Manulife Life Insurance: Types, Premiums, Benefits & How to Claim

Manulife Life Insurance is a well-known insurance product in Indonesia. Many already know about this, of course, because previously it was intensive in the advertising media.

Even though it’s not an original Indonesian product or company, you don’t need to worry because this company is trusted in various countries.

Not only in Indonesia, this company operates almost all over the world. However, the names may differ from those in our country. For example, in America, Manulife is better known as John Hancock.

No need to worry, the difference is only in name, the service and benefits remain the same.

Manulife Insurance operates under the auspices of Manulife Financial Corporation which has an international standard. This company from Canada is struggling in the financial world.

So it’s not just insurance, but many other products that are run. Examples include asset management, financial advisory, and personal wealth management services.

Types of Manulife Life Insurance

Manulife Life Insurance

At first glance, we already know about the profile of Manulife Life Insurance, then we will discuss the types.

Not much different from other companies, this company also offers several types. Globally, the types in question are lifetime protection and term protection which are further divided into several products.

1. Manulife Essential Assurance

Of the types of whole life insurance, there is Manulife Essential Assurance which offers many benefits. One of the benefits provided is protection until the insured is 99 years old.

Can you imagine for yourself how long the protection provided by this type of insurance, especially since the time does not count from when you first registered.

Not only that, this insurance has a cash guarantee whose value is not affected by market fluctuations. There are several options for premium payments, namely 5 years, 10, and 20 years.

With this option, you can adjust according to ability. Interestingly, the policyholder will get additional coverage costs if he dies due to an accident.

2. MiTreasure Whole Life Legacy

The next type of Manulife Life Insurance is MiTreasure Whole Life Legacy. As with the types above, this time it is still included in whole life insurance.

Some of the benefits provided are the same, namely when a customer or policyholder dies. But of course not only that, there are many other benefits that can be obtained.

An example is the benefit of cash payments if the customer is still healthy at the end of the insurance contract.

That is, you will get free cash from the premiums paid as long as you have this insurance if you are still alive. In addition, you will also get benefits at the end of the coverage in accordance with the written agreement.

3. MiProsper Assurance for Pension

Switch to the type of term protection insurance from Manulife, one of which is MiProsper Assurance for Pension.

There are many benefits to be gained from this type, the first is to get 100% of the sum insured if the policyholder dies before retirement age. If it has exceeded retirement age, then the funds obtained are 50%.

Not only that, other benefits are obtained when the customer dies due to an accident. You will get additional funds of 100% of the total cost of coverage.

This type of life insurance Manulife also provides 50% funds to customers at the end of the insurance contract.

4. MiAssurance Protection Plan

MiAssurance Protection Plan is the next type of insurance that you need to consider. The reason is, this type does not only offer benefits when the customer dies.

You will get compensation or coverage costs starting from the 6th year to the 20th year, provided the record is still alive and the policy is active.

For death benefits, the policyholder gets 100% compensation and is given to the heirs or those previously designated in the agreement.

The next benefit is that at the end of the coverage period, customers get compensation funds according to what is determined after the 20th year.

5. ProActive Plus

Insurance is one of the most important things to protect yourself and your family. Therefore, you need to reconsider choosing the right type of insurance.

If none of the above is suitable for some reason, especially the premium cost, then you can choose ProActive Plus.

This is a type of Manulife life insurance that is quite good because of the many benefits it provides. But that’s not the main thing, but the cost of the premium is cheap and affordable.

How not, you can get maximum protection by paying only 1 million per year or 125 USD.

Manulife Life Insurance Premium Costs

Manulife Life Insurance Premium Costs

How much does Manulife life insurance premium cost? This question must be on your mind right now, as well as the majority of interested prospects.

Unfortunately, the largest insurance company in Indonesia does not provide details on how much premium must be paid. Not without reason, because there are many influencing factors.

So before you buy or become an official Manulife customer, there are many things that need to be surveyed.

For example, the age of the insured, which can be more expensive if the premium fee is old. Conversely, if you are young, then the cost of the premium determined is likely to be cheaper or lower.

Other determining factors are the type of work of the insured or prospective customer and medical history or illness.

Manulife life insurance premium costs are also influenced by the insured’s lifestyle, whether smoking, consuming alcohol, and patterns of daily life.

The term of the policy contract or how long you have been a customer also affects the amount of the premium paid.

Then if you take additional benefits or riders, then that also affects. However, the cost of the premium is also directly proportional to the benefits you get later, especially in terms of compensation costs.

Manulife Life Insurance Benefits

Manulife Life Insurance Benefits

Technically, the benefits of Manulife Life Insurance are none other than to protect yourself and your family.

This applies if the policyholder dies or has an accident according to applicable regulations. However, there are some general benefits that you should know and take into consideration.

✦ Protection from Risk of Death

Death can come at any time and no one can delay it. Because it is impossible to prevent it, the best step is to buy insurance. With life insurance, the heirs will get compensation from the insurance company.

The amount itself is in accordance with the premium paid and other factors according to the policy.

✦ Taking care of Heirs

Of course, those who benefit from the coverage fund are the heirs, not the policyholders. This is not health insurance, so benefits will be received if the policyholder dies.

With the benefits of this Manulife life insurance, you as the main source of income do not have to worry about their lives in the future.

✦ Disability Benefit

The next benefit may not be owned by other insurance companies, namely getting benefits when the customer has a disability. In general, insurance companies only provide coverage costs if the customer dies.

This is not the case with Manulife, because compensation is also given in the event of total or partial disability due to an accident.

✦ Additional Investment

Insurance and investment are two different things, but there are times when they are interrelated. That is, there are also types of insurance combined with investment.

Unit Link, that’s the name of the product or type of insurance in question. You get not only protection from this type, but also the value of the investment.

How to Claim Manulife Life Insurance

How to Claim Manulife Life Insurance

Knowing how to claim Manulife Life Insurance is very important for all customers. It’s actually quite easy, it’s just that you need to complete the documents that are the main requirement.

If you file a death claim, prepare a death certificate from a doctor or related party and a photocopy of your KTP.

Other requirements needed are the original policy letter and a photocopy of the death certificate. After all the documents are complete, please go to the Manulife branch office.

You will be asked to fill out a claim submission form, please complete it and return it. Wait for the submission process to be approved, then the funds will be transferred to the account listed.

Once the importance of insurance, maybe you should consider having it. Indeed there are many companies encountered today, each has its advantages and disadvantages.

Manulife Life Insurance is only one of them, and we have explained the types, premium fees, benefits, and how to claim them.

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