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News By Category
RBC Lowers Term Rates and Increases CompensationPosted in RBC, Software · · (permalink)
New Term 10 & Term 20 Rates now available with RBC.
The new pricing makes RBC more competitive than ever. In addition RBC has permanently increased their FYC on Term 10 and Term 20 by 5%.
The Software (version 5.0) is now available (Click Here)
Empire Life Simple Quote now available for the iPhonePosted in Empire Life, Software · · (permalink)
Empire Life is working hard to simplify your work life and create innovative products and easy to use tools.
Empire Life is pleased to announce the release of SimpleQuotes for the iPhone. SimpleQuote is smart enough to provide fast, easy to understand illustrations for the Solution Series of products anytime, anywhere without an Internet connection. SimpleQuote will show you the issue premium, renewal premiums, and underwriting requirements right on your iPhone.
Since being launched on the iPad, the SimpleQuote System has had astounding success:
- Ranked # 1 among top life insurance iPad apps, including apps from major brands across North America and Internationally.
- Ranked # 5 on the Top 10 “What’s Hot!” list on iTunes for financial apps.
Want to learn more about SimpleQuote for the iPhone?
Check out this detailed information page
Important Changes to RBC Insurance Product PortfolioPosted in RBC, Software · · (permalink)
Effective June 23, 2012 RBC Insurance will suspend new sales of the following products:
- Term 100
- RBC Universal Life
- Long Term Care Insurance
- Critical Illness Recovery Plan T100
- Critical Illness Recovery Plan Term 75 paid up at 65
- Critical Illness Recovery Plan – Return of Premium on Surrender/Expiry Riders
The above products remain available in the RBC Insurance product portfolio for conversion only.
RBC Insurance Product Offering as of June 23, 2012
RBC will continue to offer the following products
- Term 10
- Term 20
- The Professional Series DI
- The Foundation Series DI
- The Bridge Series DI
- Critical Illness Term 10
- Critical Illness Term 65
- Critical Illness Term 75
- Wealth Solution Products
New Business Applications received after June 22, 2012
- As the above noted products are being suspended effective June 23, 2012, any application for any of the above products received after June 22, 2012 will be returned to you.
Re Price of Life Conversion Products
- Effective June 23, 2012, Level Cost of Insurance (Level COI) rates for T100 and RBC Unviersal Life will be increasing in keeping with recent pricing movement in the marketplace
- Effective June 23, 2012, RBC will reduce the FYC paid on conversions to RBC universal Life from 60% to 55%
RBC Illustration Software
A new version of the RBC illustration software (version 4.0) will be available for download on June 23, 2012. The updated software can be downloaded below:
Launch of SSQ Financial GroupPosted in AXA, Software, SSQ LIfe · · (permalink)
Following the acquisition of AXA Life Insurance Inc., SSQ Financial Group is pleased and proud to be launching SSQ Insurance today.
- Rate reduction on Term and Loan Insurance Products
- First Year commission increased
- New all in one application
- new SSQ illustration software – SSQ 1.0
- The SSQ Merit Plan
Updated Marketing Material and software can be download here:
Empire Life Level COI ChangePosted in Empire Life, Software · · (permalink)
Empire Life will be making changes to the following permanent plans. These changes will take effect February 21, 2012.
Solution 100 and 20 Pay Solution
- New rate increase
Trilogy and Trilogy Plus
- Rate increase will be introduced for level COI only
- Withdrawal of the Level Plus Return of Premium sum insured option
- No change to the 10 and 20 year minimum rate guarantee
Increase to Joint Last to Die Single Equivalent Age (SEA) calculations
- Age calculation will increase the SEA on JLTD plans be either 1 or 2 years.
Impact of Rate Increase
- Solution 100 7.9%
- 20 Pay Solution 14.0%
- Trilogy Level COI 8.3%
- Applications received in Head office after February 21, 2012 will be set up using the new plan rates and structures.
- All Pending “in the mill” business that is in Head Office on February 21,2012 will be eligible for the existing plan/rate structures. These cases MUST be settled by April 30, 2012
2012 Sun Life Dividend ScalePosted in Software, Sun Life · · (permalink)
At the December board meeting, the Board of Directors of Sun Life Assurance Company of Canada (‘Sun Life”) approved a recommendation to decrease the dividend scale for most participating policies issued by Sun Life Financial.
This dividend scale will be in effect from April.01, 2012 to March 31, 2013.
- The 2012 dividend scale interest rate* will decrease by 25 basis points (bps), resulting in a new dividend scale interest rate of 7.15%
- The dividend on deposit rate will be 3.75%, except for RRSP policies and Bermuda policies with a variable loan clause.
Sun Par Protector and Sun Par Accumulator continue to be very competitive product offerings, providing clients with lifetime protection. In many cases, our competitive positioning has improved despite this modest dividend scale decrease as several other carriers have announced their own dividend scale reductions.
- The 2012 dividend scale interest rate* will decrease by 25 bps, resulting in a new dividend interest rate of 7.15%
- On average Sun Par Protector and Sun Par Accumulator will see a decrease of approximately 3% in their annual dividend with the 2012 dividend scale.
- The dividend on deposit rate will decrease by 25 bps to a rate of 3.75%
New software reflecting these changes will be available January 27, 2012.
*The dividend scale interest rate is nor the portfolio yield of the Sun Life Participating account. The rate is based on the portfolio yield and is used in calculating the dividend scale. The dividend scale interest rate is only one component of many that are used to calculate the dividend scale that is applicable to a specific policy. Other factors include mortality, expenses and lapse experience.
New IA Excellence SoftwarePosted in IA Excellence, Software · · (permalink)
Effective January 1, 2012, the premium rates for IA Excellence Whole Life insurance products will increase. This increase has been made necessary by recent economic circumstances and, more specifically, by lower interest rates. The products affected by the rate increase are 10 year, 15 year, and 20 year paid up products as well as the payable to 100 product.
New Transamerica SoftwarePosted 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
New DFS Fusion Software 14.3.0Posted 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 email@example.com
New RBC Software version 3.4Posted 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