What if you've suddenly lost your Group Benefits?

If your Group Benefits plan is terminated, perhaps because of a change in employment status, don't worry: you have options!

Normally, you may convert your life coverage to a personally owned policy and this would be done without having to undergo a further medical examination. However, the premiums are normally much higher than standard, sometimes in excess of 200%, and the insurance company does not give you a choice of plan. (Normally the rate for conversion is high because those who take advantage of this opportunity cannot buy standard insurance.)

If you believe that your health is good enough to be underwritten then click here, and find out if you're able to save money on your premiums

As a general rule, the conversion must be performed within 30 days of termination.

This is a general statement of information. Always refer to your policy booklet for conversion options and other details. (If your group benefits plan was brokered by Performins Group Benefits Canada, you can see your booklet online here.)

What about medical and dental benefits?

With Manulife's Follow Me plan, you can buy coverage without undergoing a medical examination if you apply within 60 days of the termination of your group plan.

(Clicking links to Manulife will take you away from this website, and will open a new tab or window. When you arrive at the new page, click the link at the bottom of the page that reads, "Personal Plans for Individuals and Small Business".)

What about Critical Illness and Long Term Disability?

If you would like to investigate your options regarding Critical Illness insurance, please click here.

If you would like to look into Long Term Disability coverage, please click here.

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