Vendor products | Dividend scale interest rate increasing to 6.2% on July 1, 2023

Actuarial and Insurance Solutions April 24, 2023

Dividend scale interest rates for all our participating life insurance policies have been revised in light of higher-than-expected returns resulting from rising interest rates and changes to our investment strategy.

We strive to optimize long-term returns and stability for all our clients!

Current product lineup

We're pleased to announce that the dividend scale interest rate will be increasing to 6.2% on July 1, 2023, for our current lineup of participating life insurance policies:

  • 5 pay PAR
  • Accelerated Growth (10 Pay, 20 Pay or to 100)
  • Estate Enhancer (10 Pay, 20 Pay or to 100)

Policyowners will have the opportunity to take advantage of the increase during their next renewal after July 1, 2023.

Impact on dividends paid to clients

The dividend scale interest rate increase, in combination with our revised mortality assumptions, means dividends will be increasing for most participating life insurance policyowners.

Updated illustration tool coming May 1, 2023

Starting May 1, 2023, you will be able to present the following 3 scenarios for participating life insurance:

  • Current rate of 6.2% (mandatory)
  • Reduced rate of 5.2% (mandatory)
  • A rate of your choice between 4.2% and 6.7% (optional)

Policies issued before 2017

The dividend scale interest rate increase will mean increased dividends for most participating life insurance policies.

Standardized review date

Please note that the annual review dates for dividend scales have been standardized to July 1 for all participating life insurance policies.

Important dates

May 1The dividend scale interest rate will be updated in the illustration tool.
May 1 to July 1It will not be possible to produce illustrations using the new scale for in-force policies. You will be able to request illustrations starting July 4, 2023.
July 1New dividend scale will come into effect.

For more information about participating whole life insurance, visit our participating whole life insurance page and the page on our new investment strategy.


See our FAQ or contact your regional sales director.