Manulife Life Insurance Canada: A Complete 2025 Review

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Our expert's opinion on Manulife

Last update: August 21, 2025
ManulifeManulife
2.8
hellosafe-logoScore
A. Fruchard
A. Fruchard
Insurance expert

Manulife Canada offers a notably versatile life insurance portfolio, encompassing a wide array of plans including standard term, permanent, and guaranteed issue policies, as well as the innovative 3-in-1 Synergy® combination product. Its extensive product shelf firmly positions Manulife as a comprehensive, one-stop-shop provider for various life stages, setting it apart from more specialized competitors with its sheer breadth of choice.

The insurer is therefore well-equipped to serve a remarkably wide demographic, ranging from young families seeking affordable mortgage protection with term policies to individuals with pre-existing health concerns who can benefit from guaranteed issue coverage, and those wanting the consolidated simplicity of a single life, disability, and critical illness policy.

Despite its strong market presence, Manulife's public customer satisfaction is exceptionally low, reflected in a Trustpilot score of 1.1/5 from over 400 reviews, where primary complaints cite extreme delays in claims processing and unhelpful service, though it does provide positive digital features like a personal web portal and the Manulife Vitality wellness program.

  • Broad range of term and permanent policies
  • Combined life, disability, and critical illness plan
  • Guaranteed issue coverage for hard-to-insure individuals
  • Wellness rewards program with potential savings
  • Online tool for assessing insurance needs
  • Digital policy management via personal web portal
  • Extremely poor customer satisfaction rating (1.1/5)
  • Significant reported delays in claims processing
  • Ineffective customer service with long wait times
  • Frequent technical issues with digital platforms
  • Reports of unexpected policy changes and premium increases
ManulifeManulife
2.8
hellosafe-logoScore
  • Broad range of term and permanent policies
  • Combined life, disability, and critical illness plan
  • Guaranteed issue coverage for hard-to-insure individuals
  • Wellness rewards program with potential savings
  • Online tool for assessing insurance needs
  • Digital policy management via personal web portal

Our expert's opinion on Manulife

Last update: August 21, 2025
A. Fruchard
A. Fruchard
Insurance expert
  • Broad range of term and permanent policies
  • Combined life, disability, and critical illness plan
  • Guaranteed issue coverage for hard-to-insure individuals
  • Wellness rewards program with potential savings
  • Online tool for assessing insurance needs
  • Digital policy management via personal web portal
  • Extremely poor customer satisfaction rating (1.1/5)
  • Significant reported delays in claims processing
  • Ineffective customer service with long wait times
  • Frequent technical issues with digital platforms
  • Reports of unexpected policy changes and premium increases
ManulifeManulife
2.8
hellosafe-logoScore
  • Broad range of term and permanent policies
  • Combined life, disability, and critical illness plan
  • Guaranteed issue coverage for hard-to-insure individuals
  • Wellness rewards program with potential savings
  • Online tool for assessing insurance needs
  • Digital policy management via personal web portal
Manulife Canada offers a notably versatile life insurance portfolio, encompassing a wide array of plans including standard term, permanent, and guaranteed issue policies, as well as the innovative 3-in-1 Synergy® combination product. Its extensive product shelf firmly positions Manulife as a comprehensive, one-stop-shop provider for various life stages, setting it apart from more specialized competitors with its sheer breadth of choice. The insurer is therefore well-equipped to serve a remarkably wide demographic, ranging from young families seeking affordable mortgage protection with term policies to individuals with pre-existing health concerns who can benefit from guaranteed issue coverage, and those wanting the consolidated simplicity of a single life, disability, and critical illness policy. Despite its strong market presence, Manulife's public customer satisfaction is exceptionally low, reflected in a Trustpilot score of 1.1/5 from over 400 reviews, where primary complaints cite extreme delays in claims processing and unhelpful service, though it does provide positive digital features like a personal web portal and the Manulife Vitality wellness program.
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Why trust HelloSafe?

At HelloSafe, our life insurance experts review the coverage options and pricing structures of policies on the market each year to provide you with a reliable and unbiased analysis. Thanks to this rigorous approach, hundreds of thousands of consumers in Canada trust us each month to guide them in their most important financial decisions.

The guarantees of Manulife life insurance

Manulife is one of Canada's largest and most established life insurance providers, offering a diverse portfolio of products to meet various financial planning needs.
Manulife operates as a leading full-service Canadian insurer, delivering comprehensive solutions through a vast network of professional advisors.
Their product lineup is enhanced by the innovative Manulife _Vitality_ program, which rewards policyholders for healthy lifestyle choices with premium savings and other benefits.
Premiums are competitively structured, with distinct rates for smokers and non-smokers reflecting individual risk profiles.

  • Term Life: Provides temporary coverage for specific terms, convertible to permanent insurance, ideal for covering mortgages and income replacement.
  • Permanent Life: Offers lifelong protection with a tax-advantaged cash value component, includes both Whole and Universal Life options for estate planning.
  • Guaranteed Issue Life: A simplified acceptance plan with no medical questions for qualifying ages, offering guaranteed coverage for final expenses.
  • Manulife Synergy®: An innovative hybrid solution that combines life, disability, and critical illness insurance into a single, flexible policy with a pooled benefit.

Optional riders:

  • Accidental Death & Dismemberment (AD&D)
  • Waiver of Premium for disability (WOP)
  • Critical Illness
  • Conversion guarantee
  • Indexed growth options
  • Participating dividends
  • Education or conjoint annuity riders
FeatureTerm LifeWhole LifeUniversal LifeHybrid (Synergy®)
🪙 Death benefitGuaranteed, fixed amount for the termGuaranteed, can increase with dividendsFlexible; level or increasing death benefitPooled benefit for life, CI, or disability claim
📈 Cash value accumulationGuaranteed growth plus non-guaranteed dividendsGrows based on selected interest or investment performance
💸 Policy loansYes, available against the accumulated cash valueYes, available against the accumulated cash value
🛡️ Available ridersWOP, AD&D, Critical IllnessWOP, AD&D, additional insured ridersWOP, AD&D, cost of insurance ridersAll-in-one coverage; limited additional riders
🔄 Conversion guaranteeYes, option to convert to a permanent plan without medical evidence
📈 Participating dividendsYes, on participating policies; can purchase paid-up additions
💲 Cost of key ridersTypically 5-15% of base premiumTypically 5-15% of base premiumVaries based on rider and fundingIncluded in base premium
🔄 Premium flexibilityFixed for the duration of the termFixed, with options for limited pay periodsFlexible; adjust payments within policy limitsFixed for the term (e.g., to age 65)
⏳ Surrender chargesYes, typically applies for the first 10-15 yearsYes, typically applies for the first 10-15 years
🎂 Issue age rangeTypically 18-75Typically 0-80Typically 0-80Typically 18-60
🔒 Guaranteed levelYes, premiums guaranteed for the termYes, premiums and basic cash value are guaranteed❌ (Cost of insurance may increase annually)Yes, premiums guaranteed for the term
The guarantees of Manulife life insurance
🪙 Death benefit
Term Life
Guaranteed, fixed amount for the term
Whole Life
Guaranteed, can increase with dividends
Universal Life
Flexible; level or increasing death benefit
Hybrid (Synergy®)
Pooled benefit for life, CI, or disability claim
📈 Cash value accumulation
Term Life
Whole Life
Guaranteed growth plus non-guaranteed dividends
Universal Life
Grows based on selected interest or investment performance
Hybrid (Synergy®)
💸 Policy loans
Term Life
Whole Life
Yes, available against the accumulated cash value
Universal Life
Yes, available against the accumulated cash value
Hybrid (Synergy®)
🛡️ Available riders
Term Life
WOP, AD&D, Critical Illness
Whole Life
WOP, AD&D, additional insured riders
Universal Life
WOP, AD&D, cost of insurance riders
Hybrid (Synergy®)
All-in-one coverage; limited additional riders
🔄 Conversion guarantee
Term Life
Yes, option to convert to a permanent plan without medical evidence
Whole Life
Universal Life
Hybrid (Synergy®)
📈 Participating dividends
Term Life
Whole Life
Yes, on participating policies; can purchase paid-up additions
Universal Life
Hybrid (Synergy®)
💲 Cost of key riders
Term Life
Typically 5-15% of base premium
Whole Life
Typically 5-15% of base premium
Universal Life
Varies based on rider and funding
Hybrid (Synergy®)
Included in base premium
🔄 Premium flexibility
Term Life
Fixed for the duration of the term
Whole Life
Fixed, with options for limited pay periods
Universal Life
Flexible; adjust payments within policy limits
Hybrid (Synergy®)
Fixed for the term (e.g., to age 65)
⏳ Surrender charges
Term Life
Whole Life
Yes, typically applies for the first 10-15 years
Universal Life
Yes, typically applies for the first 10-15 years
Hybrid (Synergy®)
🎂 Issue age range
Term Life
Typically 18-75
Whole Life
Typically 0-80
Universal Life
Typically 0-80
Hybrid (Synergy®)
Typically 18-60
🔒 Guaranteed level
Term Life
Yes, premiums guaranteed for the term
Whole Life
Yes, premiums and basic cash value are guaranteed
Universal Life
❌ (Cost of insurance may increase annually)
Hybrid (Synergy®)
Yes, premiums guaranteed for the term
The guarantees of Manulife life insurance
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How much does Manulife life insurance cost?

Manulife determines life insurance premiums by conducting a detailed risk analysis for each applicant, a process called underwriting.
This evaluation uses statistical data to predict life expectancy based on key factors including your age, health status, family medical history, and lifestyle habits like smoking.
The insurer then aligns this individual risk profile with the specifics of the desired policy—such as the coverage amount and term length—to calculate a final, precise premium.

  • Age: Premiums increase significantly with age; a 40-year-old can expect to pay 80-100% more than a 30-year-old for an identical policy.
  • Health status: A clean bill of health secures the best rates, whereas common pre-existing conditions like managed diabetes or high cholesterol can increase the premium by 25% to 100% or more.
  • Smoker status: Due to the associated health risks, smokers typically pay 100-200% higher premiums than non-smokers.
  • Coverage amount: While higher coverage amounts lead to higher premiums, the cost per thousand dollars often decreases at higher thresholds (e.g., over CAD 1,000,000).
  • Payment term: For permanent policies, shorter payment periods like a 20-pay plan have higher annual premiums than a lifetime pay plan but result in a lower total cost over the policy's life.
  • Rider costs: Optional add-ons increase the total premium; for example, a Waiver of Premium rider can add 5-10%, while a Critical Illness rider might add 15-50%.
ProfileCoverage amountNon-smoker premiumSmoker premiumProfessional premium
30-year-old, excellent healthCAD 500,000CAD 35/monthCAD 75/monthCAD 32/month
45-year-old, managed high blood pressureCAD 500,000CAD 110/monthCAD 250/monthCAD 105/month
40-year-old professional, excellent healthCAD 1,000,000CAD 70/monthCAD 160/monthCAD 65/month
Manulife life insurance cost
30-year-old, excellent health
Coverage amount
CAD 500,000
Non-smoker premium
CAD 35/month
Smoker premium
CAD 75/month
Professional premium
CAD 32/month
45-year-old, managed high blood pressure
Coverage amount
CAD 500,000
Non-smoker premium
CAD 110/month
Smoker premium
CAD 250/month
Professional premium
CAD 105/month
40-year-old professional, excellent health
Coverage amount
CAD 1,000,000
Non-smoker premium
CAD 70/month
Smoker premium
CAD 160/month
Professional premium
CAD 65/month
Manulife life insurance cost

What are the surrender charges for Manulife life insurance?

When a Manulife permanent life insurance policy is surrendered, a surrender charge is applied if the cancellation occurs within a specified initial period. This charge allows Manulife to recover the high upfront costs associated with issuing the policy, such as underwriting expenses and commissions. The surrender charge is highest in the first year and systematically decreases annually until it is eliminated.

After the initial five-year period, the policy can be surrendered without any charge. The impact of this charge is a direct reduction of the policy's accumulated cash value; the final amount paid to the policyholder, known as the Cash Surrender Value, is the accumulated value minus the applicable surrender charge.

YearFee %Example & Tax treatment
110%CAD 90,000 returned on CAD 100,000 accumulated value. Any amount exceeding the policy's Adjusted Cost Basis (ACB) is taxable.
28%CAD 92,000 returned on CAD 100,000 accumulated value. Any amount exceeding the policy's Adjusted Cost Basis (ACB) is taxable.
36%CAD 94,000 returned on CAD 100,000 accumulated value. Any amount exceeding the policy's Adjusted Cost Basis (ACB) is taxable.
44%CAD 96,000 returned on CAD 100,000 accumulated value. Any amount exceeding the policy's Adjusted Cost Basis (ACB) is taxable.
52%CAD 98,000 returned on CAD 100,000 accumulated value. Any amount exceeding the policy's Adjusted Cost Basis (ACB) is taxable.
6+0%CAD 100,000 returned on CAD 100,000 accumulated value. Any amount exceeding the policy's Adjusted Cost Basis (ACB) is taxable.
Surrender charges for Manulife life insurance
1
Fee %
10%
Example & Tax treatment
CAD 90,000 returned on CAD 100,000 accumulated value. Any amount exceeding the policy's Adjusted Cost Basis (ACB) is taxable.
2
Fee %
8%
Example & Tax treatment
CAD 92,000 returned on CAD 100,000 accumulated value. Any amount exceeding the policy's Adjusted Cost Basis (ACB) is taxable.
3
Fee %
6%
Example & Tax treatment
CAD 94,000 returned on CAD 100,000 accumulated value. Any amount exceeding the policy's Adjusted Cost Basis (ACB) is taxable.
4
Fee %
4%
Example & Tax treatment
CAD 96,000 returned on CAD 100,000 accumulated value. Any amount exceeding the policy's Adjusted Cost Basis (ACB) is taxable.
5
Fee %
2%
Example & Tax treatment
CAD 98,000 returned on CAD 100,000 accumulated value. Any amount exceeding the policy's Adjusted Cost Basis (ACB) is taxable.
6+
Fee %
0%
Example & Tax treatment
CAD 100,000 returned on CAD 100,000 accumulated value. Any amount exceeding the policy's Adjusted Cost Basis (ACB) is taxable.
Surrender charges for Manulife life insurance
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Example of Policy Surrender Charges

A policy with an accumulated cash value of CAD 100,000 surrendered in year 1 would incur a 10% charge (CAD 10,000), returning CAD 90,000 to the policyholder. If the same policy is surrendered in year 5, it would incur a 2% charge (CAD 2,000), returning CAD 98,000 to the policyholder.

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What customers think of Manulife's life insurance

Review siteRating and number of reviews
Trustpilot1.1 out of 5 stars (411 reviews)
Customers reviews Manulife
Trustpilot
Rating and number of reviews
1.1 out of 5 stars (411 reviews)
Customers reviews Manulife

Here is a summary of the feedback provided by Manulife clients:

  • A primary and frequent complaint involves extreme delays in processing claims, with customers waiting weeks or months for resolution.
  • The customer service is widely described as ineffective and unhelpful, marked by very long hold times on the phone and a lack of knowledgeable support.
  • There are reports of unexpected and unilateral changes being made to long-term policies, as well as sudden denials of coverage for essential services.
  • Some customers mention experiencing what they term as "outrageous" and unexplained increases in their premiums.
  • The digital tools, including the company's website and mobile application, are often cited as being difficult to use and prone to technical problems.

How to Contact Manulife?

DetailInformation
AddressManulife directs customers to find a local advisor for in-person service; a central head office address for general inquiries is not provided.
PhoneContact is primarily facilitated through a local financial advisor. Specific phone numbers are provided for claims or investment sales teams via their respective web pages.
EmailDirect email addresses for general life insurance inquiries are not publicly listed; communication is handled through advisors or secure online forms.
Websitehttps://www.manulife.ca/personal/insurance/life-insurance.html
Responsiveness / HoursCustomer reviews frequently report significant delays in claims processing and long hold times for phone support, indicating that response times can be slow.
Live chatA live chat feature is not consistently available as a primary support channel for life insurance inquiries.
Social mediaOfficial social media handles dedicated to direct customer service for life insurance in Canada are not specified.
Manulife Customer Service Details
Address
Information
Manulife directs customers to find a local advisor for in-person service; a central head office address for general inquiries is not provided.
Phone
Information
Contact is primarily facilitated through a local financial advisor. Specific phone numbers are provided for claims or investment sales teams via their respective web pages.
Email
Information
Direct email addresses for general life insurance inquiries are not publicly listed; communication is handled through advisors or secure online forms.
Website
Information
https://www.manulife.ca/personal/insurance/life-insurance.html
Responsiveness / Hours
Information
Customer reviews frequently report significant delays in claims processing and long hold times for phone support, indicating that response times can be slow.
Live chat
Information
A live chat feature is not consistently available as a primary support channel for life insurance inquiries.
Social media
Information
Official social media handles dedicated to direct customer service for life insurance in Canada are not specified.
Manulife Customer Service Details

FAQ

What is the difference between Manulife's term and permanent life insurance?

Manulife's term life insurance provides coverage for a specific period, such as 10 or 20 years, making it an affordable option for temporary needs like mortgage protection. Permanent life insurance offers lifelong coverage and includes a savings component that builds a cash value over time. Term insurance is purely for protection, while permanent insurance combines protection with long-term financial planning.

Is the death benefit from a Manulife life insurance policy taxable in Canada?

In Canada, the death benefit paid from a life insurance policy to a named beneficiary is received entirely tax-free. This ensures your loved ones get the full amount you intended without any deductions for income tax. However, if you have a permanent policy and make a withdrawal from its accumulated cash value during your lifetime, the growth portion of that withdrawal may be subject to tax.

Do I need a medical exam to get a Manulife policy?

Whether a medical exam is required depends on your age, health, and the amount of coverage you are applying for. For many standard policies, an exam is part of the underwriting process to assess risk. However, Manulife also offers products like Guaranteed Issue life insurance, which provide coverage with no medical questions asked, making them suitable for individuals who might have difficulty qualifying for other plans.

What happens if I cancel my Manulife life insurance policy?

If you cancel a term life insurance policy, your coverage simply ends, and you will not receive any money back as these policies do not build cash value. If you cancel a permanent policy that has accumulated a cash value, you can surrender it and receive the cash surrender value, although fees may apply, particularly in the early years. The specific amount you receive will be detailed in your policy contract.

How long does it typically take for a Manulife life insurance claim to be paid out?

The standard industry timeframe for paying a life insurance claim is usually within a few weeks, provided all necessary documentation has been submitted correctly. However, it is important to be aware that customer reviews frequently report significant delays in Manulife's claims processing, with some waiting for extended periods. Delays can also occur if the death happens within the first two years of the policy, as this may trigger a review of the application.

Who can I name as a beneficiary on my Manulife policy?

You can name any person, multiple people, a trust, or a charitable organization as the beneficiary of your policy. It is highly recommended to name a specific beneficiary, as this ensures the death benefit is paid directly to them, bypassing your estate and avoiding probate fees. You should also consider naming a contingent beneficiary who would receive the proceeds if your primary beneficiary is unable to.

What is the Manulife Vitality program?

The Manulife Vitality program is a unique feature available with certain life insurance policies that rewards you for living a healthy lifestyle. By tracking activities like exercise and completing health check-ups, you earn points that can lead to lower insurance premiums and discounts on various wellness-related brands. It integrates your health and wellness directly with the cost of your insurance coverage.

What is the difference between Manulife's term and permanent life insurance?

Manulife's term life insurance provides coverage for a specific period, such as 10 or 20 years, making it an affordable option for temporary needs like mortgage protection. Permanent life insurance offers lifelong coverage and includes a savings component that builds a cash value over time. Term insurance is purely for protection, while permanent insurance combines protection with long-term financial planning.

Is the death benefit from a Manulife life insurance policy taxable in Canada?

In Canada, the death benefit paid from a life insurance policy to a named beneficiary is received entirely tax-free. This ensures your loved ones get the full amount you intended without any deductions for income tax. However, if you have a permanent policy and make a withdrawal from its accumulated cash value during your lifetime, the growth portion of that withdrawal may be subject to tax.

Do I need a medical exam to get a Manulife policy?

Whether a medical exam is required depends on your age, health, and the amount of coverage you are applying for. For many standard policies, an exam is part of the underwriting process to assess risk. However, Manulife also offers products like Guaranteed Issue life insurance, which provide coverage with no medical questions asked, making them suitable for individuals who might have difficulty qualifying for other plans.

What happens if I cancel my Manulife life insurance policy?

If you cancel a term life insurance policy, your coverage simply ends, and you will not receive any money back as these policies do not build cash value. If you cancel a permanent policy that has accumulated a cash value, you can surrender it and receive the cash surrender value, although fees may apply, particularly in the early years. The specific amount you receive will be detailed in your policy contract.

How long does it typically take for a Manulife life insurance claim to be paid out?

The standard industry timeframe for paying a life insurance claim is usually within a few weeks, provided all necessary documentation has been submitted correctly. However, it is important to be aware that customer reviews frequently report significant delays in Manulife's claims processing, with some waiting for extended periods. Delays can also occur if the death happens within the first two years of the policy, as this may trigger a review of the application.

Who can I name as a beneficiary on my Manulife policy?

You can name any person, multiple people, a trust, or a charitable organization as the beneficiary of your policy. It is highly recommended to name a specific beneficiary, as this ensures the death benefit is paid directly to them, bypassing your estate and avoiding probate fees. You should also consider naming a contingent beneficiary who would receive the proceeds if your primary beneficiary is unable to.

What is the Manulife Vitality program?

The Manulife Vitality program is a unique feature available with certain life insurance policies that rewards you for living a healthy lifestyle. By tracking activities like exercise and completing health check-ups, you earn points that can lead to lower insurance premiums and discounts on various wellness-related brands. It integrates your health and wellness directly with the cost of your insurance coverage.

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A. Fruchard
A. Fruchard
Insurance expert
HelloSafe
Co-founder of HelloSafe and an experienced entrepreneur in the insurance and personal finance sector, Antoine uses his experience and in-depth knowledge of the market to help Internet users make the right choices. With an MBA in economics, he is a committed expert whose mission is to make personal finance and insurance issues simple and understandable. With a rich career marked by the creation of innovative companies, Antoine's ambition has always been to bring transparency to complex issues and to give power back to consumers. With HelloSafe, he continues to translate this vision by providing accurate advice, impartial comparisons and detailed explanations of travel insurance. He has analysed hundreds of contracts to reveal the best options available on the market.

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