Term products | Lower rates as of October 22, 2022

Product Development and Pricing October 18, 2022

Known for being simple and affordable, term products are very popular options. We are constantly adapting them to the market evolution to remain more competitive and attractive.

We are therefore pleased to announce that these term life insurance products’ rates will be lowered further. The average and maximum possible rate reductions are as follows:

ProductsDecrease average Decrease maximum
Term 10-1.9% -15.3%
Term 20-1.4% -10.2%
Term 30-3.9% -10.5%
Term 65-4.0% -12.6%
Universal Life Term 10-1.8% -15.1%
Universal Life Term 20-1.4% -9.9%

This product line is perfect for meeting predetermined financial needs to cover a person's financial obligations following their death.

Depending on certain factors, such as the person's age, the capital to be insured and the product selected, this rate decrease may be lower or higher.

Market position

Dated October 4, 2022

Female NS, age 40$250,000$500,000$1,000,000# of companies
Term 1043118
Term 2012117
Term 3047518
Term 651113
Male NS, age 40$250,000$500,000$1,000,000# of companies
Term 1043318
Term 2012117
Term 3026518
Term 651113

We can be proud to be the ranked 1st on the market in several categories!

Multi-Coverage Discount

Would you like to offer a low rate to your clients for our term life insurance products*? You can thanks to the Multi-Coverage Discount, an excellent option for covering all their needs and staying on budget!

By purchasing at least 2 eligible insurance coverage products on the same policy and at the same time, they will get the following benefits:

* Term universal life insurance isn't eligible for the Multi-Coverage Discount.

Refer to the quick reference document for more information.

Transition rules

Applications still under review at the time of the change will automatically benefit from a better rate.

Other advantages of our term products

  • Conversion privilege: Term products can be converted into permanent products until the age of 70, without providing proof of insurability
  • Exchange option: certain temporary products may be replaced by longer-term temporary coverage.
  • Association option: individual coverage can be exchanged for joint coverage, which means adding other insurers, until the age of 70.