Life and Health Insurance

Simplified procedures in New business for individual insurance

With the objective of always providing you with better service, we have simplified our procedures in order to accelerate the handling of your New Business files. These new procedures are effective immediately.

Re-dating a policy without any changes

The option to ″re-date a policy without any changes″ is now available with the mailing of any policy that includes an Amendment to the Application (amendment with signature) or a Declaration of insurability. This option will be displayed on the document, as follows:

I (We) request that the “Policy date” be modified to the signature date of this present document. When the document is signed on the 29^th, 30^th or 31^st, the “Policy date” will be the 28^th day of the month. When this date affects the age that was used for purpose of premium calculation, the “Policy date” will then be the day preceding the age change, in order to maintain the current premium.

By checking the box, the signature date of the document shall be considered as proof of the client’s authorization to change the policy date. Given that no changes were made to the policy, there is no need to return the issued policy. We will not reprint a new policy. Therefore, the advisor will make only one visit to his client.

Please note that the option to re-date a policy without any changes is only offered for new business. As such, this option is not available for an internal replacement, a coverage addition or a conversion.

Last settling requirement: Payment of the 1^st premium

If we have received the duly completed “Pre-authorized debit form” and the void cheque, we will immediately withdraw the 1^st premium from the client’s bank account.

THE NEW BUSINESS AND UNDERWRITING ADMINISTRATIVE GUIDE FOR MGA

The New Business and Underwriting administrative guide for MGAs has been reviewed and improved and includes the latest procedural changes. The updated document will be available on the secure website for advisors towards the end of October.