Manulife Critical Illness Insurance Review – Updated 2024


Manulife has the most flexible and comprehensive critical illness insurance policies on the market. With large coverage amounts of up to $2 million, 25 full payout illnesses, plus 6 partial payout conditions, and many coverage terms available, they are the ones to beat. These products can be converted to permanent life insurance products for long-term coverage.


Manulife Critical Illness Insurance rating and review

The Big Mac, Coke, and fries of critical illness insurance – Manulife’s LifeCheque is the combo to beat. With a good mix of coverage and term lengths backed by one of the most trusted names in insurance, no wonder Manulife is synonymous with financial protection.

PolicyAdvisor Rating

Best Critical Illness Insurance Combo Product

AM Best Rating A+


Pros and cons


  • Large coverage amounts available (up to $2 million)
  • Multiple coverage terms available (including permanent coverage)
  • Comprehensive coverage (25 full payout illnesses)
  • Generous partial benefit payouts
  • Return of premium and limited pay options available
  • Payment for temporary loss of independent existence
  • Children’s LifeCheque rider available
  • Online access
  • Digital e-policy


  • Return of premium options are expensive
  • Only offer monthly payments for loss of independent existence
  • No second event coverage available
Schedule a virtual video call with an advisor

Need insurance answers now?

Call 1-888-601-9980 to speak to our licensed advisors right away, or book some time with them below.

Who is Manulife?

Manulife Financial Corporation – but colloquially known and branded as Manulife –  is Canada’s largest insurance company and holds over a trillion dollars in assets. It was founded by Canada’s first prime minister in 1887; today they are the first Canadian insurer to offer life insurance to HIV-positive customers (source: CBC), strive for gender balance in management, and invest billions in sustainable initiatives (source: Manulife).

Types of critical illness insurance policies Manulife offers

Manulife sells critical illness insurance; it is given the quintessentially Canadian name of LifeCheque. They offer enhanced (25 conditions) coverage.

Coverage and policy details

Manulife’s maximum coverage for critical illness insurance is $2-million. 

They offer coverage for loss of independent existence, with the caveat being payments are only offered monthly instead of a lump sum. They offer partial payouts for 6 different conditions. The payout is typically 25% of the policy up to $50,000 and is only payable once during the lifetime of the policy.

The survival period (how long you must survive with the illness before you can collect your benefit) is 30 days.

Manulife offers critical illness insurance for 10- and 20-year, coverage up to 65 or 75 years of age, or permanent coverage.

Limited-pay options are available for permanent coverage with options to Pay-to-100 or 15 Pay.

Product Name LifeCheque
Critical Illness coverage Basic and Enhanced coverage
Available Terms 10 years, 20 years, and to ages 65,75, and permanent coverage
Limited Pay option Yes. 15 Pay and Pay-to-100 available for permanent policies
Maximum coverage Up to $2-million
Conditions covered Enhanced – 25 conditions
Loss of Independent Existence coverage Yes, available as a monthly benefit payment
Partial payout conditions 6 Eligible Conditions
Partial payment or early detection payment Yes, 25% up to $50,000. Payable once.
Childhood illnesses coverage None
Survival period 30 days
Return of Premium on death Yes
Return of Premium on expiry/cancellation Yes, after 15 years.
Second event coverage No
Electronic application Yes
Online account access Yes
Electronic policy delivery Yes

Still looking for the best critical illness insurance rates?
PolicyAdvisor saves you time and money when comparing Canada’s top life insurance companies. Check it out!

Does Manulife’s critical illness insurance offer a return of premiums?

Yes, Manulife offers return of premiums on death, and they offer return of premium on expiry or cancellation of the policy after 15 years.

How do I apply for Manulife’s critical illness insurance?

You can apply for Manulife’s critical illness insurance using the best online life insurance broker in Canada. You can enter your information and look up quotes using the button below or schedule a call with one of our licensed brokers to apply for Manulife’s critical illness insurance.

Need help?
Call us at 1-888-601-9980 or book time with our licensed experts.
By Jason Reynold Goveas
Senior Insurance Advisor, LLQP
Connect with author

Want more like this in your inbox? Subscribe to our newsletter.