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Canada Life 2016 participating policyowner dividend scale announcement
Canada Life reviews the participating policyholder dividend scale for all Canada Life, former Crown Life, and former New York Life individual participating life insurance policies annually. This review involves analyzing factors such as investment returns, mortality experience, lapses, expenses and taxes.
The yearly review of participating account experience for Canada Life, former Crown Life and former New York Life is now complete. The 2016 dividend scale will be reduced for all Canada Life open and closed block, former Crown Life, and former New York Life individual participating life insurance policies, effective Jan. 1, 2016.
Review the attached copies of the Canada Life participating policyowner 2016 dividend scale announcement and questions and answers document for more information.
Accountability, strength, performance
At Canada Life, we are committed to being a leader in the participating life insurance market and to maintaining choice and flexibility for clients and advisors. We believe in participating life insurance and know the value it has delivered to participating policyowners.
This reduction in the dividend scale helps maintain the long-term integrity, strength and stability of Canada Life’s participating account. Participating life insurance products continue to demonstrate strong, stable performance. In 2016, Canada Life will distribute an estimated $245 million in participating policyowner dividends. For more than 165 years, Canada Life has offered participating life insurance as part of a client’s financial program.
