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Applications for term life insurance up to $1 million without blood, urine and other biometric data is now available for those up to age 45

By Leah Golob |


Toronto-based Manulife Financial Corp. will make accelerated underwriting available to applicants up to the age of 45 on certain products effective July 29.

In May 2016, the firm announced that, as part of an ongoing insurance modernization program, it would underwrite applications for term life products up to $1 million for qualified applicants between the ages of 18 and 40 without requiring blood, urine and other biometric data.

The program was expanded in February to not only include term life products, but also all individual life products including whole life and universal life products.

The accelerated underwriting process means that clients can expect a shortened decision-making period as fluid and biometic testing — as well as separate nurse appointments — are no longer necessary. Advisors can also settle business more quickly.

"Accelerated underwriting is an essential part of Manulife's mission to modernize insurance to improve the buying experience for clients," the firm says in a statement. "With accelerated underwriting, we are using analytics to challenge traditional underwriting practices and make insurance more accessible."

An entire list of products available for accelerated underwriting is listed in the news release.

Photo copyright: garagestock/123RF

With files from Megan Harman