New Insurance Policy

NEW INSURANCE POLICY WORLDS: Manulife announced its new insurance product, Synergy, life insurance, critical illness insurance and disability insurance combined in one package with an application to manage a payment plan.

"For many of us significantly, the combined risk of disability, illness or death before the age of 65, and the financial consequences can be devastating," said Michael Doughty, Executive Vice President, individual insurance. "While these risks are insurance products to consumers now have separate changes Synergy purchasing decisions and buying a stand-alone policy and the cost is often too expensive .."

Synergy offers a "pool of money" for claims against serious diseases, disability insurance and death on demand. Benefits paid to each of the basins in case of serious illness or disability will reduce the amount of the pool for the death benefit. This concept is revolutionary new insurance because no insurance company in North America is the combination of services and bundled applications.

This new design offers the potential for synergies insurance savings when purchasing three stand-alone policy. For example, a non-smoker, age 30, men to buy $ 250 000 in synergy insurance up 34% over three stand-alone policy to save.

"With Synergy, we help families turn their life insurance needs, they should not be able to work and protect their incomes," said Paul Smith, vice president, marketing and product development, individual insurance . 'We have a gap in the market and I wanted to Canadians with a simple solution to save money in the real everyday risks that they can cover. "
Research points to need for new insurance plans

A recent survey by Manulife Financial were conducted, showed that:

    * Nearly six in 10 respondents said the provision for their families when they die, have been affected.
    * Seven out of 10 were very or somewhat concerned about the financial implications of not working for the situation over a longer period of time due to injury or illness.
    * Less than 60% of respondents said they have an individual life insurance, only 21% have an individual disability insurance, and only 13% said they have a personal protection against serious diseases.
    * A total of 92% of Canadians surveyed do not plan that includes three products, individual life, disability insurance and critical illness.