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Members'
Exclusive Rates
The following are the current monthly premiums for
coverage under the Institute's Members' Insurance Plans. To determine the
total monthly premium that applies to you, find the monthly premium per
unit for your age, gender, smoking status or coverage options (as
applicable), and multiply by the number of units of coverage you want. An
annual premium is 12 times the monthly premium.
Rates are subject to change without notice.
Member and Spouse
Term Life Insurance
Members can choose from
2 to 80 units of $25,000 of Term Life Insurance for themselves and for
their Spouses, for coverage of $50,000 to $2,000,000 per person. Coverage
ends at age 85.
Rate Reductions for
Volume Purchases: An individual whose Term Life coverage totals $250,000 to $725,000
will pay 10% less than the premiums shown here ...or 15% less for coverage
totaling $750,000 to $1,225,000 ...or 18% less for coverage totalling $1,250,000 to $2,000,000.
Preferred Rates: If you apply for $125,000 or
more of new or additional Term Life coverage, and are in exceptional
health, you may qualify for Preferred Rates of 5% to 25% less than the
usual rates. You don't have to apply for Preferred Rates. Manulife Financial's
underwriters will automatically assess your application and notify you if
you qualify.
Future Insurability
Option: An
individual under age 46, who chooses the Future Insurability Option when
applying, can increase his or her Term Life coverage as many as five times,
without further medical underwriting, for up to $250,000 more coverage in
total. Refer to the coverage
description
for more details.
See the rates that apply
to you below.
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Monthly Premium
Per $25,000 Unit of Term Life Insurance
• Reduce by 10% if coverage totals $250,000 or more
per person
• Reduce by 15% if coverage
totals $750,000 or more per person
• Reduce by 18% if coverage
totals $1,250,000 or more per person
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Age1
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Non-Smoker2
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Smoker
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Male
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Female
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Male
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Female
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18 to 29
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$1.10
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$0.70
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$2.75
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$1.50
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30 to 34
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$1.35
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$0.90
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$3.00
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$2.00
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35 to 39
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$1.60
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$1.15
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$3.75
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$2.80
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40 to 44
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$2.40
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$1.60
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$5.80
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$4.10
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45 to 49
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$4.00
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$2.50
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$9.40
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$5.90
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50 to 54
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$6.10
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$4.00
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$15.00
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$8.75
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55 to 59
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$9.90
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$6.75
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$23.00
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$13.15
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60 to 64
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$14.75
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$10.00
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$35.00
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$20.40
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65 to 69
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$18.75
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$12.50
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$58.50
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$32.50
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70 to 74
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$37.50
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$25.00
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$94.25
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$57.50
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75 to 79
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$92.25
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$65.00
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$158.50
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$95.00
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80 to 84
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$158.50
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$108.50
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$233.50
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$150.00
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85
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Coverage terminates
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Additional
Monthly Premium Per $25,000 Unit
of
Future Insurability Option (FIO)4
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Non-Smoker2
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Smoker
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Male
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Female
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Male
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Female
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$0.90
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$0.52
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$2.00
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$1.20
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Member Income
Protection Disability Insurance
Members only can choose
up to 100 units of $100 each of monthly benefits, for a maximum benefit of
$10,000 per month. Coverage ends at age 70 or on the date you retire; or
voluntarily cease to be actively engaged in the duties of your occupation
(except for short leaves of absence), whichever comes first. If you are
applying between the ages of 18 and 45, you can also increase your Income
Protection coverage, without further medical underwriting, to the maximum of
$10,000, for up to 10 years with the Future Insurability Option. Refer to
the coverage
description
to determine the maximum Income Protection benefit that applies to you, then see your rates below.
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Monthly Premium
Per $100 Unit of Income Protection
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Waiting Period3
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0 - 7 Days
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30 Days
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90 Days
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180 Days
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365 Days
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Male, Age:1
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Under 40
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$1.20
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$0.85
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$0.65
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$0.60
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$0.50
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40 to 49
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$1.95
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$1.50
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$1.25
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$1.15
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$1.00
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50 to 64
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$3.90
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$3.25
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$2.65
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$2.50
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$2.00
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65 to 69
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$5.00
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$3.75
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$3.00
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$2.75
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$2.50
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70
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COVERAGE ENDS
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Female, Age:1
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Under 40
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$1.45
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$1.00
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$0.85
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$0.75
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$0.65
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40 to 49
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$2.15
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$1.65
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$1.40
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$1.25
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$1.10
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50 to 64
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$3.50
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$2.90
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$2.35
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$2.25
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$1.75
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65 to 69
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$4.25
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$3.25
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$2.60
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$2.50
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$2.25
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70
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COVERAGE ENDS
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Additional
Monthly Premium Per $100 Unit
of
Future Insurability Option (FIO)4
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Male
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$0.82
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Female
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$1.63
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Member Office
Overhead Expense Insurance
Members only can choose
up to 100 units of $100 each of monthly benefits, for a maximum benefit of
$10,000 per month. Coverage ends at age 70 or at retirement, whichever
comes first. See the rates that apply to you below.
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Monthly Premium
Per $100 Unit of Office Overhead Expense Insurance
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Waiting Period3
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7 Days
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14 Days
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7 Days
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14 Days
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Maximum Benefit
Period
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6 Months
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6 Months
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12 Months
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12 Months
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Male, Age:1
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Under 40
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$0.75
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$0.65
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$0.90
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$0.80
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40 to 49
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$1.05
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$0.90
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$1.25
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$1.10
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50 to 64
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$2.20
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$1.85
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$2.65
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$2.25
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65 to 69
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$3.65
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$3.00
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$4.50
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$3.75
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70
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COVERAGE ENDS
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Female, Age:1
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Under 40
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$0.80
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$0.75
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$1.00
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$0.90
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40 to 49
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$1.15
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$1.00
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$1.35
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$1.20
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50 to 64
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$2.10
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$1.75
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$2.50
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$2.15
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65 to 69
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$3.25
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$2.75
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$4.00
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$3.35
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70
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COVERAGE ENDS
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Member And Spouse
Personal Accident Insurance
Members who are covered
by or applying for Member Term Life Insurance or Member Income Protection Disability
Insurance can choose up to 20 units of $25,000 each of Personal Accident
Insurance, for a maximum of $500,000. Members who have purchased or are
applying for Spouse Term Life Insurance can also choose up to 10 units of
$25,000 each of Personal Accident Insurance for their spouses, for a
maximum of $250,000. Refer to the coverage
description
to see how benefits are paid. Coverage ends at age 75. See the rates that
apply to you below.
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Monthly Premium
Per $25,000 Unit
of
Personal Accident Insurance
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Members and Spouses
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$0.88
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Child Life and
Accident Insurance
Members who are covered
by or applying for Member Term Life Insurance can choose up to 5 units of
Child Life and Accident Insurance. Each unit offers $50,000 of Major
Impairment benefit (for a maximum of $250,000) per insured child. For each
insured child age 15 days and over, each unit offers $10,000 of Life
Insurance (for a maximum of $50,000). Each insured child age 14 days and
under is covered for $5,000 of Life Insurance. One single monthly premium
covers all of your eligible children, regardless of how many children you
may have. Eligible children are unmarried, dependent on the Member for
support, and under 21 years of age (or under 25 years of age if in
full-time attendance at school or university). Refer to the coverage
description
to see how benefits are paid. See the rate that applies to you below.
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Monthly Premium
Per Unit of Child Life and Accident Insurance
$50,000
Major Impairment benefit per child
+ $10,000 Life Insurance per child 15 days or older
($5,000 Life Insurance TOTAL per child under 15 days)
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One monthly premium
covering all eligible
children:
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$2.50
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1 "Age" means age
attained as of the policy anniversary date (June 1). Please note that Term
Life premiums increase as you reach certain ages, as shown in the table of
Monthly Premiums for Term Life Insurance.
2 "Non-Smoker"
premiums apply to Members and Spouses who have not smoked cigarettes or
marijuana in the past 12 months and who meet Manulife
Financial's health standards. Once covered by
Term Life Insurance, you must notify Manulife
Financial of any change in your smoking status.
3 "Waiting Period"
means the period following the disability but before disability benefits
become payable.
4 All limitations and exclusions
that apply to existing Term Life and Income Protection coverage will also
apply to their respective FIOs.
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