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Manufacturers Life Insurance Company Reviews

Manulife Life Insurance Reviews  (aka Manufacturers Life Insurance Company):  

We've Got All The Info You Need to Make the Right Choice!

If you are looking through Manulife insurance reviews, well then you’re in the right place!  The name Manufacturers Life Insurance Company may not be familiar but I am SURE that Manulife Life Insurance is…

…they are one and the same.

Manulife is one of the most respected and well-known names in the Canadian insurance industry.

Sure they’ve got an awesome marketing department and a long history, but does that mean they are the right insurer for your needs?

If you read my reviews you know that not all life insurance companies are created equal.

So let’s take a look at Manulife Life Insurance to see how they compare RIGHT now!

Why I Write These Reviews! 

My name is James Heidebrecht and I am the founder of Policy Architects. We are a small boutique life insurance agency that helps people throughout Canada find the RIGHT coverage for their needs.

As much as people want you to believe that life insurance is a simple product – it’s not.

Sure you can educate yourself on the basics – what type of life insurance you need, the amount of coverage that will adequately protect you and the period of time when you need it most…

…but there is a lot more you need to know to get a policy that is comprehensive and cost-effective.

Yep! This is where an independent life insurance agent is invaluable. We go through your current finances, .future plans, review products and check out different companies that specialize in specific areas.

Did you know that life insurance companies have niches? Yes indeed! Which means some are more lenient than others when it comes to specific medical conditions.

It’s bleak. It’s really, really bleak. Honestly, buying life insurance is very much like getting a pap smear or picking up your dog’s excrement: it’s a really unpleasant experience, but all responsible adults just grit their teeth and get it done. The dawn of parenthood is what pushed me to purchase insurance, but it’s also what made it feel so morbid.

Having a baby forced me to confront my mortality, but spending $6.50 a month on life insurance means I don’t lose sleep over it, Business Insider 

While I don’t think life insurance planning should be this painful! I completely agree with her sentiments. 

So Why Does Picking the Right Insurer Matter?

Applying to the RIGHT company for your unique circumstances could save you THOUSANDS over the course of your term.

BUT to do this you need to know a LOT about underwriting processes.

At Policy Architects we do all of this for you.

The best news is our advice is free – we get paid by the life insurance company when you sign on the dotted line.

So there’s nothing to lose – except your money if you buy life insurance based on name recognition alone.

Ok, that said, let’s get on with the show!

Manulife Life Insurance Questions

Come on! We all know that you guys exaggerate this stuff. Most life insurance companies offer the same products...

Manulife Life Insurance Answers

Nope - this is not true. I have helped people save a bomb by making sure they select the right company for their needs. 

Manulife Life Insurance Reviews

The History of Manulife Life Insurance

(Manufacturers Life Insurance Company) 

Manulife Life Insurance Questions

Ok! I am ready to dig in. I've been googling Manulife insurance reviews and have no idea where to start! 

Manulife Life Insurance Answers

Glad you asked. I like to take a look at the roots of any company I recommend to my clients. Why? Their history reveals a lot about the way they operate. 

You can’t get started on manulife insurance reviews without a little background!

Well as you can probably guess Manulife Life Insurance started out as the Manufacturers Life Insurance Company. It was created by an act of parliament in 1887!

The idea was introduced by JB Carlile, an agent for the North American Life Assurance Company and his experience laid the framework for Manufacturers Life Insurance Company.

As with many life insurance companies Manufacturers Life Insurance Company wanted to expand its interests internationally. Policies were quickly sold in Bermuda, Grenada, Jamaica, Barbados, Trinidad, Tobago, Haiti, British Honduras, British Guiana, China, British Hong Kong.

By 1931 this precocious company opened its first branch in southern China and has continued to expand over the years into Cambodia, Japan, the US, Singapore, Myanmar and Indonesia.

Manulife is one of the oldest and is THE largest insurer in Canada. They truly are a force to be contended with.

By the way, Manulife Financial Corporation is the arm that handles life insurance products for the Canadian public.

Manulife Life Insurance Reviews

Manulife Financial Corporation: Financial Rating

Manufacturers Life Insurance Company Question

Wow sounds like Manulife Insurance Company is a real winner!  

Manufacturers Life Insurance Company Answers

Yes it is - but that's not all! We should check out their financial ratings...These are the grades given to them by rating agencies to help customers make the right choices. 

I am going to start this section off with a little bit of explanation. Life Insurance is one of the biggest purchases people make in their lifetime. Outside of a house, car or health insurance – life insurance is a decision you should think about before you pull the trigger.

This is why it’s a highly regulated industry. The government wants to make sure that consumers don’t get taken advantage of.  The financial rating industry was created as a result of this regulation.

Companies like Standard & Poors and AM Best assess the financial dealings of life insurance companies and grade their performance so consumers make educated choices with less time investment.

So how does Manulife Financial Corporation fare?

VERY well. I wouldn’t expect less.

AM Best & Fitch give them an A- and Standard & Poors gives them an A! Booyah!

Manulife Life Insurance Reviews

Online Manulife Insurance Reviews 

Life insurance reviews online – hmmm – this is a complicated topic for me. While I love the transparency of the internet…

…it’s not as straightforward as I would like.

To put it into simple terms people love to bash life insurance companies. There are a few reasons for this like:

  • Stress: People making claims are under a LOT of stress. This makes them less patient. Hiccups and snafus are not tolerated when people are in a tough spot.
  • Bad Information: Not all life insurance agents are great. There I said it. While most of us are very professional,  sadly there are a few bad apples that just want to push a sale through. Some agents give clients bad advice and this trickles down to the companies.
  • Poor Customer Service: Good help is hard to find. Many life insurance companies struggle with consistent customer service.
  • Denied Claims: While rare this does happen on occasion. There are two reasons for this. 1. People provide false information to get cheaper rates. This is fraud and you WILL be caught. 2. Ommission – this is why you need a good agent. Always be completely transparent and if you are in doubt about offering info always put it forward.

So let’s see how Manulife insurance is seen online:

Manufacturers Life Insurance Company: Google 

Manulife Life Insurance Google Review

Well, there are no Google reviews for Manulife Financial Corporation. Yet another large company that gets around the internet fray.

Frankly, I think this is a smart move, especially for a company this size. Chances are there are a number of disgruntled customers out there because of the sheer number of policies that are written. 

The thing is, you can’t completely get around public opinion so let’s take a closer look to see if we can find more customer thoughts.

Manufacturers Life Insurance Company: Insureye 

Manulife Life Insurance Insureye Review

As I suspected. The reviews are less than stellar. This seems inevitable for a company of this size and stature.

BUT where there’s smoke there may be fire. So let’s take a closer look at WHY people are unhappy. After all, 1.6 stars out of 5 is not a fantastic score.

AHA! This is a terrific example of unfair reviews. First of all most of the reviews are concerning group benefits (dental and medical), disability claims and customer service. Quite honestly almost none of them are concerning LIFE INSURANCE.

In fact, there are a couple of reviews that appear to be the same person writing multiple times. Ahhh the joy of the internet.

From my perspective you can give these reviews a pass if you are looking to buy life insurance from Manulife.

Manufacturers Life Insurance Company Question

That's a shame. I guess companies are REALLY vulnerable when it comes to online reviews. 

Manufacturers Life Insurance Company Answers

They are indeed. Don't get me wrong I am sure some of the criticism is justified BUT you have to balance things when you are doing your research!  

Manulife Life Insurance Reviews

Manulife Life Insurance Reviews

The Products

This is my favourite part of any review. I truly enjoy going through all the life insurance products available in Canada. There are so may terrific plans – which means there is something for everyone. 

Let’s take a closer look at what this behemoth has to offer: 

Term Life Insurance 

Term life insurance is the most affordable and flexible coverage available and it works for most people most of the time.  For most clients, income protection during periods of vulnerability is what they are looking for. Term insurance offers this.

In a nutshell you:

  • Select a coverage value (ie $100K, $250K, $500K etc)
  • Select a term (period of time you need coverage ie 10, 20 or 30 years)
  • Answer some questions about your family, lifestyle and medical history
  • Get a physical exam
  • Get rated (your rating determines how much you pay for coverage)
  • Receive an offer, postponement or decline

…and that’s it! You are covered as long as you pay your premiums.

Manulife Life Insurance offers a number of options. Check ’em out!

Manulife CoverMe Term Insurance

CoverMe Term Insurance

  • Coverage from $100K – $1Million
  • Available for people 18 – 70 years of age
  • $250K of instant coverage with no medical exam (simply answer a few questions) from 18 – 55 years of age
  • Rates guaranteed not to increase for 10 years – renewable age based rates every 10 years up to 85 years of age without a medical exam.
  • 30 day money back guarantee
  • Convertible to permanent life insurance before age 70 with no medical exam
  • One time cash advance for people less than 83 years of age whose policy has been in force more than 2 years. Receive up to 50% of your benefits up to $100K if you’re diagnosed with a terminal illness and have less than 12 months to live.
Manulife Family term Insurance

Manulife Family Term Life Insurance

  • Coverage from $100K – $20Million
  • Level premiums for 10 or 20 years to age 65 or for life
  • Bereavement counseling costs up to $1K
  • Cash advance if you are diagnosed with a terminal illness


  • Injury & accidental death coverage
  • Diability premium holiday
  • Guaranteed future insurability for you or your children
Manulife Business Term Life Insurance

Manulife Business Term Life Insurance 

  • Coverage amounts: $100K – $20Million
  • Level premiums for 10 or 20 years to age 65 or life
  • Cover bereavement costs up to $1K
  • Cash advance for diagnosed terminal illness
  • Discounts for protecting 2 or more people in one policy
  • Boost your insurance coverage without further evidence of insurability or business valuations


  • Premium holiday for disability
  • Guaranteed future eligibility
Manulife Vitality Life Insurance

Manulife Vitality 

  • Coverage $500K – $20Million 
  • 10 or 20 year terms renewable to age 80 or to age 65 or 100
  • Earn rewards (Amazon & Vitality Points) and save on payments while improving your health. The more you engage with the program the bigger your savings. 


  • Accodental death or injury coverage 
  • Premium holiday for disability 
  • Guranteed insurability for yourself or children 

Simplified Issue Term Insurance 

Manulife CoverMe Easy Issue

CoverMe Easy Issue 

  • Coverage: $50k or $75K
  • Available for ages 18 – 70  – coverage up to age 85
  • No medical exam required 
  • 10 Year renewable term
  • No waiting period
  • Pay 50% less if you are a non-smoker
  • 30 day money back guarantee
  • One time cash advance for clients who are less than 83 years old and have been covered for more than 2 years. Receieve up to 50% of you coverage if diagnosed with a terminal illness with less than 12 months to live.
Manulife Quick Issue Term

Manulife Quick Issue Term 

  • No paperwork or medical exam (complete the paperwork with advisor over the phone)
  • In most cases coverage in one business day
  • Coverage: $100K – $500K
  • Ages 18 – 50
  • 10 or 20 year terms or to age 65
  • Bereavement counseling costs up to $1K
  • Cash advance for terminal illness


  • Guaranteed insurability for your children
Manulife Synergy Insurance

Manulife Synergy Insurance 

This is 3 in one coverage: Life insurance, disability & critical illness.

  • Coverage: $100K  – $500K
  • Insurance is convertible to permanent coverage until age 65


  • Add term life insurance 10 year renewable or term to age 65
  • Protect children to age 25 (life and critical illness)

Optional add-ons:

  • Add term life insurance: 10-year renewable or term to age 65
  • Help protect children up to age 25 with life and critical illness insurance
Manulife Vitality Life Insurance

Manulife Alumni Term Insurance

This is association coverage available to alumni from various Canadian universities and colleges (personally, I wouldn’t touch this protection with a ten-foot pole).

  • Coverage $35k – 770k
  • 5 year terms renewable to age 65
  • Premiums increase every 5 years
  • Premiums are NOT guaranteed
  • Coverage stops at age 65
  • No conversion option
  • to be eligible, you must be an alumni member of a Canadian University or College or the spouse of an insured alumni member
  • No Medical Exam required if you’re age 55 or under


  • Child Life & Accident Insurance
  • Major accident protection

Manulife Permanent Insurance

One of the reasons you may be looking at Manulife insurance reviews is because you want coverage until the day you die.

If that’s the case permanent life insurance is the product for you.

There is a catch, however. It’s far more expensive than term coverage because there is a guaranteed payout to your beneficiary as long as you keep up with your payments. It also has a cash value component that can be implemented in different ways.

For example, there are policies that involve investments managed by you or your life insurance company.

There are MANY different kinds of products and I highly suggest speaking to an independent life insurance agent about your needs before you sign on the dotted line.

Manulife Par Whole Life Insurance

Manulife Par Whole Life Insurance 

  • Coverage starts at $100K 
  • No policy fess which is a nice perk 
  • Payments over 10 or 20 years 
  • Single life or joint last to die options available 
  • Earn an annual dividend 
  • Access to cash value at any time or if you become disabled 
  • Make extra payments for more coverage or to pay it faster 


  • Add term 
  • Payment holiday for a disability 
  • Guaranteed future insurability for yourself of children 
Manulife Performax Gold

Performax Gold 

  • Coverage starting at $25K 
  • Make payments to age 100 or in 15 years 
  • Build cash value fast by making additional payments 


  • Add term 
  • Payment holiday for a disability 
  • Gurantee future insurability for yourself or your children 

Manulife Universal Life Insurance

Universal Life Insurance is a really awesome product. It combines the affordability and flexibility of term with permanent insurance. If you want to find out more information about Universal Life Insurance click here. 

It is a permanent product and as such your beneficiary gets a payout as long as you keep up with the payments. 

Manulife has a few different options:  

Manulife Innovision Universal Life Insurance

InnoVision Universal Life Insurance 

  • Coverage starts at $100K
  • Choose from over 50 investment accounts
  • Choose your reward: loyalty bonus or lower management fees
  • Guaranteed minimum interest investment account


  • Invest with tax advantages
  • Add term life insurance
  • Accidental death coverage
  • Inflation protection
  • Premium holiday for disability
  • Future insurability guarantee for yourself, as a business owner and/or for your children
Manulife Security Universal Life Insurance

Security Universal Life Insurance 

  • Coverage starts at $50K
  • Choose guaranteed interest rates or link your policy to the market


  • Add term life insurance
  • Premium holiday during a disability
  • Guranteed future insurability for yourself, yourself as a business owner and/or your children
Manulife UL

Manulife UL 

  • Coverage starts at $50k or $100K depending on the policy you select 
  • Choose from a variety of investment accounts or link it to Performax Gold Investment Fund 
  • Low management fees 
  • If you select a managed fund – guaranteed rate enhancement 
  • Guaranteed premium for a shorter guaranteed period of time 

CoverMe Guaranteed Issue Life Insurance

If you feel you may be uninsurable because of a medical condition, fear not! There is always coverage for you. 

Guaranteed Issue allows anyone to buy life insurance. It’s a wonderful tool but remember there is always a catch. Most guaranteed issue has a 2 year waiting period. 

This is to protect companies from people buying life insurance and dying quickly thereafter. Insurers would simply go out of business.

Another caveat. This protection is a LOT more expensive. So if you can get traditional coverage I suggest you do so, because it’s likely you’ll pay a lot less.

Let’s look at Manulife’s offering:

CoverMe Guaranteed Issue

CoverMe Guaranteed Issue 

  • Coverage from $5K – $25K 
  • Ages 40 – 75 
  • No medical exam or health questions
manulife life insurance company questions

It looks like Manulife Life Insurance Company has a very good selection of products. 

manulife life insurance company answers

YES! Manulife is a terrific company and they have a wonderful selection of life insurance products. Another reason to like them. 

Manulife Life Insurance Reviews

Manulife Insurance Reviews

Application Process

Each and every life insurance company has a different approach to its website and application process. Some are moving quickly into technology while others are opting for simplicity.

Manulife Life Insurance has a great website. It’s easy to navigate and information is readily available.

CoverMe Life Insurance 

This site is just awesome. It’s super clean. To get a quote you have to provide the following information:

  • First & Last Name 
  • Date of Birth 
  • Sex 
  • Phone Number (Optional) 
  • Smoking Status 
  • Email 
  • Coverage Amount 

I gave them a fake email address and received my quote on the screen. A 50 year old non smoking woman looking for $500K of coverage pays $78.00 per month. But remember this premium is only guaranteed for 10 years. 

Then you’re given the option to apply for the coverage online. They request your personal, financial, health and payment information.  

Buying life insurance online is a little bit of an exaggeration. You have to speak to an agent to finalize this process and you may not qualify for the coverage you are looking for. 

But all in all, I really like Manulife’s application process.

Family Term Life Insurance 

There is no online application process for this. You have to contact an agent. 

Business Term Life Insurance 

There is no online application process for this. You have to contact an agent. 

Manulife Vitality 

There is no online application process for this. You have to contact an agent. 

Manulife Permanent Life Insurance Products 

You have to go through a manulife advisor for all the Manulife Permanent products. 

CoverMe Guaranteed Issue Life Insurance 

You can apply for Manulife’s Guaranteed Issue coverage online. To get a quote you have to provide the following information:

  • First & Last Name
  • Date of Birth
  • Sex
  • Phone Number (Optional)
  • Smoking Status
  • Email
  • Coverage Amount

It’s the same information you provide for CoverMe term. Afte entering the information and a fake email address I receive a quote. A 50 year old nonsmoking woman gets $25K of coverage for $59.95 per month.

There is a two-year waiting period so if you die of a nonaccidental cause (excluding suicide) before this period has passed, your estate receives the premiums plus 10% interest compounded annually.

You can apply online. It’s similiar to the CoverMe term process without the medical questions.


Manulife Life Insurance Reviews

Manulife Insurance Reviews 


Now, this is what you’re looking for right?

The rates…

…sure I get it everyone wants to see where they stand in connection with the cost of life insurance – but buyer beware.

Online rates are simply an estimate. No one can tell you with 100% certainty how much you’ll pay unless you buy guaranteed issue protection.

For the purposes of this section, I am using men and women throughout the decades. The quotes below are for non-smokers in average health (a standard rating).

On this site I choose to be real and use a standard rate as that’s what most people get. It’s better than luring you in with super low quotes you may not qualify for.

That said, if you are in terrific shape you may qualify for a better rating which means you will pay less! This is the reason you need to contact an independent agent TODAY!

Policy Architects
35 Year Old Male$21.61$35.46
35 Year Old Female$18.52$26.77
40 Year Old Male$30.08$50.08
40 Year Old Female$24.03$37.78
45 Year Old Male$46.80$79.83 
45 Year Old Female$35.19$57.87
50 Year Old Male$73.94$134.21
50 Year Old Female$55.59$93.02
55 Year Old Male$128.30$244.96
55 Year Old Female$91.27$168.80
60 Year Old Male$227.60$433.60
60 Year Old Female$160.53$312.05  
65 Year Old MaleNA NA 
65 Year Old FemaleNANA

*Quotes above are for The Manufacturers Life Insurance Company Family Term-20, monthly, Standard Health Class, non-smoker. Your rates may differ depending on your unique circumstances. December 2019.

Manulife Life Insurance Reviews

Manulife Life Insurance Pros

The Manulife Life Insurance Company is a terrific company. There are a lot of good things to say about it. It is the biggest and one of the oldest insurers in Canada so this should come as no surprise.

The Manulife Insurance Company Pros

Long Illustrious History 

Manulife Life Insurance Company has weathered a depression, World Wars, and Recessions – all the while expanding internationally.

They obviously have a keen sense for business. 

The Manulife Insurance Company Pros

Great Financial Rating 

The financial rating groups obviously think a lot of Manulife Life Insurance. Standard & Poors gives them an A and AM Best an A-!

Your life insurance investment is safe with them.

The Manulife Insurance Company Pros

Good Life Insurance Selection 

Manulife Life Insurance offers what you need not matter what your needs. Looking for Guaranteed Issue because of medical issues, Term, or Permanent with various investment options? They’ve got you covered.

The Manulife Insurance Company Pros

Awesome Website User Experience & Access to Information 

It’s clear Manulife has spent some serious time and money on their website. Information is easily accessible without having to speak with a tied agent…

…and you can even start the application process online.

I like it!

The Manulife Insurance Company Pros

Competitive Rates 

Manulife rates are very competitive. They are definitely one of the best life insurance companies in Canada.

Don’t get me wrong though, you should still contact an independent life insurance agent to make sure they are a good fit for you.

Manulife Life Insurance Reviews

Manulife Life Insurance Cons

Manulife Life Insurance Cons

Jack of All Trades 

This is not a passionate con – and to be honest it could be a pro depending on how you see life.

Manulife has a LOT going on. They offer all kinds of products such as banking, investments, wealth management, group benefits, and insurance.

With this sort of diversification do things slip through the cracks? For me, I like highly specialized life insurance companies because they are single focus.

Others may not agree and even like the one-stop shop approach.

Manulife Life Insurance Cons

Online Reviews 

Again another luke warm con. Sure their online reviews are pretty dismal – but most of the complaints are NOT about life insurance claims. 

So to be perfectly honest I don’t give them a lot of credence. 

Manulife Life Insurance Cons

Premiums are Renewable Every 10 or 20 Years 

Sure the premiums look great but remember if you are in your 30’s and need coverage past 20 years your premiums will renew at age related rates. 

This means a price hike for you. 

I prefer knowing what to expect over the years. 

Do you have enough life insurance coverage…


And you wouldn’t be alone in that mindset. According to a recent study by New York Life, millennials are exposed to financial risk because they don’t carry enough life insurance. The survey revealed that millennials have, on average, $100,000 in life insurance coverage. But this group also estimated they’d need $452,000 to get by if a household breadwinner passed on. That’s a coverage shortfall of $352,000 — which is 60% greater than the coverage gap for the general population.

The Millennial’s Quick Guide to Life Insurance, The Motley Fool 

Manulife Life Insurance Reviews

Why You Should Call Policy Architects TODAY 

If you are looking through Manulife Life Insurance Reviews – then you are SPOT ON! Seriously I commend you for doing your homework.

I meet so many people who start this process blind. Thankfully they are in touch with an independent life insurance agent…

….because if they fell into the trap of speaking to a tied agent first it could cost them THOUSANDS.  While Manufacturers Life Insurance Company may be a good fit for you, there may be a better fit!

We’d love to speak with you to find you the most comprehensive policy at rock bottom prices. Working with the best life insurance companies in Canada, we don’t want you to spend a penny more than you need to. Click on the “button” below for a free, no obligation quote!

James Heidebrecht Manulife Life Insurance

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