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A Manulife Benefit Account: Helping you afford the time to choose wisely! |
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A Manulife Benefit Account is an interest-bearing personal checking account that contains the proceeds from a life insurance policy. It is designed to give beneficiaries immediate and easy access to their funds while earning interest from the date it was established. |
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How It Works
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The beneficiary is in control of the account. Withdrawals can be made for the entire balance, or in amounts of $250 or more, simply by writing a check. The account earns a competitive variable rate of interest compounded daily and credited to the account on the 15th day of each month. Beneficiaries will receive a monthly statement showing all checks written and interest credited to the account.
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Advantages of a Manulife Benefit Account
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- TIME: Many people find it difficult to make important financial decisions immediately after the loss of a loved one. A Manulife Benefit Account allows you to take the time you need to make a sound financial plan.
- FLEXIBILITY: A Manulife Benefit Account offers the flexibility to access your money when it suits you best and in the amounts that meet your financial needs.
- SAFETY: With a Manulife Benefit Account, you have the peace of mind of knowing your account is backed by Manulife Financial and earning a competitive interest rate.
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A Manulife Benefit Account: Accessible funds earning a competitive interest rate! |
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