Life and Health Insurance

Did you know that SSQ offers your clients the option to pay their first premium by credit card?

We have offered your clients the option to pay their first premium by credit card for several years now. This represents an area where we have a distinct advantage, given that only few insurers offer this option. In order to continue to offer this flexibility, we have to limit the amount that can be paid by credit card.

Therefore, the following rules will take effect for every application signed as of January 25, 2016:

PAYMENT FREQUENCY UNIVERSAL LIFE INSURANCE OTHER INSURANCE PRODUCTS
(Term Plus, Term life, Permanent life and Critical illness)
Annual The amount payable by credit card is limited to 1/12th of the MINIMUM annual premium, subject to a maximum of $5,000. The amount payable by credit card is limited to 1/12th of the annual premium, subject to a maximum of $5,000.
Monthly The amount payable by credit card is limited to the first MINIMUM monthly premium, subject to a maximum of $5,000. The amount payable by credit card is limited to the first monthly premium, subject to a maximum of $5,000.


However for applications signed before January 25, 2016 and received at our offices by February 5, 2016, the current rules will still apply.

Please note that the first premium payment by credit card is offered for new business only.

We thank you for your usual collaboration. Should you have any questions, please contact your SSQ representative or your regional sales office.