Waterloo, Ont.-based Manulife Financial launched the CoverMe Easy Issue Life insurance plan on Monday.
The new product, part of a suite of CoverMe life insurance products, allows individuals to purchase plans over the phone or online. The plans are available in 10-year term life insurance plan and offers benefits between $50,000 and $75,000. As part of the application process, individuals must answer two health-related questions.
“Many Canadians want simple, straightforward life insurance solutions that can be obtained quickly, easily and at their convenience,” said Brian Gooding, senior-vice president and general manager, Affinity Markets, in a release. “We believe our CoverMe Easy Issue Life plan does just that.”
CoverMe is part of Affinity Markets, a division of Manulife Financial. The CoverMe products offer individuals a range of life, disability, creditor, health and travel insurance through professional and alumni associations, retiree organizations, financial institutions, retailers, travel groups, agents and other specialty distribution channels.