Industrial Alliance Insurance and Financial Services is set to launch a new universal life insurance product designed to allow customers to benefit from premium reductions, if long-term interest rates increases.
Scheduled to be launched on 03 June, Trend will provide policyholders with a guaranteed premium discount for the initial ten years, whilst also offering an opportunity to generate additional savings from 11th year if long-term interest rates are higher at that time.
Industrial Alliance Insurance Individual Insurance and Annuities Marketing senior director Marie-élaine Gaudreault said Trend is an affordable permanent life insurance product compared to other level-premium permanent solutions currently available in the market.
A maximum premium is established and guaranteed to the customers at the time of Trend contract signing, which will serve as a buffer for the insured, eliminating requirement to pay more than the amount specified in the contract.
The product also help policyholders to take advantage of tax-sheltered savings.
Established in 1892, Industrial Alliance Insurance and Financial Services is a life and health insurance company offering life and health insurance products, savings and retirement plans, auto and home insurance for both individuals and groups in Canada and US.
