Aetna Insurance in Canada
Aetna, Inc. is a U.S. based health care company that sells a variety of insurance and employee benefit products. Aetna was founded in 1853; the first product they sold was life insurance. Some companies owned by Aetna, Inc. include ActiveHealth Management, Aetna Capital Management, Aetna Global Benefits, Aetna Student Health, Medicity, Prodigy Health Group, Schaller Anderson and Strategic Resource Company. Aetna provides insurance products to residents of the United States.
In the past, Aetna provided residents of Canada with life insurance. Canadian life insurance was originally provided through the Excelsior Life Insurance Company, which Aetna purchased in 1960. Excelsior’s name was changed to the Aetna Life Insurance Company of Canada in 1989. In 1997, Aetna Life acquired the Financial Life Assurance Company of Canada. Aetna Life was then acquired by Maritime Life in 2000, and Maritime Life was acquired by Manulife Financial in 2004. What this all means is that if, at any point during the past, you acquired a life insurance policy through any of these companies, Manulife Financial is the company currently responsible for servicing and guaranteeing your policy.
Manulife Financial sells three basic types of life insurance policies: term life insurance, whole life insurance and universal life insurance. Term life insurance comes in two forms: Family Term and Business Term. Family Term, like the name suggests, is designed for people who want to protect their families; upon your death, your family will receive a payout. Business Term is designed for people who want to protect their businesses; if your or another owner of the business dies, the payout can provide enough money to keep the business afloat or allow the other owners in the business to buy-out the deceased owner’s share of the business.
The whole life insurance provided by Manulife Financial is called Performax Gold. Performax Gold is not just life insurance; it’s a way to make money and reach financial goals. Manulife Financial’s universal life insurance policies are Security UL, Limited Pay UL, UltraVision and InnoVision. One great thing about universal life insurance through Manulife Financial is that it’s customizable; you can customize it before you buy it, or you can customize it years after you’ve purchased it. Universal life insurance is designed to help you make money through tax-advantaged investing.
A fourth life insurance product sold by Manulife Financial is called CoverMe Life. CoverMe Life comes in three different forms; Term Life, Guaranteed Issue Life and FollowMe Life. CoverMe Life is specifically designed to be easy to understand and easy to purchase online. With Term Life, your rates are guaranteed to remain stable for the first 10 years. With Guaranteed Issue Life, you are guaranteed acceptance no matter what kind of health you are in. FollowMe Life is designed for people who have life insurance policies that are about to lapse; if you apply for FollowMe Life within 60 days of your current insurance policy’s end date, you will be guaranteed acceptance.