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Protect your loved ones in the event of the unthinkable
Ensure your family's financial future, with practical protection that's endorsed by your alma mater.
Term Life Insurance can help provide financial security to your loved ones in case of your death. While most term life insurance plans have prices that are locked-in for a specified period, prices on this plan are based on your age-band (e.g. 30-34, 35-39 etc.). This low-cost plan provides coverage that can be used for anything from final expenses to children’s education to retirement for your spouse – whatever your beneficiary chooses.
Coverage Advantages
Affordable
The low group rates help make it possible for you and your spouse to obtain the amount of coverage you may need to secure your family’s financial future.
Save more with more coverage
Save 10% on your total premium with coverage amounts of $280,000 or more.
Renewable
Once coverage is in force, it is guaranteed renewable with no medical examination or health questions required at the time of renewal, even if your health has declined.
Coverage of up to $770,000 per person
Term Life Insurance provides coverage for you and your spouse in increments of $35,000 up to a maximum of $770,000 each, at group rates.
Living benefit in your time of need
Pays you 50% of your Term Life benefit amount (to a maximum of $100,000) if, after two years of continuous coverage, you are under age 83 and diagnosed with a terminal illness with a life expectancy of 12 months or less.
No premiums to pay if you are disabled
Your coverage continues at no charge to you if you, the Member, become totally disabled before age 65 and remain disabled for at least 90 consecutive days.
Other than a return of premium (without interest), no insurance coverage is provided for suicide within two years of the effective date of coverage.
You are eligible to apply if:
- You are an alumni member
- You are a Canadian resident
- You are between the ages of 18 and 70
Note: You may only apply for your spouse if you are applying for yourself as well or if you are already covered under this plan.
Accidents happen. If they do, financial relief can help take your mind off the immediate costs of an injury – so you can cope better during a very trying time.
Two coverages in one. Major Accident Protection combines Major Impairment coverage with Accidental Death coverage for both you and/or your spouse. The low monthly premium of $1.50 provides $50,000 of Major Impairment benefit plus $10,000 for Accidental Death to a maximum of $9.00 a month for $300,000 of Major Impairment benefit plus $60,000 for Accidental Death.
Eligibility
For the member and/or spouse to be eligible, the member must be applying for or already covered by Alumni Term Life Insurance to apply for Major Accident Protection. All applicants must be resident in Canada and at least 18 but under 61 years of age.
Maximum benefit
Maximum benefit is six units. The value of one unit is $50,000 in Major Impairment benefits plus $10,000 in Accidental Death benefits.
| Losses covered by the Major Impairment benefit | Amount payable* per unit of coverage |
|---|---|
| Brain damage | $50,000 |
| Total and permanent paralysis or loss of use of two limbs | $50,000 |
| Total and permanent loss of sight, speech or hearing | $50,000 |
| Loss of use of one arm, one leg, one hand or one foot | $25,000 |
| Total & permanent loss of sight in one eye or hearing in one ear | $25,000 |
| Accidental Death benefit | |
|---|---|
| Loss of Life | $10,000 |
| Monthly premium per coverage of $50,000 in Major Impairment benefits plus $10,000 in Accidental Death benefits | |
|---|---|
| Age 18, up to age 69 | $1.50 |
Limitations and Exclusions
Any loss must be caused by purely accidental means and must occur within three months of the accident. Benefits are not payable for suicide or self-inflicted injury, voluntary involvement in a criminal offence, insurrection or war, or flying except as a passenger with no flight duties on a commercial flight.
If anything were to happen to your children, expenses should be the last thing on your mind. Financial protection gives you one less thing to worry about.
Help protect your children for just pennies a day more, from the low monthly premium of $1.50 for $25,000 of Major Impairment benefit and $5,000 of life insurance to a maximum of $6.00 a month for $100,000 of Major Impairment benefit and $20,000 of life insurance. This benefit covers all your eligible children‡ regardless of how many.
Eligibility
- The member must be applying for or already covered by Alumni Term Life Insurance to apply for Child Life and Accident Insurance
- ‡Eligible children must be unmarried, dependent on you for support, and under 21 years of age (or under age 25 if attending an accredited educational institution, college or university full time).
- Once Child Life and Accident coverage is in force, newborn children are automatically covered upon reaching the age of 15 days
Maximum benefit
Maximum benefit is four units. The value of one unit is $25,000 in Major Impairment benefits plus $5,000 in Life benefits for each eligible child, regardless of how many children you have.
Limitations and Exclusions
Any Major Impairment loss must be caused by purely accidental means and must occur within three months of the accident, and the insured child who suffers the Major Impairment must survive the loss for at least 30 days. Benefits are not payable for injuries resulting from war or from any act of insurrection.
Term Life Insurance rates
| AGE3 | MALE | FEMALE |
|---|---|---|
| 18 to 29 | $2.45 | $1.75 |
| 30 to 34 | $2.55 | $2.00 |
| 35 to 39 | $3.25 | $2.40 |
| 40 to 44 | $4.90 | $3.80 |
| 45 to 49 | $7.50 | $5.45 |
| 50 to 54 | $11.25 | $8.00 |
| 55 to 60 | $18.50 | $13.00 |
| 61 to 64 | $25.90 | $18.45 |
| 65 to 69 | $40.40 | $28.78 |
| 70 to 744 | $78.40 | $55.25 |
| 75 to 79 | $142.70 | $101.10 |
| 80 to 84 | $251.15 | $176.95 |
| 85 | Coverage ends | |
Minimum Coverage: $35,000
Maximum Coverage: $770,000
RATES ARE SUBJECT TO CHANGE WITHOUT NOTICE.
Monthly premium5 per $35,000 unit of coverage – Smoker
| AGE6 | MALE | FEMALE |
|---|---|---|
| 18 to 29 | $3.50 | $2.75 |
| 30 to 34 | $4.35 | $3.25 |
| 35 to 39 | $5.95 | $4.10 |
| 40 to 44 | $9.75 | $6.80 |
| 45 to 49 | $14.75 | $9.85 |
| 50 to 54 | $21.75 | $14.10 |
| 55 to 60 | $32.50 | $22.50 |
| 61 to 64 | $53.65 | $33.30 |
| 65 to 69 | $93.90 | $49.95 |
| 70 to 747 | $167.15 | $92.40 |
| 75 to 79 | $259.10 | $158.95 |
| 80 to 84 | $357.55 | $254.30 |
| 85 | Coverage ends | |
Minimum Coverage: $35,000
Maximum Coverage: $770,000
RATES ARE SUBJECT TO CHANGE WITHOUT NOTICE.
| Monthly premium per coverage of $50,000 in Major Impairment benefits plus $10,000 in Accidental Death benefits** | |
|---|---|
| Age 18, up to age 69 | $1.50 |
Minimum Coverage: $50,000 for Major Impairment plus $10,000 for Accidental Death
Maximum Coverage: $300,000 for Major Impairment plus $60,000 for Accidental Death
| Monthly premium per coverage of $25,000 in Major Impairment benefits plus $5,000 in Life Insurance benefits*** | |
|---|---|
| Covers all eligible children | $1.50 |
Minimum Coverage: $25,000 for Major Impairment plus $5,000 for Life Insurance
Maximum Coverage: $100,000 for Major Impairment plus $20,000 for Life Insurance
Take action
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Still have questions?
Call a Licensed Insurance Advisor at 1-888-913-6333
(Monday – Friday 8am – 8pm ET)
or e-mail us at am_info@manulife.ca
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Get a quote and applyOur 30-day guarantee
Your satisfaction is our number one priority. Once you receive your insurance policy, examine it carefully. If you are not completely satisfied, contact us within 30 days and we will cancel your coverage and refund your premium in full, no questions asked.8