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Manulife Health Insurance Plan

Learn about Manulife Health Insurance Plan

Formerly known as the Manufacturer Life Insurance Company, Manulife is the largest insurance company in Canada. Moreover, according to worldwide institutional Assets Under Management (AUM), it is rated as the 28th largest fund manager in the world. The company was founded in 1887 and has its headquarters in Toronto, Ontario. Manulife operates in Canada, Asia, and the United States. However, its United States operation is mainly through its John Hancock Financial division. The company had about CA$935 billion in assets under administration and management, employed about 34,000 people and had 63,000 agents under contract as of 2015. Its revenue in 2016 was CA$53.3 billion and its net income in 2015 was CA$2.2 billion.

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What Does Manulife Group Benefit Cover?

The group benefits offered by Manulife are designed for both small and large businesses.

The group benefits available to small businesses include drug coverage, accidental death and dismemberment insurance, dental care, health coverage, emergency travel assistance, personal life and critical illness insurance, and so forth.

Larger businesses can take advantage of life insurance, critical illness insurance, accident protection, travel insurance, drug plan and so forth.

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What are the Different Health Insurance Plans Offered by Manulife

Manulife individual plan includes two health and dental insurance plans. To choose the plan for you and your family, it is necessary to consider what matters most to you. The health and dental plans include:

  • Flexcare health and dental insurance – this provides an affordable coverage for individuals and families and offers additional coverage for those aged 65+.
  • FollowMe health and dental insurance – this plan is designed to protect you when your employee benefits end. It offers guaranteed acceptance and special rates for couples and families with three or more children.

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News about Manulife

According to David Motemaden, an analyst at Evercore ISI, the plaintiff hedge fund Mosten Investment LP, the firm which filed a litigation against Manulife on November 23, 2016, has only 10% chance or lower to win the lawsuit against Manulife. Furthermore, Canadian court may not likely rule the case against Manulife because doing so could put the financial stability of the Canadian life insurance industry to risk.

Furthermore, Motemadan pointed out that Manulife is not likely to suffer significant adverse monetary damages because any such damage on the life insurer would adversely affect existing policyholders and a whopping 2,500 contracts outstanding could be transferred to third parties.

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Manulife FAQ

What do I need to include when I submit my claim?

The cost or expense you are making a claim on will determine what you should include. In some cases, you may need to include a claim form and an itemized receipt. An additional supporting document such as a physician’s referral may even be required in some expenses.

What are the processes of submitting my claim online?

To submit claims online, follow these steps. Firstly, sign in to the secure site and then click “Submit a Claim – Online Claims” under the “Claims” tab.

I need the claims form, where can I find it?

If you need the health and dental claim form, you can find it on the Manulife public website. Alternatively, you can sign in to the Manulife secure site, click “Claims Forms” under the Claims tab. Then choose the appropriate claims form by the type of form on the right hand side of the page.

I have submitted my claims, when will I receive my money?

Your claims will be processed within 5 business days from the date Manulife received it. Furthermore, if you opt for direct deposit, the deposit will be processed within 1 to 2 business days. Standard mailing time applies to payments received by cheque.

Where should I mail my claims?

The appropriate address to mail your claims will be provided at the bottom of the claim form.

I want to change my personal information, what should I do?

To change your name, address or banking information, complete and mail Manulife the appropriate form. If you want to correct your date of birth, you can call Manulife at 1-888-626-8543.

Can I submit my claim online?

You can submit your claim online if you meet the following requirements.

  1. The expense was incurred in Canada.
  2. You want the payment to be made to you.
  3. You have paid for and received the service.
  4. The claim is for you.
  5. The claim is for your spouse and he/she is not covered by any other plan etc.

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