Life and Health Insurance

2017 Tax changes: a few comparative examples

What’s the difference between owning a contract governed under the current tax rules versus owning one governed under the new 2017 tax rules? Here is a new reference document with a few examples that highlights some of the differences, depending on the product.

Some comparative examples 2016/2017

REMINDER: ILLUSTRATION SOFTWARE VERSION 5.1 AND INSURANCE APPLICATION

Effective September 15, 2016, a new version of the illustration software will be released (version 5.1). This update will be mandatory and will include the following changes:

• Removal of the MULTI-LIFE universal life option

  There is no other change to our universal life offer and this product remains available.

  Term life insurance, critical illness insurance or a critical illness rider within a universal life contract cannot be offered if the coverage is for another insured, in the case of an individual policy, or if the policy is joint.

  For more details relating to the 2017 tax changes, please visit our dedicated web page!

• Marijuana users are now considered non-smokers

  The Preferred risks questionnaire (FIND0819A) has been updated.

• Updated universal life investment account fact sheets

• Update of the universal life investor profile

  As announced in June, minor modifications were made to manager and asset class allocations of the Strategy managed accounts. This has no impact on the guaranteed annual fees. Investment objectives, target clientele and risk profile of each account remain the same.

The insurance application (FIND0035A) will be updated in January 2017. We will continue distributing the current version of the insurance application until then. Please continue using these applications keeping in mind the changes that will be allowed on universal life as of September 15, 2016.