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Term Life

Introduction

In the journey of life, protecting your loved ones and your home is paramount. Manulife eDecreasingTerm, also known as ManuProtect Decreasing (II) / ManuProtect Decreasing Lite (II), is a thoughtfully designed term life insurance plan that offers decreasing coverage to align with your mortgage repayment plans. This innovative product allows you to choose your interest rate and policy term, ensuring you're covered for what you truly need. In the event of death or terminal illness, the plan can pay off your mortgage, providing crucial protection for your family when it matters most.

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Coverage and Benefits

Manulife eDecreasingTerm offers a comprehensive package of benefits tailored to protect you and your loved ones. From death benefits to terminal illness coverage, this plan provides essential financial security for your family's future.

Death Benefit

Full Coverage Protection: The plan provides a lump sum payout upon death, which decreases over time to match your mortgage balance. This ensures your loved ones can settle the outstanding mortgage without financial strain.

Terminal Illness Benefit

Advanced Payout: If diagnosed with a terminal illness, the plan offers an early payout of the death benefit. This can help manage medical expenses or fulfill last wishes.

Optional Add-Ons

Enhanced Protection: You can opt for additional riders to cover total and permanent disability and critical illness, providing a more comprehensive safety net for unforeseen circumstances.

Policy Terms and Features

Manulife eDecreasingTerm offers flexible policy terms and features to suit your specific needs and mortgage repayment plans. Understanding these options can help you tailor the policy to your unique situation.

Flexible Policy Terms

Customizable Duration: Choose a policy term that best matches your mortgage repayment timeline, ensuring you're covered for the duration you need.

Interest Rate Options

Tailored Coverage: Select from interest rates of 1%, 2%, 3%, 4%, or 5% to ensure your coverage adequately aligns with your mortgage loan terms.

Guaranteed Premiums

Financial Stability: Enjoy fixed and level premiums on the basic plan throughout your entire policy term, allowing for easier financial planning.

Easy Application

Hassle-Free Process: ManuProtect Decreasing Lite (II) is available for applicants aged 50 and below with no health check-ups required, simplifying the application process.

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Riders

Manulife eDecreasingTerm offers optional riders to enhance your coverage and provide additional protection for specific scenarios. These riders can be added to your basic plan to create a more comprehensive insurance package.

Total and Permanent Disability Rider

Extended Protection: This rider provides coverage in case of total and permanent disability, offering financial support when you're unable to work.

Critical Illness Rider

Health Safeguard: Add protection against critical illnesses, ensuring financial support during treatment and recovery periods.

Claims and Customer Service

While we are not Manulife, we understand the importance of efficient claims processing and responsive customer service. Manulife policyholders can typically file claims through various channels, including online portals, mobile apps, or by contacting their customer service hotline. For specific inquiries or assistance with Manulife eDecreasingTerm, customers are advised to reach out directly to Manulife's dedicated support team. They can provide detailed guidance on claim procedures, required documentation, and processing timelines. Remember, prompt communication with the insurer is key when filing a claim or seeking support.

Conclusion

Manulife eDecreasingTerm is an excellent choice for homeowners with mortgages, offering tailored protection that aligns with your loan repayment schedule. It's particularly suitable for young families looking to secure their home and protect their loved ones, as well as individuals seeking affordable, long-term coverage that decreases over time. The plan's flexibility in terms of interest rates and policy duration makes it adaptable to various financial situations.
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