Guaranteed Issue Life Insurance for CARP Members
CARP members: We’ve made it easy and affordable for you to help protect your loved ones’ financial future, whether it’s for your grandchild’s education, to pay for your spouse’s retirement, or perhaps to relieve the financial burden of your final expenses.
- Protection To Suit Your Needs And Budget: For coverage from $2,500 to $25,000, premiums start as low as $5.46 monthly* and are guaranteed not to increase once coverage is approved.
- Apply Today: Premiums are based on your sex, smoking status and age at the time of application. The sooner you apply, the lower your rates will be!
- If you’re between age 50 and 80, your acceptance is guaranteed** with no medical questionnaire required at the time of application.
- Accidental death before age 85 pays five times the policy amount, up to $125,000.
- A living benefit helps you cope with terminal illness. Click “Brochure with Rates” for complete details.
For those who may find it difficult to obtain coverage, Guaranteed Issue Life Insurance for CARP Members can be perfect for you.
Make an Informed Decision
As CARP’s recommended insurance provider, we have a responsibility to help you make an informed buying decision. No matter which insurance product you require, or provider you choose, our best advice is to educate yourself before you buy. That’s why we offer information that will help you review programs “apples-to-apples”.
Guaranteed Issue Life Insurance
Make sure you have proper – and enough – coverage
To determine of you should obtain life insurance coverage, ask yourself:
- With your contribution to the yearly budget, how would your family get by if you died?
- Would you like to put money aside for a child’s education?
- Would your final expenses or outstanding debts be a burden for your family?
- Could life insurance help with business succession plans or be used for a donation to charity?
OK, you’ve established the need. Now it’s time to shop. Regardless of the plan you choose, rates are based on coverage selected, gender, smoking status and age at the time of application. Note some plans have age restrictions.
BEFORE YOU BUY - Which plan type is right for you?
- (1) PERMANENT: while not ideal for short term needs, universal life and whole life plans hold cash values, offer premium stability and protection for life.
- (2) TERM: typically offers the most coverage for the money due to a lack of cash value. Term life has set rates for length of the term – i.e. five or 10 years, or to age 100, and is ideal for short term needs and renewable. Be aware though that premiums will increase upon renewal.
- (3) GUARANTEED ISSUE: while available coverage may be less than other plans, acceptance is guaranteed – subject to receipt of first premium – with no health exam or questions at time of application.
- (4) ABOUT TO LOSE YOUR GROUP PLAN: If a new policy is too costly, there are plans that’ll help you retain coverage when your employer-sponsored plan is about to end.
GREAT RESOURCE: To help you decide how much coverage you may need, the Canadian Life and Health Insurance Association has published a comprehensive guide to life insurance, which includes a simplified financial needs analysis worksheet. Read the Canadian Life and Health Insurance Association’s “Guide to Life Insurance” online at: www.clhia.ca
A FINAL WORD: The McLennan Group urges you to be certain the program selected is right for your needs. Always read the fine print and ask questions before you buy, because insurance without proper coverage is like having no insurance at all. Remember, your protection is our priority.
Attention Residents of Quebec:
To learn coverage options, plan details, or to make your purchase, please call toll-free: 1.800.396.4389
Insurance policies underwritten by The Manufacturers Life Insurance Company
**Acceptance is guaranteed if eligibility criteria are met, and is subject to receipt of first premium payment. †Membership / subscription offer only available where permitted by law. Membership / subscription offer limited to a single free one-year membership / subscription per CARP member, and will be activated when you renew your CARP membership.
The Guaranteed Issue Life Insurance Plan for CARP Members is underwritten by The Manufacturers Life Insurance Company (Manulife), P.O. Box 670, Stn Waterloo, Waterloo, ON N2J 4B8. Manulife and the Block Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under licence. *Based on a female non-smoker, 50 years of age. Product may not be available in all provinces. Terms, conditions and exclusions apply; see policy for details. Life and Health Plans offered by The McLennan Group Life Insurance Inc. Auto & Home Program offered by The McLennan Group Insurance Inc.