GIF Select (original) - 75 Series
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Product Name
GIF Select (original)
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Series name
75 Series
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Description
For contracts sold up to October 2, 2009
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Product type
Segregated Fund Contract
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Original Company
Manulife
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IncomePlus
Additional series offered under product
Product snapshot
Fund minimum |
$500 per fund per sales charge option $2,000 minimum for Manulife Dollar-Cost Averaging Program GIF Select $100,000 for Elite Pricing1 |
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Subsequent deposits |
Minimum $500 per fund per sales charge option $2,000 minimum for Manulife Dollar-Cost Averaging Program GIF Select Subsequent deposits equal to or exceeding $1,000,000 will be invested into the Elite option and receive a reduced MER Minimum investment amounts for Elite Pricing can be met by combining investments in certain situations |
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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. Contact head office. |
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Withdrawals2 |
Ad hoc: Minimum $500 per fund per sales charge option Scheduled: Minimum $100 a month per fund per sales charge option |
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Switches2 |
Ad hoc: Minimum $500 per fund per sales charge option Scheduled: Minimum $100 per fund per sales charge option Five free switches per year
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Age Limits |
Contract Types |
Latest Age to Deposit* |
Latest Age to Own* |
Non-registered, TFSA, LIF, RRIF, LRIF, PRIF, RLIF |
90 (For Front-end and Low-load Sales Charge options) 80 (For Back-end Sales Charge option) |
100 |
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RRSP, RLSP, LIRA |
71** |
71** |
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LIF (pension jurisdictions requiring annuitization at age 80) |
71 |
80 |
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Important disclosure
*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 |
Death Benefit Guarantee 75% of deposit value, reduced proportionally by withdrawals |
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Maturity guarantee |
75% of deposit 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 owner³ |
Non-Registered contracts only |
Joint Life Option |
No |
Fees
Management Expense Ratio (MER) |
MERs vary by Fund for more details visit Price and Performance. |
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Sales Charge Options (Premium Allocation 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. |
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Other Fees |
Charges may apply for certain transactions including withdrawals and Fund switches. For additional detail, refer to the Information Folder and Contract documentation. |
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Load Options |
Back-end load, Low-load, Front-end and Front-end Elite |
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Sales Charge Options % |
Fund category |
Redemption made during the first 7 years following the date of deposit | Redemption Fees – Back-end option | Redemption Fees – Low-load option |
Front-end option |
Front-end Elite pricing |
Money Market Fund (excludes a Dollar-Cost Averaging fund) |
Year 1 |
1.50 | 1.00 |
0.00 - 5.00 |
N/A |
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| Year 2 | 1.50 | 0.50 |
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| Year 3 | 1.50 |
0.50 |
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| Year 4 | 1.00 |
0.00 |
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| Year 5 | 1.00 | 0.00 |
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| Year 6 | 1.00 | 0.00 |
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| Year 7 | 0.50 | 0.00 |
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| Year 8 and subsequent years |
0.00 | 0.00 |
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All other funds (Bond, Dividend, Asset Allocation, Balanced, Equity funds and Dollar-Cost Averaging fund) |
Year 1 | 5.50 | 2.50 |
0.00 - 5.00 |
0.00 - 3.00 |
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| Year 2 | 5.00 | 2.00 |
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| Year 3 | 5.00 | 1.50 |
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| Year 4 | 4.00 | 0.00 |
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| Year 5 | 4.00 | 0.00 |
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| Year 6 | 3.00 | 0.00 |
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| Year 7 | 2.00 | 0.00 |
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| Year 8 and subsequent years |
0.00 | 0.00 |
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Notes:
- Moving money between sales charge options is a sell/buy and must be considered carefully.
Explore our segregated funds
Related materials
Regulatory materials
Important disclosure
1 Front-end 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.