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| . | Compassionate Assistance What is Manulife’s Compassionate Assistance Program? The diagnosis of a terminal illness can cause emotional and sometimes financial distress. We want you to know that we are here to support you through difficult times if they arise. Just ask for the Compassionate Assistance Program. A loan from your policy may help. How can it help me? The discovery of a terminal illness can be devastating and you may be unprepared financially for additional medical expenses or for a last wish. We can help with these costs through the Compassionate Assistance Program. How much can I receive? For all products, excluding UltraVision, you can receive a loan from the death benefit of your policy - up to $100,000. You will receive this as a lump sum payment. For UltraVision, you can receive a loan from the account value of your policy – up to $100,000. Note: If a Compassionate Assistance loan is granted, future policy withdrawals cannot be made. How much do I have to pay? The only cost is interest charged on the Compassionate Assistance loan amount and any doctor's fees for completing the application form. Otherwise, this benefit is provided free with all our life insurance policies. The money comes to you tax-free. What happens to my insurance protection? Your policy will remain in effect as usual. However, the amount of Compassionate Assistance loaned to you will be deducted from the death benefit or cash value that will be paid to your beneficiaries upon your death. As well, interest will be deducted based on the Compassionate Assistance loan amount. The rate is the Manulife Bank prime rate in effect when the loan is approved. To Top About this choice You may need to discuss this choice with your financial advisor. You purchased your insurance coverage with certain needs in mind. In most cases, life insurance is purchased to replace your income so that your family's needs are met after you pass away. It's important to balance those needs with your new needs. A financial advisor can help. To Top How do I apply? It's simple. If you have been diagnosed with a terminal illness and have less than two years to live, you and your doctor can complete the form below to let us know that you'd like to apply for Compassionate Assistance. Or, contact our Valued Customer Centre at 1-888-626-8543 (in Quebec, call us at 1-888-626-8843) and we'll send you the form for you and your doctor to complete. Once we receive the form and the loan is approved, the final step is to sign a Loan Agreement. All information we receive is kept strictly confidential. Application Form Compassionate Assistance Brochure To Top What is a viatical settlement? Don't lose valuable protection. Some people turn to "viatical" organizations that buy life insurance policies, sometimes for significantly less than the value of the policy. The difference is kept by the viatical organization. This means less for you and your beneficiaries. Because Compassionate Assistance is offered through your Manulife life insurance policy, you will not need a viatical arrangement. We believe that you should not have to surrender your policy and lose its valuable protection at a time when you are faced with unforeseen medical expenses or loss of employment due to illness. Manulife's Compassionate Assistance can provide the help you need. To Top | CompassionateAssistance/$File/c_compassionate_assist.jpg) |
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