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We have great news about Manulife Vitality to kick off your work week! Beginning today, Family Term with VitalityTM is now available on all Family Term coverage options (Term-10, Term-20, Term-65 and Term Life).
Now you can start all your term insurance conversations with Manulife Vitality and the exciting opportunities for your term clients to earn rewards and save on their premiums, all while improving their health!
Encourage your clients to live their healthiest life, and be rewarded. Now all your term clients can:
- Get Apple Watch from just $17*,
- Earn premium savings and,
- Benefit from other great rewards.
With Manulife Vitality, when you Do More, you Get More. Learn more.
* Members fund the balance by tracking activities to earn Vitality PointsTM. Initial payment does not include applicable taxes or upgrades which may include cellular models. Tax on initial payment is based on dollar value of Apple Watch.
In addition, there are more term insurance product enhancements that we’re excited to share with you:
Preferred risk Healthstyle® now maintained for 15 years when converting
A client with a preferred classification (Healthstyle 1 or Healthstyle 2) now has five additional years to convert to a permanent product and maintain their preferred Healthstyle.
For term coverages issued with a Healthstyle 1 or 2 that undergo certain policy changes (primarily term conversions):
- if the change happens within 15 years (formerly 10 years) of original underwriting, the Healthstyle 1 or 2 rating is maintained
| - if the change happens after 15 years of original underwriting, the coverage changes to a Healthstyle 3 rating
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This applies contractually to clients who purchase:
- Family Term with VitalityTM policy with an effective date on or after March 24, 2018
- Family or Business Term coverages or term insurance rider(s) with an effective date on or after March 24, 2018 (a contract endorsement will accompany the policy)
This applies non-contractually to clients who purchased:
- Family or Business Term coverages or Family Term with Vitality policies with an effective date between September 23, 2017 and March 23, 2018
- A term insurance rider(s) on permanent plans with an effective date on or between September 23, 2017 and March 23, 2018
Our Family Term with Vitality contract has been updated to reflect this change. Family and Business Term contracts and term insurance rider contract pages will be updated later.
Business Value Protector (BVP) rider now available on all Family Term and Family Term with Vitalitycoverage types
The Business Value Protector rider is a feature that allows business owners to purchase the additional coverage they need in the future as their business increases in value. Until now, if your client wanted both Manulife Vitality and the BVP rider they had to purchase two policies (a Business Term policy to have access to the BVP rider and a Family Term with Vitality policy to have access to the Manulife Vitality program) and pay two policy fees.
Now clients can choose to simply purchase Family Term with Vitality policy with a BVP rider so they have the best of both worlds together in one convenient policy with one policy fee.
Quotes and illustrations
Term-10 is now available on Rates to go so you can get a quick quote on the go!
All Family Term with Vitality coverages (Term-10, Term-20, Term-65 and Term Life) are available for illustration using Diamond View version 19.
Normal reissue or plan exchange request processes can be followed as required.
Resources
Understanding Family Term with Vitality
Selling and marketing Family Term with Vitality
Learn more about the Manulife Vitality program
Help your clients get Active Rewards on Apple Watch
