GIF Select - EstatePlus

  • Product name

    GIF Select

  • Description

    Only available to clients with GIF Select contracts opened on or before May 13, 2016.

  • Product type

    Segregated Fund Contract

  • Original Company

    Manulife


Product snapshot

Fund minimum

$500 minimum per fund per sales charge option

$2,000 minimum for Manulife Dollar-Cost Averaging Program GIF select

$100,000 minimum per fund for Elite Pricing¹

Subsequent deposits

$500 minimum per fund

$2,000 minimum for Manulife Dollar-Cost Averaging Program

PAC deposits

Minimum $50 per fund per sales charge option

Maximum deposit

Deposits greater than $1,000,000 or any subsequent deposit that will cause the market value of the contract to be greater than $1,000,000 require pre‑approval.

Withdrawals²

Ad hoc: Minimum $500 per fund per sales charge option

Scheduled: Minimum $100 a month per fund per sales charge option

Switches²

Fund Switches

  • Ad hoc: Minimum $500 per fund per sales charge option
  • Scheduled: Minimum $100 per fund per sales charge option
  • Five free switches per year
    • Switches between funds within a Series and within the same sales charge option do not affect any of the guarantees

Age Limits

Contract Types

Latest Age to Deposit*

Non-registered, TFSA, LIF, RRIF, LRIF, PRIF, RLIF

80

RRSP, RLSP, LIRA

71**

LIF (pension jurisdictions requiring annuitization at age 80)

71

*All dates are as of December 31 of the annuitant’s age shown

**Or latest age to own under the Income Tax Act (Canada)


Features

Death guarantee

100% of deposit value or the current market value, if greater, reduced proportionally by withdrawals

Automatic reset every 3 years until annuitant reaches age 80 and a final reset on the annuitant’s 80th birthday if market value is greater than current Death Benefit Guarantee

Maturity guarantee

75% of deposit value or the current market value, reduced proportionally by withdrawals

Available on December 31 of the annuitant’s 100th year or earlier where required by legislation

Payout guarantee

N/A

Income guarantee

N/A

Ability to bypass estate costs

Yes

Potential for creditor protection

Yes

Waiving redemption fees upon death

Yes

Ability to name a successor annuitant

Yes

Ability to name successor owner²

Non-Registered contracts only

Joint Life Option

No


Fees

Management Expense Ratio (MER)

MERs vary by Fund for more details visit Price and Performance.

Sales Charge Options

A sales charge option may be paid at the time of deposit or on a deferred basis depending on the load option chosen.

Refer to Sales Charge Options section for more information.

Other Fees

EstatePlus Fee applies in addition to the MER for the Death Benefit enhancement.

A Small Policy Fee may apply if your Death Benefit Guarantee balance is below the initial Deposit minimum

Charges may apply for certain transactions including withdrawals and Fund switches.

For additional detail, refer to the Information Folder and Contract documentation.

Load Options

Back-end, Back-end Elite, Low-load, Low-load Elite, No-load, Front-end, Front-end Elite and F-Class

Sales Charge Options %

Fund category

Year

Back-end & Back-end Elite

Low-load & Low-load Elite

Front-end,

Front-end Elite & F-class

Money Market Fund
(excludes the Manulife Dollar-Cost Averaging Advantage Fund)

Year 1

1.50

1.00

N/A

Year 2

1.50

0.50

Year 3

1.50

0.50

Year 4

1.00

0.00

Year 5

1.00

0.00

Year 6

1.00

0.00

Year 7

0.50

0.00

Year 8 and subsequent years

0.00

0.00

All other funds
(Bond, Dividend, Asset Allocation, Balanced, Equity Funds and Manulife Dollar-Cost Averaging Program)

Year 1

5.50

2.50

N/A

Year 2

5.00

2.00

Year 3

5.00

1.50

Year 4

4.00

0.00

Year 5

4.00

0.00

Year 6

3.00

0.00

Year 7

2.00

0.00

Year 8 and subsequent years

0.00

0.00

Notes:

  • Moving money between sales charge options is a sell/buy and must be considered carefully.
  • F‑class is only available for fee‑based programs where contracts are held in Nominee or Intermediary Name.

1 Elite Pricing deposits of $1,000,000 or more receive a reduced MER. Minimum investment amounts for Elite Pricing can be met by combining investments in certain situations. 2 Withdrawals and fund switches may result in tax consequences. 3 In the province of Quebec, a successor owner is known as a subrogated policyholder.

The Manufacturers Life Insurance Company (Manulife) is the issuer of insurance contracts containing Manulife segregated funds and the guarantor of any guarantee provisions therein.

This is a quick reference guide only. For full contract provisions, refer to the product’s Information Folder, Contract & Fund Facts.


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