Press release - September 6 2017

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PRESS RELEASE

UL Mutual presents three great new offers in our life dans critical illness insurances

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Alexandre Desbiens, Marketing and sales Vice President,Personal Insurance and Investment & Retirement and Julie Michaud, SeniorVice President, Personal Insurance and Investment & Retirement.


Drummondville, september 6, 2017 - Following a significant reduction to premiums on its term life products last spring, UL Mutual is continuing to build momentum by launching three new offers in our life insurance and critical illness lines. “We sincerely believe that these new offerings will generate a great deal of interest in our network and help strengthen our position in the market,” says Julie Michaud, Senior Vice President, Personal Insurance and Investment & Retirement.


New ultra-competitive T-30

UL Mutual is expanding its range of term products by adding renewable 30-year term life insurance. The premiums for the new T-30 are among the market’s lowest for coverage of $200,000 and over (up to $2 million), while respecting the $125 minimum premium per year. Coverage includes a benefit in case of severe loss of autonomy, launched last April. 


Product features:

  • Among the lowest premiums on the market for coverage of $200,000 and over
  • Benefit in case of severe loss of autonomy, included free of charge
  • Available to those ages 18 to 55
  • Renewable every 10 years until death
  • Convertible up to age 70 without evidence of insurability
  • Available as a rider on permanent coverage
  • $125 minimum annual premium and $50,000 minimum coverage
  • Other additional coverage available
  • Preferred rates available from $250,000


No fluids up to $500,000

To speed up the issuing process, UL Mutual is changing its rate requirements for permanent insurance products for clients 55 and under. 

  • Coverage with no medical samples required:
  • Age 45 and under: up to $500,000
  • Age 46 to 55: up to $250,000 

The process will be faster for both clients and advisors because medical samples will be replaced by a phone interview.


Preapproved critical illness insurance

In an effort to offer clients products tailored to their needs, UL Mutual is pleased to offer preapproved critical illness insurance covering the three main causes of death in Canada: cancer, stroke, and heart attack. This affordable new insurance is preapproved for policies without extra premiums.


Product features

  • Available to those ages 0 to 65 on new policies without extra premiums
  • Expires at age 70
  • From $5/month on term and permanent insurance products
  • No medical exam

Payment of a $1,000 monthly benefit for a maximum period of 24 months following diagnosis of one of the three illnesses covered

According to Ms. Michaud, the cut to premiums on term products announced last spring has paid off. “We’re sensing a keen interest in UL Mutual and believe these new products will improve our advisors’ services even further by enabling them to offer top quality products at ultra-competitive rates,” she says. 

Some restrictions may apply. For more details, advisors are invited to contact the UL Mutual sales team.


About UL Mutual

Founded in 1889, UL Mutual is one of Canada's oldest insurance company. Benefiting from assets that have been growing for more than 25 years, UL Mutual is recognized in the insurance and financial services market for its financial strength and exceptional customer service. It offers a range of products in individual and critical illness insurance, group insurance and investment and retirement products. The company, headquartered in Drummondville, employs 140 people. It serves the Canadian market, particularly Quebec, Ontario and New Brunswick.


Source:

Julie Thomassin

Communication advisor 

The UL Mutual Assurance Company

819-478-1315, ext. 2244

jthomassin@uvmutuelle.ca