Manulife Life Insurance
Quote in Canada
Flexible and affordable coverage for your family
Get your personalized Manulife quote
Answer a few quick questions so we can match you with the right coverage
Manulife Life Insurance
Quote in Canada
Flexible and affordable coverage for your family
Get your personalized Manulife quote
Answer a few quick questions so we can match you with the right coverage
About the Manulife life insurance company in Canada
Founded in 1887 by Canada's first prime minister and headquartered in Toronto, Manulife is one of the biggest life insurance companies in Canada, with more than 135 years of experience serving Canadian families. Today it holds over $917 billion in assets and carries an A+ rating from AM Best, reflecting its financial strength and ability to pay claims for the long term.
Manulife offers one of the broadest lineups in Canada, spanning term life, whole life, universal life, and Synergy (a combined life, disability, and critical illness policy), plus the Manulife Vitality program. The comparison below highlights two popular options, and a licensed PolicyAdvisor advisor can walk you through the full range, at no cost, to find the right fit.
Compare Manulife life insurance plans
Beyond term and participating whole life, Manulife offers a full range of coverage to fit different needs. Manulife Synergy bundles life, disability, and critical illness insurance into a single policy, while standalone critical illness plans like Lifecheque pay a tax-free lump sum if you are diagnosed with a covered condition. For guaranteed lifelong protection, Manulife also offers permanent and universal life options, along with simplified-issue plans such as Manulife Quick Issue and Guaranteed Issue for applicants who prefer little or no medical underwriting. A PolicyAdvisor advisor can compare these options and match you with the right one.
Get rewarded for living healthy
Manulife Vitality is a wellness program included with eligible Manulife life insurance policies. Earn points for the healthy choices you already make and turn them into real rewards and lower premiums.
Want to learn more about Manulife Vitality?
Give us a call at 1-647-797-9199 or book
some time with our licensed experts.
Manulife Vitality is available with eligible Manulife life insurance policies. Premium savings, rewards, and device programs are set by Manulife and may change. Ask your PolicyAdvisor advisor about eligibility.
Get your personalized quote in minutes.
Compare tailored Manulife quotes and explore coverage options designed to fit your lifestyle, with expert advice from PolicyAdvisor at no cost.
Key features of Manulife term life insurance
Manulife offers permanent, lifelong coverage too, but most families begin with term insurance because it is affordable and easy to shape around your budget. Here is what sets their term policies apart.
Level premiums
Your premium amount stays the same for the duration of your chosen term.
Flexible terms
Choose the term that fits your needs: 10 years, 20 years, or coverage to age 65.
High coverage limits
Coverage ranges from $100,000 up to $25 million, depending on your needs, eligibility, and underwriting.
Convertible
Convert your Manulife Family Term coverage to a permanent plan before age 70, with no new medical exam required.
Customizable riders
Add options like disability waiver, accidental death, and child coverage.
Digital & advisor-assisted
Start your application online and finish it with a licensed PolicyAdvisor advisor who guides you at every step.
Living benefit
Some plans offer early benefit access if diagnosed with a qualifying terminal illness or similar condition, depending on the policy.
Renewable coverage
At the end of your term, you may be able to renew your coverage without reapplying or requalifying.
Guaranteed insurability benefit
Increase your coverage at key life stages (marriage, kids, mortgage) without proving your health again, even if it has changed.
How much does Manulife life insurance cost in Canada? (2026)
Your life insurance premium depends on factors like age, gender, coverage amount, term length, and overall health, but term life insurance coverage is often more affordable than you might think.
Manulife life insurance plans make it easy and accessible to protect your family's financial future with flexible, budget-friendly options. Here are some sample rates.
The rates above are for term coverage. Permanent options like Manulife Par cost more than term but build guaranteed cash value over time, so they work differently. Your exact cost will vary based on your coverage and term, and a licensed PolicyAdvisor advisor can help you compare both term and Par rates to find the right fit for your needs and budget, with expert advice at no cost.
Illustrative rates only. Based on $500,000 Term 10 coverage for non-smoker in regular health. Actual premiums vary. Contact an advisor for a personalized quote.
Get your personalized quote in minutes.
Compare tailored Manulife quotes and explore coverage options designed to fit your lifestyle, with expert advice from PolicyAdvisor at no cost.
Why get your Manulife life insurance quote through PolicyAdvisor?
- Free, expert advice with no pressure
Our licensed advisors help you understand your options and apply, at no cost to you, with zero obligation to buy. - We work for you, not the insurer
As an independent brokerage, PolicyAdvisor compares coverage across Canada's top insurers, so you can be confident Manulife is the right fit before you commit. - Quotes and advice, all online
Get personalized Manulife quotes and speak with an advisor from home, on your schedule, without the paperwork hassle. - Support beyond the sale
From your first quote to claims down the road, your PolicyAdvisor advisor is here to help whenever your needs change.
FAQs
Everything you need to know about Manulife life insurance.
Life insurance is a contract between you and an insurer. You pay a regular premium, and in return the insurer pays a tax-free lump sum, called the death benefit, to the people you name as beneficiaries if you pass away while the policy is in force. Your family can use that money for anything they need, such as covering everyday living costs, paying off a mortgage or other debts, replacing lost income, or funding future goals like a child's education.
Manulife is one of Canada's largest and most established life insurers, with over 135 years of experience and a strong financial track record. It offers a flexible range of term and permanent life insurance options, plus Manulife Vitality, a wellness program that rewards healthy habits and can lower your premiums. Through PolicyAdvisor, you get a licensed advisor who helps you compare Manulife plans and choose the right coverage, with expert advice at no cost.
Manulife offers both term and permanent life insurance. Manulife Family Term provides affordable coverage for a set period, with terms of 10 years, 20 years, or to age 65, and the option to convert to permanent coverage later. Manulife Par is participating whole life insurance that provides lifelong protection, builds guaranteed cash value, and is eligible for annual dividends. A PolicyAdvisor advisor can help you decide which fits your needs and budget.
The right amount depends on your personal situation, including your income, debts such as a mortgage, the number of people who depend on you, and your long-term goals. A common starting point is to cover your outstanding debts plus several years of income so your family can maintain their lifestyle. A licensed PolicyAdvisor advisor can walk you through a quick needs assessment and recommend a coverage amount tailored to you.
Not always. Whether a medical exam is required depends on your age, the coverage amount, and the specific plan. Many applications can be completed with health questions only, while larger amounts of coverage may require a brief medical exam or additional information. Your PolicyAdvisor advisor will let you know what to expect based on the Manulife plan you choose.
In most cases, the life insurance death benefit paid to your named beneficiaries is received tax-free in Canada. This is one of the key advantages of life insurance. Certain situations, such as interest earned after the date of death or policies structured for business or estate purposes, can have tax implications, so it is a good idea to speak with a licensed advisor or tax professional about your specific circumstances.