Universal Life Insurance | Modifications to the investment options – June 2021
Submitted by Victoria on April 20, 2021 - 4:00pm
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PDF version | Universal Life Insurance - Changes to Investment Options |
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| We would like to announce that as of June 18, 2021, changes will be made to the investment accounts offered with universal life insurance. |
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| Removing and adding accounts |
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On June 18, 2021 , the Morgan Stanley Global Real Estate account will be closed and assets will be transferred to the new CI Global Real Estate account .
During the week of May 10 , clients with a balance in the Morgan Stanley Global Real Estate account will receive a letter regarding its closure. |
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| Please note that unless you or your client advises otherwise, by June 4, 2021 , the account balance will automatically be transferred to the CI Global Real Estate destination account . |
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| As of June 21, 2021 , in addition to the addition of the CI Global Real Estate account , the 100% Equity Strategy account will enhance our offering in order to better meet the needs of investors seeking returns linked to full exposure to the equity markets. . |
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| Below is a table of guaranteed annual fees depending on the version of the universal life insurance product your client owns. |
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UL = universal life insurance |
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| Strategy account managers |
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| We will add GQG Partners, a new manager, to the Strategy accounts . GQG Partners is an investment company specializing in foreign equity strategies. As of June 21, 2021, a portion of the foreign equities currently managed by Fiera Capital will therefore be managed by GQG Partners. |
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| Updating insurance proposals and forms |
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| Several changes have been made in the insurance proposals and forms. As of June 7, 2021 , you can refer to our secure advisor site to view and order them. |
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| As of June 21, 2021 , for all new signed proposals, only new versions (2021-05) will be accepted. |
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| Updating the illustration software |
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| Changes to the illustration software, including updating the library, will be made shortly. You will be informed of the new version of the illustration software in a future communication. |
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| If you have any questions, please contact your SSQ Insurance representative. |
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