Manulife has announced that it will be offering accelerated underwriting for applicants up to age 45 as of July 29. Previously, this simpler process was available to clients ages 18 to 40.

In February, Manulife introduced accelerated underwriting for term and permanent life insurance and Synergy, eliminating blood, urine and nicotine testing requirements for eligible clients aged 18 to 40.

In an announcement this week, the insurer stated, “Manulife will be able to offer accelerated underwriting for most of our life insurance products, to eligible clients aged 18 to 45 for coverage amounts up to $1,000,000.”

No fluids or biometric testing

This change means reduced medical underwriting (no fluids or biometric testing); a more convenient process with a single meeting (no separate appointment with a nurse required) and a quicker cycle time for a faster decision, says the insurer.

Products eligible for accelerated underwriting are: Family Term; Family Term with Vitality; Business Term; Manulife UL; InnoVision; Security UL; Performax Gold; Synergy and Term insurance riders on Universal Life, Whole Life and Synergy.

Mission to modernize insurance

“Accelerated underwriting is an essential part of Manulife’s mission to modernize insurance to improve the buying experience for clients – with accelerated underwriting, we are using analytics to challenge traditional underwriting practices and make insurance more accessible. It’s one more way we’re fundamentally changing the way Canadians experience buying and owning insurance,” says the announcement.