Term Life: Life Protection that will expire at the end of a set term (e.g. after 5, 10, 20 years) and which does not accumulate any value. It is a pure insurance product: simple and easy to understand.
Universal Life: A combination of life insurance and an investment component. A portion of your premiums go into your account, increasing your net worth. You can choose how the investment component is invested. niversal Life typically comes at a higher cost than a Term Policy.
Whole Life: One of the most complex life insurance products. Like Universal Life, a Whole Life policy also has both insurance and investment components. However, they typically offer less flexibility (e.g. the insurer decides how the investment component is invested). This product is also more expensive than Term Life insurance.
Critical Illness Insurance
Critical Insurance is a form of health insurance that provides a lump sum payment should you become ill. What are the types of illness covered by critical illness insurance ?
Although they differ from company to company, typical illness and disease covered by critical illness insurance may include:
Cancer, heart attack, stroke, blindness, Alzheimer's, multiple sclerosis, organ transplants, kidney failure, paralysis to mention some of them.
Coverage can not be purchased for a pre-existing condition or illness.
A disability - whether it’s sudden or because of a degenerative condition - can rob you of your ability to earn a living. Disability insurance is a type of coverage that gives you protection against the chance of losing income if you become disabled and you are not able to pay your expenses.
Why should you purchase disability insurance?
Most people recognize the need for life insurance, but many do not understand the need for disability insurance.
The fact is, when you are disabled because of an illness or injury, your income stops - but your bills don’t..
Enjoy your trip
Travel insurance is intended to cover medical expenses, trip cancellations, lost of luggage, flight accident and other losses incurred while traveling, either internationally or domestic.
Travel Insurance can usually be arranged at the time of the booking of a trip to cover exactly the duration of that trip, or a "multi-trip" policy can cover an estimated number of trips within a set time frame. Some policies offer lower and higher medical-expense options; the higher ones are chiefly for countries that have high medical costs.
Get help covering your unexpected emergency medical expenses and more wherever you travel with a travel insurance plan from Manulife Travel Insurance, Best Quote Travel Insurance or Travelance (to come).
(Personal and Groups)
Individual Health Insurance products help lower your risk of being burdened by expenses for preventive care or medical bills as a result of an illness or accident. While provincial plans health plans provide coverage for many health expenses,there are gaps that can have significant impact on your finances.
Group Insurance and Association Plan (click for quote) are insurance that cover a defined group of people, for example the members of a society or professional association; or the employees of a particular employer.
Note: I represent several insurance providers to offer you the best value, but for your convenience Manulife offers a link on my website to start your application.