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Here is an overview of what's new this week
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HERE IS AN OVERVIEW OF
WHAT'S NEW THIS WEEK
 
Individual Insurance
 
Reminder - submit your applications for Total Protection and Golden Protection Deferred!
On September 13, 2021, we will introduce a number of changes to our Simplified Issue suite.

The new changes will include modifications to our Golden Protection, the introduction of Silver Protection, and the retirement of our Golden Protection Deferred and Total Protection products.

Please ensure that your applications are submitted in Lia before 6 p.m. (EST) Friday, September 10, 2021, no exceptions will be made.

For more details about our Simplified Issue changes, click here!
 
 
Lia update scheduled for Friday, September 10
Please note that your saved applications will be preserved so long as they are not part of the discontinued products mentioned above.

You will not be able to submit applications during the following period:

  • DATE: Friday, September 10    
  • TIME: 6 P.M. to Midnight (EST)

Following this update, you will be required to download Version 12 the next time you connect to the Lia application.
 
 
Coming Soon! New Lower Rates for FlexTerm
On September 13, we’ll introduce new rates allowing you to offer the same great products but with better premiums. These changes will apply to coverage amounts of $250,000 and over.

Average premium decrease for amounts ranging from $250,000 to $999,999:
  • T15 – average decrease of 10%
  • T20 – average decrease of 12%
  • T25 – average decrease of 7%

Transition rules for FlexTerm rates
The new rates will only apply to policies submitted in Lia starting September 13, 2021. Please note that the new rates cannot be applied to existing policies or to policies that have been submitted but not yet issued.
 
Investments and Retirement
 
 
CI Global Asset Management Rebrand and Fund Name Changes
In light of CI Global Asset Managements rebranding and renaming of some of their investments funds, Assumption Life has updated its documentation to reflect these changes. The updated documents are now available for download on our document center.

Documents include application forms, the Fund Facts booklet and various marketing and informational materials.
 
 
Click here for the press release with the full list of changes.

*Please be advised that, while we recommend using the most up to date application forms, Assumption life will continue to accept applications listing the old CI Fund names.
 
Group Insurance
 
Travel Insurance for COVID-19 Extended Indefinitely
We are pleased to inform you that we have prolonged the extension of the Travel Insurance for COVID-19 indefinitely. That means members who are insured under Assumption Life’s Travel insurance will benefit from coverage if they contract COVID-19 during their travels.

The emergency hospital and medical expenses relating to COVID-19 are subject to existing maximums and all terms, conditions and limitations of the policy.

Additionally, the members eligible to the travel insurance plan must comply with the following at the time of departure:

  • Have been symptom-free for at least 48 hours with COVID-19  
  • Have not received a positive test for COVID-19 or been in a period of self-isolation according to the rules issued by the government  
  • Are not awaiting results from a screening test  
  • Have not been in contact with a person that has received a positive COVID-19 diagnostic within 14 days of departure  

Please note that this information is also available to your clients on our assumption.ca website.
 
 
 
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Assomption Vie | Assumption Life, 770 rue Main St., C.P./P.O. Box 160, Moncton, NB E1C 8L1, Canada

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