Claims & forms

HomeInvestment and RetirementClaims & forms
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Claim upon death

How can I make a claim following a death?
  • Contact your financial security advisor; or
  • Contact our customer service; or
  • Fill out the Claimant statement death claim form and send it to UL Mutual, including the death certificate issued by the funeral home. Moreover, when the spousal rollover  is chosen, you must also send us an application form, completed and signed.
What happens after I made my claim?
  • We study the documents upon receipt. If some are missing for the analysis, a request will be made to the advisor and/or claimant indicating the additional document(s) required to complete the file analysis. 
  • Once the analysis is completed, the claim cheque is produced, if required. In the case of a spousal rollover, the amounts invested are transferred to the surviving spouse and the effective certificates keep the rate and duration established in the last renewal.   
  • At the end of the claim process, a letter including the claim cheque is mailed, if required, and the policy is no longer effective except when a spousal rollover has been made.
What is a spousal rollover?
  • For registered contracts, if the contract beneficiary is the spouse of the deceased person, a spousal rollover is allowed. A spousal rollover is made when the registered amounts of a deceased person are transferred in a registered contract owned by the surviving spouse. This process avoids paying taxes on the amounts during the claim. Taxes are paid during withdrawals requested by the surviving spouse from their registered contract. 
  • For TFSA contracts, if the contract beneficiary is the spouse of the deceased person, the spouse can become the successor holder of the invested amounts. By becoming the successor holder, the surviving spouse receives the deceased person’s TFSA contributions collected until the claim. However, it is important to note that future TFSA contribution rights of the deceased person cease upon their death.

Total or partial contract cash out

How could I cash out my contract?  
  • Contact your financial security advisor; or
  • Contact our customer service; or
  • Fill out the Cash value request form and send it to UL Mutual’s office.
  • It is important to note that under certain conditions, a cash out is not allowed. For example, some types of contracts (e.g.: LIRA, LIF) are submitted to obligations for withdrawals. Another example is that some products are only redeemable at maturity. In doubt, please contact your financial security advisor or our customer service. 
What are the impacts of cashing out my contract?
  • When a certificate is redeemed at maturity, no penalty is applied. The right to redeem without penalty is effective within 10 business days following the certificate maturity date.  
  • Some products can be redeemed before maturity. However, redeeming them before maturity could lead to penalties. To learn more, please contact your financial security advisor or our customer service. 
  • When cashing out registered contracts, a tax deduction at source is applied. The amount of taxes debited varies according to the redeemed amount and the province of residence of the policy owner. Moreover, at the end of the fiscal year when the amount has been redeemed, a tax slip is sent to the policy owner to allow them to add their cash out to their tax return.  
  • For non-registered and TFSA contracts, there is no deduction at source.

Other questions

Do I need to send the original document?
  • Here is the list of requests for which the original document is required:
    • All types of applications (GIC and Mercury Funds)
    • All types of transfer forms (e.g.: T2033, T2151, etc.)

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