Our 2024 Review on Manulife's Critical Illness Insurance

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Alexandre Desoutter updated on 6 May 2024

Manulife critical illness insurance covers major health crises like cancer and heart attacks. With a lump-sum benefit, it ensures financial stability while you recover, taking care of expenses like medical costs, specialists, and more, ensuring the well-being of you and your family in difficult times.

It's a top choice for those seeking reliable coverage from one of Canada's leading insurance providers. But is it the right choice for you? Read our review to find out everything you need to know about Manulife critical illness insurance.

Use our free comparator to compare how Manulife critical illness insurance fares against other companies, get free personalized quotes from multiple providers and decide if Manulife is truly the best fit for you or if there's another policy that works better for your needs.

Manulife critical illness insurance: Key takeaways

  1. Manulife offers critical illness with up to a $2 million benefit with 24 covered illnesses.
  2. The Synergy 3-in-1 plan offers life, disability, and critical illness.
  3. Online quotes are available for the CoverMe plan.
  4. A short waiting period of 30 days in some cases.
  5. Monthly Care Benefits for long-term care in certain situations.

Our 2024 review of Manulife Critical Illness Insurance

Manulife stands out as Canada's largest insurance company, offering comprehensive critical illness coverage with up to $2 million in benefits and a range of plans. Their Synergy 3-in-1 plan provides a holistic approach, combining life, disability, and critical illness protection.

With a reputable history, Manulife covers 24 critical illnesses, and their innovative offerings like the Monthly Care Benefit make them suitable for diverse needs. However, potential customers should consider alternatives if looking for coverage beyond Manulife's maximum of $2 million or if seeking policies with more detailed online information.

If you think Manulife critical illness insurance is right for you, you can get a free personalized quote right here.

Pros of Manulife Critical Illness Insurance

  • Reputation - one of Canada's top insurance companies
  • A wide range of insurance offers
  • Up to $2 million benefit (Lifecheque Plan)
  • Up to 24 covered illnesses
  • Many riders available (Options for Return of Premium and Waiver of Premium)
  • Synergy 3-in-1 plans combining life, disability, and critical illness coverage
  • Calculate quote online (CoverMe Plan)
  • Shorter waiting period than some competitors (30 days)
  • Partial benefit for 6 early intervention conditions (LifeCheque)
  • In some cases, a Monthly Care Benefit is available to pay for long-term care

Cons of Manulife Critical Illness Insurance

  • Relatively little information is available on their website with a lot of information
  • Need to contact an advisor for purchase (Lifecheque)
  • CoverMe plan's list of covered illnesses is limited

If you want to be sure Manulife is the right choice, you must compare other policies. Use our comparator below to explore Canada's best critical illness insurance plans and get free personalized quotes in no time right here.

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Who offers Manulife Critical Illness Insurance?

Manulife is Canada’s largest insurance company. It is also a large player in Canada’s financial services market. You may know the group by a different name. It is known as Manuvie in Quebec. When it was founded in 1887, it was the Manufacturer’s Life Insurance Company. It has a significant international presence and in the United States, it operates under the brand name John Hancock.

It provides both group and individual insurance products including health, life, travel, and mortgage protection insurance. On this page, we explore Manulife’s critical illness insurance solutions.

Why sign up for Manulife Critical Illness Insurance?

Is critical illness insurance worth it in Canada? Here's the answer. Critical illness insurance from Manulife or another provider gives you a powerful financial safety net should you contract a critical illness or condition. A serious diagnosis is likely to affect your ability to work while engendering serious expenses. These include:

  • Medical costs and specialists not covered under a different policy
  • Transportation to see specialists
  • Chair lifts or ramps at home
  • Therapy and counseling
  • Retrofitting vehicles for accessibility

Besides these additional costs, you still need a plan for continuing to pay your rent or mortgage, child care, groceries, and other day-to-day living expenses. The flexibility of the large lump-sum benefit from critical illness insurance means that you'll have the ability to cover these bills as you see fit. You can take care of yourself and your family while focusing on recovery.

What critical illness insurance plans does Manulife offer?

Manulife critical illness insurance coverage is available in a variety of plans. They fall under three names: CoverMe, Lifecheque, and Synergy:

CoverMe: This plan offers up to a $ 75,000 benefit for 18 to 65-year-olds. Online quotes are available. It covers 5 major illnesses: aortic surgery, coronary artery bypass surgery, heart attack, life-threatening cancer, and stroke.
Lifecheque: This is a more comprehensive plan. It can cover up to $2 million in benefits and 24 critical illnesses. It is available in a variety of terms. An advisor can help you find the one that makes sense for you.
Synergy: This 3-in-1 plan includes life, disability, and critical illness insurance. It covers up to $500,000 in benefits and up to 24 conditions. It is an affordable policy with just one application and one premium.

For more on Manulife's critical illness insurance offer see the pdf below.

Can I get Manulife critical illness insurance return of premium?

Yes, you can receive a refund of your eligible premiums in case of policy surrender, expiration, or death without a claim. This optional benefit provides added financial flexibility.

How much does Manulife critical illness insurance cost?

Unfortunately, it is difficult to provide an accurate price range for Manulife critical illness Insurance as it depends on independent situations. Pricing varies widely based on the following factors:

  • Age
  • Pre-existing conditions
  • General Health
  • Smoking status
  • The amount of coverage desired

For general information, the table below summarizes the average price of critical illness insurance for various ages with a $25,000 benefit for the average provider. This is meant solely to provide a rough indication. Speak with an advisor for an exact Manulife critical illness insurance quote.

AgePrice per month
Under 25
51 to 55
56 to 60
61 to 65
Example critical illness quotes by age

Good to know

Need help deciding how much coverage to buy from Manulife? Our critical illness insurance calculator can help you make an informed decision.

We recommend that you get personalized quotes to know exactly how much you'll be paying for your policy. You can do that right here using our comparator below. Compare Manulife, Sun Life, Canada Life, and many other providers, and get free quotes using the tool below.

Find a critical illness insurance policy that's right for you

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What illnesses and conditions qualify for Manulife critical illness insurance?

The following illnesses and conditions may qualify a Manulife policyholder for critical illness benefits.

  • Aortic surgery
  • Aplastic anemia
  • Bacterial meningitis
  • Benign brain tumor
  • Blindness
  • Cancer (life-threatening)
  • Coma
  • Coronary artery bypass surgery
  • Deafness
  • Dementia, including Alzheimer's disease
  • Heart attack
  • Heart valve replacement or repair
  • Kidney failure
  • Loss of limbs
  • Loss of speech
  • Major organ transplant
  • Major organ failure (on waiting list)
  • Motor neuron disease
  • Multiple sclerosis
  • Occupational HIV infection
  • Paralysis
  • Parkinson's disease and specified atypical Parkinsonian disorders
  • Severe burns
  • Stroke

Early intervention conditions may also be available. These include:

  • Chronic lymphocytic leukemia (CLL) Rai stage
  • Ductal carcinoma in situ of the breast
  • Coronary angioplasty
  • Papillary or follicular thyroid cancer stage T1
  • Stage 1 malignant melanoma
  • Stage A (T1A or T1B) prostate cancer

Be aware that plans may cover fewer conditions than those listed.

Good to know

Be it Manulife, BMO Critical Illness Insurance, or Sun Life, different insurers have different criteria for determining the severity of an illness or condition and whether it qualifies. If you have questions, it's best to refer to the policy documents and speak with your insurance broker or Manulife advisor.

How do I apply for Manulife insurance?

To purchase critical illness insurance through Manulife, contact an advisor through the Manulife website or call 1-877-268-3763.

Before settling on an offer with Manulife it's smart to compare critical illness insurance quotes from other providers. You can do this below. Compare plans, get free quotes, and also be put in contact with an expert by clicking the button below.

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How do I contact Manulife?

For details on a new or existing policy, you can contact Manulife at 1-800-268-3763 or send an email to [email protected]. Authorized personnel will guide you through the process by connecting to the appropriate department based on your request. Telephone assistance is available from 8:00 am to 8:00 pm ET Mondays through Fridays.

You could also write to the company via post. Manulife insurance mailing address is: CoverMe, PO Box 670 STN Waterloo, Waterloo, ON, N2J 4B8, Canada

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Alexandre Desoutter Redactor in chief

Alexandre Desoutter has been working as editor-in-chief and head of press relations at HelloSafe since June 2020. A graduate of Sciences Po Grenoble, he worked as a journalist for several years in French media, and continues to collaborate as a contributor to several publications. In this sense, his role leads him to carry out steering and support work with all HelloSafe editors and contributors so that the editorial line defined by the company is fully respected and declined through the texts published daily on our platforms. As such, Alexandre is responsible for implementing and maintaining the strictest journalistic standards within the HelloSafe editorial staff, in order to guarantee the most accurate, up-to-date information on our platforms and expert as possible. Alexandre has in particular undertaken for two years now the implementation of a system of systematic double-checking of all the articles published within the HelloSafe ecosystem, able to guarantee the highest quality of information.