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.”
- 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