Industrial Alliance with interesting rate adjustments

Industrial Alliance with interesting rate adjustments

Industrial Alliance has adjusted its rates for life insurance and single premium annuity products on March 25, 2013. Here are the specific changes:

1.Rate decrease for long term Pick A Term Insurance: Industrial Alliance has sharpened its competitive edge for terms T21 to T40 by offering an average 9% decrease. Along with this decrease there are attractive renewal rates to extend coverage for a few years. Unique term plans available to meet your needs. A level or a decreasing face amount available.

2. Premium Increase for permanent life insurance products: As interest rates remain much lower than anticipated, the rates on permanent insurance will be raised again to ensure the continuity of products that involve long-term commitments and guarantees for your clients. For all permanent and universal life insurance coverage, the average increase is 8% for all age groups.

3. Distinctive minimum premium for YRT insurance costs: The minimum costs for Yearly Renewable Term policies will have its own minimum cost different from the minimum premium for level costs.

4. Surrender values increase for permanent life insurance products: surrender values have gone up for universal life quick pay options and thus this make it very competitive.

5. Extra Premium decrease for clients with substandard risks: The extra premium is reduced. This will greatly benefit clients with substandard risks.

 

Created by: Aman Kapur

 

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Kumar S. ( Mississauga, On. March 2013)

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