Coverme.ca or Cover me by ManuLife Life Insurance Company is a Guaranteed Issue life Insurance plan & a 10 year term plan. Here at the Quote Shop we are a broker that sell Manulife Life Insurance products, but the Cover me Plan is not recommended for everybody.
The Coverme program consists of two type of policies:
1. A 10 year term insurance plan - this plan is not nearly as competitively priced as Manulife's Family term insurance that is available if you buy it through a broker.
I have done a few comparisons online, and found that you could get the same policy for about 50% less in premium if you shop it through our calculator on top of this page.
The reason for that, I believe is because the coverme plan is heavily advertised on TV and you-the consumer is paying the high price of TV advertising.
You don't have to do that, just give us a call and we will run a comparison for you and find you the best price for the policy that you need.
Please take a look at a comparison for a 10 year term policy of 250,000 at various ages, between cover me term and a Manulife policy bought through a Broker.
|Age||Amount||Coverme term||Broker term Insurance|
*Based on 250,000 of 10 year term, male non-smoker, excellent health, rates are subject to change
2. Guaranteed Issue Life - this plan does not ask any health questions and acceptance is guaranteed. That is fine if your health is that poor that you couldn't otherwise qualify.
Most people are not in that situation. Before considering this guaranteed issue plan, we recommend to consult with a Life Insunce Broker like us, someone that has access to all insurers and types of policies. This way you will have some choices and are likely to get a better policy.
Remember, if all else fails, you can still get the coverme guaranteed issue plan.