iA launches new par productBy The IJ Staff | June 15 2020 01:00PM
iA Financial Group announced June 15 the launch of iA PAR, the insurer’s new participating life insurance product.
iA says the product is aimed at clients looking to maximize their estate value, gain access to a source of liquidity and diversify their investments.”
"iA PAR once again demonstrates our commitment to constant innovation and to offering an unparalleled client experience and perfectly rounds out our product lineup," stated Renée Laflamme, Executive Vice-President, Individual Insurance, Savings and Retirement at iA Financial Group. "We have always strived to offer solutions that meet the evolving needs of our clients. That's why we are proud to now offer our new participating life insurance product and allow them to benefit from its advantages."
iA PAR offers flexible payment terms of 10 or 20 years, or up to age 100. It also offers four dividend payment options, including the additional deposit option (ADO), which accelerates growth of the death benefit and cash surrender value. In addition, “an included disability guarantee” allows access to cash surrender values, says the insurer.
For life insurance advisors, the product offers “a distinctive sales experience,” says the insurer. The product is sold through EVO, iA’s transactional platform. iA PAR is also part of the insurer’s product lineup offering instant acceptance at the point of sale for coverage up to one million dollars.
Until Oct. 31, 2020, iA says that clients who purchase iA PAR will benefit from a +0.25% rate increase on the current dividend scale for the life of their contract.
The iA participating account is managed by iA Investment Management (iAIM), a subsidiary of iA Financial Group.