Your Manulife Bank Select account can keep on working, even if you can’t
If you didn’t have an income, would you still have a home?
When you have payments to make, a serious injury or job loss could put quite a strain on your personal finances. Making sure you have adequate insurance to cover your borrowings is key.
Creditor insurance is a relatively easy and inexpensive way of protecting your financial stability and maintaining your family’s standard of living should an unexpected death, disability or job loss occur.
Manulife Bank Select Creditor Insurance:
- Provides life insurance protection with the option to add disability and job–loss coverage.
- May be applied for by all new and existing Manulife Bank Select clients who are Canadian Residents.
- Covers mortgage balances up to $500,000.
- Has a simple application process for mortgages up to $250,000 that consists of as few as three medical questions (in some cases, additional details may be required). Mortgage amounts in excess of $250,000 will require more detailed underwriting.
- Is available for joint account holders.
- Features automatic premium payments from your Manulife Bank Select account (if you choose) and automatic claim payments to your account.
- Allows you 30 days to cancel the insurance and receive a refund of your premium after you are accepted by the insurance company, if the policy does not completely meet your needs.
There are a number of other important elements of creditor insurance that you need to be aware of, including when coverage takes effect, when benefits would be terminated, our privacy and confidentiality commitment and our policy regarding the exchange of information. Please see the product brochure for further details.
Life, disability and job-loss protection
Learn the details of the life, disability and job-loss coverage, including what the benefits are, what your premiums could be and what exclusions you need to be aware of:
A little planning today can go a long way toward giving you confidence tomorrow.
Here to help you
Speak to your Banking Consultant or financial advisor about Manulife Bank Select Creditor Insurance today. For more information, you may also call Manulife Financial at 1-866-388-7095.
This web page is designed to outline the benefits for which you may be eligible and does not create or confer any contractual or other rights. All rights with respect to the benefits of a member will be governed solely by the Group Master Policy issued by The Manufacturers Life Insurance Company. Job–loss insurance is underwritten by First North American Insurance Company, a wholly owned subsidiary of The Manufacturers Life Insurance Company.
Manulife Bank Select Creditor Insurance is administered and underwritten by The Manufacturers Life Insurance Company (life and disability insurance) and First North American Insurance Company (job loss).