insurance

Manulife has launched a quick-issue insurance product.

The product, called Manulife Quick Issue Term, is for those looking for term insurance protection that doesn’t require medical testing.

“Clients still work with their advisor[s],” says David Baker, assistant vice-president of Insurance Products and Retail Markets at Manulife. “But we’ve drastically reduced the turnaround time by automating the application and underwriting processes.”

Key features

  • Coverage amounts range from $100,000 to $500,000, for those between the ages of 18 and 50
  • Buyers can choose 10- or 20-year coverage options, or coverage up to age 65
  • There are guaranteed premiums, coverage amounts and renewals
  • The product can be converted to a permanent insurance product
  • Buyers who don’t qualify for Manulife Quick Issue Term are allowed to easily apply for other Manulife term products

Originally published on Advisor.ca

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