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News By Category
Desjardins Rate Change on Permanent ProductsPosted in Desjardins · · (permalink)
In today’s low interest rate world, insurers have been obliged to raise rates on their permanent products. Although many insurers have removed or suspended the sale of certain products Desjardins Financial Security (DFS) wants to ensure that you can continue to offer a full range of life and health coverages to meet your clients’ needs.
Effective September 13th, 2012 Desjardins will increase rates on the following products:
- MaxLife (T100)
- Life 10
- Life 20
- Foundation (T100)
- Precision 10
- Percision 20
- Harmony Term to 100
- Harmony Executive
- Harmony Limited Pay 10
- Harmony Limited Pay 20
To ensure you get the old rates applications must be received at Desjardins head office on or before September 13th. A contract issued with the old rates must be settled within 40 days following approval.
Applications recieved on or after September 14th will recieve the new rates.
Sun Life Rate ChangePosted in Sun Life · · (permalink)
Effective September 17th, 2012 Sun Life is changing their level COI rate for Sun Life Universal Life and Sun Limited Pay Life products. In addition Sun is shifting these products to an age nearest pricing basis.
The last day of sale using the old rates and age last pricing will be September 21, 2012. Applications received after September 21st will receive the new pricing.
Changes to UL
- Increased level COI Rates
- New Age Nearest Pricing
- Guaranteed interest rates changed to:
- 5 Year – 0.50%
- 10 Year – 1.50%
- 20 Year – 1.50%
Changes to Critical Illness
- Moving to Age nearest pricing
- Increased T10, T75, T100, and Juvenile rates
- New lower face amounts of $25,000
BMO Rate ChangePosted in BMO · · (permalink)
Effective August 13th, 2012 BMO Insurance will be increasing Level COI rates on their Life Provider and Life Dimensions Universal Life Products. Any Applications received at BMO head office on or after August 13th, 2012 will receive the new rates.
Canada Life Rate Change on Level COIPosted in Canada Life · · (permalink)
The continuing low interest rate environment has caused Canadian insurers to re evaluate the pricing of their products with long term guarantees. As a result, Canada Life will be increasing Millennium Universal Life insurance Level and Limited Pay cost of insurance rates effective September 17, 2012.
Details about these changes, including transition rules will be communicated in late August.
IA Discountinuation of Best Doctors and Sigma Assistel ServicesPosted in Industrial Alliance · · (permalink)
As of December 1st, 2012 Industrial Alliance will no longer offer Best Doctors and Sigma Assistel to critical illness policy owners. For more than 10 years, these services have been offered free of charge to insureds with a face amount over $100,000.
These changes will apply to all new sales, as well to all inforce policies.
No communication will be sent to current clients.
Please stop promoting these services with your clients. Clients will be able to use these services until December 1st, 2012.