Assumption Life’s ParPlus and ParPlus Junior: A participating whole life insurance with a twist!
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True to its ongoing commitment to offer easy-to-sell products, Assumption Life is proud to launch its new whole life insurance – with a twist! ParPlus and ParPlus Junior, participating whole life insurance products, offer more than just coverage; owners of these policies receive yearly dividends and have an ownership interest in Assumption Life.
The excitement over ParPlus and ParPlus Junior began several weeks before its launch. "The Marketing Department’s telephone has not stopped ringing. Having heard the news, brokers and advisors were eager to know when this new insurance product would finally be available", declared Larry Boudreau, vice-president of sales and marketing at Assumption Life.
Life Insurance that Pays!
"Holders of this policy get the right to vote at our Annual Meeting, thereby getting the chance to get their voices heard. Furthermore, dividends declared by this product are shared exclusively among owners of participating policies", explained Mr. Boudreau.
However, in addition to annual dividends, our ParPlus product offers clients:
• Guaranteed basic whole life insurance
• Guaranteed cash values
• Guaranteed level premiums
Newcomer to our family of online products
With its arrival, ParPlus and ParPlus Junior add to the line of Assumption Life products already sold online. "The beauty of these quick issue products is that the broker or advisor from anywhere in Canada can fill out the order on his or her computer and send it to us online the same day; it’s fast and efficient", Mr. Boudreau concluded.
Summary of this new product’s features
For adults 18 to 75 years of age:
• Sum Insured: $5,000 to $2,000,000
• Simplified issue available for insureds under 66 years of age and for life insurance coverage of $5,000 to $250,000. All answers to medical and lifestyle questions must be answered in the negative.
• Riders:
Child Insurance Benefit (CIB)
Accidental Death and Dismemberment (AD&D)
Waiver of Premiums Upon Disability (WPI)
• Rate banding:
$5,000 - $24,999
$25,000 - $99,999
$100,000 - $250,000
over $250,000*
* Full underwriting for sum insured exceeding $250,000
For children 15 days to 17 years of age
• Sum Insured: $5,000 to $2,000,000
• Simplified issue for coverage amounts of $5,000 to $250,000
• Riders:
Accidental Death and Dismemberment (AD&D)
Waiver of Premiums upon Disability (WPI)
Waiver of Premiums upon Death (WPD)
• Rate banding:
$5,000 to $99,999
$100,000 and up
Full underwriting for sum insured exceeding $250,000.
Want to know more about ParPlus or ParPlus Junior? Just contact one of our representatives. Need an advisor from your region? Simply go to www.assumption.ca to find the right advisor for you.
Founded in 1903, Assumption Life offers a full range of products, including life insurance, critical illness insurance, group insurance, travel insurance, financial services and mortgage loans, throughout all ten Canadian provinces. The company's main office is in Moncton, New Brunswick.
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Information:
Pierre Martin
Research Agent – Marketing and Training
Assumption Life
Telephone: 506-853-5540
pierre.martin@assumption.ca
