(October 19 – 15:00 ET) – Manulife Financial is launching an online insurance service that gives consumers the ability to research and apply for term life insurance at their own convenience.
The life insurer says ManulifeDirect.com will complement the way in which the company traditionally sells life insurance — via advisors — by providing consumers with a choice of how they would like to do business.
“Providing services both online and through our advisors is one of the key strategies of Manulife. Our Web site is friendly, interactive and empowers consumers to make informed choices about their term life insurance needs,” says says Trevor Matthews, Manulife executive vice president of Canadian operations.
Educational, interactive tools available on the Web site help consumers learn about the benefits of term life insurance, calculate their life insurance needs, obtain an instant quote and apply whenever it’s convenient – all from the comfort of their own home.
According to LIMRA International’s 2000 Report, 30 per cent of Canadians are not very, or not at all, knowledgeable about life insurance. Recognizing this issue, Manulife says the Web site de-mystifies term life insurance with easy-to-understand explanations and interactive tools. Consumers wondering if they need life insurance can get an instant assessment from the needs calculator.
Consumers can also get instant quotes. Insurance applications can be submitted online or if consumers prefer, they can print and mail their applications. Customer service representatives are available.
Initially, ManulifeDirect.com will offer a 10-year term life insurance product. The company intends to offer other products in the future.