WATERLOO, ON, Oct. 31 – Manulife Financial and I.G. Insurance Services Inc. today announced an agreement that will allow Investors Group’s approximately 3,500 consultants access to a range of Manulife individual term and universal life insurance products.
Investors Group and Manulife have signed a letter of intent to establish a long-term distribution arrangement. Under this arrangement, Manulife will provide a range of insurance products that will be distributed through Investors Group Consultants across Canada. Subject to regulatory approval and execution of definitive agreements, Manulife’s products would be available through Investors Group’s Consultants early next year.
“This deal significantly broadens our distribution network and brings together two of the country’s leading financial services companies to deliver products to Canadians,” said Bruce Gordon, Manulife’s Executive Vice President of Canadian Operations. “We are committed to forming alliances which enable us to grow our business and better serve Canadians.”
Broader services for Investors Group
“Our relationship with Manulife further strengthens our combination of comprehensive and diverse financial products, exceptional personal service and financial planning advice,” said Kevin Regan, President of I.G. Insurance Services Inc. “Investors Group has placed significant emphasis on ensuring that insurance planning and products play a key role in overall financial planning. With this venture, we can extend our relationship with our clients in many ways.”
Under the new agreement, Investors Group’s 3,500 consultants will be able to offer Manulife universal life insurance and a range of Manulife individual term products in virtually every community in Canada early next year.
Under the agreement, Investors Group consultants licensed to sell insurance would be able to offer the following Manulife products:
- InnoVision universal life
- Family Term and Business Term
- Signet (term to 100)
- 10 Year Term
All term coverage would be available at coverage amounts of $250,000 and above.
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services company operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection products and wealth management services. Funds under management by Manulife Financial (Manulife Financial Corporation and its affiliated companies) were Cdn$134.6 billion as at September 30, 2001. Manulife Financial Corporation trades as ‘MFC’ on the TSE, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.
About Investors Group
Investors Group is a national leader in delivering personalized financial solutions to more than one million Canadians, through a network of over 3,500 Consultants located in 100 Financial Planning Centres. In addition to an exclusive family of mutual funds, managed asset and other investment vehicles, Investors Group offers a wide range of mortgage, insurance and brokerage services. As of June 30, 2001, Investors Group assets totalled more than $80-billion, including the assets of Mackenzie Financial. Investors Group is a member of the Power Financial Corporation group of companies.