Benefits for the real world. Product details, claims processes and cost issues sometimes overshadow the fact that group benefits are ultimately about people and their lives. The real benefits are the assurance and confidence your plan members feel knowing they're protected, and the relief and comfort they experience when they see their benefits in action.
We're there
We provide consultancy for choosing the right plan for you. The right group insurance plan can help to provide peace of mind to plan members. We've done a lot of research on the various innovative solutions provided by a number of Group insurance providers.
Explore the information provided in this section to learn about the various group benefits products available to you and your plan members:

• Life Insurance / Accidental Death & Dismemberment Insurance
• Extended Health Care
• Dental Care
• Disability Benefits
• Flexible Benefits
• Health Spending Account
• International Benefit Solutions
• North2South Benefits Solution™
• Voluntary Benefits
• Health management solutions

GROUP RETIREMENT PLANS 

PRODUCTS

Group TFSA
A Tax-Free Savings Account is an investment vehicle that allows individuals to save money and benefit from a tax-free environment on the earnings generated and on withdrawals.

Defined Contribution Registered Pension Plan (DC-RPP)
Providing income based on defined contributions, investment selection and return on investments

Defined Benefit Registered Pension Plan (DB-RPP)
A plan where the amount of pension is determined in advance, usually based on a formula

Simplified Pension Plan (SPP)
A defined contribution pension plan administered by a financial institution

Individual Pension Plan (IPP)
A defined benefit pension plan primarily for senior executives and business owners

Group RRSP
Individual RRSPs offered to a group of individuals by a plan sponsor

Non-Registered Savings Plan (NRSP)
Plan for additional, non tax-sheltered savings

Deferred Profit Sharing Plan (DPSP)
Tax-assisted plan for sharing profits with employees

Employee Profit Sharing Plan (EPSP)
Plan for sharing profits with employees in a non tax-sheltered environment

Retirement Compensation Arrangement (RCA)
Usually for the funding of a non-registered pension plan, subject to particular tax rules

Structured RRSP (STRP)
A Group RRSP to which the employer contributes

Group Annuities
A guaranteed amount of income that is paid to the recipient or their survivor for a prescribed period, which can include their lifetime

Group RRIF/LIF
A flexible income stream, which allows members to stay invested while receiving a prescribed amount of retirement income

PENSION PLANS

IRP
Personal Income Replacement Plan can safeguard against lost earnings if an individual suffers from an illness or injury and is unable to work. The Personal Income Replacement Plan provides financial security by providing you with a replacement income if you are too ill to work for a certain length of time. Call our financial advisors to know more about how these plans work and serve the best interest of income earners and their dependents.

RRSP
Even if you've missed making your Registered Retirement Savings Plan (RRSP) contribution in previous years, there's no time like the present to start saving for retirement. A RRSP is one of the best tools you have for ensuring a comfortable retirement. With a Manulife Bank RRSP Loan you can:

• Top-up your RRSP and reduce your unused contribution room;
• Increase your RRSP growth potential - through the power of compounding, the larger your initial investment and the longer it remains invested, the greater your investment growth potential;
• Reduce your taxes now;
• Establish a disciplined savings routine;
• Defer your first loan payment by 90 days which can give you time to apply your tax refund to reduce your loan balance.

We can help you taking care of your RRSP contribution, easier than ever.

KEY PERSON INSURANCE 
In general, it can be described as an insurance policy taken out by a business to compensate that business for financial losses that would arise from the death or extended incapacity of the member of the business specified on the policy. The policy’s term does not extend beyond the period of the key person’s usefulness to the business. The aim is to compensate the business for losses and facilitate business continuity. Key person insurance does not indemnify the actual losses incurred but compensates with a fixed monetary sum as specified on the insurance policy.
An employer may take out a key person insurance policy on the life or health of any employee whose knowledge, work, or overall contribution is considered uniquely valuable to the company. The employer does this to offset the costs (such as hiring temporary help or recruiting a successor) and losses (such as a decreased ability to transact business until successors are trained) which the employer is likely to suffer in the event of the loss of a key person.
A key person can be anyone directly associated with the business whose loss can cause financial strain to the business. For example, the person could be a director of the company, a partner, a key sales person, key project manager, or someone with specific skills or knowledge which is especially valuable to the company.