Quebec City-based SSQ Insurance is expanding its product offering to include new simplified and guaranteed issue life insurance products to position itself in a fast-growing sector.
The products include simplified term life, simplified whole life and guaranteed issue whole life.
Can access products in less than an hour
The three new life insurance options provided by SSQ Insurance let customers apply for and get no-medical coverage in less than 60 minutes – a process that is 100% electronic.
"The launch of these products is part of our strategy to continually innovate our digital offering in line with market needs. In a competitive environment where insurers are quickly going digital, we want to make our advisors work easier by providing them with products that are simple, quick and that ensure peace of mind," said Éric Trudel, senior vice-president Strategy and Product Management, SSQ Insurance.
Products can be sold remotely
In addition to being paperless, these products stand out by the speed at which they can be issued. Advisors can sell the products remotely by using a secure electronic application and e-signature, and then emailing the digital contract to customers.
A number of insurance companies have moved to paperless, no-medical insurance because of COVID-19 and the inability, at one time, to get paramedics to come to a client and get certain medical tests done.
