In May 2016, Manulife announced it was able to underwrite term life insurance policies of up to $1 million without requiring people to meet with paramedical staff for testing. The rule applies to eligible applicants between the ages of 18 and 40.
And now, the company has expanded this practice to include all individual life insurance products, including whole life and universal life products.
Manulife says testing has also been reduced for clients between the ages of 41 and 69; Canadians applying for insurance coverage up to $5 million no longer require an electrocardiogram (EKG). Further, clients aged 70 and over who apply for insurance coverage up to $10 million now only require a resting EKG, whereas previously a stress EKG was required.
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