Life and Health Insurance

What’s new with Term life insurance

Stay tuned: Rate reductions on Term 20 life insurance products and new exchange program available soon!

 

RATE REDUCTIONS ON TERM 20 AND TERM PLUS 20

We are reducing rates on Term 20 and Term Plus 20 (with level insurance amount) products, effective February 24, 2015. Rate reductions apply to all insurance amounts for ages 35 to 55 (non-smoker and smoker, standard class).

The illustration software update will be released on February 24, 2015.

 

NEW TERM EXCHANGE PROGRAM

SSQ Financial Group is pleased to introduce its new Term Exchange Program.

This program provides your clients with additional flexibility by offering an affordable alternative to policy renewal or conversion. The exchange option will be available starting February 24, 2015.
 

Available exchange options:

• Term 10 to Term 20
• Term 10 to Term 70

Exchange program highlights:

• Available on or after the 1^st coverage anniversary and prior to the 5^th coverage anniversary of the Term 10 coverage (including Term 10 rider), provided that it was issued on or after January 1, 2011.
• A first year commission of 25% will be paid on the new Term 20 or Term 70 coverage.
• Applying is simple; the “Policy change without evidence of insurability” form (FIND0116A) must be completed and submitted before the 5^th anniversary of the Term 10 coverage.

 

Help your clients take advantage of the flexibility a term product has to offer!

For more details, please refer to the ”Term Exchange Program” document (MIND0157A).

Term Plus product is excluded from the exchange program.

 

For more information regarding these changes, please contact your SSQ representative.