Canada Life | Millennium Universal Life Insurance Changes Are On The Way
We’re making changes to our universal life insurance product, including rates, effective Sept. 17, 2012. Transition rules are also set to change.
Highlights of the changes
Canada Life’s Millennium universal life insurance
- Cost of insurance rates will increase for level and limited-pay options. Minimum guaranteed interest rates will be reduced on five and 10-year guaranteed interest options.
- Millennium account crediting interest rate will decrease.
- Monthly variable interest option (VIO) reports will be discontinued. VIO summary reports are maintained on a daily basis and link to individual VIO detail pages where information is easily accessible.
- LifeGuide® rates will change Sept 14. Users will be required to update software to proceed with rate comparisons.
Canada Life Concourse™ illustration software update
Zoom illustration software will be available on Sept 17.
For more details on the software and what’s changing
See the Canada Life Millennium universal life insurance changes and transition rules.
To assist with efficient processing of your applications, these underwriting tips should be followed.
Questions
If you have any questions about this change, please contact Pam Geer at 519-435-6925 or Pam_Geer@canadalife.com.