (Corporate) sales concepts. Coming soon is the Family Term Renewal Calculator: Term-10. This self-serve tool will enable you to calculate the next renewal cost for Term-10 coverages instead of relying on our Manulife call centre to calculate this information for you.

Access the tool either through the Tools tab on Repsource (private) and click on Manulife Illustrations or from the Diamond View software homepage.

Disability insurance available to more students and new grads

Manulife’s Grad Advantage Program (GAP), which offers disability insurance to students and new graduates, now includes three more professions: college computer graduates, electricians and plumbers. College computer grads qualify in either the final year of their diploma program or the first year of work. Electrical and plumbing apprentices and first-year journeymen are eligible.

Because students and new grads often don’t have an established financial track record, Manulife continues to waive, for select professions, the financial underwriting normally required for disability insurance. Eligible GAP clients may also qualify for a 15 per cent discount on the Proguard Series®.

Underwriting updates

Manulife wants to make it easier for your clients to apply for disability coverage, so we are simplifying the application process for two age categories – now no fluids are required! Refer to the table below for full details on these underwriting updates:

Issue ageProguard Series, Venture Series® and ExpenseComp®
18–40Monthly benefit up to and including $6,000 (additional insurance rider [AIR] not factored in)
41+Age 41–60: Monthly benefit up to and including $2,500 (only 25% of AIR factored in for Proguard Series and Venture Series
Issue ageBuy-Sell Plus
18–40Benefit up to and including $249,999 (future income option [FIO] not factored in)
41+Age 41–50: Benefit up to and including $249,999 (only 25% of FIO factored in)

Note: All health care workers who perform invasive procedures or are exposed to blood products require a blood profile with a hepatitis screen or proof of vaccination. Applicants for a health protection rider (HPR) where a blood profile is required will also require a hepatitis screen or proof of vaccination.

Manulife Vitality available on health and dental coverage

We’ve expanded the Manulife Vitality program1 to our health and dental products so that your clients can earn rewards and save on their premiums, all while helping to improve their health.

The Manulife Vitality program is now available to adult primary policyholders as an optional add-on to new Flexcare® and FollowMe™2 health and dental plans, but not as a stand-alone coverage.

The Manulife Vitality option is competitively priced with a 5 per cent discount on the first-year premium. Premiums are adjusted on each policy anniversary based on the policyholder’s Vitality Status™.

Participating members can choose a Garmin Vivofit®43 at no extra cost, or they can choose to earn a free Series 3 or Series 5 Apple Watch,4 with monthly payments based on the number of Vitality Points™ earned each month. The more points earned monthly, the less they pay! Other rewards include discounts with Hotels.com5 and GoodLife Fitness,6 as well as a complimentary annual health assessment.

1 The Vitality Group Inc., in association with The Manufacturers Life Insurance Company, provides the Manulife Vitality program. Vitality, Vitality Status and Vitality Points are a trademark of Vitality Group International, Inc., and is used by The Manufacturers Life Insurance Company and its affiliates under license. Manulife, Manulife & Stylized M Design, and Stylized M Design are trademarks of The Manufacturers Life Insurance Company, and are used by it, The Vitality Group and its affiliates under license. Eligibility and availability of rewards are not guaranteed and may change over time. Insurance provided by The Manufacturers Life Insurance Company.
2 Flexcare and FollowMe are trademarks of The Manufacturers Life Insurance Company, and are used by it, and its affiliates under license.
3 Garmin and Vivofit are registered trademarks of Garmin Ltd. or its subsidiaries.
4 Initial payment does not include applicable taxes or upgrades which may include cellular models. Tax on initial payment is based on retail value of Apple Watch. Apple Watch Series 3 and Apple Watch Series 5 require iPhone 6s or later with iOS 13 or later. Wireless service plan required for cellular service. Apple Watch and iPhone service provider must be the same. Apple is not a participant in or sponsor of this promotion. Apple Watch is a registered trademark of Apple Inc.
5 Hotels.com is not a participant in or sponsor of this promotion. Hotels.com and the Hotels.com logo are trademarks of Hotels.com, LP.
6 GoodLife Fitness® and GoodLife Fitness are trademarks or registered trademarks and are used under license.