Important information about InsureRight
Manulife’s InsureRight is a calculator that provides an estimate of the amount of life, disability and critical illness insurance you may need. InsureRight’s estimates are based on the information you provide. Your insurance needs will change over time, so you should periodically review these needs with your advisor.
InsureRight also provides estimates of initial monthly costs based on the amount of insurance suggested. For additional information, contact your advisor.
The InsureRight calculator includes three needs analysis sections: life insurance, disability insurance, and critical illness insurance. Each section of the calculator works independently and provides an amount specific to one type of insurance. The analysis and estimates for each section do not consider benefits that may be received from other types of insurance.
The disability and critical illness needs analysis sections offer several factors to consider when calculating your needs. Some of these factors may overlap, such as replacing your income or covering your expenses.
For either section, if the income calculated is intended to cover monthly expenses, you may want to skip the monthly expense section to avoid inflating your insurance needs.
This website does not provide an offer to insure.
Applications for insurance are subject to underwriting.
Rates are subject to change without notice.
Manulife’s insurance products and costs:
Manulife considers “age” to be your age at your nearest birthday, which may or may not be the age used by this calculator.
Family Term provides low-cost, term insurance protection. Term-20 coverage is a renewable and convertible term insurance designed to meet traditional personal and business insurance needs. Initial and renewal premiums are guaranteed at issue. The premium rate for the policy increases at every 20th coverage anniversary. Term-20 is renewable to age 80 and convertible to permanent insurance coverage until age 75.
Family Term is underwritten using our Healthstyles program – a rating system based on your health and lifestyle. Our estimate assumes Healthstyle 3 (non-smoker) and Healthstyle 5 (smoker) which may or may not be the Healthstyle you qualify for. Only initial premiums are provided. Initial premiums will be established during the underwriting process and shown in your contract when issued. While renewal premiums are guaranteed at issue, they are not provided through this tool. Premiums listed include policy fees.
Venture Series is a disability insurance plan that provides a monthly benefit to replace your income if you become disabled. The plan is non-cancellable and guaranteed renewable to age 65. The premium range provided is calculated based on occupation categories of 3A and B. Premiums assume an Elimination Period of 90 days, Decreasing Benefit Period to age 65, Total Disability only, and five year Regular Occupation Period. Premiums will be established during the underwriting process and shown in your contract when issued.
Lifecheque is a critical illness insurance plan that can provide a cash benefit if you are diagnosed with one of the conditions defined in the contract and satisfy the waiting period. The premium rate for the 10-year Renewable policy increases at every 10th coverage anniversary. 10-year Renewable offers protection to age 75.
Return of Premium on Death (ROPD) returns the money you’ve paid if you die before becoming eligible for a covered condition or LivingCare benefit if applicable. The benefit amount you will receive equals the premiums you paid for this rider, any other Return of Premium riders on the associated Lifecheque coverage plus the premiums paid for that Lifecheque insurance coverage, including any applicable rating, up to the coverage limit. The ROPD benefit is reduced by any recovery benefit and/or care benefits that have already been paid-out by Manulife.
Synergy, Term - 10 is a combination insurance plan which includes a life insurance policy, a disability insurance policy and a critical illness insurance policy – all in one affordable, easy-to-manage package. Your Synergy premium changes every 10th Synergy anniversary up to age 65. Initial and renewal premiums are guaranteed at issue.
The Term Insurance rider (TIR) provides additional life insurance protection. It is a low-cost renewable and convertible term insurance designed to meet traditional personal and business insurance needs. Initial and renewal premiums are guaranteed at issue. The premium rate of the rider increases at every 10th coverage anniversary.