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Additional deposit option (ADO) flexibility and term conversion to the iA PAR participating product.

After a difficult year in 2022, marked by inflationary pressures and geopolitical tensions, 2023 proved more constructive, thanks to robust government and consumer spending, which gave momentum to North American economies and financial markets. However, despite solid performances in asset classes over the last year, there are still many unanswered questions surrounding the world’s economies.

The iA PAR dividend scale interest rate increased from 6% to 6.25% on January 1. For full details of this increase, please refer to the November 10, 2023 article.

Your feedback is important to us: we have listened to your suggestions and improved our financial underwriting requirements to make it easier and quicker for your clients applying for life insurance over $5 million.

What are the changes?

Currently, an inspection report is required in all cases over $5,000,000, which may be time-consuming for both you and your clients. Our goal is to simplify the underwriting process and continue improving your client’s experience.

Advantages for you and your clients

• Simplify collection of financial information.
• Greater certainty about what financial information is required for underwriting.
• Reduced waiting times for underwriting decisions.
• Flexibility in how you can provide financial information for large, complex cases.

Updated documents

• Financial questionnaire (Q2A)
• Life insurance requirements grid (F13-166A-2)
• Field underwriting guide for representatives (F13-408A)
• Life insurance application (F101A)

We are pleased to announce an increase to the credited rate for the Smoothed Return Diversified Account (SRDA), which will increase to 3.55% on January 1, 2024 for Genesis 9 universal life insurance policies.

As of January 1, 2024, the EquiBuild Fund Declared Rate will be 5.5%.

Good news! The iA PAR dividend scale interest rate will increase from 6% to 6.25% starting  January 1, 2024. The illustration of the new rate in EVO will be available on November 15, 2023.

Your clients can learn through the real-life situations of three people from different backgrounds and get inspired to manage their finances better.