Garrett Agencies is the authorized advisor and representative for the Engineers Canada life and health insurance plans, providing professional advice and service to APEGA members at no additional cost.
Chosen for its objective advice, expertise, and product knowledge, the agency will assist you in developing an appropriate risk management strategy for your life and health insurance needs today and into the future.
Plans offered include:
- term life insurance
- major accident protection
- child life & accident plan
- critical illness insurance
- health care & dental care
- disability income replacement plan
For insurance planning advice, plan features, benefits, premium details, or to apply, visit the Garrett Agencies Website or call 1-800-661-3300 (Monday to Friday, 8:30 a.m. to 4:30 p.m. MST).
Professional Retiree Health and Dental Insurance Plan
A new Professional Retiree Health and Dental Insurance Plan, sponsored by Engineers Canada and underwritten by Manulife, is available to all eligible Engineers Canada members in Canada.
If you’re retiring or starting your own business, Engineers Canada offers three professional retiree health and dental coverage options:
- Base – acceptance is guaranteed regardless of your health status and no medical questionnaire is required upon application
- Bridge – no medical questionnaire is required if you apply within 60 days of your group health plan end date
- Comprehensive – offers the highest coverage maximums of the three plans in many benefit categories
Term Life Insurance Plan
The Manulife Engineers Canada Life Insurance Plan is a Term Life insurance product.
It is somewhat unique in that it has a premium schedule whereby the premiums escalate every 5-years, and the policy is renewable until it expires at age 85 (or 75 in some cases). Read more about expiry guidelines.
This product was created (originally in 1948) on the basis that your association can negotiate more favorably on behalf of hundreds of thousands of members nationally, than you can as an individual. For this reason, the Manulife Engineers Canada Term Life plan will offer a unique combination of benefits and great value – particularly for certain age groups.
We encourage you to speak with an authorized advisor who can help you ascertain if the Manulife Engineers Canada Term Life Plan is most appropriate for your age group and unique circumstances.
What You Need to Know About Your Term Life Insurance Plan
As an APEGA member, you are eligible for the Engineers Canada Insurance Benefit Plans offered through Manulife. For that reason, there is a good chance that you may either be considering purchasing insurance coverage under the program or have purchased insurance under the program historically. More specifically, you may be considering the purchase of a Term Life Insurance policy under this program or are already a policy owner. If you are either one of these people, this article is for you.
Here we will explore some of the important features and benefits that are built-in to these policy contracts that you may (or may not) be aware of. Some of these features are unique to the Manulife Engineers Canada Plans, others are standard for life insurance products of similar design. One feature that you absolutely must be aware of is your Conversion Privilege.
To understand why these features are valuable, it is important to first establish some high-level background. i.e., What types of life insurance are there? What do they do, and who are they for?
- What types of insurance are there?
- When does the insurance policy expire?
- What are all the possible eventual outcomes for policy owners?
- What should I do if I lose my job?
Next Steps for Term Life Insurance
Authorized Representatives from Garrett Agencies are available to support you in reviewing your life insurance planning and can address any potential questions or concerns you may have.
About Garrett Agencies
Garrett Agencies is an independent insurance consulting firm that has supported and serviced the Engineers Canada plans for over 25 years. In addition to being the authorized advisor (Engineers Canada Plans), Garrett Agencies monitors the entire Canadian
insurance marketplace and will provide analysis, and comparisons, regarding any life and/or health insurance product offerings available in Canada.
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