In this bulletin, you will find a description of the changes made for the summer of 2017.
Your Strategis illustration software will be automatically updated on Wednesday, June 28, 2017 when it is launched.
You can also go on the Brokers section of the La Capitale website. Click on “Download the illustration software”.
If you experience problems during installation, call 1 866 268-9061.
Rating – Adjustments
- Fixed term insurance products
- 15-, 20- and 30-year Decreasing Term insurance
- Term riders
- Non-participating Permanent Advantage payable for life
- Simplified Advantage
- Increase in the surrender value of the Advantage product payable over 20 years and slight premium increase.
- Rate decrease for the Regular Occupation Extension rider of the regular Pillar Series
- Rate increase for Income Protection of the regular Pillar Series, applicable to new contracts only.
Note that La Capitale remains a leader in the industry with regard to its competitive disability products.
We are relaxing the eligibility rules and improving certain occupation classes.
Please refer to the occupation guide for more details.
La Capitale Client Promotion
For a limited time, your eligible Quebec public service employee clients will receive a reimbursement of $175 (instead of $100).
To find out more about this promotion and the eligibility conditions, follow this link:
La Capitale Client Promotion Fact Sheet
Ensure that you have correctly completed the form so that your clients can take full advantage of this promotion.
La Capitale Client Promotion application
Links to documentation in the illustration software
Good news! Links to the website have been added to the Strategis illustration software home page. The documentation can now be updated in real time. See below for the links:
Note that fact sheets and financial tools are still available in the illustration software.
Quotes in Strategis
In accordance with new fiscal laws coming into effect on January 1, 2017, we have modified the following question for quotes:
Addition to existing policy?
Addition to policy issued in 2017 and +?
The goal of this change is to remind you that can’t make additions to contracts issued before 2017.
The provincial government of Saskatchewan recently announced a new sales tax of 6% on insurance premiums payable as of August 1, 2017.
- Permanent life insurance policies, including Universal Life, that were issued before August 1, 2017 (including future premiums for these policies) are not taxable.
- Riders attached to permanent life insurance policies including Universal Life, issued before August 1, 2017, are not taxable.
To this end, a note about the new sales tax has been added to the first section of the illustration.
Note that we are currently working on updates to our systems and documents to correctly process this new sales tax.
Rates in effect
The new rates will be in effect as of June 28, 2017 when your Strategis illustration software is updated. Note that any application signed before June 28, 2017, and received at the La Capitale office before July 12, 2017, will be approved based on the previous rates.
For more information on our products or our product illustration software, contact us!
La Capitale Insurance and Financial Services Broker Channel