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Provide for your family, even after you've gone
You’re there for your family every day, providing love, comfort and security – and you need to know they’ll be okay, no matter what. If you pass away, Term Life Insurance gives your spouse and family money they can use for whatever they need most. That's reassuring for them, and for you, since you don't need to worry about how they'll fare financially.
Our Term Life Insurance solutions are comprehensive and affordable, especially when you consider how much that financial cushion could matter to those you leave behind.
You and your spouse can each enjoy up to $1.5 million in coverage.
Coverage to age 85
Qualifying for life insurance may become difficult as you get older. Engineers Canada-sponsored Term Life coverage continues to age 85 so you can keep renewing your insurance without any additional medical tests required at the time of renewal. This means you can stay covered long into your retirement years regardless of how your health may change.
Up to 50% cash advance
If you are diagnosed as terminally ill with less than 12 months to live prior to age 83, you can apply to receive a cash advance of up to 50% of your Term Life Insurance amount (to a maximum of $200,000). This is called a Living Benefit. It is automatically added at no extra cost to Term Life plans that have been in effect for two years.
Enhanced Job Loss Waiver of Premium
If you’re unemployed before age 65 for 30 consecutive days due to involuntary layoff, dismissal without cause, or loss of self-employment, your coverage will continue free-of-charge for up to 12 months. This benefit is included at no extra cost.
Not tied to your employer
Even if you're already covered at work, keep in mind that most employer plans end when you leave. Engineers Term Life is not tied to your employer so you stay protected even if you change jobs, retire or move to anywhere in the world.
Optional coverage beyond age 85
Add the Insurance Continuation Benefit when you apply for Term Life for you and your spouse for a small additional charge. When you reach age 85, it will replace your Term Life coverage with premium-free permanent life insurance equal to $2,500 per $25,000 of Term Life coverage you have. That’s up to $150,000 of premium-free permanent life insurance for the rest of your life.
Suicide within 2 years of the effective date of coverage or reinstatement, or the date of any increase in coverage, is not covered. In that event, Manulife will pay the beneficiary an amount equal to the premiums paid for this coverage.
Determining your eligibility
Eligibility for application is granted to a Canadian resident under 71 years of age, or up to 75 years of age if already insured under this plan, who is:
- A member of the engineering regulators that license the country’s 300,000 members of the profession (including members in training); also, an engineering student who is registered in an engineering program accredited by the Canadian Engineering Accreditation Board;
- A member of the Ontario Society of Professional Engineers or Genium360;
- A member of the Association of Professional Geoscientists of Ontario, Geoscientists Nova Scotia or the Ordre des géologues du Québec;
- A member of one of the participating provincial associations of professional technicians and technologists;
- A member of the Manitoba Association of Architects, the Architects’ Association of New Brunswick, the Nova Scotia Association of Architects or the Architects Association of Prince Edward Island;
- A full-time employee of Engineers Canada or one of the engineering regulators that license the country’s 300,000 members of the profession or one of the participating organizations or of Youth Science Canada; or
- A limited licensee or a provincial licensee.
You may apply for Term Life Insurance for your spouse if you are also applying for it or are already insured under this plan.
You must apply for and maintain at least one unit of the Insurance Continuation Benefit for yourself to apply for or maintain the Insurance Continuation Benefit for your spouse.
Term Life Insurance Rates
You and your spouse can apply for coverage amounts starting from $25,000 (1 unit) to $1,500,000 (60 units) per person.
Save even more with the following volume savings:
- 10% savings: Term Life premiums for coverage of $500,000 to $975,000 per person
- 15% savings: Term Life premiums for coverage of $1 million or more per person
Use the rate calculator to determine your rate or see the chart below.
| Age3 | ||||
|---|---|---|---|---|
| Regular Rates | ||||
| 18 to 30 | ||||
| 31 to 35 | ||||
| 36 to 40 | ||||
| 41 to 45 | ||||
| 46 to 50 | ||||
| 51 to 55 | ||||
| 56 to 60 | ||||
| 61 to 65 | ||||
| 66 to 70 | ||||
| 714 to 75 | ||||
| 76 to 80 | ||||
| 81 to 84 | ||||
| 85 | Term Life coverage ends | |||
1 Non-Smoker premiums apply to Members and Spouses who have not smoked cigarettes in the last 12 months. Once insured, you must notify Manulife of any change in your smoking status.
2 Age means age attained as of the policy anniversary date (April 1). Please note that premiums increase as you reach certain ages, as shown in the table of Term Life Insurance monthly premiums.
3 These ICB rates do not increase with age.
4 Starting at age 71, premiums shown are available to individuals currently insured who buy additional insurance or renew coverage.
You and your spouse can apply for coverage amounts starting from $25,000 (1 unit) to $1,500,000 (60 units) per person.
Save even more with the following volume savings:
- 10% savings Term Life premiums for coverage of $500,000 to $975,000 per person
- 15% savings Term Life premiums for coverage of $1 million or more per person
Use the rate calculator to determine your rate or see the chart below.
| Age3 | ||||
|---|---|---|---|---|
| 18 to 30 | ||||
| 31 to 35 | ||||
| 36 to 40 | ||||
| 41 to 45 | ||||
| 46 to 50 | ||||
| 51 to 55 | ||||
| 56 to 60 | ||||
| 61 to 65 | ||||
| 66 to 70 | ||||
| 714 to 75 | ||||
| 76 to 80 | ||||
| 81 to 84 | ||||
| 85 | Term Life coverage ends | |||
1 Non-Smoker premiums apply to Members and Spouses who have not smoked cigarettes in the last 12 months. Once insured, you must notify Manulife of any change in your smoking status.
2 Age means age attained as of the policy anniversary date (April 1). Please note that premiums increase as you reach certain ages, as shown in the table of Term Life Insurance monthly premiums.
3 These ICB rates do not increase with age.
4 Starting at age 71, premiums shown are available to individuals currently insured who buy additional insurance or renew coverage.
You and your spouse can also add the Insurance Continuation Benefit (ICB) to each unit of Term Life coverage to receive $2,500 per unit of premium-free permanent life insurance beginning at age 85.
For example, if you buy one unit of Term Life coverage ($25,000) and the equivalent one unit of ICB ($2,500), you will pay the corresponding premiums for both these coverages until age 85. On your 85th birthday, two things will happen:
- your Term Life coverage ends and you stop paying Term Life premiums, and
- your Insurance Continuation Benefit begins but you stop paying ICB premiums you will be covered for the one unit of ICB you bought premium-free for the rest of your life!
Note that while Term Life premiums increase as you move from one age bracket to the next, ICB premiums remain the same until age 85, at which point you stop paying premiums.
See the ICB rates that apply to you below:
| Age when you get covered | Your premium until age 853 |
|---|---|
| 18 to 30 | 0.10 |
| 31 to 35 | 0.16 |
| 36 to 40 | 0.24 |
| 41 to 45 | 0.36 |
| 46 to 50 | 0.56 |
| 51 to 55 | 0.89 |
| 56 to 60 | 1.44 |
| 61 to 65 | 2.41 |
| 66 to 70 | 4.33 |
| 714 to 75 | 8.50 |
| 76 to 80 | 0 |
| 81 to 84 | 0 |
| 85 | ICB begins |
*Premiums are subject to change without notice. Term Life premiums increase as you enter a new age bracket.
1 Non-Smoker premiums apply to Members and Spouses who have not smoked cigarettes in the last 12 months. Once insured, you must notify Manulife of any change in your smoking status.
2 Age means age attained as of the policy anniversary date (April 1). Please note that premiums increase as you reach certain ages, as shown in the table of Term Life Insurance monthly premiums.
3 These ICB rates do not increase with age.
4 Starting at age 71, premiums shown are available to individuals currently insured who buy additional insurance or renew coverage.
Optional Protection
Child Life & Accident coverage
If you have children, don’t let financial concerns get in the way of getting the best treatment for them in case of a serious accident.
To add this coverage to your certificate, please call our Licensed Insurance Advisors.
Two benefits included for children. Child Life & Accident combines Major Impairment accident coverage with Term Life insurance.
One premium covers all children. A single low monthly premium covers ALL your eligible dependent children, regardless of how many you have. Newborn children are automatically covered (no additional application needed) upon reaching the age of 15 days, at no additional cost.
Lump sum benefit amount per child. Each unit of coverage provides up to $100,000 of Major Impairment benefits plus $5,000 of Term Life insurance. With the maximum 5 units, that goes up to $500,000 and $25,000, respectively, for each covered child. The minimum benefit amounts payable are outlined below:
| Major Impairment covered losses | Amount payable per unit |
|---|---|
| Total and permanent Paralysis or Loss of Use of two limbs | $100,000 |
| Brain Damage | $50,000 |
| Total and permanent Loss of Sight or Hearing or Speech | $50,000 |
| Loss of one Hand and one Foot | $50,000 |
| Loss of one Hand or one Foot and Sight of one Eye | $50,000 |
| Loss of Use of both Hands or both Feet | $50,000 |
| Loss of Use of one Arm or one Leg | $37,500 |
| Loss of Use of one Hand or one Foot | $37,500 |
| Total and Permanent Loss of Sight in one eye | $37,500 |
| Loss of Thumb and Index Finger of the Same Hand | $25,000 |
| Total and Permanent Loss of Hearing in one ear | $25,000 |
| Loss of Four Fingers of One Hand | $12,500 |
| Loss of All Toes on One Foot | $6,250 |
| Term Life insurance benefit | Amount payable per unit |
|---|---|
| Death by any cause | $5,000 |
Determining your eligibility
Members and employees participating in Term Life or Major Accident Protection insurance plans are eligible to apply for Child Life & Accident Insurance for any of their children who are:
- unmarried
- dependent on the Member/Employee for support, and
- over 14 days but under 25 years of age. (Children over age 21 must be in full-time attendance at an accredited college or university.)
Major Impairment benefits are not payable if impairment results from war, whether declared or not, or any act of war or insurrection. Term Life benefit is not payable if death results from suicide.
| 1 unit | 2 units | 2 units | 4 units | 5 units | |
|---|---|---|---|---|---|
| Major Impairment | Up to $100,000 | Up to $200,000 | Up to $300,000 | Up to $400,000 | Up to $500,000 |
| Term Life | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
| Monthly premium | $1.17 | $2.34 | $3.51 | $4.68 | $5.85 |
* Subject to change without notice. This single low monthly premium covers ALL your eligible dependent children, regardless of how many you have.
Major Accident Protection
Provides the funds to help take your mind off the immediate costs of an accident – so you and your family can focus on recovery instead of bills.
Term Life Insurance FAQ
You can submit your applications for these benefits online. A separate application is required for each of the benefits you are applying for. For more information please contact our licensed Insurance Advisors at 1-877-598-2273.
No. Membership in a participating association is only required at time of initial application for an insurance product.
Under the Term Life Plan, if you die your insured spouse will be given the option to continue his or her coverage under the Plan.
Based on the current rate structure, premiums do increase with age every five years, specifically at ages 31, 36, 41, 46, 51 and so on.
If you cancel your Term Life insurance, you may within 31 days apply to convert your insurance to selected individual plans without an additional medical examination or extra health questions to answer at the time of application. You simply pay the rates for the individual plan that apply to your age at the time of conversion. Contact us for more information.
Take action
Contact us
For more information and to speak to a Licensed Insurance Advisor, call
1-877-598-2273
(Monday – Friday 8am – 8pm ET)
Or email am_info@manulife.com
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Your Guarantee of Satisfaction
Manulife wants you to know that you can shop for this coverage with complete confidence, because our first concern is to make sure you are satisfied with your purchase.
Once you receive your Policy or Certificate of Insurance for your Engineers Canada-sponsored coverage, please examine it carefully. If you are not satisfied, contact us in writing to cancel your coverage. We will refund your premiums paid for any new coverage that you cancel within 30 days of receiving your Certificate or Policy.