Life Insurance Reviews
Manulife Life Insurance Reviews
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(90 reviews)
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I owned policy and paid 6 months in advance. They never tell you that when you redeem your policy early (person passed away) you do NOT get your money back if you pay in advance! Don't pay in advance! Pay monthly! They are horrible.
I've had three experiences on the claims side with Manulife. Two were of their life insurance policies and one was with their group employer short-term and long term disability coverage. In all three cases, I was not the claimant as such. With the two life insurance claims, I was the executor and administrator of two separate estates where the deceased was life insured by Manulife.
In both life insurance death benefits claims cases, Manulife's claims dept representatives were helpful, efficient and professional in their work. In both cases the death benefits were paid in full, expeditiously and without any delays or obstacles.
In the case of the short and long term disability case, it involved one of our company's employees. There again, Manulife's service was exemplary.
In a sense, am surprised by some of the negative reviews; however, it is more likely that one would be more motivated to place a negative review when feeling to be short-changed than a positive review for just receiving the expected. Thinking back I did have a terrible experience with one of the bank-owned insurance companies who did everything to deny a valid and fully documented travel medical emergency claim to the point that they eventually succeeded in frustrating the claim.
That case, not with Manulife but one of the bank-owned insurance companies, involved a medical emergency during a Carribean cruise. Despite having all the documentation, diagnosis, treatment, etc. they insisted on interviewing that attending physician whose personal contact information was unavailable due to privacy rules of the cruise liner. Apparently, they knew about that privacy rule of the cruise liner and used that knowledge to zap the customer.
Did you know that mortgage insurance is the same as life insurance but more expensive and offers less protection? By cancelling it and getting life insurance, you would typically save around 30%-40% for the same coverage.
Look elsewhere if you are interested in obtaining life insurance.
They will "double" your premium with two weeks notice if not less.
If you ask questions they will give you "sugar-coated" answers.
This company has absolutely no regard for its customers.
My father purchased several Manufacturer Life policies in the 1950s, forgot about them after the 1970s more or less and did not know they demutualized in 1999 which means even a simple policy for $1,000 back in the day realized 160,000 shares by 2007 when he passed away. A few years later I discovered evidence of yet another two policies. Manulife refuses to provide any information about one of the policies - as though it conveniently never existed and in regards to the other they have told me my father purchased it in the US rather than Canada like the other ones he had when he was not even able to cross the border into the USA in the early 50s let alone qualify to purchase life insurance there. The experience has been a real eye opener for me. If anyone has had a similar experience or can recommend help with the situation, I would most appreciate it. So much for consumer protection. I don't see anyone doing anything about the old, unclaimed policies.
Everyone be aware that when your policy expires they will automatically renew it at a much much higher rate. My agent phoned me to ask if I wanted to renew my policy as it was coming to its end....10 years. I asked him what the new rate will be, he said he did not know but its much higher. I said I would not likely renew. He did not remind me the contract stated its an automatic renewal unless you contact Manulife. As a result I did not notice for several months they were with drawing from my acct. a 600% increase in rates, which they will not refund.
Did you know that one in three Canadians, on average, will be disabled for more than three months before they turn 65? Get a disability insurance quote today to make sure your income is secure, even when you are temporary disabled.
I have term insurance and the rate is the best for someone my age.
When my husband passed away last year, both insurance companies were prompt with settling this matter. I found the customer service from both Manulife and Great West exceptional.
Our agent is very thorough in explaining the coverages with us. He's professional, always returns calls promptly if we have questions. The coverage was by far the most economical when I shopped around for coverages. They offer an extensive list of types of insurance that can be truly geared to our specific needs.
Did you know that if you are a 30-year old male, a term life insurance policy for 20 years with coverage of $200,000 will cost you around $19/month? Getting your term life insurance quote today will allow you to benefit from a great rate.
Agent did not warn me that premiums would increase after 10 years while signing on. This being my first insurance in Canada. Did not continue with this company after that. Moved to RBC
I was sold a whole life policy and promised all these great numbers in my cash value. As I looked more into it and did my third party research I found out quickly how they kept my savings for the first 3 years. Also, I only got the death benefit or cash value when I died. So to explain it simply I was paying for two things and only get one in return. Stay away from this company. Horrible customer service, my agent was only after a Commission.