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BMO Rate Change

Posted in BMO  ·    ·  (permalink)

 

Wave 23.0 is now available .  The new software has a rate increase for Level COI plans.

BMO will continue to accept wave 22.0 application as long as they are recieved at head office by January 6th,2012.  Applications recieved after January 6th will be issued with the new rates.

 

 

Sun LIfe: New Universal Life Rates Effective January 7th, 2012

Posted in Sun Life  ·    ·  (permalink)

Effective January 7, 2012 Sun Life Universal Life Level COI rates are increasing to align with the movements in the Canadian market.

Transition rules

The new rates are effective January 7, 2012, at 12:00 a.m. EST. No exceptions will be made. The old rates will no longer apply starting at this time.

Applications that Sun Life Financial’s New Business area receives before 11:59 p.m. EST on January 6, 2012, will be eligible for old rates if:

  • the policy or coverage is issued on or before April 6, 2012, and
  • the policy is placed within 42 days of issue.

Old rates will apply even if the illustration and application use the new rates.

 

Standard Life to Focus on Savings and Investment Activities

Posted in Standard Life  ·    ·  (permalink)

 Effective January 1 2012, Standard Life will no longer sell its line-up of individual life insurance and critical illness products. Applications received by December 31 2011 will be processed as usual.

Standard Life is committed to delivering the same level of service to you and their current policyholders. Standard Life will do their best to ensure that today’s announcement has as little impact as possible on your business as they still own the existing block of business after January 1 2012 and will continue to service it. Standard Life will still offer the possibility of increasing, adding coverage and converting these in-force policies.

This is a milestone in the strategy that started deploying in 2005. Standard Life will be focusing on activities in those areas of our business which have the best potential for sustainable growth – namely retail investments including Standard Life Mutual Funds, group savings and retirement plans and group benefits and disability management.

 

 

New Transamerica Software

Posted in Software, Transamerica  ·    ·  (permalink)

 New Transamerica Lifeview 9.0 software is now available for download.  This update includes:

  • New Level UL rates
  • LifeScripter tool now intergrated with Lifeview

Download the new software here

 

 

New DFS Fusion Software 14.3.0

Posted in Desjardins, Software  ·    ·  (permalink)

 

We wish to advise that the next Fusion update version 14.3.0, will be available for download on November 24th, 2011.  This update includes new product pricing.

You can download the new software from Webi or request a copy from adam.powell@audiscanada.com

Product Profile – Sun Life Child Critical Illness

Posted in Product Profile, Sun Life  ·    ·  (permalink)

  

Underwriting CI applications can be a challenge.  What better way to get a policy issued than applying for it when your child is still young and healthy.  Sun Life will now issue a CI policy on children as young as 30 days.

  Coverage:  From the date of issue the child plan includes the standard 24 covered group one conditions, and the usual partial benefits for Ductal Carcinoma in situ of the breast, Stage A Prostrate Cancer, Stage 1A Malignant Melanoma and Coronary Angioplasty (15% to a maximum of $50,000). The policy will also cover 2 additional group one conditions starting at age 18 with no additional charge; Acquired Brain Injury and Loss of Independent Existence.

  The childhood diseases which are covered until the child’s 24th birthday are Type 1 Diabetes, Congenital Heart Disease, Cerebral Palsy, Cystic Fibrosis and Muscular Dystrophy.

 The riders available are Return of Premium on Death (ROPD) and Return of Premium on Cancellation or Expiry (ROPC/E).  The return of premium on death is straight forward, but it is the return of premium on cancellation or expiry that makes this an interesting policy.

 Assuming there is no claim for a group one condition, the ROPC/E will automatically refund 75% of the returnable premium on the later of the 15th policy anniversary or the policy anniversary following the insured’s 25th birthday.  The client can continue to maintain the policy following the refund, including the ROPC/E rider.

 Should the client subsequently cancel the policy at any time on or after the later of the 30th policy anniversary or the policy anniversary following the insured’s 40th birthday 100% of the returnable premium will be paid to the policy owner.  The returnable premium is defined as all premiums paid minus any automatic return of premium amount paid.

 Example:  If your client purchased a $250,000 T75 policy on their son at age one and included ROPD and ROPC/E the annual premium would be $1,537.50.  The automatic ROP at the anniversary following the child’s 25th birthday would be $27,675, just in time to pay off his student loans (to the government or his parents!).

 If the client decided to surrender the policy at any time after age 40, 100% of paid premiums, minus the automatically refunded amount, will be returned.  If the policy was held to expiry, the refund at expiry would be $86,100.

 

Transamerica Increasing Level COI Rates

Posted in Transamerica  ·    ·  (permalink)

 

Effective November 28th, 2011 Level COI rates are increasing for all new WealthAdvantage and EstateAdvantage policies.  These incrases vary across age, gender and underwriting classifcation, with larger increases applied at younger ages and smaller increases at older ages.

 Click Here for Transition Rules

 

New RBC Software version 3.4

Posted in RBC, Software  ·    ·  (permalink)

RBC Illustrations Version 3.4 Now Available with Universal Life Sales Solutions

Great news! We at RBC Insurance® are excited to announce the launch of the next version of RBC Illustrations, available October 31, 2011. In this more comprehensive version of software, you’ll have access to three additional RBC Universal LifeTM sales solutions.

  • Estate Protector
  • Personal Estate Optimizer
  • Corporate Estate Optimizer

Read more about it.

Download Software Here

 

 

Empire Life Level COI Rate Increase

Posted in Empire Life  ·    ·  (permalink)

 Empire Life has  introduced new level cost of insurance rates for Trilogy and  Trilogy Plus. These changes have been in effect since after September 30, 2011.

This change will only impact the level cost of insurance option. The overall rate increase target was 3.5%, but our goal included reducing the variance of our competitive rank based on sex, age and smoker status.

Click Here for More information

 

 

RBC Insurance – 2012 Student Initiative Program – Available Now!

Posted in RBC  ·    ·  (permalink)

Don’t wait until graduation to approach students about their disability insurance needs. Get a head start today with the RBC Insurance® Student Initiative program! The 2012 program period will start on October 1, 2011 and run until September 30, 2012.

Read more about it.