Does your client want to access the cash value of their inforce life insurance policy? It may be time to consider the Insured Retirement Program (IRP)

March 2021

Here’s the scenario:

• Your client has an inforce life insurance policy 
• The policy has accumulated significant cash value 
• Your client wants to access the cash value 
• You want to show them an IRP illustration

Your first step is to sign in to Advisor Portal and order your Inforce Illustration. Here’s how:

Step 1:

• Sign in to Advisor Portal
• Choose the “Tools & Illustrations” tab
• Look for “Inforce Illustrations” (TIP-click on the bookmark icon on the right side of this page  to add it onto your Bookmarks page for easy access in future).  Click on the “Inforce Illustrations” link

Step 2:

• On the “Welcome to Inforce Illustrations” screen, enter your policy number and certificate
• Click “continue”

Step 3:

• Always choose “special request form“ even if the system will produce an illustration without selecting it

Step 4:

• Complete all sections of required for your inforce quote Eg: Rate & Payment details

Step 5:

• Check the “additional details” box and provide your IRP instructions Eg: when loans are to start, loan duration, bank loan rate, instructions to forward the inforce quote to Conceptquote
• Click “submit” and you’re done!

When the inforce illustration is completed, it will be sent by the inforce quote area to conceptquote@manulife.ca. We will use the illustration to prepare the customized IRP illustration. It will then be sent to you for review with your client.

Questions about your inforce illustration can be directed to inforceillustrations@manulife.ca or by calling the Advisor Service Centre at 1-877-626-8543.

Reference Materials:

• Manulife’s “Insured Retirement Program” – Evolving with an ever-changing world
• Manulife Bank's-cash surrender value lending solutions (AB0679E)
• Manulife Bank's Guide to Cash Surrender Value (CSV) Line (AB0684E)

The Insured Retirement Program is designed to support borrowing from the life insurance policy during retirement. Where a client is looking to borrow against the policy before retirement, Manulife Bank may structure the loan differently than the IRP loan arrangement. To determine the loan structure and lending requirements before retirement, contact a Manulife Bank lending consultant.

• Standard Life Inforce illustrations for Perspecta & Designer products need to be emailed to: LIS-After-sales@manulife.ca. Include the IRP instructions with the email.
• PAR inforce illustration requests can be emailed directly to inforceillustrations@manulife.ca. Include IRP instructions with the email.