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POLICIES AND PROCEDURES GUIDE
INDIVIDUAL LIFE INSURANCE
The application of contractual provisions prevails over the application
of the policies and procedures outlined in this guide.
REQUIRED SIGNATURES – MISCELLANEOUS TRANSACTIONS ................................................. 4
REQUIRED SIGNATURE - PAC WITHDRAWALS AND DIRECT DEPOSITS .................................... 7
TRANSACTION FEES ............................................................................................................... 8
CLIENT – TITLE CHANGES (Non-Financial)............................................................................... 9
Address ............................................................................................................................................................................... 9
Assignment for Collateral.................................................................................................................................................. 10
Beneficiary - / Trustee for a beneficiary ........................................................................................................................... 12
Contingent Policyowner Change ....................................................................................................................................... 16
Name Correction/Change ................................................................................................................................................. 18
Policyowner Change.......................................................................................................................................................... 20
Release of Assignment ...................................................................................................................................................... 23
CHANGES TO THE POLICY OR COVERAGE ............................................................................. 24
Addition of a Child to an Existing Child Module or Rider .................................................................................................. 24
Addition of Coverage and/or Additional Benefits............................................................................................................. 25
Addition of GPR – A3 and A4 Modules (Guaranteed Premium Rider).............................................................................. 27
Cancellation/Reduction of Coverage and/or Additional Benefits .................................................................................... 29
Change from Joint Last to Die to Individual Life ............................................................................................................... 31
Change in Type of Coverage (Within 13 Months of the Issue Date)................................................................................. 32
Conversion of a Term Coverage ........................................................................................................................................ 36
Date of Birth - Correction.................................................................................................................................................. 39
Death Benefit (Universal Life) ........................................................................................................................................... 41
Dissociation ....................................................................................................................................................................... 43
Dissolution of a Joint First to Die Coverage ...................................................................................................................... 46
Dividend Option: Other than Additional Insurance .......................................................................................................... 48
Dividend Option: Additional Insurance ............................................................................................................................. 49
Exercise the Guaranteed Insurability (GI) Benefit ............................................................................................................ 50
Cost of Insurance from YRT to Level (Universal Life) ........................................................................................................ 52
Tobacco Status (Non-Smoker) / Non-Smoker Bonus ........................................................................................................ 54
Duplicate Policy ................................................................................................................................................................. 57
Policy Summary ................................................................................................................................................................. 59
Reduced Paid-Up Insurance – Traditional Policy .............................................................................................................. 60
Reinstatement of a Policy Not Placed ............................................................................................................................... 62
Reinstatement................................................................................................................................................................... 65
Extra Premium/Exclusion (Revision) ................................................................................................................................. 68
Risk Class (Preferred/Elite)................................................................................................................................................ 70
Survivorship Option .......................................................................................................................................................... 72
DISBURSEMENTS/CANCELLATIONS ...................................................................................... 74
Coupons - Withdrawal (Debentures Plan) ........................................................................................................................ 74
Dividends on Deposit - Withdrawal .................................................................................................................................. 76
Future Premiums on Deposit (FPD) - Withdrawal ............................................................................................................ 78
Loan – Investor Plus .......................................................................................................................................................... 80
Loan – IRIS Investment...................................................................................................................................................... 82
Loan ................................................................................................................................................................................... 84
Partial Withdrawal – Universal Life................................................................................................................................... 86
Premium Credit – Coverage for a Mortgage Loan ............................................................................................................ 88
Surrender/Cancellation – Traditional Policy ..................................................................................................................... 89
Surrender / Cancellation – Universal Life Policy ............................................................................................................... 92
GENERAL INFORMATION ..................................................................................................... 95
Acceptable Methods for the Payment of a Premium ....................................................................................................... 95
Client Complaint................................................................................................................................................................ 96
General Inquiries ............................................................................................................................................................... 97
Index Account Management – Deposits / PAC ................................................................................................................. 98
Returned Mail “Unknown Address”................................................................................................................................ 101
Signature Requirements ................................................................................................................................................. 102
INVESTMENT TRANSACTIONS .............................................................................................103
Additional Deposits (Universal Life) ................................................................................................................................ 103
Automatic Investment Instructions (AII) - Change.......................................................................................................... 105
Designated Deduction Accounts (DDA) - Change ........................................................................................................... 106
Investment Accounts ...................................................................................................................................................... 108
Investment Transfer of Funds (U.L.) ............................................................................................................................... 109
Limited Trading Authorization (LTA) ............................................................................................................................... 111
Rebalance Accounts ........................................................................................................................................................ 113
Policy Delivery (Placement & Non Placement) ....................................................................115
Policy Delivery Instructions ............................................................................................................................................. 115
Receipt for Delivery of Contract - Contract Accepted & Returned for Modification...................................................... 118
Receipt for Delivery of Contract - Contract Accepted .................................................................................................... 120
Receipt for Delivery of Contract - Contract Refused by Applicant(s) ............................................................................. 122
Pre-Authorized Cheque Withdrawal (PAC) & Premiums .....................................................124
Mode of Payment to Annual, Semi-Annual or Quarterly................................................................................................ 124
Group List Bill .................................................................................................................................................................. 126
Modes of Payment and Billing ........................................................................................................................................ 128
PAC – Change of Banking Information - New Account Holder ....................................................................................... 129
PAC – Change of Banking Information - Same Account Holder ...................................................................................... 131
PAC – Combine / Divide the PAC Group ......................................................................................................................... 133
PAC – Loan Reimbursement............................................................................................................................................ 135
PAC – Postpone a Withdrawal ........................................................................................................................................ 136
PAC – Withdrawal Day .................................................................................................................................................... 138
Mode of Payment to Monthly Pre-authorized Cheque Payments (PAC) ....................................................................... 140
Premium Calculation Factors (Modal Factors)................................................................................................................ 142
Premium Holiday (Universal Life Policy) ......................................................................................................................... 143
Returned PAC – NSF ........................................................................................................................................................ 144
Returned PAC – NSF, Stop Payment, Account Closed, Account Holder Deceased, Other Reasons ............................... 146
Returned PAC – Payment Returned of Deposit with Application ................................................................................... 148
Returned PAC – Returned Item Within 2 Months of Policy Effective Date .................................................................... 150
Target Premium (U.L.) ..................................................................................................................................................... 152
Premiums paid in advance .............................................................................................................................................. 154
Individual Life Insurance
Page 3
For any inquiries and/or comments, please contact us at 1 844 4IA-INFO.
June 2017
REQUIRED SIGNATURES – MISCELLANEOUS TRANSACTIONS
Modification/Transaction
Addition of a child to an existing Child Module
Addition of Coverage and/or Additional Benefits
Addition of GPR – A3 & A4 Modules (Guaranteed
Premium Rider)
Additional Deposits
Address
Beneficiary
Beneficiary - Critical Illness
Beneficiary of the Accumulation Fund (UL)
Cancellation /Reduction of Coverage and/or
Additional Benefits
Change in Automatic Investment Instructions (AII)
Change in Designated Deduction Accounts (DDA)
Change in Type of Coverage
Contingent Beneficiary - Trustee for Beneficiary
Conversion – Partial: cancellation of the remaining
insurance
Conversion – Partial: keeping the remaining
insurance in force.
Conversion – Total
Cost of Insurance from YRT to Level (UL)
Date of Birth (Correction)
Death Benefit (Universal Life)
Decrease in Coverage – Home Protection/Lump
Sum Payment
Delivery Receipt - Contract Accepted
Delivery Receipt - Contract Accepted and Returned
for Modification
Policyowner(1)(2)
Policyowner
Person to be
or Agent +
Insured(4)
(3)
LTA
Yes
Account
Holder
(Payor)
Irrevocable
Beneficiary
Assignee
Agent
Other
signatures
Yes
Yes
See section
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
See section
Yes
Yes
See section
See section
Yes
Yes
Yes
Yes
Yes
See section
See section
Yes
See section
See section
Yes
Yes
Yes
Yes
See section
See section
See section
Yes
See section
See section
See section
See section
Yes
Yes
Yes
Yes
See section
Yes
See section
Yes
Modification/Transaction
Policyowner(1)(2)
Delivery Receipt - Contract Refusal
Dissociation
Dissolution of a Joint First to Die Coverage
Dividend Option: Additional Insurance
Dividend Option: Other than Additional Insurance
Duplicate Policy
Exercise the Guaranteed Insurability (GI)
Extra Premium/Exclusion (Revision)
Group List Bill
Investor Plus Loan
IRIS Investment Loan
Limited Trading Authorization (LTA)
Loan
Loan Repayment
Mode of Payment to Annual, Semi-Annual or
Quarterly
Mode of Payment to Monthly Pre-authorized Cheque
Payments (PAC)
Name Correction/Change
PAC – Change of Banking Information – New
Account Holder
PAC - Change of Banking Information - Same
Account Holder
PAC – Postpone Withdrawal
PAC – Stop Withdrawal
PAC - Withdrawal Day
PAC -Combine/Divide the PAC Group
Partial Withdrawal – Traditional policy
Partial Withdrawal – Universal Life policy
Policyowner
Policyowner - Contingent
Rebalance Accounts
Reduced Paid-Up Insurance (Traditional Policy)
See section
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Individual Life Insurance
Page 5
Policyowner
Person to be
or Agent +
Insured(4)
LTA(3)
Account
Holder
(Payor)
Irrevocable
Beneficiary
Assignee
Yes
Yes
Yes
Yes
Agent
Other
signatures
See section
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
See table
Yes
Yes
Yes
See section
See section
See section
Yes
See section
See table
See section
See table
See table
Yes
See table
See table
See table
See table
See table
Yes
See table
See section
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
See section
Yes
For any inquiries and/or comments, please contact us at 1 844 4IA-INFO.
June 2017
See section
Modification/Transaction
Reinstatement
Reinstatement - Policy Not Placed
Release of Assignment
Risk Class (Preferred/Elite)
Surrender/Cancellation – Traditional policy
Surrender/Cancellation – Universal Life policy
Target Premium
Tobacco Status (Non-smoker) Non-smoker Bonus
Transfer Funds (Universal Life)
Withdrawal of Coupons (Debentures Plan)
Withdrawal of Dividends on Deposit
Policyowner(1)(2)
Policyowner
Person to be
or Agent +
Insured(4)
LTA(3)
Yes
Yes
See section
See section
Yes
Yes
Yes
Yes
Account
Holder
(Payor)
Irrevocable
Beneficiary
Assignee
Agent
Other
signatures
See section
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
See section
Yes
Yes
(1) If the ownership of the policy is joint, the signature of all the policyowners is required.
(2) If the policyowner is a company, the signature of an authorized person AND a copy of the company’s resolution designating the authorized signatories are required.
(3) Limited Trading Authorization.
(4) Person authorized to sign if aged 16 or more.
Back
Individual Life Insurance
Page 6
For any inquiries and/or comments, please contact us at 1 844 4IA-INFO.
June 2017
REQUIRED SIGNATURE - PAC
WITHDRAWALS AND DIRECT DEPOSITS
Changes to the Monthly Pre-Authorized Cheque Payments (PAC)
Mode of payment to PAC
Change of banking information with
a change of account holder
Change of banking information
without a change of account holder
Personalized cheque specimen
Non-personalized cheque specimen
Banking information confirmation
from the financial institution
Written banking information
Personalized cheque specimen
Non-personalized cheque specimen
Banking information confirmation
from the financial institution
Written banking information
Personalized cheque specimen
Non-personalized cheque specimen
Banking information confirmation
from the financial institution
Written banking information
Change of withdrawal day
Change of target premium and/or amount for the reimbursement of the loan
Postponed PAC
Premium holiday
Direct Deposit
Direct deposit / Electronic Funds
Transfer
Personalized cheque specimen
Banking information confirmation from
the financial institution
Non-personalized cheque specimen
Written banking information
Signature of the
Account Holder
and/or
Policyowner( 1)(2)
Yes
Yes
No
No
No
No
No
Signature of the
Policyowner(2)(3)
Yes
Refused
(1) The account holder must be clearly connected to the policyowner and/or life to be insured.
(2) If the account holder and/or the policyowner are a company, the signature of an authorized person and a copy of
the company’s resolution designating the authorized signatories are required.
(3) The account holder must be the same person as the policyowner (the borrower in the case of a loan for investment).
Back
TRANSACTION FEES
Individual Life Insurance
Addition of an insured on a joint policy
Cancellation/Reduction of coverage
Change of plan (no fee during the first 3 months following issue)
Cheque or withdrawal returned for insufficient funds
Cheque or withdrawal returned for any other reason of return
Cost of insurance from YRT to level (change)
Dissociation, dissolution (other than children)
Duplicate endorsement – Policy Modification
Duplicate contract
Duplicate for contract issue less than 60 days
History of loans/premiums
Individual life to joint last to die insurance (change)
Joint last to die to individual insurance (change)
Loan
Partial withdrawal
Reinstatement
Risk class (change)
Surrender of policy
Tobacco status (change to non-smoker (1-5 yrs))
 No fees for the Non-Smoker Bonus
Traditional
Life
N/A
N/A
$50
$25
N/A
N/A
$50
$20
$50
S/O
$50/hour
N/A
N/A
N/A
N/A
N/A
$50
N/A
$50
Universal
Life
$500
$25
$50
$25
$25
$25
$50
$20
$50
S/O
$50/hour
$500
$500
$25
$25
$25
$50
$25
$50
Access to information
For an access to information request under Bill 68, the Legal Department charges the following fees:
$10 for a specific document
$35 for a complete file
Multiple transaction fees
Transaction fees are calculated per policy and not per insured.
If several changes are processed within the same policy, the highest fee is charged, unless there is also an addition
of coverage or benefit, then all transaction fees will be waived.
If the same change is processed on several policies, a transaction fee is charged for each policy.
Last Revision Date
June 2017
Back
Individual Life Insurance
Page 8
For any inquiries and/or comments, please contact us at 1 844 4IA-INFO.
June 2017
CLIENT – TITLE CHANGES (Non-Financial)
Address
General Information
Any connected policies by way of “client record”, will automatically be updated, unless a policy number
is specified to be excluded.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-11- Change of Address OR
F10-305A – Request for Change of Client Information
Acceptable Means for Submitting the Request
Request by email, fax, written request or by telephone.
Signature(s) Required
None
Fee(s)
None
Effective Date of Transaction
Upon receipt of the request at your Service Centre, unless otherwise specified.
Acknowledgement of Transaction
None
Last Revision Date
December 2016
Back
Individual Life Insurance
Page 9
For any inquiries and/or comments, please contact us at 1 844 4IA-INFO.
June 2017
Assignment for Collateral
General Information
Multiple collateral assignments for specified amounts may be permitted as long as the total assigned
amount does not exceed the death benefit.
An assignment may not be made on a registered contract.
The policyowner and the current beneficiary retain their rights to any benefits beyond the debt owed.
Contract may not be collaterally assigned if the policy is under seizure or bankruptcy.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F5A - Beneficiary, Trustee, Assignment for Collateral, Name Correction OR
Collateral Assignment – Legal Agreement or Financial Institution form (with applicable signatures).
Please also provide the following form (s), if applicable:
Bankruptcy / Seizure: provide the necessary documents to release the bankruptcy / seizure.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
The irrevocable/preferred beneficiary’s signature is required, if applicable. If the person is deceased,
the death certificate must be provided.
Fee(s)
None
Effective Date of Transaction
Date signed (the Company is not responsible for the validity of any other transactions processed
between the date signed and the date received).
Acknowledgement of Transaction
A legal designation rider will be sent directly to the client with a copy on imaging. No confirmation or
copy of the rider will be sent to the agent of record.
Individual Life Insurance
Page 10
For any inquiries and/or comments, please contact us at 1 844 4IA-INFO.
June 2017
Registered & Recorded copy of Assignment to Assignee (other than when submitted using a F5A).
Last Revision Date
June 2017
Back
Individual Life Insurance
Page 11
For any inquiries and/or comments, please contact us at 1 844 4IA-INFO.
June 2017
Beneficiary - / Trustee for a beneficiary
General Information
If an insured has more than one coverage on the same contract, only one Change of Beneficiary form
is required for each coverage.
The Beneficiary may not be changed if the policy is under bankruptcy.
Appointment of an irrevocable beneficiary revokes any existing Limited Trading Authorization (LTA).
Percentage and Share
It is important to indicate each beneficiary’s percentage and ensure that the sum of the shares total
100% (the percentages indicated with decimal amounts are not accepted). If no percentage indicated,
then the designation is deemed to be “Joint Beneficiary”.
There are no rights of survivorship for multiple beneficiaries (the deceased beneficiary’s share reverts
to the insured’s Estate), unless designated as “Joint Beneficiaries”.
Example of a “Multiple Beneficiary”:
Paul is a 50% beneficiary and Henry is beneficiary of the other 50%. If Henry predeceases the insured,
Paul will receive 50% and the other 50% will go to the insured’s Estate.
Example of a “Joint Beneficiary”:
John and Julian are named as “Joint Beneficiaries”. If at the insured’s death, Julian is deceased, John will
receive 100% of the amount payable at death.
Beneficiary Class
A beneficiary may be designated as revocable or irrevocable.
Revocable: The beneficiary can be changed at any time without his/her consent.
Irrevocable: An irrevocable beneficiary cannot be changed without the beneficiary’s consent (or proof
of death if deceased). The beneficiary’s consent is also required to perform several transactions, such
as surrender, assignment or payment of an early death benefit.
Ordinary: The beneficiary may be changed at any time without his/her consent.
Preferred: The beneficiary can be changed to another preferred beneficiary without the beneficiary’s
consent (except in Quebec as of October 20, 1977 since the preferred beneficiaries have automatically
been changed to irrevocable), but it cannot be changed to an ordinary beneficiary (proof of death
required if deceased). The preferred beneficiary’s consent is also required to perform several
transactions, such as disbursements, reduction in coverage, assignment or payment of an early death
benefit.
Individual Life Insurance
Page 12
For any inquiries and/or comments, please contact us at 1 844 4IA-INFO.
June 2017
PROVINCE
DATE
QC
< 20-10-1976
QC
< 20-10-1976
QC
QC
QC
QC
Other Provinces
 20-10-1976
 20-10-1976
 20-10-1976
 20-10-1976
< 01-07-1962
Other provinces
< 01-07-1962
Other provinces
Other provinces
Other provinces
> 01-07-1962
> 01-07-1962
> 01-07-1962
RELATIONSHIP
RULE
Policyowner’s wife, children and Considered to be irrevocable
finacee.
on 20-10-1977
Others
Considered to be revocable
on 20-10-1977
All
If stated
All
If stated
Husband - Wife
Automatic if not stated
Others
Automatic if not stated
Husband - wife, children,
Preferred
grandchildren, father and mother
of the life insured.
Other than husband - wife, Ordinary
children, grandchildren, father and
mother of the life insured.
All
If stated
All
If stated
All
Automatic if not stated
CLASS
Preferred
Ordinary
Irrevocable
Revocable
Irrevocable
Revocable
Preferred
Ordinary
Irrevocable
Revocable
Revocable
Legal Heirs or Estate
When the above designations are used, the death benefit will be included in the deceased insured’s
Estate.
Such a designation is always revocable.
On a third-party contract, "Legal Heirs" means the Legal Heirs of the insured, in all cases.
An insured whose beneficiary is “Legal Heirs” or “Estate” should have testamentary provisions
regarding his/her insurance contracts.
The provisions provided in a will are always revocable.
In the absence of a will, please refer to the provincial succession laws of the respective province.
Minor Beneficiary
A trustee should always be designated for a minor beneficiary (see the Designation of a Trustee for
a Beneficiary section).
If a policy is issued with an irrevocable minor beneficiary, it is “frozen”, which means that no change
in beneficiary can be made and no cash disbursements or deletion/reduction of coverage/benefits can
be accepted until the beneficiary reaches age of maturity, in their respective province (varies from
province to province), even if a Trustee has been appointed.
According to the Civil Code in Quebec, the surviving parent is automatically designated as the
guardian for minor children. This provision does not apply in the other provinces. However, this still
does not give the guardian the right to proceed with such transactions.
A change of beneficiary cancels the trustee who had been appointed earlier.
If the designated beneficiary is the guardian, the guardianship papers are required.
Designation of a Trustee for a Beneficiary
In all provinces, except Quebec, a trustee can be designated using our forms. See form F5A.
In Quebec, a trustee for a minor beneficiary or a beneficiary who does not have the legal capacities
necessary to provide release must be designated in a trust deed through a legal advisor. The sole
designation of a trustee using our forms is therefore invalid.
Individual Life Insurance
Page 13
For any inquiries and/or comments, please contact us at 1 844 4IA-INFO.
June 2017
Divorce
Since December 1, 1982, in Quebec, an irrevocable divorce judgement or a marriage annulment cancels
any designation of the spouse as beneficiary or contingent policyowner. In order for the spouse to remain
the beneficiary after a divorce, a new beneficiary designation must be made.
Since June 1, 1986, in Quebec, a divorce takes effect on the 31st day following the divorce. After that
time, a decree of divorce is remitted to any individual who requests one, and this document and the
accessory (legal document) are required for changing the irrevocable spouse beneficiary or for any
transaction involving the signature of the irrevocable spouse beneficiary.
If no contingent beneficiary is named in cases where the primary beneficiary loses his/her rights (death,
divorce), these rights revert to the applicant or, if deceased, to the applicant’s estate.
In the other provinces, a divorce that occurs after July 1, 1962 cancels the preferred class of a beneficiary
designation, which becomes revocable, but it does not result in the cancellation of a spouse’s status as
beneficiary or contingent policyowner.
A divorce judgment pronounced after December 1, 1982, cancels the designation of the spouse as
contingent policyowner (Quebec only).
Legal separation
Quebec only - Article 2459 C.C.Q.: “Separation from bed and board does not affect the rights of the
spouse, whether a beneficiary or a subrogated policyholder, but the court may declare them revocable or
lapsed when granting a separation.”
Beneficiary for Critical Illness
In addition to the beneficiary designation for the Critical Illness coverage, be sure to indicate a beneficiary in the
case of premium refund at death for the life insured and if applicable, the flexible refund during the insured’s
lifetime.
Beneficiary for funds (Universal policies)
For contracts in which it can be designated, the beneficiary of the accumulation fund and shuttle fund must be:
the Beneficiaries of Insured 1 or;
the policyowner or;
other(s).
If not designated, a revocable designation in favour of the beneficiary or beneficiaries of the insured 1 will apply.
Contingent beneficiary
A contingent beneficiary is the designated beneficiary to receive the insured amount in the event of death of the
primary beneficiary when the benefit becomes payable.
Creditors designated as beneficiary:
The designation of a creditor as beneficiary is not best way to proceed; it is preferable to do an assignment for
collateral security in favor of the creditor. That way, the amount paid out to the creditor will be the outstanding
debt amount and the remaining amount of the death benefit will go to the designated beneficiary.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the
duly signed F1EA form when required OR
Individual Life Insurance
Page 14
For any inquiries and/or comments, please contact us at 1 844 4IA-INFO.
June 2017
F5A - Beneficiary, Trustee, Assignment for Collateral, Name Correction
Please also provide the following form (s), if applicable:
LTA signed by the new irrevocable beneficiary is required.
Bankruptcy / Seizure: provide the necessary documents to release the bankruptcy / seizure.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
If applicable, the irrevocable/preferred beneficiary’s signature is required, If the person is deceased,
the death certificate must be provided.
Fee(s)
None
Effective Date of Transaction
Date signed (the Company is not responsible for the validity of any other transactions processed
between the date signed and the date received).
Acknowledgement of Transaction
A legal designation rider will be sent directly to the client with a copy on imaging. No confirmation or
copy of the rider will be sent to the agent of record.
Last Revision Date
June 2017
Back
Individual Life Insurance
Page 15
For any inquiries and/or comments, please contact us at 1 844 4IA-INFO.
June 2017
Contingent Policyowner Change
General Information
The designation of the contingent policyowner is always revocable.
It is possible to name « Legal heirs, Estate or Legal successors » as contingent beneficiaries.
If the newly designated contingent policyowner is a minor, when the policyowner dies, no transaction
may be made until the new policyowner is of legal age to do so according to the Law:
In Quebec: 18 years old
Other provinces: 16 years old.
A new contingent policyowner should be named in the following situations:
A Designation of Ownership (absolute assignment) cancels the contingent policyowner.
A divorce judgement, pronounced after December 1, 1982, cancels the designation of the
spouse as contingent policyowner (Quebec only).
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F30A - Designation of Ownership, Contingent Owner
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Fee(s)
None
Effective Date of Transaction
Upon the death of the current policyowner.
Acknowledgement of Transaction
A legal designation rider will be sent directly to the client with a copy on imaging. No confirmation or
copy of the rider will be sent to the agent of record.
Individual Life Insurance
Page 16
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June 2017
Last Revision Date
June 2017
Back
Individual Life Insurance
Page 17
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June 2017
Name Correction/Change
General Information
Supporting legal documents are required for a name change and in order to verify the correct spelling
of the name.
Marriage:
In Quebec: Since April 1981, Women keep their maiden names.
Other provinces: Marriage certificate is required.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F5A - Beneficiary, Trustee, Assignment for Collateral, Name Correction
Also provide the necessary documents for a name change in the following situations:
Person’s name: Birth certificate, citizenship card, adoption certificate, marriage certificate, health
insurance card (with photo) or passport.
Company : A legal proof for the name change provided by the enterprise (usually a government
document).
The company is registered under more than one name: Constituent act (letter of patent,
documents delivered under various statues to create a legal entity. The letters of patent are
then recorded in the business registry.
If the company changes its name: Official certificate or amendment confirming the
modification.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
The signature of the policyowner(s) is preferable, but not mandatory when the name correction is a
spelling error and proof of identity is provided.
Individual Life Insurance
Page 18
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June 2017
Fee(s)
None
Effective Date of Transaction
Date signed (the Company is not responsible for the validity of any other transactions processed
between the date signed and the date received).
Acknowledgement of Transaction
A legal designation rider will be sent directly to the client with a copy on imaging. No confirmation or
copy of the rider will be sent to the agent of record.
Last Revision Date
June 2017
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Individual Life Insurance
Page 19
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June 2017
Policyowner Change
General Information
The designation of a new policyowner revokes all beneficiary, trustee and contingent policyowner, as
well as the validity of all LTA (Limited trading authorization).
It is recommended that the new policyowner designate a new beneficiary. If there is no beneficiary
designation made, the new policyowner or the estate of the new policyowner automatically becomes
by default the new beneficiary. (In exception, if the change is made following the death of the
policyowner, the current beneficiary will remain as such until the new owner assigns a new
beneficiary.) The change of beneficiary request must be signed on the same day or subsequently to
the change of ownership request.
Upon transfer of ownership the new owner assumes all the rights under the policy contract.
Single ownership – upon death, the rights under the contract will be transferred to the contingent
owner (also called subrogated or successor owner) if one was designated. If not, the rights of
ownership of the contract will be transferred to the estate of the deceased owner.
Joint ownership –
If the contract was signed in a province or territory other than Quebec, should one joint owner
die, his/her ownership share passes automatically to his/her contingent owner. If there is no
contingent owner, it passes to the surviving joint owner(s). If there is more than one surviving joint
owners, each such owner shall take an equal share in the deceased joint owner’s share in the
contract. This type of ownership is called “Joint ownership with a right of survivorship” and
automatically applies unless the Policyowners or Applicants specify that the owners are “Tenants in
Common” as described below.
If specified that the joint owners are “Tenants in Common”, then upon the death of one joint owner,
his/her share passes to his/her contingent owner. If there is no contingent owner, then his/her share of
ownership passes to his/her estate.
If this contract was signed in Quebec, upon the death of a joint owner, his/her ownership share in
the contract passes automatically to the contingent owner. If there is no contingent owner, it passes
automatically to his/her estate.
Death of the policyowner
Proof of death will be required if change of policyowner is due to death.
If there is no contingent policyowner, complete the back of form F55-21A and follow the
instructions shown on the form.
The death of the policyowner does not affect the rights of the current beneficiary, until a new
policyowner is appointed.
In all cases:
For PAC mode of payment, provide PAC Authorization and cheque specimen (VOID) of new
account holder.
For Multi-life or Joint Last to Die policies, it is recommended to name a contingent policyowner.
Individual Life Insurance
Page 20
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June 2017
A Designation of Ownership (absolute assignment) cancels the rights of a contingent
policyowner already named in the contract.
If the contract contains a waiver of premium in the event of the applicant’s disability or death
(e.g. WPDis, CAD, WPD), it will automatically be cancelled. If additional benefits are required
for the new policyowner, a Request for Change and Addition of Coverage (F4A) and proof of
insurability (F3A) are required. However, for a universal life policy, if the previous policyowner
is Transfer of Ownership revokes the LTA.
Since December 1, 1982, in Quebec, an irrevocable divorce judgement or a marriage
annulment cancels any designation of the spouse as beneficiary or contingent policyowner. In
order for the spouse to remain the beneficiary after a divorce, a new beneficiary designation
must be made.
Since June 1, 1986, in Quebec, a divorce takes effect on the 31st day following the divorce.
After that time, a decree of divorce is remitted to any individual who requests one, and this
document and the accessory (legal document) are required for changing the irrevocable
spouse beneficiary or for any transaction involving the signature of the irrevocable spouse
beneficiary.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F30A - Designation of Ownership, Contingent Owner
 Confirmation of Identity section mandatory for universal life policies.
F5A - Beneficiary, Trustee, Assignment for Collateral, Name Correction
Please also provide the following form (s), if applicable:
Assignment for collateral: a release of assignment OR the consent and seal from the financial
institution is required.
Bankruptcy / Seizure : provide the necessary documents to release the bankruptcy / seizure.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
The irrevocable/preferred beneficiary’s signature is required, if applicable. If the person is deceased
the death certificate must be provided.
Fee(s)
None
Individual Life Insurance
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June 2017
Effective Date of Transaction
Date signed (the Company is not responsible for the validity of any other transactions processed
between the date signed and the date received).
Acknowledgement of Transaction
A legal designation rider will be sent directly to the client with a copy on imaging. No confirmation or
copy of the rider will be sent to the agent of record.
Last Revision Date
June 2017
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Individual Life Insurance
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June 2017
Release of Assignment
General Information
Official release document required from Assignee(s), with applicable signature(s).
Form(s) Required
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
Release of Assignment (with applicable signature(s))
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
Applicable Assignee(s) signature(s).
Fee(s)
None
Effective Date of Transaction
Signature date.
Acknowledgement of Transaction
A legal designation rider will be sent directly to the client with a copy on imaging. No confirmation or
copy of the rider will be sent to the agent of record.
Last Revision Date
July 2009
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Individual Life Insurance
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June 2017
CHANGES TO THE POLICY OR COVERAGE
Addition of a Child to an Existing Child Module or Rider
General Information
It is preferred that the Company be informed if a child is born after a Child Module or rider has been
issued. The child is covered according to the terms of the contract.
A reminder is sent to the agent, two months prior to the conversion option of each child.
Adopted children are admissible to the Child Module without underwriting unless the contract stipulates
otherwise.
If the child was born before the issue date of the Child Module, the F3A form is required to add the
child.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-03 – Addition of a Child to an Existing Child Module
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
No signature required.
Fee(s)
None
Effective Date of Transaction
Upon receipt of the request at your Service Centre.
Acknowledgement of Transaction
Confirmation to the Agency by email or memo.
Rider, if applicable.
Last Revision Date
December 2016
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Individual Life Insurance
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June 2017
Addition of Coverage and/or Additional Benefits
General Information
As of October 15, 2016, the addition of an additional insured on a universal life policy is not allowed.
For Traditional and Universal Life policies issued prior to January 1st 2017, the additions of life
insurance coverage are not available. You must proceed with a new policy. Only the additions of
Additional Benefits or Criticall Illness or Disability riders are allowed.
Include a cheque covering one monthly premium for the new coverage requested if the client wishes to
be covered on the date the request is signed, in accordance with the terms of the Interim Insurance
Agreement.
For Traditional products, the additional coverage will be based on the then current rates and the
attained age.
For UL products issued before January 1st 2017, only addition of benefits and addition of the option
10-15-20 are allowed and based on the attained age and the current rates for addition.
During the file review, the same amount of PAC premiums continue to be withdrawn as before the
change request.
After acceptance, a special premium is withdrawn in the case of PAC payment or billed with other
methods of payment, if applicable.
Universal life policy: Enter the new target premium on the F4A, since it is not adjusted
automatically. However, if there are no instructions, and the target premium prior to the change was
equal to the minimum premium, the target premium will be adjusted to the amount of the new minimum
premium.
Attach proof of insurability for the Policyowner if the contract contains WPD, WPDis or CAD if the
premium for the addition exceed $300 annually.
Child Module:
For the addition of a child module on Traditional and Universal Life policies issued prior to January
1st 2017, the following rules apply:
 Child module issued prior to January 1st 2017: the child module will be added to the
existing policy
 Child module issued after January 1st 2017: the child module will be added to a new
independent policy. This policy will only include the child module, with no policy fees. No
other additions will be allowed.
Since it is not allowed to proceed with an addition of child module using the Electronic Changes
tool, please use the F4A-03 form to proceed with your request.
Provide insurability declarations for all children already born at the time of the request.
Individual Life Insurance
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June 2017
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-03 – Addition of Coverage and/or Additional Benefits
Please also provide the following form (s), if applicable:
F3A - Addition of Coverage
Q4A - for Critical Illness and Child and Health Duo coverage
Q6A - for Disability coverage
Q9A - for Life and Serenity coverage
F51-208A - Confirmation of Identity for universal life policies if it has not previously been provided.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Proposed insured’s signature (if aged 16 and over)
Fee(s)
None
Effective Date of Transaction
On the next monthly anniversary or on the last monthly anniversary, if received within 10 days of the
last monthly anniversary, but without exceeding the signature date.
Acknowledgement of Transaction
Endorsement – to be attached to the original contract.
Confirmation of Transaction.
Last Revision Date
June 2017
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Individual Life Insurance
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June 2017
Addition of GPR – A3 and A4 Modules (Guaranteed Premium
Rider)
General Information
If a client refuses the addition of the GPR, have the client sign the refusal letter to conserve a proof of
the client’s choice. A form letter is available in Interface. Please provide us with a copy of this letter to
keep in the client’s file.
For a request to add the GPR at a non-smoker rate, the F30-161A form is required.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-03 – Addition of Coverage and/or Additional Benefits
Please also provide the following form (s), if applicable:
F30-161A – Questionnaire on Tabacco Use - for a request to add the GPR at a non-smoker rate.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Fee(s)
None
Effective Date of Transaction
On the monthly anniversary following the date of reception of the request.
Individual Life Insurance
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June 2017
Acknowledgement of Transaction
Endorsement – to be attached to the original contract.
Confirmation of Transaction.
Last Revision Date
June 2017
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Individual Life Insurance
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June 2017
Cancellation/Reduction of Coverage and/or Additional Benefits
General Information
To surrender/cancel the entire contract, use form F6A.
The PAC withdrawals will not be suspended while the request is in progress. For traditional policies
payable by PAC, any amount on credit or surrender value is applied towards the payment of the next
new premium up to a maximum of 3 months and the remaining amount is reimbursed to the client. For
universal life polices, any excess amount withdrawn is deposit in the fund.
All benefits attached to the coverage being cancelled will also be terminated, unless the benefits or the
child module are transferrable to the other coverage remaining on the contract or the spouse’s
coverage for the child module, while respecting the rules of the benefits.
If the Coverage being cancelled is replaced with a new Coverage, then a Disclosure Statement is
required.
If traditional contract with surrender value attached to the insured being cancelled, the reimbursement
of a loan and/or the payment of premiums in arrears, if applicable, will be processed before proceeding
with the instalment of the surrender value.
For a universal life policy:
It is always preferable to indicate which target premium the policyowner wishes to pay following the
transaction. However, if no target premium is indicated and before the request :
the target premium was equal to the minimum premium, the target premium will be adjusted
according to the new minimum premium following the transaction.
the target premium and the minimum premium were not equal, and that following the
transaction the target premium is less than the minimum premium and/or the monthly cost +
taxes, and that there are insufficient funds available to cover the difference in premium for the
next 3 months, the target premium will be adjusted to the higher between the minimum
premium and the monthly cost + taxes.
Surrender charges will be automatically deducted from the Accumulation Fund, if applicable.
Transaction fees will be automatically deducted from the Accumulation Fund or billed if not
submitted with the request.
Home protection:
Following a lump sum payment, a reduction of coverage is permitted if the request satisfies the
following conditions:
the amount or the total amount of the lump sum payments is equal or higher than $5 000.00;
only one request to reduce the coverage is permitted annually;
an official statement from the lending institution must clearly demonstrate the lump sum
payment(s).
The initial face amount is reduced by the lump sum payment(s). whilst taking into consideration
the decrease.
The Disability Benefit Coverage and the benefits are adjusted accordingly.
For an increase in the duration of the Disability Benefit, the existing benefit is cancelled and a new
coverage is added according to attained age.
For a decrease in the duration of the Disability Benefit, the existing benefit is decreased as of the
current date while conserving the issue date.
Individual Life Insurance
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June 2017
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-04 – Cancellation/Reduction of Coverage and/or Additional Benefits
Q8A – Mortgage Loan Confirmation for Home protection plan
Please also provide the following form (s), if applicable:
Assignment for collateral : a release of assignment OR the consent and seal from the financial
institution is required.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
The irrevocable/preferred beneficiary’s signature is required. If the person is deceased, the death
certificate must be provided.
Fee(s)
Refer to Transaction Fees
Effective Date of Transaction
The next monthly anniversary or the last monthly anniversary if received within 10 days of the last
monthly anniversary.
For conditional cancellations, the effective date will be the month in which the new coverage is
accepted.
Acknowledgement of Transaction
Endorsement – to be attached to the original contract.
Confirmation of Transaction.
Last Revision Date
June 2017
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Individual Life Insurance
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June 2017
Change from Joint Last to Die to Individual Life
General Information
Restricted to certain products – E.g. Genesis 4 and more and some version of the Flex Account (refer
to the policy contract for details).
Refer to the policy contract wording for detailed conditions.
Form(s) Available on Extranet and Required Document(s)
N/A
Acceptable Means for Submitting the Request
N/A
Signature(s) Required
N/A
Fee(s)
Refer to Transaction Fees
Effective Date of Transaction
N/A
Acknowledgement of Transaction
N/A
Last Revision Date
MM-YYYY
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Individual Life Insurance
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June 2017
Change in Type of Coverage (Within 13 Months of the Issue
Date)
General Information
As of January 1st, 2017, for any life insurance policy issued prior to that date, the new plan will
be based on 2017 tax rules.
A change in type of coverage is permitted retroactive to issue within 13 months following the issue date
of the coverage.
For a request to back-date the contract in order to save age, the approval date will be used to
determine the 13 months.
For Traditional Life Insurance and Critical Illness, the same rate category and rate schedule in
effect during the issue of the initial contract.
For Universal Life Insurance issued SINCE January 1st, 2017, the same rate category and rate
schedule in effect during the issue of the initial contract.
For Universal Life Insurance issued BEFORE January 1st, 2017 with a face amount of:
 Less than 1 million, the rates in effect on the issue date of the contract will be retained;
 Of 1 million and greater, the 2017 rates will be applied retroactively to the original issue date.
A change in type of coverage is not permitted if more than 13 months have passed since the issue
date of the policy. Please proceed by internal replacement and submit a new life application (F1A), a
surrender form for the original policy (F6A) and a completed Disclosure Statement duly completed and
signed by the policyowner(s).
Within 60 days of the issue date of the policy, the policyowner(s) signature is required on the Receipt
for Delivery of Contract at the “Contract Accepted and Returned for Modification” section. If changing
to a universal life product, please provide a life application (F1A) with the required information related
to the universal life product as well as the Confirmation of Identity section and a signed illustration.
A The contract must be returned to your Service Centre in order to proceed with the change.
The new type of coverage must have been available at the time of the original effective date and still
available at the submission date of the change of plan.
In addition to the change in type of coverage, the following procedure also covers the following
transactions:
Change from YRT to Level costs (and vice versa for the same plan).
Change in type of Death Benefit (same plan).
Addition of Option 10, 15, 20 as of the original effective date.
Change from Genesis to IRIS and vice versa provided that no IRIS loan has been granted.
If the change in type of coverage is accompanied with a reduction/cancellation in coverage, the
reduction/cancellation is applied as of the current date and the change of plan takes effect at the issue
date.
If an Option 10, 15, 20 is cancelled or if there is a change of cost of insurance from Level to YRT, the
change is retroactive to issue and the difference in the cost (for the duration between the original
effective date of the contract and the date of the request) is adjusted in the accumulation fund.
If the change in type of coverage is accompanied with an addition or cancellation/decrease of
coverage, refer to the applicable sections of this document for further information.
Individual Life Insurance
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June 2017
Premiums: Premiums paid or credited for the original coverage are charged or credited to the new
coverage of the new policy. This applies when changing from a UL insurance to Traditional and vice
versa, but does not apply when changing from a UL contract to another (all premiums/deposits paid
will remain as originally applied).
If there is no increase in risk, proof of insurability is not required.
If the change in type of coverage is accompanied with an increase in coverage, this increase (issued
as a separate coverage) takes effect as of the current date, unless otherwise specified. The request
will be reviewed by Underwriting and additional proof of insurability may be required.
A change in type of coverage must be applied towards two types of plans with the same underwriting
requirements. Therefore, it is not permitted to change from a Critical Illness to an Individual Life type
of coverage and vice versa. In such a case, you must proceed by internal replacement.
A change in type of coverage is not permitted for Access Life, Life & Health Duo and Life and Serenity
plans.
If the request to change the type of coverage is for a contract which was issued as a result of a
conversion, it is not possible to change the plan back to a term insurance but it is possible to change
for a permanent plan.
However, if the request to change the type of coverage is for a Universal Life coverage issued as a
result of a conversion, changes in product characteristics are permitted (i.e. death benefit, cost of
insurance…)
When changing from a Universal Life product to a Traditional product, the Company reserves the right
to charge the policyowner(s) for any losses incurred on the investments made on their behalf and
according to their instructions during the period in which the universal life policy was in effect.
The changes in type of coverage permitted for coverages on a joint insurance basis are the following:
st
Joint 1 to die
Type of coverage
Joint 1st to die
Change in type of coverage permitted?
 Yes
Joint 1st to die
Joint 2nd/last to die
No
Joint 2nd/last to die
Joint 2nd/last to die
 Yes
Joint 2nd/last to die
Joint 1st to die
No
2 individual coverages
Joint 1st to die
 Yes
2 individual coverages
Joint 2nd/last to die
 Yes  with evidence of insurability on:
1 individual coverage
+
No
st
Joint 1 to die
Addition of a new insured
1 individual coverage
+

the new insured.
No
nd
Joint 2 /last to die
Addition of a new insured
If the change in type of coverage is from a Child Module to an Individual Life plan and proof of
insurability was not provided when the Child Module was issued (child born after the effective date of
the module), then proof of insurability must be provided.
Only the original writing agent who made the sale of the original contract will receive commissions and
bonuses under the new plan. However, all commissions and bonuses received under the original plan
will be charged back.
Individual Life Insurance
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June 2017
Form(s) Available on Extranet and Required Document(s)
F4A-10 – Change in Type of Coverage
Please also provide the following form (s), if applicable:
F1A - Life and Critical Illness Insurance Application.
Confirmation of Identity section mandatory for universal life policies.
F32A – Transition – Simplified Issue Application
Q4A - for Critical Illness and Child and Health Duo coverage
Q6A - for Disability coverage
Q9A - for Life and Serenity coverage
Signed Illustration (universal life only).
Assignment for Collateral and the change of plan leads to a decrease of the face amount, a release
of assignment OR the consent and seal from the financial institution is required.
A change of Ownership will require:
F30A – Designation of Ownership
Confirmation of Identity section mandatory for universal life policies.
F5A– Beneficiary, Trustee, Assignment for Collateral, Name Correction.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
The irrevocable/preferred beneficiary’s signature is required, if applicable, if the change of plan
leads to a decrease of the face amount. If the person is deceased, the death certificate must be
provided.
Fee(s)
Refer to Transaction Fees
Effective Date of Transaction
Effective date of original coverage. However, if a reduction of face amount is accompanied by a
change of plan, the effective date for the reduction will be processed using the guidelines for the
reduction of coverage.
Acknowledgement of Transaction
Dependent on the scenario and will be a combination of any of the following:
Individual Life Insurance
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June 2017
Endorsement – to be attached to the original contract.
Confirmation of Transaction
Policy Contract
Confirmation of Issue
Policy Delivery Receipt
Last Revision Date
June 2017
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Individual Life Insurance
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June 2017
Conversion of a Term Coverage
General Information
As of January 1st, 2017, for policies issued prior to this date, the new life insurance coverage resulting
from a conversion must be issued on a new policy respecting the new tax rules.
The request must be submitted, at the latest, up to 31 days following the expiry date of the conversion
privilege.
The servicing agent is generally informed via the “Message Form”, 60 days in advance of the
conversion option expiry date.
The convertible period differs from product to product – refer to the policy contract provisions (e.g.
policies on Waiver, must wait until the conversion option expiry in order to convert).
Proof of insurability is not required if the face amount to be converted is equal to or less than the
original policy and there is no change in risk class.
If coverage is being converted and is to be added to an existing traditional policy (policy issued with
2017 tax rules), then a F4A will be required for each policy involved.
If the insurance is converted into a new policy with no change in risk or risk class, the F1A (no medical
evidence required) must be signed by the new policyowner (the new beneficiary must be indicated).
Any conversion request accompanied by an increase in risk is subject to the usual underwriting
requirements for the increased risk portion.
If the Conversion clause stipulates that the additional benefits attached to the convertible term
coverage may be included in the new coverage and the customer wishes to keep them, it must be
indicated on the form F4A; otherwise they will be canceled. Please note that the additional benefits
attached to the convertible term coverage must be available at the date of the conversion and
the insured must meet the administrative rules in force at that time.
The addition of additional benefits is permitted at the time of conversion with evidence of insurability.
If adding or removing/decreasing coverages, refer to the applicable sections of the Policies and
Procedures Guide for more details.
Type of coverage permitted
The term insurance coverages with a conversion option can be converted into a term or permanent
coverage. Please refer to the Conversion clause of the contract to find out what types of insurance
coverages are available when exercising the conversion option.
Individual Life Insurance
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June 2017
The conversions permitted for coverages on a joint insurance basis are the following:
st
Joint 1 to die
Type of coverage
Joint 1st to die
Conversion permitted?
 Yes
Joint 1st to die
Joint 2nd/last to die
No
Joint 2nd/last to die
Joint 2nd/last to die
 Yes
Joint 2nd/last to die
Joint 1st to die
No
2 individual coverages
Joint 1st to die
 Yes
2 individual coverages
Joint 2nd/last to die
 Yes  with evidence of insurability on:
1 individual coverage
+
No
Joint 1st to die
Addition of a new insured
1 individual coverage
+

the new insured.
No
Joint 2nd/last to die
Addition of a new insured
If the amount to be converted is less than $10,000, the contract can only be converted to a nonparticipating whole life policy.
If the conversion is done within the same policy, the desired coverage must be available for that type of
policy.
Coverage with preferred risk classes will be guaranteed unless the current face amount does not meet
the current minimum requirements for such classes.
Form(s) Available on Extranet and Required Document(s)
F4A-13 - Conversion
F1A - Life and Critical Illness Insurance Application (complete all sections except for the insurability
declarations if there is no addition of coverage).
o For universal life policies, please complete the Confirmation of Identity section
Please also provide the following form (s), if applicable:
F3A – Addition of Coverage (complete all sections except for the insurability declarations if there is no
addition of coverage).
Signed Illustration (universal life only).
Q8A – Mortgage Loan Confirmation for Home Protection
Assigned for collateral : a release of assignment OR the consent and seal from the financial
institution is required.
A change of Ownership will require:
F30A – Designation of Ownership
Confirmation of Identity section mandatory for universal life policies.
F5A – Beneficiary, Trustee, Assignment for Collateral, Name Correction.
Individual Life Insurance
Page 37
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June 2017
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
The irrevocable/preferred beneficiary’s signature is required if the conversion leads to a decrease
of the face amount and/or a change in the designation of the beneficiary(ies). If the person is
deceased, the death certificate must be provided.
Conversion on a child module:
Proposed insured’s signature (if aged 16 and over), if applicable.
Fee(s)
None
Effective Date of Transaction
Converted coverage added on the current policy or added to another existing policy:
The current monthly anniversary (unless we are instructed to backdate to save age).
For a child module as well as for guaranteed insurability, according to the contractual clauses.
Converted to a new policy:
The current date (unless we are instructed to backdate to save age).
For a child module as well as for guaranteed insurability, according to the contractual clauses.
Acknowledgement of Transaction
Dependent on the scenario and will be a combination of any of the following:
Endorsement – to be attached to the original contract.
Confirmation of Transaction
Policy Contract
Confirmation of Issue
Policy Delivery Receipt
Last Revision Date
June 2017
Individual Life Insurance
Page 38
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June 2017
Date of Birth - Correction
General Information
If an incorrect date of birth is provided on the application, the following applies:
If the age must be decreased, the premium is adjusted at the time of correction and is based on the
insured’s true age; the difference of premium paid in excess since issue is reimbursed. However, if the
insured wishes to maintain the same premium, the capital insured is increased upon receipt of
satisfactory insurability declarations.
If the age must be increased, we require the difference in premiums in order to maintain the current
sum insured. However, the policyowner may choose to reduce the coverage to an amount that could
have been bought with the amount of premiums paid, and this, according to the insured’s true age and
original premium rates.
If an administrative transcription error by IA occurs, the following applies:
If an error occurs during the transcription of the information from the insurance application to the
Industrial Alliance systems and the error is attributable to the Company, the following conditions will be
applied during the correction:
the policyowner’s signature and proof of age is not required.
If the age must be decreased, the premium is adjusted at the time of correction, based on the
insured’s true age; the difference of premium paid in excess since the issue of the coverage is
reimbursed. However, if the insured wishes to maintain the same premium, no premiums are
reimbursed and the capital insured is increased upon receipt of satisfactory insurability
declarations.
If the age must be increased, we will proceed with the correction without requiring the outstanding
premiums. However, following the correction, the payment of the revised premium is required. If
the policyowner does not wish to pay the revised premium, he/she may choose to reduce the
coverage to an amount that could have been bought with the premiums paid, and this, according
to the insured’s true age and original premium rates.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-11 – Date of birth (Correction)
Original passport, Driver’s license or other government issued identification.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Individual Life Insurance
Page 39
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June 2017
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Fee(s)
None
Effective Date of Transaction
Upon receipt of the request at your Service Centre.
Acknowledgement of Transaction
Without an age change :
Confirmation to the agency by email or internal mail.
With an age change :
Endorsement – to be attached to the original contract.
Last Revision Date
June 2017
Back
Individual Life Insurance
Page 40
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June 2017
Death Benefit (Universal Life)
General Information
As of January 1st, 2017, if the transaction leads to an increase of capital insured, we reserve the right
to issue a new policy for the increase of capital insured.
Refer to the Policy Contract for the applicable provisions.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-08 – Death Benefit (Universal Life Policy)
Please also provide the following form (s), if applicable:
F3A - Addition of Coverage
Assigned for collateral : and the death benefit is changed to Face amount only, release of
assignment OR the consent and seal from the financial institution is required.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
If the face amount is being maintained, the insured’s signature is required (authorized to sign if aged
16 and over).
If applicable, the irrevocable/preferred beneficiary signature is required if the death benefit is
changed to Face amount only. If the person is deceased, the death certificate must be provided.
Fee(s)
None
Effective Date of Transaction
Based on the reception date of the request:
Less then 10 days from the last monthly anniversary :
Date of the last monthly anniversary even if it is prior to the signature date.
More then 10 days from the last monthly anniversary:
Date of the next monthly anniversary.
Individual Life Insurance
Page 41
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June 2017
Acknowledgement of Transaction
Endorsement – to be attached to the original contract.
Confirmation of Transaction.
Last Revision Date
June 2017
Back
Individual Life Insurance
Page 42
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June 2017
Dissociation
General Information
It is not allowed to dissociate coverage from a policy issued prior to January 1st, 2017 with the aim of
adding it to a policy issued after this date and vice versa. A policy cannot be composed of coverages
linked to different tax rules.
The policy date is determined by the effective dates of the coverages being dissociated.
If there is a transfer of ownership, the new policyowner must name a new beneficiary.
If the dissociation involves a child who was 18 years of age and less when the original contract was
issued, the transaction fees are waived.
If the dissociation is on a newly issued contract, the transaction fees are waived within the first 3
months.
If more than one insured is dissociated and each insured wants their own policy, an F1A form per
insured must be completed (without declarations of insurability).
If the dissociation requires a change of ownership and the actual mode of payment is PAC, the F4A-01
form (Payment to Monthly Pre-Authorize Cheque Payments (PAC), Change Existing PAC is required.
The new contract is issued with the policy fee structure according to the issue date of the dissociated
coverage.
If the coverage being dissociated is to be added to another policy, the added coverage must be
compatible with the same family of products as the policy in which it is being added to.
If the policy includes a debt (loan), a portion of it, calculated in proportion to the surrender value
attached to the dissociated coverage, will automatically be transferred to the new policy.
If the owner of the new contract is the same as the original contract, any existing additional benefits
can be conserved on the new policy without insurability declarations providing that there is no increase
in the risk.
If adding or removing/decreasing coverages, refer to the applicable sections of this document for
further information.
Universal life policy:
if the dissociated coverage includes surrender charges, a portion of the accumulation fund up
to the amount of surrender charges of the dissociated coverage will automatically be
transferred to the new contract so that the surrender value of the two contracts equals the
surrender value of the original contract before the dissociation took place. If the remaining
funds are to be split, instructions must be given and signed by the actual policyowner(s).
If there is no active coverage on the contract following the dissociation, a new traditional policy
will be issue.
if there is a “Transfer of Ownership”, the F51-208A – Confirmation of Identity is required to be
completed for the new policyowner.
Modular policies issued before November 14, 1988: if the additional insured has less than three
A3s ($30,000), five A4s ($50,000), or 10 A5s ($10,000) when the policy is issued, policy fees are
added to the annual premium of the dissociated insured, even if there is a subsequent addition of
coverage.
Individual Life Insurance
Page 43
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June 2017
Form(s) Available on Extranet and Required Document(s)
F4A-14 - Dissociation
F1A - Life and Critical Illness Insurance Application (all sections must be completed except for the
insurability declarations if no addition of coverage).
 Confirmation of Identity section mandatory for universal life policies.
Please also provide the following form (s), if applicable:
F3A – Addition of Coverage (all sections must be completed except for the insurability declarations if
no addition of coverage).
Assignment for collateral: a release of assignment OR the consent and seal from the financial
institution is required.
A change of Ownership will require:
F30A – Designation of Ownership
 Confirmation of Identity section mandatory for universal life policies.
F5A - Beneficiary, Trustee, Assignment for Collateral, Name Correction
F4A-01 – Payment to Monthly Pre-Authorize cheque Payments (PAC), Change Existing PAC
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
The irrevocable/preferred beneficiary’s signature is required, if applicable. If the person is
deceased, the death certificate must be provided.
Fee(s)
Refer to Transaction Fees
Effective Date of Transaction
Next monthly anniversary unless signed and received within 10 days of the past monthly anniversary.
Individual Life Insurance
Page 44
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June 2017
Acknowledgement of Transaction
Dependent on the scenario and will be a combination of any of the following:
Endorsement – to be attached to the original contract.
Confirmation of Transaction
Policy Contract
Confirmation of Issue
Policy Delivery Receipt
Last Revision Date
June 2017
Back
Individual Life Insurance
Page 45
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June 2017
Dissolution of a Joint First to Die Coverage
General Information
As of January 1st, 2017, the dissolution of a universal life policy will lead to the issue of 2 or more
policies for the policies issued after this date since only one insured is allowed per policy.
Unless specified otherwise in the contract clauses, the following rules are applicable.
Each insured is entitled to a proportionate amount of the sum insured, e.g. if 2 lives, then 50%
each of the current coverage.
The original age and risk class for each insured is used, specifying male or female.
Universal life policy: if there is a “Transfer of Ownership”, the F51-208A – Confirmation of
Identity is required to be completed for the new policyowner.
When the cash value or surplus of a joint coverage is more than the sum of the cash value or
surplus of the individual lives at the time of the change, the difference will be paid to the
Policyowner.
When the cash value or surplus of a joint coverage is less than the sum of the cash value or
surplus of the individual lives at the time of the change, the shortfall will be charged to the
Policyowner and a payment will be required before proceeding with the change.
If adding coverage refer to the applicable sections of this document for further information.
For Traditional policies, the surrender value or surplus follows the insured onto the new contract
and if there are any policy loans on the original contract, the equity must be sufficient to cover the
loan after the dissolution. If not, a portion of the loan will be transferred to the newly created policy.
Dissolution is not available for Joint Last to Die policies.
For IA Joint policies issued before June 21, 1991, each insured is contractually allowed to keep
100% of the coverage. This applies to previous North West Life policies issued between 1984 and
1991.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-15 – Dissolution of a Joint 1st to Die Coverage
Please also provide the following form (s), if applicable:
Assignment for collateral: a release of assignment OR the consent and seal from the financial
institution is required.
A change of Ownership will require:
F30A – Designation of Ownership
 Confirmation of Identity section mandatory for universal life policies.
F5A - Beneficiary, Trustee, Assignment for Collateral, Name Correction
Individual Life Insurance
Page 46
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June 2017
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
If the beneficiary of the coverage to be dissolved or withdrawn is irrevocable/preferred, his/her
signature is required. If the person is deceased, the death certificate must be provided.
Fee(s)
Refer to Transaction Fees
Effective Date of Transaction
Next monthly anniversary unless signed and received within 5 days of the past monthly anniversary.
Acknowledgement of Transaction
Dependent on the scenario and will be a combination of any of the following:
Endorsement – to be attached to the original contract.
Confirmation of Transaction
Policy Contract
Confirmation of Issue
Policy Delivery Receipt
Last Revision Date
June 2017
Back
Individual Life Insurance
Page 47
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June 2017
Dividend Option: Other than Additional Insurance
General Information
Refer to the Policy Contract for the applicable provisions.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-11 – Dividend Option
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Fee(s)
None
Effective Date of Transaction
Upon receipt of the request at your Service Centre.
Acknowledgement of Transaction
Confirmation to the Agency by email or memo.
Last Revision Date
May 2013
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Individual Life Insurance
Page 48
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June 2017
Dividend Option: Additional Insurance
General Information
Refer to the contract stipulations for available options.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-11 – Dividend Option
F3A - Addition of Coverage
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Proposed insured’s signature (if aged 16 and over).
Fee(s)
None
Effective Date of Transaction
The effective date of the change is the closest monthly anniversary following the approval date, as long
as it is not prior to the signature date of the form(s).
Acknowledgement of Transaction
Confirmation to the Agency by email or memo.
Last Revision Date
June 2017
Back
Individual Life Insurance
Page 49
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June 2017
Exercise the Guaranteed Insurability (GI) Benefit
General Information
As of January 1st 2017, following the exercise of the guaranteed insurability benefit from a policy
issued prior to this date, the coverage will henceforth be issued on a new policy.
The documents required are determined according to the type of option exercised.
If increase in risk and addition to existing contract – include declaration of satisfactory insurability
(F3A).
If increase in risk and new contract to be issued – include declaration of satisfactory insurability (F3A)
and new life application (F1A).
If no increase in risk and new contract to be issued – include new life application (F1A). If the plan
chosen is a universal Life product, a life application (F1A) with the required information related to the
universal life product is required (including the F51-208A – Confirmation of Identity and a signed
illustration.
If adding or removing/decreasing coverages, refer to the applicable sections of this document for
further information.
Events permitting anticipation of an option
Refer to the Policy Contract.
The option must be exercised within 31 days of the option expiry or the event.
Option dates
Refer to the Policy Contract.
Form(s) Available on Extranet and Required Document(s)
F4A-12 – Exercise the Guaranteed Insurability (GI) Benefit
A change of Ownership will require:
F30A – Designation of Ownership
 Confirmation of Identity section mandatory for universal life policies.
F5A - Beneficiary, Trustee, Assignment for Collateral, Name Correction
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Individual Life Insurance
Page 50
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June 2017
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Proposed insured’s signature (if aged 16 and over).
Fee(s)
None
Effective Date of Transaction
In order to determine the effective date of the coverage, please refer to the wording of the policy for the
conditions applicable to each product.
Acknowledgement of Transaction
Dependent on the scenario and will be a combination of any of the following:
Endorsement – to be attached to the original contract.
Confirmation of Transaction
Policy Contract
Confirmation of Issue
Policy Delivery Receipt
Last Revision Date
June 2017
Back
Individual Life Insurance
Page 51
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June 2017
Cost of Insurance from YRT to Level (Universal Life)
General Information
Contractually available for most universal life policies (except for previous Seaboard Life and National
Life products which do not contain this provision, contact your Service Centre).
Meridia and Genesis: No change permitted prior to 36 months, unless within the first 13 months and
proceeded with as a “Change in Type of Coverage”.
For certain versions of the Genesis product – Joint Last to Die Coverage: No change permitted prior to
120 months.
A change from “Guaranteed Level Cost of Insurance” to “YRT” cost of insurance is not available.
The change is made without proof of insurability according to the same risk and smoking class as at
issue.
If the death benefit is “Face amount only,” the insurance amount is reduced by an amount equal to the
accumulation fund and the death benefit is changed to “face amount + fund”. If the current face
amount is to be maintained, satisfactory evidence will be required (unless otherwise specified in the
policy contract). For policies issued before January 1st, 2017, we reserve the right to issue a new
policy if the current capital insured must be maintained.
The level cost of insurance corresponds to the cost in effect at the time of the change according to the
insured's attained age and based on the then current level rates, which differ from the new issue rates,
unless they were guaranteed in the policy contract.
If prior to the request, the Target Premium and Minimum Premium are equal, the Target Premium will
be adjusted to the new Minimum Premium, following the transaction.
If prior to the request, the Target Premium is lower than the Minimum Premium, it is not adjusted
following the transaction. If the policyowner wishes to change the Target Premium, instruct us on the
change request.
Transaction fees will be automatically deducted from the Accumulation Fund or billed if not submitted
with the request.
For Non-Contractual requests for previous Seaboard Life Insurance universal life products, please
refer to Form 5042 – available upon request.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-08 – Cost of Insurance from YRT to Level (Universal Life Policy)
Please also provide the following form (s), if applicable:
Assignment for collateral: a release of assignment OR the consent and seal from the financial
institution is required.
Individual Life Insurance
Page 52
For any inquiries and/or comments, please contact us at 1 844 4IA-INFO.
June 2017
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
The irrevocable/preferred beneficiary’s signature is required, if applicable, if the change of rate
leads to a decrease of the face amount. If the person is deceased, the death certificate must be
provided.
Fee(s)
Refer to Transaction Fees
Effective Date of Transaction
Based on the reception date of the request:
Less then 10 days from the last monthly anniversary.
Date of the last monthly anniversary, even if it is prior to the signature date.
More then 10 days from the last monthly anniversary:
Date of the next monthly anniversary
Acknowledgement of Transaction
Endorsement – to be attached to the original contract.
Confirmation of Transaction.
Last Revision Date
June 2017
Back
Individual Life Insurance
Page 53
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June 2017
Tobacco Status (Non-Smoker) / Non-Smoker Bonus
General Information
Unless specified otherwise in the contract clauses, the following rules are apply.
Prior to the 5th anniversary of the coverage: the change is based on the age at issue and the
premium is established according to the original rate.
Following 5th anniversary of the coverage: the change is based on the attained age, unless
specified within the policy contract. The premium is established according to the original rate.
Coverage issued on the life of a child aged under 15 yrs old at the regular rate and who is
currently 15 years of age or more, it is possible to change to the non-smoker rate at the attained
age without any fees for all plans.
Universal policy :
If prior to the request, the Target Premium and Minimum Premium are equal, the Target
Premium will be adjusted to the new Minimum Premium, following the transaction.
If prior to the request, the Target Premium is higher than the Minimum Premium, it is not
adjusted following the transaction. If the policyowner wishes to change the Target
Premium, instruct us on the change request.
Maxirance – Non-Smoker Bonus: If a child, between 15 and 20 years of age, with a permanent
option issued at age 0 - 14, submits a non-smoker declaration and satisfactory proof of insurability,
there is a 40% increase in the total insurance coverage (base face amount + value of insurance
bonus at that time). Does not increase cash values, if applicable.
AXIS and Traditional Insurance (issued prior to January 1st, 2017) – Non-Smoker Bonus:
 For permanent traditional policies issued as of January 1st, 2017, the non-smoker bonus is no
longer offered.

If a child, between 15 and 20 years of age, with a permanent option issued at age 0 - 14
submits a non-smoker declaration and satisfactory proof of insurability, there is a 40% increase
in insurance coverage. Does not increase cash values, if applicable.
Alternative: The change of rate to non-smoker is available only for Alternative policies issued as
of November 22, 2010. The policies issued prior to this date are not eligible for the non-smoker
rate.
Individual Life Insurance
Page 54
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June 2017
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-06 – Tobacco Status (Change to Non-Smoker)
Please also provide the following form (s), if applicable:
F2A – Alternative
F3A - Addition of Coverage
F8A - Perspective
F11A – Alternative – Term Product
F32A- Transition Simplified Issue
Q4A – for Critical Illness and Child Life & Health Duo
Q6A – for Disability coverage
Q9A – for Life and Serenity coverage
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Insured’s signature (if aged 16 and over).
Fee(s)
Refer to Transaction Fees
Effective Date of Transaction
The effective date of the change is the closest monthly anniversary following the approval date, as long
as it is not prior to the signature date of the form(s).
Individual Life Insurance
Page 55
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June 2017
Acknowledgement of Transaction
Endorsement – to be attached to the original contract.
Confirmation of Transaction.
Last Revision Date
June 2017
Back
Individual Life Insurance
Page 56
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June 2017
Duplicate Policy
General Information
The policy must be active and in force.
For previous IA policy contracts:
A duplicate policy is available for Alliance contracts, La Solidarité contracts and issued after January 1,
1978.
A duplicate policy is available for Industrial contracts, except for the plans listed below. Only a policy
summary is available for these products. It is produced free of charge:
Policy numbers lower than 00-1125000-0.
Rates books from 1952 or earlier.
Participating Whole Life issued before October 1969 (PWL).
Special Non-Participating Whole Life issued before July 1966 (SNPWL).
Family Policy with Term Family Policy Insurance (FAMP with FAMT).
Family Rider (FAMR).
Family Security issued before June 1967 (FAMS).
20-years Family Annuity.
Additional protection issued before 1970.
Debenture paid up from 15 years DBLB15 - DBLB16 etc.
CID issued before February 1989.
For previous Seaboard Life Insurance policy contracts:
A duplicate policy is available for most universal life policies.
A duplicate policy is unavailable for traditional life policies.
For previous National Life policy contracts:
Refer to your Service Centre.
In all cases we reserve the right to issue a policy summary at no charge, if for any reason we are
unable to issue a duplicate contract.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-11 – Duplicate Policy
Please also provide the following form (s), if applicable:
Assignment for collateral: a release of assignment OR the consent and seal from the financial institution is
required.
Individual Life Insurance
Page 57
For any inquiries and/or comments, please contact us at 1 844 4IA-INFO.
June 2017
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Fee(s)
Refer to Transaction Fees
Effective Date of Transaction
On the reception date at your service center
Acknowledgement of Transaction
Policy Contract sent to agency.
Policy Summary or Memorandum of Particulars sent to policyowner.
Rider sent to agency.
Last Revision Date
June 2017
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Individual Life Insurance
Page 58
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June 2017
Policy Summary
General Information
Available through the Extranet or CyberClient.
The policy summary is a summary of the contract coverages and additional benefits. It does not
contain any contract clauses.
Form(s) Available on Extranet and Required Document(s)
N/A
Acceptable Means for Submitting the Request
N/A
Signature(s) Required
N/A
Fee(s)
None
Effective Date of Transaction
N/A
Acknowledgement of Transaction
N/A
Last Revision Date
July 2009
Back
Individual Life Insurance
Page 59
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June 2017
Reduced Paid-Up Insurance – Traditional Policy
General Information
To obtain a quote, write or E-mail your Service Centre.
Policies with loans are paid up for a reduced amount on a proportional basis. On the applicant's
request, the policy may be paid up for the full amount available, subject to payment of the loan before
the policy is paid-up.
The minimum of each contract must be respected. For example, for a Modular contract, refer to the
following table:
Modular
A1 issued before November 14, 1988
A1 issued on November 14, 1988 and after
A2
A3
A4
A5
A6
A20
Minimum
$ 500
$2,500
$ 500
$ 500
$2,500
$2,500
$2,500
$2,500
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-09 – Reduced Paid-Up Insurance (Traditional Policy)
Please also provide the following form (s), if applicable:
Assignment for collateral: a release of assignment OR the consent and seal from the financial
institution is required.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
The irrevocable/preferred beneficiary’s signature is required, if applicable. If the person is
deceased, the death certificate must be provided.
Individual Life Insurance
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June 2017
Fee(s)
None
Effective Date of Transaction
At the monthly anniversary of the billing indicated on the contract. (Paid to)…
Acknowledgement of Transaction
Endorsement – to be attached to the original contract.
Confirmation of Transaction.
Last Revision Date
May 2013
Back
Effective Date of Transaction
Next monthly anniversary unless signed and received within 5 days of the past monthly anniversary.
Acknowledgement of Transaction
Endorsement – to be attached to the original contract.
Confirmation of Transaction.
Last Revision Date
June 2017
Back
Individual Life Insurance
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June 2017
Reinstatement of a Policy Not Placed
General Information
Period granted by the Company for the payment of a premium
The premium payment must be made within a period of 60 days. During this period, the Company
agrees to:
cover all customers in Canada under their life insurance policy in case of death or disability or
critical illness;
waive the insurability declarations which were required to consider a policy in force. Therefore,
insurability declarations are necessary only after 60 days.
Reinstatement request
All outstanding premiums/fees must be paid.
The policy must be returned if it is a reinstatement with a request to change the effective date to the
current date and/or if there is a change in the coverage of the policy.
The Delivery Receipt is not acceptable for insurability declarations.
Declarations of insurability
Declarations of insurability are required according to the elapsed time since the application was
approved; see the Form(s) Available on Extranet and Required Document(s) section below.
Declarations of insurability are required for all persons covered under the policy, either:
each of the insureds;
the policyowner(s) covered by a CAD, CID, CADE, WP, WPDis, or WPD benefit;
each child covered under a child module.
Transition Simplified Issue
A Transition Simplified Issue policy which is issued following the refusal of a Transition (25 illnesses)
policy cannot be reinstated.
Change of effective date of the policy for the current date
The policy must be returned to your Service Centre with the reinstatement request.
If the change of effective date leads to an increase in age for the insured(s), please indicate on the
request if you want to either:
conserve the age OR
increase the age  For a universal life policy, please provide a new signed illustration.
Please note that the Underwriting Department reserves the right to request additional documents.
Individual Life Insurance
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June 2017
Form(s) Available on Extranet and Required Document(s)
Policy terminated for less than 120 days following the approval date of the application:
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-05 – Reinstatement/Policy Not Placed
According to the answers to questions A, B, C, D, E ou F, attach to the F4A-05, if applicable:
F3A - Addition of Coverage (if applicable)
Q4A - Critical Illness Questionnaire
Q6A - Disability Insurance Questionnaire
Q9A - Life and Serenity Questionnaire
If it is a simplified issue policy, please attach to the F4A-05:
F32A - Transition Simplified Issue Application
F35A - Access Life Application
Policy terminated for 120 days or more following the approval date of the application:
Please submit a new application, according to the type of product, either:
F1A – Life and Critical Illness Insurance Application
F32A - Transition Simplified Issue Application
F35A - Access Life Application
Q4A - Critical Illness Questionnaire
Q6A - Disability Insurance Questionnaire
Q9A - Life and Serenity Questionnaire
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Signature preferable but not mandatory:
Insured’s signature (if aged 16 and over).
Fee(s)
None
Effective Date of Transaction
Upon approval and the date of termination.
Individual Life Insurance
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June 2017
Acknowledgement of Transaction
Dependent on the scenario and will be a combination of any of the following documents:
Endorsement – to be attached to the original contract.
Confirmation of Transaction
Policy Contract
Confirmation of Issue
Policy Delivery Receipt
Last Revision Date
June 2017
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Individual Life Insurance
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June 2017
Reinstatement
General Information
Period granted by the Company for the payment of a premium
The premium payment must be made within a period of 60 days. During this period, the Company
agrees to:
cover all customers in Canada under their life insurance policy in case of death or disability or
critical illness;
waive the insurability declarations which were required to consider a policy in force. Therefore,
insurability declarations are necessary only after 60 days.
Reinstatement request
Reinstatement is possible on contracts that have lapsed up to a maximum of two years, unless
specified otherwise within the policy contract.
Include a cheque for the outstanding premiums and the interest:
Add the surrender value and interest to the cheque for a contract terminated as a result of
surrender.
Add the total or partial loan repayment and interest to the cheque for a contract that terminated
with a deficit (terminated because the loan exceeded the surrender value).
Reinstatement request following a surrender conserved by the representative
A delay of 15 calendar days following the date of the termination notice is granted to the
representative in order to conserve a policy following a surrender request. This request must be
received at the service centre within this period.
Please attach a signed request from the policyowner, a cheque for the amount of premiums in arrears
as well as the amount of surrender value paid to the client.
Declarations of Insurability
Declarations of insurability are required for all persons covered under the policy, either:
each of the insureds;
the policyowner(s) covered by a CAD, CID, CADE, WP, WPDis, or WPD benefit;
each child covered under a child module.
Modular Plu$
The extended insurance is available for permanent coverages and for child modules.
 The duration of the extended insurance is 12 months.
 The extended insurance is applicable at the termination of the contract whether by lapse, total
or partial surrender.
The extended insurance is not applicable to the following coverages and benefits:
 a coverage converted to a reduced paid-up coverage.
 a P20, T10, T20 and T100 coverage
Individual Life Insurance
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June 2017
 guarantee: WPDI or WPDC and the insured covered by this guarantee is on disability.
 a Guaranteed Insurability (GI) benefit
 a Supplementary Income (SI) benefit
Term 100 (Solidarité)
The eligibility conditions for the extended insurance may differ from one Term 100 policy to another.
The extended insurance is not available if the policy is terminated following the client’s request
(surrender). Proof of insurability will then be necessary for a reinstatement.
La Sécuritaire (SECAN) (Solidarité)
When subscription for this product, the policyowner answered only 2 questions and the contract
provided for the possibility of requesting a reinstatement. A form called « the reinstatement request
for La Sécuritaire (Sol) must be completed and signed by the policyowner and the insured.
Form(s) Available on Extranet and Required Document(s)
Policy terminated for less than 120 days:
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
Termination Notice OR
F4A-05 – Reinstatement/Policy Not Placed
According to the answers to questions A, B, C, D, E ou F, attach to the F4A-05, if applicable:
F3A - Addition of Coverage
Q4A - Critical Illness Questionnaire
Q6A - Disability Insurance Questionnaire
Q9A - Life and Serenity Questionnaire
If it is a simplified issue policy, please attach to the F4A-05:
F2A - Alternative Application
F8A - Perspective Application
F11A - Alternative - Term Product Application
F32A - Transition Simplified Issue Application (if applicable)
F35A – Access Life Application
Policy terminated for 120 days or more:
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-05 – Reinstatement/Policy Not Placed and attach the required form(s) according to the product:
F3A - Addition of Coverage (if applicable)
Q4A - Critical Illness Questionnaire (if applicable)
Q6A - Disability Insurance Questionnaire (if applicable)
Q9A - Life and Serenity Questionnaire (if applicable)
If it is a simplified issue policy, please attach to the F4A-05:
F2A - Alternative Application (if applicable)
F8A - Perspective Application (if applicable)
F11A - Alternative - Term Product Application (if applicable)
F32A - Transition Simplified Issue Application (if applicable)
Individual Life Insurance
Page 66
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June 2017
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Signature preferable but not mandatory:
Insured’s signature (if aged 16 and over).
Fee(s)
Refer to Transaction Fees
Effective Date of Transaction
Upon approval and the date of termination.
Acknowledgement of Transaction
Confirmation of Transaction.
Last Revision Date
June 2017
Back
Individual Life Insurance
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June 2017
Extra Premium/Exclusion (Revision)
General Information
To have an occupational extra premium reconsidered:
Six months must have passed since the date of change to a less hazardous occupation.
The insured must have worked at this occupation for six consecutive months.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required (available for extra premium only) OR
F4A-07 – Extra Premium/Exclusion (Revision)
Please also provide the following form (s), if applicable:
F3A - Addition of Coverage
Q4A - for Critical Illness coverage
Q6A - for Disability coverage
Q9A - for Life and Serenity coverage
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Insured’s signature (if, aged 16 and over).
Fee(s)
N/A
Individual Life Insurance
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June 2017
Effective Date of Transaction
From the date the underwriting department has accepted the request:
Less then 10 days from the last monthly anniversary
Date of the last monthly anniversary, even if before the signature date.
More then 10 days after the last monthly anniversary:
Date of the next monthly anniversary.
Acknowledgement of Transaction
Endorsement – to be attached to the original contract.
Confirmation of Transaction.
Last Revision Date
June 2017
Back
Individual Life Insurance
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June 2017
Risk Class (Preferred/Elite)
General Information
Change in Risk Class can be reviewed two years following the last approval date.
This request can only be made on policy contracts issued if preferred underwriting was available at the
issue date and is still available and subject to the minimum insurance coverage requirements.
The age and premium rates at issue will be used, if the request is made within 5 years of the date of
issue.
Universal Life policies:
If prior to the request, the Target Premium and Minimum Premium are equal, the Target
Premium will be adjusted to the new Minimum Premium, following the transaction.
If prior to the request, the Target Premium is higher than the Minimum Premium, it is not
adjusted following the transaction. If the Policyowner wishes to change the Target Premium,
instruct us on the change request.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-07 – Risk Class (Change to Preferred, Elite)
F3A - Addition of Coverage
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Insured’s signature (if aged 16 and over).
Fee(s)
Refer to Transaction Fees
Effective Date of Transaction
The effective date of the change is the closest monthly anniversary following the approval date, as long
as it is not prior to the signature date of the form(s).
Individual Life Insurance
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June 2017
Acknowledgement of Transaction
Endorsement – to be attached to the original contract.
Confirmation of Transaction.
Last Revision Date
June 2017
Back
Individual Life Insurance
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June 2017
Survivorship Option
General Information
As of January 1st, 2017, the exercise of this right can only be done on a new policy for policies issued
prior to this date. The new policy will henceforth be subjected to the new tax rules.
The Survivorship Option is available for the Joint First to Die coverages and is limited to a specified
period of time with age restrictions. Refer to the policy contract for details of this option.
The new coverage will be at attained age, based on the original risk class and for a sum insured not to
exceed the original coverage.
The process will be completed following the settlement of the death claim.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F55-21A Death Claim – Claimant’s Statement, plus all or a combination of: F4A (special instructions
section), F1A & signed illustration (if applicable).
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
Insured’s signature is mandatory.
Fee(s)
None
Effective Date of Transaction
Upon receipt of the request at your Service Centre.
Acknowledgement of Transaction
Dependent on the scenario and will be a combination of any of the following:
Endorsement – to be attached to the original contract.
Confirmation of Transaction
Policy Contract
Confirmation of Issue
Policy Delivery Receipt
Individual Life Insurance
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June 2017
Last Revision Date
December 2016
Back
Individual Life Insurance
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June 2017
DISBURSEMENTS/CANCELLATIONS
Coupons - Withdrawal (Debentures Plan)
General Information
The policyowner may withdraw or use the coupons to pay up the contract for the full insurance amount
after 15 years.
The coupons do not have to be provided (if the policyowner no longer has them).
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F6A - Surrender, Loan, Dividends, Partial Withdrawal
Please also provide the following form (s), if applicable:
Assignment for collateral : a release of assignment OR the consent and seal from the financial
institution is required.
Bankruptcy / Seizure : provide the necessary documents to release the bankruptcy / seizure.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
The irrevocable/preferred beneficiary’s signature is required, if applicable. If the person is
deceased, the death certificate must be provided.
Fee(s)
None
Effective Date of Transaction
Upon receipt of the request at your Service Centre.
Individual Life Insurance
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June 2017
Acknowledgement of Transaction
Cheque - sent to the policyowner
Direct Deposit
Confirmation of Disbursement – Agent only (VCHRP004)
Cheque / Direct Deposit
Cheque :
The cheque is always addressed to the policyowner on the contract.
The cheque may not be sent to an address other then the policyowner’s
The cheque may not be sent to the agency.
Direct deposit:
Is available to the policyowner or the Borrower of an Investment Loan.
The policyowner or Borrower if applicable must complete and sign the F35-275A, submitting it with the
transaction request.
A personalized cheque specimen (VOID cheque) for the policyowner or Borrower must be attached.
The policyowner or Borrower in the case of an Investment Loan, must be the bank account holder and
only payee, otherwise the direct deposit will not be proceeded with and a cheque will be mailed.
If the banking information on file are the policyowner’s, the direct deposit can be made in the account
without having to provide the F35-275A form.
The disbursement will generally be deposited within 48 hours (2 business days) of completing the
transaction. However, this is not guaranteed due to possible delays from the client’s financial
institution.
We assume no liability in the case of errors for the instructions provided.
Last Revision Date
June 2017
Back
Individual Life Insurance
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June 2017
Dividends on Deposit - Withdrawal
General Information
If dividends on deposit are requested to be paid out in full, please advise if the option is to be changed
to “CASH” for future dividends.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F6A - Surrender, Loan, Dividends, Partial Withdrawal
Please also provide the following form (s), if applicable:
Assignment for collateral : a release of assignment OR the consent and seal from the financial
institution is required.
Bankruptcy / Seizure : provide the necessary documents to release the bankruptcy / seizure.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Fee(s)
None
Effective Date of Transaction
Upon receipt of the request at your Service Centre.
Acknowledgement of Transaction
Direct Deposit
Confirmation of Disbursement – Agent only (VCHRP004)
Individual Life Insurance
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June 2017
Cheque / Direct Deposit
Cheque :
The cheque is always addressed to the policyowner on the contract.
The cheque may not be sent to an address other then the policyowner’s
The cheque may not be sent to the agency.
Direct deposit:
Is available to the policyowner or the Borrower of an Investment Loan.
The policyowner or Borrower if applicable must complete and sign the F35-275A, submitting it with the
transaction request.
A personalized cheque specimen (VOID cheque) for the policyowner or Borrower must be attached.
The policyowner or Borrower in the case of an Investment Loan, must be the bank account holder and
only payee, otherwise the direct deposit will not be proceeded with and a cheque will be mailed.
If the banking information on file are the policyowner’s, the direct deposit can be made in the account
without having to provide the F35-275A form.
The disbursement will generally be deposited within 48 hours (2 business days) of completing the
transaction. However, this is not guaranteed due to possible delays from the client’s financial
institution.
We assume no liability in the case of errors for the instructions provided.
Last Revision Date
June 2017
Back
Individual Life Insurance
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June 2017
Future Premiums on Deposit (FPD) - Withdrawal
General Information
A total withdrawal of the FPD can be processed at any time. If the withdrawal is processed at a time
other than at the five-year anniversary of the deposit, it is subject to a market value adjustment.
A partial withdrawal of the FPD can only be processed at the five-year anniversary of the FPD, while
conserving the minimum required of $500.00.
There is no market value adjustment (MVA) for a withdrawal processed within 30 days following the
five-year anniversary of the FPD.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F6A - Surrender, Loan, Dividends, Partial Withdrawal
Please also provide the following form (s), if applicable:
Assignment for collateral : a release of assignment OR the consent and seal from the financial
institution is required.
Bankruptcy / Seizure : provide the necessary documents to release the bankruptcy / seizure.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Fee(s)
None
Effective Date of Transaction
Upon receipt of the request at your Service Centre.
Acknowledgement of Transaction
Direct Deposit
Individual Life Insurance
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June 2017
Cheque / Direct Deposit
Cheque :
The cheque is always addressed to the policyowner on the contract.
The cheque may not be sent to an address other then the policyowner’s
The cheque may not be sent to the agency.
Direct deposit:
Is available to the policyowner or the Borrower of an Investment Loan.
The policyowner or Borrower if applicable must complete and sign the F35-275A, submitting it with the
transaction request.
A personalized cheque specimen (VOID cheque) for the policyowner or Borrower must be attached.
The policyowner or Borrower in the case of an Investment Loan, must be the bank account holder and
only payee, otherwise the direct deposit will not be proceeded with and a cheque will be mailed.
If the banking information on file are the policyowner’s, the direct deposit can be made in the account
without having to provide the F35-275A form.
The disbursement will generally be deposited within 48 hours (2 business days) of completing the
transaction. However, this is not guaranteed due to possible delays from the client’s financial
institution.
We assume no liability in the case of errors for the instructions provided.
Last Revision Date
June 2017
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Individual Life Insurance
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June 2017
Loan – Investor Plus
General Information
Refer to contract provisions with regards to the maximums available and the applicable interest rates.
Interest billed annually.
The granting of a loan is a disposition according to the Income Tax Act and can result into a taxable
gain. This situation occurs when the balance of the loan, including the new loan, exceeds the ACB.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F6A - Surrender, Loan, Dividends, Partial Withdrawal.
Please also provide the following form (s), if applicable:
Assignment for collateral : a release of assignment OR the consent and seal from the financial
institution is required.
Bankruptcy / Seizure : provide the necessary documents to release the bankruptcy / seizure.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
The irrevocable/preferred beneficiary’s signature is required, if applicable. If the person is
deceased, the death certificate must be provided.
If the policy is assigned for collateral security, a release of assignment OR the consent and seal
from the financial institution is required.
If we have a notice of bankruptcy, provide the necessary documents to release the bankruptcy.
If we have a notice of seizure, provide the necessary documents to release the seizure.
Fee(s)
Refer to Transaction Fees
Effective Date of Transaction
Upon receipt of the request at your Service Centre plus 2 business days.
A minimum of 10 days from receipt of deposit (unless certified cheque or bank draft).
Individual Life Insurance
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June 2017
Acknowledgement of Transaction
Direct Deposit
Cheque / Direct Deposit
Cheque :
The cheque is always addressed to the policyowner on the contract.
The cheque may not be sent to an address other then the policyowner’s
The cheque may not be sent to the agency.
Direct deposit:
Is available to the policyowner or the Borrower of an Investment Loan.
The policyowner or Borrower if applicable must complete and sign the F35-275A, submitting it with the
transaction request.
A personalized cheque specimen (VOID cheque) for the policyowner or Borrower must be attached.
The policyowner or Borrower in the case of an Investment Loan, must be the bank account holder and
only payee, otherwise the direct deposit will not be proceeded with and a cheque will be mailed.
If the banking information on file are the policyowner’s, the direct deposit can be made in the account
without having to provide the F35-275A form.
The disbursement will generally be deposited within 48 hours (2 business days) of completing the
transaction. However, this is not guaranteed due to possible delays from the client’s financial
institution.
We assume no liability in the case of errors for the instructions provided.
Additional Information
For Flex Account products use Form 7480.
Last Revision Date
June 2017
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Individual Life Insurance
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June 2017
Loan – IRIS Investment
General Information
Refer to the guidelines on the Extranet.
Interest billed annually.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F13-674A - Application for Investment Loan and Loan Agreement (Initial Investment Loan).
Instructions for a request to increase an investment loan & Loan Agreement Rider (Subsequent
Investment Loan).
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
Policy must be assigned to IA and no Irrevocable Beneficiary designation accepted (refer to IRIS
Guide for required signature(s)).
Fee(s)
Refer to Transaction Fees
Effective Date of Transaction
Once all requirements are received, the investment loan is approved and a minimum of 10 days from
receipt of deposit (unless certified cheque or bank draft).
Acknowledgement of Transaction
Copy of Agreement, Application, Cheque or Direct Deposit, Duplicate Contract (Initial Investment
Loan).
Copy of Agreement Rider, Application, Cheque or Direct Deposit (Subsequent Investment Loan).
Individual Life Insurance
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June 2017
Cheque / Direct Deposit
Cheque :
The cheque is always addressed to the policyowner on the contract.
The cheque may not be sent to an address other then the policyowner’s
The cheque may not be sent to the agency.
Direct deposit:
Is available to the policyowner or the Borrower of an Investment Loan.
The policyowner or Borrower if applicable must complete and sign the F35-275A, submitting it with the
transaction request.
A personalized cheque specimen (VOID cheque) for the policyowner or Borrower must be attached.
The policyowner or Borrower in the case of an Investment Loan, must be the bank account holder and
only payee, otherwise the direct deposit will not be proceeded with and a cheque will be mailed.
If the banking information on file are the policyowner’s, the direct deposit can be made in the account
without having to provide the F35-275A form.
The disbursement will generally be deposited within 48 hours (2 business days) of completing the
transaction. However, this is not guaranteed due to possible delays from the client’s financial
institution.
We assume no liability in the case of errors for the instructions provided.
Last Revision Date
June 2017
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Individual Life Insurance
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June 2017
Loan
General Information
Refer to contract provisions with regards to the maximums available and the applicable interest rates.
Interest is billed annually.
For universal life the interest is capitalized monthly.
The granting of a loan is a disposition according to the Income Tax Act and can result into a taxable
gain. This situation occurs when the balance of the loan, including the new loan, exceeds the ACB.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F6A - Surrender, Loan, Dividends, Partial Withdrawal
Please also provide the following form (s), if applicable:
Assignment for collateral : a release of assignment OR the consent and seal from the financial
institution is required.
Bankruptcy / Seizure : provide the necessary documents to release the bankruptcy / seizure.
Acceptable Means for Submitting the Request
Signed request by policyowner(s) via email, fax or written.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
The irrevocable/preferred beneficiary’s signature is required, if applicable. If the person is
deceased, the death certificate must be provided.
Fee(s)
Refer to Transaction Fees
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June 2017
Effective Date of Transaction
At the date of reception at the service center (plus 2 business days for the universal life policies).
Acknowledgement of Transaction
Direct Deposit
Cheque / Direct Deposit
Cheque :
The cheque is always addressed to the policyowner on the contract.
The cheque may not be sent to an address other then the policyowner’s
The cheque may not be sent to the agency.
Direct deposit:
Is available to the policyowner or the Borrower of an Investment Loan.
The policyowner or Borrower if applicable must complete and sign the F35-275A, submitting it with the
transaction request.
A personalized cheque specimen (VOID cheque) for the policyowner or Borrower must be attached.
The policyowner or Borrower in the case of an Investment Loan, must be the bank account holder and
only payee, otherwise the direct deposit will not be proceeded with and a cheque will be mailed.
If the banking information on file are the policyowner’s, the direct deposit can be made in the account
without having to provide the F35-275A form.
The disbursement will generally be deposited within 48 hours (2 business days) of completing the
transaction. However, this is not guaranteed due to possible delays from the client’s financial
institution.
We assume no liability in the case of errors for the instructions provided.
Additional Information
For Flex Account products, it may be necessary to also complete a F10A form to transfer funds to
either the DIA or GIA accounts.
Last Revision Date
June 2017
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June 2017
Partial Withdraw al – Universal Life
General Information
A partial withdrawal on a life insurance policy is considered as a disposition under the provisions of the
income tax law, and therefore, can lead to a taxable gain. This situation occurs when the surrender
value exceeds the ACB.
The shuttle fund, that is not tax-sheltered, is always withdrawn before the accumulation fund.
Surrender charges may be applicable (please refer to the wording of the contract).
A market value adjustment may be applicable (please refer to the wording of the contract).
Transactions fees are deducted from the accumulation fund. Transaction Fees
The amount of Maximum Partial Withdrawal Allowed could be adjusted downwards if a monthly
anniversary occurs between the date of the request and the date on which the partial withdrawal is
processed.
If non-resident, non-resident tax withholding will apply on any taxable gain according to CRA.
For Face amount only option or face amount + premiums refund, a reduction in the sum insured will
apply once the total cumulative partials exceed $1,000.00 on a cumulative basis. A F3A & satisfactory
evidence will be required to maintain the original sum insured (refer to contract stipulations).
If a Limited Trading Authorization (LTA) exists, the current irrevocable beneficiary must match the
irrevocable beneficiary on the LTA.
If the withdrawn amount has to be transferred to a contract that belongs to a different owner, their
signature is mandatory even if there is an LTA on file.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F6A - Surrender, Loan, Dividends, Partial Withdrawal OR
F10A - Universal Life Investment/Withdrawal Request.
Please also provide the following form (s), if applicable:
Assignment for collateral : a release of assignment OR the consent and seal from the financial
institution is required.
Bankruptcy / Seizure : provide the necessary documents to release the bankruptcy / seizure.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature or Agent (must be active) with valid Limited Trading Authorization
(LTA).
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
The irrevocable/preferred beneficiary’s signature is required, if applicable. If the person is
Individual Life Insurance
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June 2017
deceased, the death certificate must be provided.
Fee(s)
Refer to Transaction Fees
Effective Date of Transaction
Upon receipt of the complete and duly signed request at your Service Centre plus 2 business days.
Acknowledgement of Transaction
Direct Deposit
Confirmation of Transaction for universal life policies.
Endorsement/Specification Pages – for decrease of sum insured only.
Notice of Taxable Gain, if applicable.
Cheque / Direct Deposit
Cheque :
The cheque is always addressed to the policyowner on the contract.
The cheque may not be sent to an address other then the policyowner’s
The cheque may not be sent to the agency.
Direct deposit:
Is available to the policyowner or the Borrower of an Investment Loan.
The policyowner or Borrower if applicable must complete and sign the F35-275A, submitting it with the
transaction request.
A personalized cheque specimen (VOID cheque) for the policyowner or Borrower must be attached.
The policyowner or Borrower in the case of an Investment Loan, must be the bank account holder and
only payee, otherwise the direct deposit will not be proceeded with and a cheque will be mailed.
If the banking information on file are the policyowner’s, the direct deposit can be made in the account
without having to provide the F35-275A form.
The disbursement will generally be deposited within 48 hours (2 business days) of completing the
transaction. However, this is not guaranteed due to possible delays from the client’s financial
institution.
We assume no liability in the case of errors for the instructions provided.
Last Revision Date
June 2017
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June 2017
Premium Credit – Coverage for a Mortgage Loan
General Information
When replacing a life or mortgage disability insurance from a financial institution by one of our
individual life insurance products, upon receipt of proof of payment of the mortgage insurance from the
financial institution, we will apply a credit to the new policy.
A single monthly premium is granted as a premium credit.
Form(s) Available on Extranet and Required Document(s)
Written request.
Proof of payment of the mortgage insurance.
Acceptable Means for Submitting the Request
Request by email, fax or by mail.
Signature(s) Required
The policyowner(s) signature OR
The agent’s signature.
Effective Date of Transaction
Reception date at your service centre.
Acknowledgement of Transaction
Email to the agency.
Last Revision Date
December 2016
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June 2017
Surrender/Cancellation – Traditional Policy
General Information
No pro-rated premium refund for monthly.
If PAC withdrawn before the receipt of the request, and due in the future, it will be refunded (if clears
account).
If policyowner is a non-resident, non-resident tax withholding will apply on any taxable gain according
to CRA.
If a registered life policy, tax withholding will apply according to CRA, unless the funds are transferred
to another registered contract.
The client wishes to transfer the amount to another banking institution, the form T-2033 (From
the federal government) is required.
The client wishes to transfer the amount into a registered contract with IA (Ecoflex), He must
have less than 71 years of age.
The surrender of a policy is a disposition according to the Income Tax Act and can result into a taxable
gain. This situation occurs when the surrender value exceeds the ACB.
If there is a future deposit of premiums (FDP) on the contract, a market value adjustment may apply. If
a surrender of the FDP is done at a time other then the five year anniversary of the deposit.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F6A - Surrender, Loan, Dividends, Partial Withdrawal
Please also provide the following form (s), if applicable:
Assignment for collateral : a release of assignment OR the consent and seal from the financial
institution is required.
Bankruptcy / Seizure : provide the necessary documents to release the bankruptcy / seizure.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
The irrevocable/preferred beneficiary’s signature is required, if applicable. If the person is deceased
the death certificate must be provided.
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June 2017
Fee(s)
None
Effective Date of Transaction
Upon receipt of the request at your Service Centre.
Acknowledgement of Transaction
Direct Deposit
Notice of Taxable Gain if applicable (for full surrender/cancellation, the notice includes the opportunity
to Reinstate – surrender/cancellation cheque must be returned uncashed).
Confirmation of Disbursement – Agent only (VCHRP004) applies to Traditional with Cash Surrender
Value or premium refund OR universal life with Cash Surrender Value.
Termination Notice sent to the policyowner, to the agent of record.
Cheque / Direct Deposit
Cheque :
The cheque is always addressed to the policyowner on the contract.
The cheque may not be sent to an address other then the policyowner’s
The cheque may not be sent to the agency.
Direct deposit:
Is available to the policyowner or the Borrower of an Investment Loan.
The policyowner or Borrower if applicable must complete and sign the F35-275A, submitting it with the
transaction request.
A personalized cheque specimen (VOID cheque) for the policyowner or Borrower must be attached.
The policyowner or Borrower in the case of an Investment Loan, must be the bank account holder and
only payee, otherwise the direct deposit will not be proceeded with and a cheque will be mailed.
If the banking information on file are the policyowner’s, the direct deposit can be made in the account
without having to provide the F35-275A form.
The disbursement will generally be deposited within 48 hours (2 business days) of completing the
transaction. However, this is not guaranteed due to possible delays from the client’s financial
institution.
We assume no liability in the case of errors for the instructions provided.
Conditional Surrender Upon the Issuing/Change of Another Contract
Submit the F6A along with the Life Application; Investment Application; Request for Change.
All or part of the surrender value of a contract may be transferred if it is used to:
Make deposits in the accumulation fund of a universal life policy.
Make deposits in an annuity contract.
Make deposits on future premiums in a life insurance contract.
Pay premiums in advance.
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June 2017
The deposit must satisfy the conditions of the contract to which it is transferred.
For a conditional surrender, part of the surrender value can be used to directly pay the first premium of
the new policy and a cheque is generated to the policyowner for the remaining amount.
The Interim Insurance Agreement of the proposed application is null and must be striped if the
surrender value of the old contract is used to pay the first premium of the new application.
The surrender of a policy that is conditional upon the issuing of a new insurance policy or an addition
to an existing contract is effective in the acceptance month of the new policy but at the anniversary day
of the old policy, to avoid an overlap or gap in premium payment during this month.
However, should the risk on the existing coverage be greater than the risk of the new policy, the effective
date of the surrender/cancellation will be effective as of the month in which the new coverage takes effect
(i.e. backdated effective date), we will partially terminate an amount equivalent to the risk assumed under
the new policy. The balance of the existing coverage will be terminated currently.
Ex:
Policy X was issued on July 1, 1998. Under this policy, John is insured for $750,000 and
Mary for $500,000.
A new application (Policy Y), for $500,000 on John’s life, is submitted to replace policy X
above.
Policy Y is approved on January 17, 2009 and backdated to September 1, 2008, at the
client’s request to conserve age.
Policy X will be terminated in two steps: - John’s coverage will be reduced by $500,000
effective September, 2008, leaving $250,000 in force until January 1, 2009, when it is
subsequently terminated. Mary’s coverage will be terminated effective January 1, 2009.
This process ensures that the clients pay for the protection they have received.
Disclosure Statement
Required if a new policy has been issued in the past 3 months (applies to both internal and external
replacements and partial withdrawals resulting in a reduction in coverage).
Last Revision Date
June 2017
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June 2017
Surrender / Cancellation – Universal Life Policy
General Information
If a PAC is withdrawn after the reception date of the request, it will be refunded (if clears account).
The monthly cost of insurance (COI) is reversed if the monthly anniversary is processed after the
reception date of the request.
If non-resident, non-resident tax withholding will apply on any taxable gain according to CRA.
If registered life policy, tax withholding will apply according to CRA, unless the funds are transferred to
another registered contract.
The client wishes to transfer the amount to another banking institution, the form T-2033 ( From
the federal government) is required.
The client wishes to transfer the amount into a registered contract with IA (Écoflex), He must
have less than 71 years of age.
The surrender of a policy is a disposition according to the Income Tax Act and can result into a taxable
gain. This situation occurs when the surrender value exceeds the ACB.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F6A - Surrender, Loan, Dividends, Partial Withdrawal
Please also provide the following form (s), if applicable:
Assignment for collateral : a release of assignment OR the consent and seal from the financial
institution is required.
Bankruptcy / Seizure : provide the necessary documents to release the bankruptcy / seizure.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
The irrevocable/preferred beneficiary’s signature is required, if applicable. If the person is
deceased, the death certificate must be provided.
Fee(s)
Refer to Transaction Fees
Individual Life Insurance
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June 2017
Effective Date of Transaction
Upon receipt of the request at your Service Centre plus 2 business days.
Acknowledgement of Transaction
Direct Deposit
Notice of Taxable Gain if applicable (for full surrender/cancellation, the notice includes the opportunity
to Reinstate – surrender/cancellation cheque must be returned uncashed).
Confirmation of Disbursement – Agent only (VCHRP004) applies to traditional with cash surrender
value or premium refund OR universal life with cash surrender value.
Termination Notice sent to the policyowner, to the agent of record.
Cheque / Direct Deposit
Cheque :
The cheque is always addressed to the policyowner on the contract.
The cheque may not be sent to an address other then the policyowner’s
The cheque may not be sent to the agency.
Direct deposit:
Is available to the policyowner or the Borrower of an Investment Loan.
The policyowner or Borrower if applicable must complete and sign the F35-275A, submitting it with the
transaction request.
A personalized cheque specimen (VOID cheque) for the policyowner or Borrower must be attached.
The policyowner or Borrower in the case of an Investment Loan, must be the bank account holder and
only payee, otherwise the direct deposit will not be proceeded with and a cheque will be mailed.
If the banking information on file are the policyowner’s, the direct deposit can be made in the account
without having to provide the F35-275A form.
The disbursement will generally be deposited within 48 hours (2 business days) of completing the
transaction. However, this is not guaranteed due to possible delays from the client’s financial
institution.
We assume no liability in the case of errors for the instructions provided.
Conditional Surrender Upon the Issuing/Change of Another Contract
Submit the F6A along with the Life Application; Investment Application; Request for Change.
All or part of the surrender value of a contract may be transferred if it is used to:
Make deposits in the accumulation fund of a universal life policy.
Make deposits in an annuity contract.
Make deposits on future premiums in a life insurance contract.
Pay premiums in advance.
The deposit must satisfy the conditions of the contract to which it is transferred.
For a conditional surrender, part of the surrender value can be used to directly pay the first premium of
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June 2017
the new policy and a cheque is generated to the policyowner for the remaining amount.
The Interim Insurance Agreement of the proposed application is null and must be striped if the
surrender value of the old contract is used to pay the first premium of the new application.
The surrender of a policy that is conditional upon the issuing of a new insurance policy or an addition
to an existing contract is effective in the acceptance month of the new policy but at the anniversary day
of the old policy, to avoid an overlap or gap in premium payment during this month.
However, should the risk on the existing coverage be greater than the risk of the new policy, the effective
date of the surrender/cancellation will be effective as of the month in which the new coverage takes effect
(i.e. backdated effective date), we will partially terminate an amount equivalent to the risk assumed under
the new policy. The balance of the existing coverage will be terminated currently.
Ex:
Policy X was issued on July 1, 1998. Under this policy, John is insured for $750,000 and
Mary for $500,000.
A new application (Policy Y), for $500,000 on John’s life, is submitted to replace policy X
above.
Policy Y is approved on January 17, 2009 and backdated to September 1, 2008, at the
client’s request to conserve age.
Policy X will be terminated in two steps: - John’s coverage will be reduced by $500,000
effective September, 2008, leaving $250,000 in force until January 1, 2009, when it is
subsequently terminated. Mary’s coverage will be terminated effective January 1, 2009.
This process ensures that the clients pay for the protection they have received.
Disclosure Statement
Required if a new policy has been issued in the past 3 months (applies to both internal and external
replacements and partial withdrawals resulting in a reduction in coverage).
Last Revision Date
June 2017
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June 2017
GENERAL INFORMATION
Acceptable Methods for the Payment of a Premium
General Information
A personal cheque from the policyowner that is payable to the Company (payable to Industrial
Alliance).
A business cheque from the policyowner that is payable to the Company (payable to Industrial
Alliance). The individual who signs the cheque must be the one designated in the Company minutes.
A cheque from another financial institution that is payable to the company (payable to Industrial
Alliance), to be deposited into the client’s contract.
Money Orders and Bank Drafts are not acceptable methods of payment.
Last Revision Date
May 2013
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June 2017
Client Complaint
General Information
Please refer to the iA Financial Group website under:
 Contact Customer Service
 Please select topic → Complaints
 Display information and follow the instructions.
Last Revision Date
December 2016
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June 2017
General Inquiries
General Information
Information may only be provided to the Policyowner(s), and/or the current Agent/Agency/Managing
General Agency (MGA) of record (as well as the appropriate administrative staff).
In order to release information to anyone other than the above, a signed and dated Letter of
Authorization (LOA) from the Policyowner(s) is required.
Release of medical information is communicated via the Underwriter, to the Life Insured’s Doctor, upon
a written, signed and dated request from the life insured.
Both verbal and written (mail, fax & e-mail) inquiries for policy information are accepted. However, if
the information being requested is available on the Extranet, the agent/agency will be referred to the
Extranet or their MGA for assistance, while Policyowners will be referred to the Agent or CyberClient.
Last Revision Date
May 2013
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June 2017
Index Account Management – Deposits / PAC
General Information
General principle
The general principle is that investments/divestments resulting from an external transaction (deposit, transfer
request, partial withdrawal…) will now take effect 2 business days after the reception date of the deposit or
transaction request, as the case may be.
Every evening, we will compile all the investments/divestments to be made for each of the index accounts.
The next day, transactions for securities, financial instruments and other underlying index account assets will
be carried out. Since we don’t get the indexes for the previous day’s closing until the following day, the
transactions will take effect at that time.
In brief, whether a transaction is planned in advance or not determines whether it is deferred for 2 business
days or not.
All unforeseeable transactions having a direct or indirect impact on investments are deferred for 2 business
days: investment or reinvestment requests, investments resulting from a deposit, investment surrender
requests, partial withdrawals, contract surrenders, policy loans, changes to the investment instructions (AII),
deposits other than PACs.
Internal transactions that are by nature foreseeable will not be deferred 2 business days: automatic
investments in accordance with the AII (other than on reception of a deposit), guaranteed interest account
maturity that is reinvested in accordance with the AII, automatic investment surrender to cover monthly fees,
automatic transfer from the accumulation fund to the shuttle fund or vice versa.
Processing transactions
The following table illustrates how transactions having an impact on index accounts will be processed. This
is how we will process transactions until further notice. This management method may change over
time.
Deposit - cheque from the client:
The deposit is applied to the contract on the same day that it is received with an effective date 2
business days after the reception date unless the deposit is the payment of a first premium or that
the deposit is used to pay an amount in arrears.
Change of investment instructions (AII):
The request to change automatic investment instructions will be dated manually 2 business days
after the request is received.
Request to invest or transfer investment accounts (surrender of accounts to be reinvested in
other accounts):
These requests will be dated manually 2 business days after the date Head Office receives the
request.
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June 2017
Not placed:
The premiums received are reimbursed at their market value according to the terms of the contract.
Gains and losses under $50 are not charged or paid. This amount is subject to change without
notice.
Surrenders and partial withdrawals:
These requests will be dated manually 2 business days after the date Head Office receives the
request.
Contract modifications:
When there is a plan change request (in the 13 months that follow the effective date of the
contract), all losses on investments are charged to the client and the residual premiums are applied
to the new plan.
New business:
The deposit submitted with the application is only invested in the index accounts when the contract
is accepted and issued.
PAC deposit:
The deposit is applied to the contract on the normal retirement date and the resulting investments
are made on the field.
Returned cheques:
The deposits are cancelled retroactively to their reception date and the Company generally
assumes the gains and losses but reserves the right to charge any losses to the client.
Automatic investments according to the AII:
Automatic investments according to the AII take effect immediately unless they result from a new
deposit or another external transaction. They will be taken into account in the parallel cycle and
will not escape the matching control.
Automatic transfers from the accumulation fund to the shuttle fund or vice versa:
These transfers can be foreseen and consequently, are not subject to the 2-business day waiting
period. They take effect on the same day. They will be taken into account in the parallel cycle and
will not escape the matching control.
Monthly deductions to pay the costs of insurance and fees:
Deductions from the investment accounts to cover the monthly costs of insurance and fees can be
foreseen and are not subject to the 2-business day waiting period. They take effect on the same
day. They will be taken into account in the parallel cycle and will not escape the matching control
previewed.
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June 2017
Last Revision Date
May 2013
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June 2017
Returned Mail “Unknown Address”
General Information
Original “returned mail item” will be sent to the Agency, with a request to redirect mail to the client and
provide the applicable service centre with the new address.
Agent copies of future notices will continue to be sent, marked as “unknown address”, until a current
address is provided to the Service Centre.
Memo sent by Service Centre requesting that a new address be provided for the policyowner and the
attached returned mail be redirected to the policyowner.
Last Revision Date
May 2013
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June 2017
Signature Requirements
General Information
Policyowner (Individual basis) – as appears on proof of signature document(s) I.E. Drivers Licence,
Passport, etc.
Policyowner (Joint basis) – must include signatures in full for all joint owners as appears on proof of
signature document(s) I.E. Drivers Licence, Passport, etc.
Policyowner (Company basis) – must include at minimum, two signing officers or one and the
Company Seal, except for Alberta, where only one signature is required. Preference is to include the
Company name and Title(s) below the signature(s). Proof of signatories will be required, and include
Company minutes or shareholders resolution.
Signature by mark « X »
When a client signs a request with a mark “X” and the representative signs as a witness, there are
no other requirements.
When a client signs a request with a mark “X” and a person other than the representative signs as
a witness, according to the client’s ability to read the document, one of the following affidavits must
also be completed:
 Affidavit – Signature by mark – Individual able to read
 Affidavit – Signature by mark – Individual unable to read
Form(s) Available on Extranet and Required Document(s)
Available in Extranet under the following tab: Individual Insurance / Forms / Policyowner Services
Affidavit – Signature by mark – Individual able to read
Affidavit – Signature by mark – Individual unable to read
Last Revision Date
March 2015
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June 2017
INVESTMENT TRANSACTIONS
Additional Deposits (Universal Life)
General Information
Deposits received without instructions, as well as PAC and internet payments, are invested according
to the Automatic Investment Instructions (AII).
For commission purposes: If the deposit has an effective date within 20 days of the next policy
anniversary, it will first be used to complete the minimum annual premium for the current policy year,
then to cover the minimum annual premium of the next policy year. Any excess amounts will be
applied to the current policy year.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F10A - Universal Life Investment/Withdrawal Request
Please also provide the following form (s), if applicable:
F51-208A – Confirmation of Identity is mandatory for deposits of $100,000 and more (for individuals
only, not applicable to companies).
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
Additional deposit with investment instructions:
The policyowner(s) signature OR Agent with valid Limited Trading Authorization (LTA).
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Additional deposit without investment instructions :
Signature not required.
Fee(s)
None
Effective Date of Transaction
Two business days after the date received at your Service Centre.
Individual Life Insurance
Page 103
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June 2017
Acknowledgement of Transaction
Confirmation of an universal life policy transaction
Deposit (minimum $500).
Investment Surrender.
Investment Maturity.
Investment (minimum amount of $500).
Automatic transfer from Shuttle Fund to Accumulation Fund.
Automatic premium loan.
Last Revision Date
June 2017
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Individual Life Insurance
Page 104
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June 2017
Automatic Investment Instructions (AII) - Change
General Information
Fill out the percentages in the investment instructions, with a maximum of 10 different accounts. The
total must equal 100%.
If no instructions are given when the policy is issued, the diversified account will be automatically
chosen by default.
The instructions apply only to future investments and do not change the present investments in the
contract.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F10A - Universal Life Investment/Withdrawal Request
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature OR Agent with valid Limited Trading Authorization (LTA).
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Fee(s)
None
Effective Date of Transaction
Two business days after the date received at your Service Centre.
Acknowledgement of Transaction
No confirmation produced for this transaction, results can be reviewed using the Extranet.
Last Revision Date
June 2017
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Individual Life Insurance
Page 105
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June 2017
Designated Deduction Accounts (DDA) - Change
General Information
Available to universal life products.
The Designated Deduction Accounts (DDA) enables the costs of insurance and the policy fees to be
deducted from certain investment accounts when these costs cannot be covered by the Portfolio
Account (where applicable).
The DDA’s are also used for the withdrawals made from the accumulation fund ( ie: partial
withdrawals, loans etc..) if the client did not provide specific instructions.
The portfolio account and daily interest account (DIN or FIQ) are not available accounts for DDA.
No more than 10 investment accounts can be designated as DDA. Deductions are made according to
the percentages indicated on the application for insurance, or when any subsequent changes were
made.
The deduction percentages under the DDA may be different from those specified for the AII.
If no DDA was specified on the application for insurance, by default, it will be the same as the current
AII. For previous Seaboard Life and National Life products, pro-rata from all active investment
accounts).
If the accounts selected for the DDA do not have sufficient funds to cover the deductions, we will
withdraw the deductions proportionately from all the investment accounts in the Accumulation Fund.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F10A - Universal Life Investment/Withdrawal Request
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature OR servicing agent (must be active) with Limited Trading
Authorization (LTA).
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Fee(s)
None
Effective Date of Transaction
Two business days after the date received at your Service Centre.
Individual Life Insurance
Page 106
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June 2017
Acknowledgement of Transaction
No confirmation produced for this transaction, results can be reviewed using the Extranet.
Last Revision Date
June 2017
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Individual Life Insurance
Page 107
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June 2017
Investment Accounts
General Information
This information is available on Extranet/CyberClient under the tab titled Surrender Value / Funds,
Investment Options. This tab contains a complete list of the investment options applicable to each
policy.
Please refer to the Company(s) WebSite for the related Investment Fund Options according to the
Product type.
Additional Information
Frequent Transactions
The Company reserves the right to charge transaction fees, at any time, representing 2% of the
amount of the transaction if surrenders or transfers between investment accounts are requested more
than once a year, or within 60 days following the date of investment.
The Company also reserves the right to modify the transaction fees at any time.
Last Revision Date
September 2008
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Individual Life Insurance
Page 108
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June 2017
Investment Transfer of Funds (U.L.)
General Information
Complete the “FORM” section to specify which accounts are being surrendered and the “TO” section to
specify where the funds are being reinvested.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F10A - Universal Life Investment/Withdrawal Request
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature OR Agent with valid Limited Trading Authorization (LTA).
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Fee(s)
None
Effective Date of Transaction
Two business days after the date received at your Service Centre.
Acknowledgement of Transaction
Confirmation of UL Transaction
Deposit (minimum $500).
Investment Surrender.
Investment Maturity.
Investment (minimum amount of $500).
Automatic transfer from Shuttle Fund to Accumulation Fund.
Automatic premium loan.
Individual Life Insurance
Page 109
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June 2017
Additional Information
Frequent Transactions
The Company reserves the right to charge transaction fees, at any time, representing 2% of the
amount of the transaction if surrenders or transfers between investment accounts are requested more
than once a year, or within 60 days following the date of investment.
The Company also reserves the right to modify the transaction fees at any time.
Last Revision Date
May 2013
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Individual Life Insurance
Page 110
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June 2017
Limited Trading Authorization (LTA)
General Information
By signing the LTA, the Agent acknowledges that he/she has reviewed the terms with the Policyowner
and consents to abide by and act in compliance with the terms of the LTA.
It is very important to note that at no time does the LTA authorize an agent to give the Company any
instructions without having first obtained the client’s specific authorization. This authorization can be
obtained by phone, fax, e-mail, etc. The agent must keep a record of this contact in the client’s file.
As indicated in Section 1 of Part C of the LTA, a client authorizes an agent to provide instructions in
writing to the Company on his/her behalf and to sign any relevant documents associated with the
permitted transactions listed in Part B of the LTA form in accordance with his/her specific instructions
for each transaction.
The pre-printed text of the LTA cannot be modified either by the addition or deletion of anything. This
means, for example, that a client cannot instruct the Company, on an LTA or anywhere else, to accept
a transaction from his/her agent without a specific instruction from the client to the agent. Moreover,
the agent is prohibited from conducting discretionary trading.
The fact that the client receives an investment confirmation following any changes does not constitute
a specific instruction by the client.
Should an agent forward to the Company massive fund transfers using LTAs, the Company may, at its
sole discretion, refuse to accept or process transactions under this Trading Authorization. In such a
situation, the Company may require proof of the client’s specific authorization before processing any of
the transfers.
The Limited Trading Authorization allows the agent to submit the following transactions in the client’s
name without having to get his/her signature (within the policies covered by the Limited Trading
Authorization (LTA)):
new premiums/deposits;
renewals guaranteed interest term investments;
fund switches within the same policy/allocating & transferring monies between accounts;
partial withdrawals.
automatic investment instructions
Form(s) Available on Extranet and Required Document(s)
F51-201A Limited Trading Authorization (LTA)
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Individual Life Insurance
Page 111
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June 2017
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Servicing agent’s signature (must be active)
If applicable, the irrevocable/preferred beneficiary’s signature is required. If the person is deceased,
the death certificate must be provided.
Fee(s)
None
Effective Date of Transaction
Upon receipt of the request at your Service Centre.
Acknowledgement of Transaction
N/A
Last Revision Date
May 2013
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Individual Life Insurance
Page 112
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June 2017
Rebalance Accounts
General Information
Complete only the “TO” section. Rebalancing means that all the Investment Accounts are surrendered
and reallocated according to the new instructions given in the “TO” section. If some accounts are to be
excluded, please check the “Investment Transfer” box instead and specify the Investment Accounts to
be surrendered in the “FROM” section and reallocated according to the “TO” section.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F10A - Universal Life Investment/Withdrawal Request
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature or Agent with valid Limited Trading Authorization (LTA).
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of an authorized person and the company’s
resolution designating the authorized signatories are required.
Fee(s)
None
Effective Date of Transaction
Two business days after the date received at your Service Centre.
Acknowledgement of Transaction
Confirmation of UL Transaction
Deposit (minimum $500).
Investment Surrender.
Investment Maturity.
Investment (minimum amount of $500).
Automatic transfer from Shuttle Fund to Accumulation Fund.
Automatic premium loan.
Individual Life Insurance
Page 113
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June 2017
Additional Information
Frequent Transactions
The Company reserves the right to charge transaction fees, at any time, representing 2% of the
amount of the transaction if surrenders or transfers between investment accounts are requested more
than once a year, or within 60 days following the date of investment.
The Company also reserves the right to modify the transaction fees at any time.
Last Revision Date
May 2013
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Individual Life Insurance
Page 114
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June 2017
Policy Delivery (Placement & Non Placement)
Policy Delivery Instructions
General Information
The policy must be delivered to the client in person (not by mail).
If the policy is issued with a future date, the agent must wait for the effective date before delivering
the policy.
A document POLICY DELIVERY INSTRUCTIONS accompanies every issued contract to indicate to
the agent the outstanding documents/requirements and the required delivery date.
The outstanding documents/requirements must be returned (completed and signed) as indicated on
the document, either:
Receipt for Delivery of Contract: complete the section concerned, either:
Contract Accepted and Returned for Modification
Contract Delivered and Accepted
Contract Refused by Applicant(s)
Amendment and/or Declaration of Insurability
Premiums: refer to the Confirmation of issue for any outstanding premiums.
Attention: if there are no outstanding premiums because the policy has already been
placed in effect in PAC mode (providing there is no Amendment / Declaration of Insurability
to be signed on delivery), please inform the client of the upcoming scheduled PAC
withdrawal dates and amounts.
Illustration
In the case of optional policies, the following documents must be returned:
The Receipt for Delivery of Contract for the 2 contracts, both for:
the accepted policy AND
the not taken policy.
The Amendments for the 2 contracts.
The policy that is not taken.
Delivery deadline: the contract must be delivered diligently without delay. Indutrial Alliance considers
that the contract must be delivered within 3 weeks of its reception.
Deadline for the reception of the documents/requirements at your Service Centre: the deadline
for receipt is indicated in the IMPORTANT NOTICE section of the document.
If the outstanding requirements are not received before the deadline, the policy will
automatically be considered as “not taken” and a letter will be sent to the client with the refund
of the initial deposit, if applicable.
If the Delivery receipt and/or the Illustration are not received before the deadline, all the
commissions already paid will be reversed. If the policy is in force, the reversal of commission
would appear as “DEL-C” on the commission statement. Furthermore, the status of an in
force policy would not be affected by the reversal of commission. The reversed commission
will be repaid upon receipt of the outstanding delivery requirements.
Individual Life Insurance
Page 115
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June 2017
Form(s) Required
Receipt for Delivery of Contract and all other requirements, such as signed amendment, signed
insurability declaration, signed illustration, initial premium, etc.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
 For an Amendment, Declaration of Insurability and Illustration: the signature of all the
policyowners is required.
 For the Receipt for Delivery of Contract: the signature of only one of the policyowners is
required.
If the policyowner is a company, the signature of the person who signed the insurance application is
required, being the person authorized to sign for the company.
Agent’s signature is required.
Fee(s)
None
Effective Date of Transaction
Upon receipt of the request at your Service Centre.
Acknowledgement of Transaction
No confirmation produced for this transaction, results can be reviewed using the Extranet.
Additional Information
Delivery Follow-up
Consult the Extranet for Contracts to be Delivered pending report to review policies where the “Receipt
for Delivery of Contract” and/or signed illustration requirements have not been received and accepted.
This report is updated daily. The column entitled “notes” identifies the contracts which have reached or
exceeded the delivery period.
Individual Life Insurance
Page 116
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June 2017
Premium Requirements for Placement of Policy
For universal life policies, the annual Minimum Premium or minimum monthly pre-authorized cheque
(PAC) is required to settle the policy (providing all other requirements have been met). If on an annual
mode, we will accept on an exception basis, no less than 3 months minimum premiums to settle the
policy.
For Traditional Life policies, the applicable direct bill modal premium or monthly PAC is required to
settle the policy (providing all other requirements have been met.
Last Revision Date
December 2016
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Individual Life Insurance
Page 117
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June 2017
Receipt for Delivery of Contract - Contract Accepted &
Returned for Modification
General Information
This section is used when the client wishes to make changes to the contract at the time of delivery.
If the changes are requested within 60 days following the issue of the contract, the signature of the
policyowner(s) will be required on the Receipt of Delivery of Contract at the “Contract Accepted and
Returned for Modification” section and the contract must be returned.
A new Receipt for Delivery of the modified policy contract will be produced along with the revised
contract. The new Receipt for Delivery of the revised contract must be signed and returned to avoid
reversal of compensation. If applicable, a new illustration must be prepared and signed by the
policyowner(s) upon delivery. In such a case, the new documents/requirements required to this effect
will be indicated on the POLICY DELIVERY INSTRUCTIONS document.
If the policy contract is returned for changes due to an error by your Service Centre, the policyowner’s
signature is not required in this section.
Current dating is only permitted when an initial deposit has not already been received or withdrawn by
your Service Centre.
It is important to note that even if a contract is on PAC mode of payment and no premiums
have been withdrawn due to the 13 days’ delay period before withdrawing the first PAC
premium, current dating is not permitted since we have the client’s PAC authorization allowing
the company to withdraw the premium payment. To avoid such a situation, the Payment on
delivery option should be selected on the application.
If the changes are requested more than 60 days after the contract is issued, the request is no
longer considered as a modification at issue. Therefore, the appropriate section of the F4A – Request
for Change form must be completed and signed by the policyowner(s) and the contract must be
returned.
If a universal life policy contract is issued with any change in coverage or risk class, a new
illustration reflecting the revisions must be prepared and delivered to the policyowner with the
contract. The new illustration must be returned with the “Receipt for Delivery of Contract”.
Form(s) Required
Receipt for Delivery of Contract and all other requirements, such as:
Amendment page
Declaration of Insurability
Illustration
Initial premium, etc.
If the modification leads to an increase in coverage on a simplified issue policy:
F32A – for Transition Simplified Issue coverage
F35A – Access Life – Simplified Issue coverage
Individual Life Insurance
Page 118
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June 2017
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
If there is joint ownership of the policy, the signature of all the policyowners is required.
If the policyowner is a company, the signature of the person who signed the insurance application is
required, being the person authorized to sign for the company.
Agent’s signature is required.
Fee(s)
Request received within 60 days following the issue of the contract  No transaction fee.
Request received after 60 days following the issue of the contract  Refer to Transaction Fees.
Effective Date of Transaction
Upon approval.
Acknowledgement of Transaction
New Policy Contract and Receipt for Delivery of Contract (may require signed amendment, signed
insurability declaration and signed illustration, as well as additional premium amounts.
Last Revision Date
December 2016
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Individual Life Insurance
Page 119
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June 2017
Receipt for Delivery of Contract - Contract Accepted
General Information
Upon delivery of the contract, the following points must be covered with the policyowner:
Confirmation of the information provided during the process of applying for insurance:
 If any of the information provided during the process of applying for insurance is no longer
accurate due to a change of any of the insured’s health status, lifestyle or financial situation,
you must provide a signed F3A form with the relevant information.
Coverage: Review each coverage and the expiry date.
Beneficiary: Explain the implications of the revocable and irrevocable designations and the
designation of a minor child, if applicable.
Death benefit: Establish the benefits payable for each insured in the case of death.
Explain how to submit a claim for a benefit, change of address, and all other changes.
Policyowner's rights: Explain different items such as changes of beneficiary and policy loans, etc.
General contract provisions: Review the main clauses such as premiums, lapse and reinstatement,
automatic loans, surrender value, cash withdrawals (and accompanying coverage reduction,
applicable surrender charges), excess funds, etc.
Lapse and reinstatement: Explain the reinstatement conditions following the lapse of the contract due
to non-payment of premiums.
Policy fees: Inform the policyowner(s) of the annual policy fees and transaction fees (contract
changes, returned bank items, duplicate contracts).
Specific provisions: Review the clauses on suicide, incontestability and contract amendments.
Provide the Policyowner(s) with your and your agency’s contact information.
Form(s) Required
Receipt for Delivery of Contract and all other requirements, such as signed amendment, signed
insurability declaration, signed illustration, initial premium, etc.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is mandatory.
 For an Amendment, Declaration of Insurability and Illustration: the signature of all the
policyowners is required.
 For the Receipt for Delivery of Contract: the signature of only one of the policyowners is
required.
If the policyowner is a company, the signature of the person who signed the insurance application is
required, being the person authorized to sign for the company.
Agent’s signature is required.
Individual Life Insurance
Page 120
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June 2017
Fee(s)
None
Effective Date of Transaction
Upon receipt of the request at your Service Centre.
Acknowledgement of Transaction
No confirmation produced for this transaction, results can be reviewed using the Extranet.
Last Revision Date
December 2016
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Individual Life Insurance
Page 121
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June 2017
Receipt for Delivery of Contract - Contract Refused by
Applicant(s)
General Information
Have the policyowner(s) sign the CONTRACT REFUSAL NOTICE on the reverse side of the Receipt
for Delivery of Contract and return it along with the policy to your service centre.
If it is not possible to obtain the policyowner(s) signature, the agent must complete and sign the
CONTRACT REFUSAL NOTICE stating the reason for refusal and return it to the service centre
within the delay indicated in the POLICY DELIVERY INSTRUCTIONS document.
It is very important to note that even if the Receipt for Delivery of Contract is not received at the service
centre, the contract can still be placed if we have received all other placement requirements (payment
of premium, Pre-authorized cheque payments (PAC) Agreement, amendment, etc.), however, the nonreturn of the Receipt for Delivery of Contract generates continued insurance coverage for the client
along with a charge back of commissions for the agent.
A policyowner may rescind the contract by notifying the Company in writing by the first of these dates:
within 10 days of the date of delivery of the policy;
within 60 days after the contract is issued.
In such a case, the Company will refund the premiums received within 60 days of this request.
Universal life policy: The Company reserves the right to charge clients for losses suffered on the
investments from the date the risk is accepted to the date the notice of contract refusal is received.
Agents are asked to inform their clients of this when they make a sale, particularly those clients who
deposit large amounts or amounts in excess of the minimum premium with their application.
Form(s) Required
The CONTRACT REFUSAL NOTICE section on the reverse side of the Receipt for Delivery of
Contract.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
Strongly encourage the policyowner(s) signature; however, the agent of record’s signature is
acceptable with the reason for refusal.
Fee(s)
None
Individual Life Insurance
Page 122
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June 2017
Effective Date of Transaction
Upon receipt of the request at your service centre.
Acknowledgement of Transaction
Refund of initial premium if contract returned within rescission period.
Last Revision Date
March 2015
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Individual Life Insurance
Page 123
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June 2017
Pre-Authorized Cheque Withdrawal (PAC) & Premiums
Mode of Payment to Annual, Semi-Annual or Quarterly
General Information
Traditional Policies – Modes of payment available are: Quarterly, Semi-annual and Annual Billing.
Transition, Alternative, Perspective and Access Life policies – Mode of payment available is:
Annual Billing only.
For traditional policies, the balance of premiums and fees must be submitted according to the mode
of payment chosen by the client.
Universal Life policies:
The balance of the annual premium is required, unless there are sufficient funds available in the
policy.
The annual billing can be stopped upon request.
Please note that the target premium will be changed to $0.00 and an Overdue Payment Notice
will be produced once the policy enters its grace period, if applicable.
It is highly recommended that the agent revise the extended premium projection on a regular
basis.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-02 – Change of Mode of Payment to Annual, Semi-Annual or Quarterly
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is preferable but not mandatory.
Fee(s)
None
Effective Date of Transaction
Upon receipt of the request at your Service Centre (unless otherwise specified).
Individual Life Insurance
Page 124
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June 2017
Acknowledgement of Transaction
Traditional Life policy - Confirmation of Transaction (Agent copy only).
Special Premium Collection if premium is due following the change.
Universal Life policy – Premium notice on next policy anniversary.
Last Revision Date
November 2016
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Individual Life Insurance
Page 125
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June 2017
Group List Bill
General Information
Insurance premiums are remitted by an employer on behalf of the employees for which individual insurance
has been issued. We bill the employer who deducts the insurance premiums from the employee’s pay and
the employer provides us with a cheque for the payment of the premiums.
Available for both Traditional and universal Life policies.
Available at time of application for coverage or anytime throughout the premium paying period of the
policy.
At time of application, or “Request for Change” under “Special Instructions” it must be indicated that
the individual is to be billed as part of a Group List Bill, along with the account holder name and
address. Please indicate if an existing Group List Bill has already been established and provide us with
the Group List Bill number.
Each policy within the Group List Bill will have its own policy effective date.
The Group List Bill is produced at the beginning of each month for the premium(s) due within that
month. Payment is required within the same month as the premiums are due. The grace period of
each policy within the Group List Bill, starts with the premium due date of the policy, not with the Group
List Bill Notice date.
A follow-up/reminder notice is not sent on a group level; however, a Termination Notice will be
produced for each applicable individual contract, if required.
The employer must accept to pay the premiums on behalf of the employees. An employee cannot
decide to engage the employer in such a process.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-02 Change of Mode of Payment to Annual, Semi-Annual or Quarterly (Special Instructions
Section)
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The employer’s signature is required.
Fee(s)
None
Effective Date of Transaction
The month following the request.
Individual Life Insurance
Page 126
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June 2017
Acknowledgement of Transaction
Group List Bill Notice.
Last Revision Date
May 2013
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Individual Life Insurance
Page 127
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June 2017
Modes of Payment and Billing
General Information
Traditional Policies – PAC, Direct Quarterly, Semi-annual and Annual Billing available.
Universal life, Transition, Alternative, Perspective and Access Life Policies – Direct Annual Billing or
PAC only.
Internet Banking is not available to policies using the PAC method of payment (regular premium
payments, special withdrawals, redraw of previous returned items, etc.). The payment of premiums by
Internet applies to Annual, Semi-annual and Quarterly direct bill only.
Premium or contribution (UL) notices are sent 25 days prior to the premium due date (Policyowner
copy only).
Follow up Notices are sent 15 days following the premium due date (Policyowner and Agent copy).
Applicable to traditional policies only.
An Automatic Loan Notice is sent out for policies which include surrender value and have the
Automatic Advance Option.
Termination Notice is sent upon policy termination (Policyowner and Agent copy).
Anniversary Notices are generated for Traditional Policies and only when there is information to be
communicated regarding future premium deposits, policy dividends and loans. The notice will include
any direct bill premiums due at the same time.
Last Revision Date
November 2016
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Individual Life Insurance
Page 128
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June 2017
PAC – Change of Banking Information - New Account Holder
General Information
Upon receipt of this request, all outstanding premiums and fees will be withdrawn from the bank
account, while respecting the reinstatement rules, unless it is a universal life policy with sufficient
available funds.
The banking information must come from a Canadian financial institution.
The banking information cannot come from a credit card or a line of credit.
The Pre-Authorized Cheque Payments (PAC) Agreement must be completed and signed by the
account holder and/or the policyowner.
If the banking information is not included in the PAC agreement, then a personalized cheque
specimen (void cheque) or a banking information confirmation issued from the financial institution
holding the client’s account details must be attached to the agreement.
If the new account holder is a company and:
the company is also the policyowner, no signature is required;
the company is not the policyowner, the signature of the policyowner and/or the signature of an
authorized person and the company’s resolution designating the authorized signatories are
required.
Unless otherwise indicated, the PAC withdrawal day in force remains the same.
To add a policy to an already existing PAC group, you must indicate one of the policy numbers
which is already participating in the PAC mode. We will therefore use the same banking information as
the one used by the policy that you will have indicated. The authorization number concept is
eliminated.
All outstanding premiums and fees will be withdrawn from the bank account, while respecting
the reinstatement rules, unless it is a universal life policy with sufficient available funds.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-01 – Mode of Payment to Monthly Pre-Authorized Cheque Payments (PAC) / Modify Existing
PAC
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
See table
Individual Life Insurance
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June 2017
Fee(s)
None
Effective Date of Transaction
With next withdrawal if requested 3 days in advance. Please note: If the withdrawal date is the 1st or
2nd of the month, notification is required prior to the 28th of the previous month (unless request is to
take effect at a subsequent date).
Acknowledgement of Transaction
Confirmation produced to the policyowner and the agent.
The change can be viewed in the Extranet.
Last Revision Date
May 2013
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Individual Life Insurance
Page 130
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June 2017
PAC – Change of Banking Information - Same Account Holder
General Information
Upon receipt of this request, all outstanding premiums and fees will be withdrawn from the bank
account, while respecting the reinstatement rules, unless it is a universal life policy with sufficient
available funds.
The banking information must come from a Canadian financial institution.
The banking information cannot come from a credit card or a line of credit.
One of the following documents is required:
personalized cheque specimen (void cheque) or;
confirmation issued from the financial institution holding the client’s account or;
Pre-Authorized Cheque Payments (PAC) Agreement completed. The signature of all account
holders and/or policyowners is preferable but not mandatory.
Unless otherwise indicated, the PAC withdrawal day in force remains the same.
To add a policy to an already existing PAC group, you must indicate one of the policy numbers
which is already participating in the PAC mode. We will therefore use the same banking information as
the one used by the policy that you will have indicated. The authorization number concept is
eliminated.
All outstanding premiums and fees will be withdrawn from the bank account, while respecting
the reinstatement rules, unless it is a universal life policy with sufficient available funds.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-01 - Mode of Payment to Monthly Pre-Authorized Cheque Payments (PAC) / Modify Existing
PAC
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
See table
Fee(s)
None
Individual Life Insurance
Page 131
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June 2017
Effective Date of Transaction
With next withdrawal if requested 3 days in advance. Please note: If the withdrawal date is the 1st or
2nd of the month, notification is required prior to the 28th of the previous month (unless request is to
take effect at a subsequent date).
Acknowledgement of Transaction
Confirmation produced to the policyowner and the agent.
The change can be viewed in the Extranet.
Last Revision Date
December 2016
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Individual Life Insurance
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June 2017
PAC – Combine / Divide the PAC Group
General Information
Upon receipt of this request, all outstanding premiums and fees will be withdrawn from the bank
account, while respecting the reinstatement rules, unless it is a universal life policy with sufficient
available funds.
Several policies can be grouped together under the same PAC group; each policy can have its own
withdrawal date or all policies can be withdrawn on the same PAC day.
Several policies grouped under the same PAC group can be divided and grouped under a new PAC
group.
Several policies grouped under the same PAC group can be divided to be withdrawn individually.
Since several policies can be grouped together under the same PAC group, consequently, all banking
information changes will affect each policy included in that same PAC group. Therefore, if a request to
group policies together in the same PAC group involves a new account holder and/or a change of
banking information, the Pre-Authorized Cheque Payment (PAC) Agreement completed and signed by
the policyowner and/or the new account holder joining the group is required.
Upon a request to divide a PAC group, it is necessary to provide a personalized cheque specimen
(void cheque) or manuscript banking information with the Pre-Authorized Cheque Payments (PAC)
Agreement completed and signed by the account holder and/or the policyowner for each policy
implicated in the transaction.
All outstanding premiums and fees will be withdrawn from the bank account, while respecting
the reinstatement rules, unless it is a universal life policy with sufficient available funds.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-01 – Mode of Payment to Monthly Pre-Authorized Cheque Payments (PAC) / Modify Existing
PAC
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
See table
Fee(s)
None
Individual Life Insurance
Page 133
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June 2017
Effective Date of Transaction
With next withdrawal if requested 3 days in advance. Please note: If the withdrawal date is the 1st or
2nd of the month, notification is required prior to the 28th of the previous month (unless request is to
take effect at a subsequent date).
Acknowledgement of Transaction
Confirmation produced to the policyowner and the agent.
The change can be viewed in the Extranet.
Last Revision Date
May 2013
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Page 134
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June 2017
PAC – Loan Reimbursement
General Information
Upon receipt of this request, all outstanding premiums and fees will be withdrawn from the bank
account, while respecting the reinstatement rules, unless it is a universal life policy with sufficient
available funds.
This option is available for both traditional and universal life policies.
Loan repayments may be made on a monthly basis by adding an amount to the regular monthly PAC
withdrawals (also available for contracts on direct billing for traditional policies only).
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-01 – Mode of Payment to Monthly Pre-Authorized Cheque Payments (PAC) / Modify Existing
PAC
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
No signature required if the mode is currently on monthy pre-authorized cheque payments (PAC).
Fee(s)
None
Effective Date of Transaction
With next withdrawal if requested 3 days in advance. Please note: If the withdrawal date is the 1st or
2nd of the month, notification is required prior to the 28th of the previous month (unless request is to
take effect at a subsequent date).
Acknowledgement of Transaction
A confirmation of transaction is produced for traditional policies only.
Last Revision Date
May 2013
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Individual Life Insurance
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June 2017
PAC – Postpone a Withdrawal
General Information
All requests to postpone a PAC must be submitted at least three business days prior to the regular
withdrawal day and at least two business days before the 28th of the preceding month if the regular
withdrawal day is the 1st or the 2nd of the month (any fees incurred due to the untimely submission of a
request to postpone a PAC will not be reimbursed).
It is possible to postpone a single policy which is part of a PAC group.
It is not possible to postpone the first withdrawal of a newly issued policy.
The maximum date allowed to postpone a PAC is the following month’s PAC withdrawal day (the 2
premiums will be withdrawn at the same time).
It is not permitted to postpone 2 consecutive monthly payments.
Upon a request to postpone a PAC while waiting for documents (ex: change of banking information,
termination of policy to follow, etc.), the PAC billing will be stopped until the receipt of the documents
while respecting the reinstatement rules. The policy lapse option stipulated in the policy will then be
applied.
Upon a request to postpone a PAC in the case of a deceased person, please provide us with new
banking information if the person is the bank account holder and/or a death claim if the person is an
insured on the policy and/or the policyowner covered under a waiver of premium upon death benefit.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-01 – Mode of Payment to Monthly Pre-Authorized Cheque Payments (PAC) / Modify Existing
PAC
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
None
Fee(s)
None
Individual Life Insurance
Page 136
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June 2017
Effective Date of Transaction
With next withdrawal if requested 3 days in advance. Please note: If the withdrawal date is the 1st or
2nd of the month, notification is required prior to the 28th of the previous month (unless request is to
take effect at a subsequent date).
Acknowledgement of Transaction
No confirmation produced for this transaction, results can be reviewed using the Extranet.
Last Revision Date
March 2015
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June 2017
PAC – Withdraw al Day
General Information
Upon receipt of this request, all outstanding premiums and fees will be withdrawn from the bank
account, while respecting the reinstatement rules, unless it is a universal life policy with sufficient
available funds.
The client can choose a withdrawal date anywhere between the 1st and 28th of the month, regardless
of the premium due date.
The policy grace period starts on the date on which the premium is due, and not on the PAC
withdrawal day.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-01 – Mode of Payment to Monthly Pre-Authorized Cheque Payments (PAC) / Modify Existing
PAC
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
None
Fee(s)
None
Effective Date of Transaction
With next withdrawal if requested 3 days in advance. Please note: If the withdrawal date is the 1st or
2nd of the month, notification is required prior to the 28th of the previous month (unless request is to
take effect at a subsequent date).
If the request is not received before the required date to allow us to process the change of withdrawal
day for the withdrawal of the current month, the change will take effect the following month.
Individual Life Insurance
Page 138
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June 2017
Acknowledgement of Transaction
No confirmation produced for this transaction, results can be reviewed using the Extranet.
Last Revision Date
March 2015
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Individual Life Insurance
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June 2017
Mode of Payment to Monthly Pre-authorized Cheque Payments
(PAC)
General Information
The PAC mode of payment is available for both traditional and universal life policies.
The banking information must come from a Canadian financial institution.
The banking information cannot come from a credit card or a line of credit.
The PAC withdrawals must be withdrawn within the same month that the premium is due. The
frequency is therefore only available on a monthly basis.
The grace period of the policy starts at the premium due date of the policy and not at the PAC
withdrawal day.
The PAC withdrawals are prepared with a minimum of 2 business days or more prior to the withdrawal
day except for withdrawals of the 1st and 2nd of the month which are prepared on the 28th.
The client may select any withdrawal day between the 1st and the 28th of the month, regardless of the
premium due date.
If no withdrawal day is selected, the issue day of the policy will then be used as the withdrawal
day.
The Pre-Authorized Cheque Payments (PAC) Agreement must be completed and signed by the
account holder and/or the policyowner.
If the banking information is not included in the PAC agreement, then a personalized cheque
specimen (void cheque) or a banking information confirmation issued from the financial institution
holding the client’s account details must be attached to the agreement.
If the account holder is a company and:
the company is also the policyowner, no signature is required;
the company is not the policyowner, the signature of the policyowner and/or the signature of an
authorized person and the company’s resolution designating the authorized signatories are
required.
To add a policy to an already existing PAC group, you must simply indicate one of the policy
numbers which is already participating in the PAC mode. We will therefore use the same banking
information as the one used by the policy that you will have indicated. The authorization number
concept is eliminated.
For a universal life policy:
Please make sure that the target premium is sufficient to maintain the policy in force.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-01 - Mode of Payment to Monthly Pre-Authorized Cheque Payments (PAC) / Modify Existing
PAC
Individual Life Insurance
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June 2017
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
See table
Fee(s)
None
Effective Date of Transaction
Upon receipt of the request at your Service Centre (unless otherwise specified).
Acknowledgement of Transaction
A confirmation of banking information is produced for traditional and universal life policies.
- Copy to the policyowner and the agent.
A confirmation of transaction detailing the premiums due is produced for traditional policies
(coming soon for universal life policies) – Agent copy only.
Traditional
If the selected draw day is within the next 10 days, then PAC is delayed 13 days.
If the selected draw day is greater than 10 days, then PAC draw will take place on selected
draw day.
If the selected draw day is in the past, then PAC is delayed 13 days.
Universal Life
If settling/placing a policy and the draw day is within the next 10 days, then the PAC is delayed
13 days.
If settling/placing a policy and the draw day is greater than 10 days, then the PAC draw will take
place on selected draw day.
For policies already in force, if the selected draw day is in the past, a withdrawal will be
processed without delay unless sufficient funds are available in the contract.
For policies already in force, if the selected draw day is greater than 10 days, then PAC draw
will take place on selected draw day.
Last Revision Date
May 2013
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June 2017
Premium Calculation Factors (Modal Factors)
General Information
The premium rates are given on an annual basis. To obtain another method of payment, the annual premium
must be multiplied by a corresponding factor.
Universal Life Policies
PAC = Annual premium divided by 12
Traditional Policies
PAC = Annual premium X .09
Quarterly = Annual premium x .2625
Semi-annual = Annual premium x .52
Please note that the factors used may vary by product version and original writing Company.
The following is a table for some of the previous contracts (refer to your Service Centre for assistance):
Policy Date
Prior to 01-01-1978
‘’
‘’
‘’
From 01-01-1978 to 31-03-1984
‘’
‘’
‘’
From 31-03-1984 to 29-02-1988
‘’
‘’
‘’
From 01-03-1988 to present
‘’
‘’
‘’
Payment Method
Semi-annual
Quarterly
Monthly
Monthly pay
Semi-annual
Quarterly
Monthly
Monthly pay
Semi-annual
Quarterly
Monthly
Monthly pay
Semi-annual
Quarterly
Monthly
Monthly pay
Industrial
.515
.2625
.08667
.0833
.515
.2625
.08667
.0833
.520
.2625
.088
.0833
Alliance
.515
.2625
.088334
.088462
.52 + 75¢
.26 + 75¢
.08667 + 75¢
.088462
.52
.2625
.09
.088462
.52
.2625
.09
.0833
Last Revision Date
July 2009
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June 2017
Premium Holiday (Universal Life Policy)
General Information
All requests for a premium holiday must be submitted at least three business days prior to the regular
withdrawal day and at least two business days before the 28th of the preceding month if the regular
withdrawal day is the 1st or the 2nd of the month (any fees incurred due to the untimely submission of a
request to postpone a PAC will not be reimbursed).
Please make sure that the accumulation fund and/or premiums paid to date are sufficient to maintain
the policy in-force and that any other contractual obligations are respected (refer to the wording of the
policy for specific details).
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-01 - Mode of Payment to Monthly Pre-Authorized Cheque Payments (PAC) / Modify Existing
PAC
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
None
Fee(s)
None
Effective Date of Transaction
At the next withdrawal if requested 3 days in advance. Please note: If the withdrawal date is the 1st or
2nd of the month, notification is required prior to the 28th of the previous month (unless request is to
take effect at a subsequent date).
Acknowledgement of Transaction
No confirmation produced for this transaction, results can be reviewed using the Extranet.
Last Revision Date
May 2013
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June 2017
Returned PAC – NSF
General Information
The type of notice generated is dependent on the reason for the return and the timing and/or frequency
of the returned item(s). The information included on the notice should be reviewed carefully and
instructions followed within the required time frames.
Form(s) Available on Extranet and Required Document(s)
N/A
Acceptable Means for Submitting the Request
N/A
Signature(s) Required
N/A
Fee(s)
Refer to Transaction Fees
Effective Date of Transaction
N/A
Acknowledgement of Transaction
N/A
Additional Information
Notice (generated by PAC authorization number)
F200-1 Notice of Banking Withdrawal for Traditional Policies and UL Policies that are within the lapse
period – sent to Policyowner at the address of the most recently issued contract (copy sent to Agent).
If the withdrawal is returned NSF and there was only one return within the last 30 days, there
will be an automatic redraw of the premium plus applicable fee(s) 15 days following the return
(exception: if the redeposit is scheduled for the 2nd of the month and the PAC withdrawal day is
the 1st, the redeposit will be after 14 days).
Individual Life Insurance
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June 2017
Last Revision Date
March 2015
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June 2017
Returned PAC – NSF, Stop Payment, Account Closed, Account
Holder Deceased, Other Reasons
General Information
The type of notice generated is dependent on the reason for the return and the timing and/or frequency
of the returned item(s). The information included on the notice should be reviewed carefully and
instructions followed within the required time frames.
Form(s) Available on Extranet and Required Document(s)
N/A
Acceptable Means for Submitting the Request
N/A
Signature(s) Required
N/A
Fee(s)
Refer to Transaction Fees
Traditional policies: no fee for reasons of return other than “NSF”.
Effective Date of Transaction
N/A
Acknowledgement of Transaction
N/A
Additional Information
Notice (generated by PAC authorization number)
F200-2 Notice of Returned Cheque (future PAC withdrawals are stopped) – sent to Policyowner (copy
sent to Agent).
3rd NSF if the return is within 30 days of a previous returned item.
For items returned as “Account Closed” or “Cannot Trace”, and prior to a change of banking
information was processed. If a change of banking information was processed, an automatic
redraw will take place and no notice is sent.
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June 2017
For the reason “Funds Not Cleared”, and if it’s the first return, the system processes an
automatic redraw.
For a the following types of returned cheques:








invalid account number;
incorrect name of account holder;
account untraceable;
account closed;
account transferred;
no cheques permitted;
account frozen;
or other reasons;
if there was no change of banking information provided since the last withdrawal, future
withdrawals are stopped and the coupon at the bottom of the form must be returned with the
policyowner’s or the agent’s instructions. If no instructions are provided, the missed premium is
not automatically withdrawn and the billing remains stopped.
F200-3 Notice of Returned Cheque – sent to Policyowner (copy to Agent).
NSF cheque”, “Payment Stopped”, “Account Closed”, “Account Holder Deceased”, or Misc.
reason following the 45 day grace period. In addition, a notice confirming the actions to be
taken due to the non-payment of premiums will be sent separately. (e.g.: Termination Notice,
Automatic Premium Loan, etc.)
Last Revision Date
March 2015
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June 2017
Returned PAC – Payment Returned of Deposit with Application
General Information
The type of notice generated is dependent on the reason for the return and the timing and/or frequency
of the returned item(s). The information included on the notice should be reviewed carefully and
instructions followed within the required time frames.
Form(s) Available on Extranet and Required Document(s)
N/A
Acceptable Means for Submitting the Request
N/A
Signature(s) Required
N/A
Fee(s)
No fee.
Effective Date of Transaction
N/A
Acknowledgement of Transaction
N/A
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June 2017
Additional Information
F200-18 Notice of Returned Cheque - Deposit with the Insurance Application (E-APP) - sent to
Policyowner (copy sent to Agent).
“NSF”, “Payment Stopped”, “Account Closed”, “Account Holder Deceased”, or Misc. reason.
The Interim Insurance Agreement received when applying for the insurance is null and void.
If the police is issued, PAC withdrawals are suspended, therefore, immediate action is required.
F200-19 Notice of Returned Cheque - Deposit with the Insurance Application (E-APP) Agent copy
only.
Incorrect banking information entered on an electronic application
(E-App).
The Interim Insurance Agreement is null and void.
If the police is issued, PAC withdrawals are suspended, therefore, immediate action is required.
Last Revision Date
May 2013
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June 2017
Returned PAC – Returned Item Within 2 Months of Policy
Effective Date
General Information
The type of notice generated is dependent on the reason for the return and the timing and/or
frequency of the returned item(s). The information included on the notice should be reviewed carefully
and instructions followed within the required time frames.
Form(s) Available on Extranet and Required Document(s)
N/A
Acceptable Means for Submitting the Request
N/A
Signature(s) Required
N/A
Fee(s)
Refer to Transaction Fees
Traditional policies: no fee for reasons of return other than “NSF”.
Effective Date of Transaction
N/A
Acknowledgement of Transaction
N/A
Individual Life Insurance
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June 2017
Additional Information
F200-4 Notice to Agent - Returned Cheque (future PAC withdrawals are suspended) - Agent copy only
and for a newly issued policy contract.
Return of first or second premium no matter the reason
Immediate action is required.
Last Revision Date
March 2015
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June 2017
Target Premium (U.L.)
General Information
Upon receipt of this request, all outstanding premiums and fees will be withdrawn from the bank
account, while respecting the reinstatement rules, unless it is a universal life policy with sufficient
available funds.
If the new target premium requested is lower than the minimum premium or the monthly cost + taxes
or the current premium for the Trend product, please make sure that the accumulation fund and/or the
premiums paid to date are sufficient to maintain the policy in-force until the next annual anniversary or
to cover the next 6 monthly anniversaries and that any other contractual obligations will be respected
(please refer to the wording of the policy for specific details).
If the funds are not sufficient to cover the requested target premium, the target premium will
automatically be changed to the minimum premium or to the monthly cost + taxes or to the current
premium for a Trend product.
If there are premiums in arrears, a PAC will be withdrawn to cover the amount due providing that a
reinstatement is not required.
If the target premium requested is $0, the mode of payment will automatically be changed to annual.
Form(s) Available on Extranet and Required Document(s)
Electronic Changes: submit the request via the “Electronic Changes” software and send us the duly
signed F1EA form when required OR
F4A-01 - Mode of Payment to Monthly Pre-Authorized Cheque Payments (PAC) / Modify Existing
PAC OR
F4A-02 Change of Mode of Payment to Annual, Semi-Annual or Quarterly
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
None
Fee(s)
None
Effective Date of Transaction
With next withdrawal if requested 3 days in advance. Please note: If the withdrawal date is the 1st or
2nd of the month, notification is required prior to the 28th of the previous month (unless request is to
take effect at a subsequent date).
Individual Life Insurance
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June 2017
Acknowledgement of Transaction
No confirmation produced for this transaction, results can be reviewed using the Extranet.
Last Revision Date
May 2013
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June 2017
Premiums paid in advance
General Information
The amount is placed into the Premiums paid in advance account, and when a premium is due, the
amount of the premium is debited from the account.
The interest rate is the rate indicated in the Rate Schedule under Premiums paid in advance. The
interest rate can change at each policy anniversary.
Form(s) Available on Extranet and Required Document(s)
F4A-02 Change of Mode of Payment to Annual, Semi-Annual or Quarterly in the “Special Instructions”
Section.
Acceptable Means for Submitting the Request
Request by email, fax, written request.
Signature(s) Required
The policyowner(s) signature is required.
Fee(s)
None
Effective Date of Transaction
Upon receipt of the request at your Service Centre (unless otherwise specified).
Acknowledgement of Transaction
No confirmation produced for this transaction, results can be reviewed using the Extranet.
Last Revision Date
May 2013
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June 2017
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