Manulife Financial and I.G. Insurance Services Inc. today announced an agreement that will allow Investors Group’s approximately 3,500 consultants access to a range of Manulife individual term and universal life insurance products.

Investors Group and Manulife have signed a letter of intent to establish a long-term distribution arrangement. Under the agreement, Manulife will provide a range of insurance products that will be distributed through Investors Group Consultants across Canada. Subject to regulatory approval and execution of definitive agreements, Manulife’s products would be available through Investors Group’s consultants early next year.

“This deal significantly broadens our distribution network,” said Bruce Gordon, Manulife’s Executive Vice President of Canadian Operations. “We are committed to forming alliances which enable us to grow our business and better serve Canadians.”

“Our relationship with Manulife further strengthens our combination of comprehensive and diverse financial products,” said Kevin Regan, President of I.G. Insurance Services Inc. “Investors Group has placed significant emphasis on ensuring that insurance planning and products play a key role in overall financial planning. With this venture, we can extend our relationship with our clients in many ways.”

Under the new agreement, Investors Group’s consultants will be able to offer Manulife universal life insurance and a range of Manulife individual term products in virtually every community in Canada early next year.

All term coverage would be available at coverage amounts of $250,000 and above.