GIF Select (original) - 75 Series
Product Name
GIF Select (original)
Series name
75 Series
Description
For contracts sold up to October 2, 2009
Product type
Segregated Fund Contract
Original Company
Manulife
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 |
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:
- Back-end and low-load sales charge options no longer allow new deposits, subsequent deposits, new PAC setups and switches in from other sales charges. Effective May 26, 2023, existing PACs in these sales charge options will move to Front-End (0% commission). Switches within the same sales charge option are permitted. Existing investments in back-end or low-load will remain and the existing sales charge schedule will apply to any withdrawals.
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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.