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Synergy: It’s a life insurance policy, a disability insurance policy and a critical illness insurance policy all rolled into one easy-to-manage and affordable solution. Synergy’s unique design and special features like Health Service Navigator®, a trusted online and on-call resource for health information and health care navigation and medical second opinion service, offers your clients protection against life’s everyday risks.
With Synergy, your clients can:
- Address three insurance needs rolled into one easy-to manage, affordable plan
- Purchase a permanent life insurance plan at age 65 – no medical underwriting required*
- Stop paying premiums while on claim for a disability
- Connect to an exclusive health information and support service – anytime, anywhere
Designed to help middle-income Canadians ages 18 to 50 reduce the financial impact of income loss due to injury, illness and premature death, Synergy may be ideal for:
- Mortgage and debt protection
- Supplementing gaps in group disability, critical illness and life insurance coverage
- Stay-at-home and non-income earning parents and spouses
Clients buy between $100,000 and $500,000 of Synergy. This amount creates a pool of money called their Synergy amount of insurance from which benefits are paid. Whenever a benefit is paid, the available amount of insurance (or pool of money) reduces by that amount.
Clients can benefit from their available pool of money in three ways:
| Disability Insurance Policy | Critical Illness Insurance Policy | Life Insurance Policy |
|---|---|---|
| The monthly disability benefit amount is 0.5% of the Synergy amount of insurance.** | The covered condition benefit amount is 25% of the Synergy amount of insurance minus any Recovery Benefit paid. | The death benefit is 100% of the available amount of insurance. |
Customize Synergy with optional riders:
- Term Insurance Rider – (10 year renewable and convertible to age 65)
- Child Protection Riders (Life and critical illness)
Advisors should complete the short version of our Manulife E-Application, using Family Term as the product category and T10, single as the coverage type, for the same face amount. Next, advisors should attach a Synergy illustration, selecting Other as the document type. We’ll change the product to Synergy on our end and underwrite as usual. Any underwriting decision provided for the life insurance coverage should be ignored, as they will all be reviewed by an underwriter for Synergy coverage as applied for.
* Unavailable if a critical illness benefit has been paid. Limited to the remaining Synergy amount of insurance and Manulife’s issue limits.
**This benefit will continue to be paid while the insured is disabled until the available amount of insurance is reduced to zero.
Health Service Navigator is offered through and is a registered trademark of Manulife (The Manufacturers Life Insurance Company). Health Service Navigator is powered by WorldCare Inc. WorldCare and The WorldCare Consortium are trademarks of WorldCare Limited, used under license.