Understanding Manulife Par
What it is
Guaranteed early cash values, meets flexibility and long-term protection, all with potential tax-saving advantages. Manulife Par is a streamlined and targeted participating whole life insurance product designed with guaranteed:
- Premiums
- Amount of insurance that remains in effect for an entire life
- Cash value that grows over time
But that’s not all. Manulife Par is built with dependable, hassle-free features for you and your clients, including:
Pre-approved lifetime deposit option limit – even for policies converted from term
Ratings are never applied to paid-up and deposit options insurance
Contracts written in plain, client-friendly language
Non-smoker classification for juveniles (age 0-15)
No policy fees
Who it’s for
Consider Manulife Par for clients who have maximized non-registered and registered savings options, but could benefit from additional tax-advantaged options to diversify their assets. Manulife Par may be ideal for:
- Accumulate wealth and defer taxes
- Pass funds to the next generation
- Secure collateral for a loan
- Compliment retirement income
- Optimize estate planning
- Protect their business and maintain access to cash
- Pass on value accrued in a private company
- Secure collateral for a loan
- Pay off tax liability at time of death
- Leverage tax-advantaged management of extra assets
How it works
Manulife Par offers a strong foundation of guarantees, plus the opportunity to earn an annual dividend, giving clients the ability to grow their insurance coverage and cash values beyond the guarantees.
Clients can choose from two dividend options:
- Purchase additional amounts of fully paid-up insurance, which may also earn dividends and help increase cash value
- Receive it as cash
And your clients can choose from:
- Single life or Joint last-to-die (premiums to last death)
- Guaranteed premium durations for 10 or 20 years, or to age 90
Additional features
Term Insurance Riders (TIR) – 10 and 20-year renewable
Total Disability Waiver (TDW) – insured and payor
Guaranteed Insurability Option (GIO)
Children’s Protection Rider (CPR)
