This summary breaks down the decreases that Manulife Financial made to its critical illness insurance product Lifecheque on January 26.
Here is the company’s summary by category of the average rate changes, shown as a percentage.
Base + ROPD + ROPS with age bands
Age Band | 20-34 years | 35-49 years | 50+ years |
15Pay | -16% | -5% | -5% |
T75 | -6% | -3% | +1% |
T100 | -7% | -7% | +1% |
ROPS only Term 75/100
Term 75 | Term 100 | |
ROPS Rider | -7% | -16% |
ROPS only Term 75/100 with age bands
Age Band | 20-34 years | 35-49 years | 50+ years |
T75 ROPS Rider | -16% | -10% | +2% |
T100 ROPS Rider | -14% | -21% | -6% |
Source: Manulife