Individual Life Insurance: Premium rates decrease and
improvement of our market positioning
SSQ Financial Group is decreasing premiums to help you kick start the fall with improved market positioning in the industry!
Effective September 6, 2017, we lower our rates on our Term and Term Plus products for fixed and decreasing insurance amounts.
As a result, our overall positioning has improved and is amongst the best in most age groups.
The rate decrease applies to the following products: Terms | Average decrease | Term Plus 10* | 0.8% | Term Plus 20* | 1.5% | Term Plus 15 | No change, already an excellent positioning | Term Plus 25 | 1.5% | Term Plus 30 | 2% | Term Plus 35 | 3% | *Rate increase for isolated age brackets for Term Plus 10 and 20.
Terms | Average decrease | T10* | 0.8% | T20* | 1.5% |
*Rate increase for isolated age brackets for Term 10 and 20
For more information about our Term life insurance products, please consult the following documents:
Term Plus Products At a Glance
Term Life Products At a Glance
Transition rules
The changes take effect on September 6, 2017. In order to ensure a smooth transition, please review the following transition rules:
Application signed before September 6, 2017 | Application signed as of September 6, 2017 | For all applications signed before September 6, 2017 and received at SSQ on or before September 19, 2017, the lowest premium will apply.
For all applications received after September 19, new premium will apply. | For all applications signed on or after September 6, 2017, new premium will apply. |
Please note that no exceptions will be made.
New illustration software version 6.3
A new version of the illustration software (version 6.3) is now available with the new premium rates.
Thank you for your continued collaboration. Should you have any questions, please contact your SSQ representative or your regional sales office. |
