Lower rates for COVID-19 Pandemic Travel Plans
Submitted by Victoria on July 30, 2021 - 3:08pm
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| What’s happening | We are offering lower premium rates (a decrease of more than 30%, on average) for our COVID‑19 Pandemic Travel Plans! | Effective dates / timelines | COVID‑19 Pandemic Travel Plan for Travelling Canadians (the “COVID‑19 Plan”)
Effective July 23, 2021, Manulife will offer a price reduction for the COVID‑19 Plan.
Medically Underwritten COVID‑19 Pandemic Travel Plans (the “MUPS COVID‑19 Plan”)
Effective July 30, 2021, Manulife will offer a price reduction for the MUPS COVID‑19 Plan.
Note: This is a rate change only and there are no policy changes to either plan. | Why we’re making these changes | Manulife continues to monitor the changing COVID‑19 situation and more Canadians are getting vaccines and infection rates are decreasing. | How it affects you | Premium rates will be reduced for all ages. Commission on premium will be increased by 5% for under age 60 and will remain the same for age 60 and over.
Commission on the MUPS COVID‑19 Plan will remain the same. | How it affects your clients | They may benefit from a lower COVID‑19 Pandemic Travel Plan premium rate. | Can we reissue a policy for a lower premium? |
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| • | Yes. For the COVID‑19 Plan, we can refund and reissue policies on or after July 23, 2021, if the client has not departed on their trip. | 
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| • | Yes. For the MUPS COVID‑19 Plan, we can refund and reissue policies on or after July 30, 2021, if the client has not departed on their trip. |
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| Will lower premium rates apply if my client wants to extend their trip while at their destination? |
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| • | Lower premium rates will not apply to extensions for those that departed before: |
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| | | • | July 23, 2021, if they purchased the COVID‑19 Plan |
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| | | • | July 30, 2021, if they purchased the MUPS COVID‑19 Plan |
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| • | The lower premium rate will not apply to any extension if your client purchased a COVID‑19 Plan before July 23, 2021, for a departure date on or after July 23, 2021, and we did not refund and reissue the original policy. |
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| • | The lower premium rate will not apply to any extension if your client purchased a MUPS COVID‑19 Plan before July 30, 2021, for a departure date on or after July 30, 2021, and we did not refund and reissue the original policy. |
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| Next steps | Manulife continues to monitor the COVID‑19 situation within Canada and worldwide. | |
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