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Manulife Premium Protection Plan
New Protection Plan has created a buzz with travel agents

Manulife Premium Protection Plan

Thursday, March 28, 2019

Imagine having cancellation insurance to cover you in the event your pet gets sick, or if your boss cancels your time off from work, or the destination wedding you were travelling to is called off. That’s what the Manulife Premium Protection Plan can help cover.

Historically, trip cancellation insurance policies cover you for a set number of covered events, such as illness, travel advisories, and accommodation or transportation issues. The Manulife Premium Protection Plan does not have a list of specific covered events, but instead, offers cancellation coverage for any unexpected and unforeseen event that prevents you from travelling with some exclusions, only four of which helps make this coverage simpler for both the selling agents and their clients.

In addition to the comprehensive trip cancellation and interruption coverage, this package plan offers up to $10 million in emergency medical coverage, baggage loss and delay benefits, and travel and flight accident insurance. The Manulife Premium Protection Plan offers a “Cancel For Any Reason” feature, allowing the client to be reimbursed up to 75% of the non-refundable trip amount when they choose to cancel due to an expected event or if they just change their mind and choose not to travel.

When the plan was first launched, there was initial apprehension. It seemed too simple and travel agents were trying to complicate it. In Manulife’s experience, insurance can often be associated with being complicated and having so many exclusions and limitation attached to a policy. This plan was different and they needed time to adapt. The key to their success has been through product and sales training, and those who have made the commitment have seen an increase in their travel insurance sales.

Now you may be thinking, “how expensive is it?” Well, you may be surprised to learn that for many one- to three-week vacations sold in Canada, this new Manulife Premium Protection Plan has a lower premium than most travel insurance package plans in the market.

Manulife has built their reputation on the ability to be forward-thinking, reliable, trustworthy and strong. The Manulife Premium Protection Plan lends itself well to these core values. It is a convenient plan to have when life happens. Manulife strives to make sure that travellers are covered with this plan when it does.

*Conditions, limitations and exclusions apply. See policy for details.

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