Carrier Information

Manulife
Canada Life
Great West Life
RBC
Sunlife
Desjardins
Empire
Equitable
BMO
Foresters
Ivari
iA Financial Group
CARRIER NOT LISTED

MANULIFE

Annual premiums only

Switch to Monthly

For additional relief, you can also defer monthly premiums for 90 days. See deferral process below.

Grace Period Extension: 90 days

1. Send an email to Manulife at: ILC_ASC@manulife.ca Upon receipt, the request will be subject to their current processing timeline (10 business days).

Suggested Email – Adjust as necessary to suit your situation

Subject: Request for Grace Period Extension

I am requesting an extension to the grace period for the following policy(ies): ________________ (If you do not know your policy number call 1.877.626.8543 for assistance)

I am a ________ (occupation) and I am requesting an extension of the grace period for the following reason: ___________________________

I understand that I am to directly contact Manulife (1.877.626. 8543) closer to the 90-day expiry and will then confirm an arrangement to pay all the outstanding premium before the 90-day period. Otherwise, I understand that the policy will be in lapsed status (insurance not in effect) if it remains unpaid after the 90-day grace period.

Thank you for your consideration.

Name:

Cell:

NOTE: THE EMAIL ABOVE IS NOT SUFFICIENT TO SUSPEND MONTHLY BILLINGS. IF YOU PAY MONTHLY YOU MUST COMPLETE STEP 2

2. For monthly billing, call Manulife at 1-877-626-8543 and request for them to ‘suspend the PAC’. If payment is due within the next five business days, the suspension may only take effect the following month. Manulife requires at least five business days to successfully process a ‘PAC suspension’

3. Payment for all outstanding premiums (three months) must be received before the 90th day or the policy will lapse (you do not have coverage if the policy lapses)

For monthly billing – call Manulife at 1.877.626. 8543 at least ten days before the 90^th day extension. Manulife must receive your authorization to take all the outstanding payment from the bank account on file a week before the 90th day.

For annual billing – you must pay online no later than five business days before the 90th day. Online payment must be sent separately for each policy.

Payee: Manulife Individual Insurance

Account No.: ILCyourpolicy# (e.g. if policy number is H1234567, enter ILCH1234567) Keep a screen shot copy of your payment confirmation in case it’s needed for tracing.

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CANADA LIFE and GREAT-WEST LIFE

1) Annual Premiums Only

Switch to monthly

You may wish to switch from annual to monthly premiums to better suit your cash flow. There is no cost to make this change and you can switch back at a later date if you choose. To make the change, call 1.800.665.0551. For additional relief, you can also defer monthly premiums for 90 days. See grace period extension (aka deferral) process below.

2) Annual or Monthly Premiums

Grace Period Extension: 90 days

1. Send an email to:

Life Ins: GWLTradLifeClientService@londonlife.com

Disability: livingbenefitsclientservice@gwl.ca

Note: Requests are subject to current processing timeline of 10 business days

Suggested Email -Adjust as necessary to suit your situation

Subject: Request for Grace Period Extension

I am requesting an extension to the grace period for the following policy(ies) ____________ (if you do not know your policy number please call GWL 1.800.665.0551 or CL 1.888.724.3680 for assistance)

I am a ______________ (occupation) and I am requesting an extension of the grace period for the following reason: ____________

I understand that I am to directly contact GWL (1.800.665.0551) or Canada Life (1.888.724.3680) closer to the 90-day expiry and will then confirm an arrangement to pay all the outstanding premium before the 90-day period. Otherwise, policy will be in lapsed status (insured not covered) if it remains unpaid after the 90-day grace period.

Thank you for your consideration.

Name:

Cell:

NOTE: THE EMAIL ABOVE IS NOT SUFFICIENT TO SUSPEND MONTHLY BILLINGS. IF YOU PAY MONTHLY YOU MUST COMPLETE STEP 2

2. For monthly billing, call GWL or CL and request for them to ‘suspend the PAC’ and advise them that you just emailed the grace period extension request If payment is due within the next five business days, the suspension may only take effect the following month. They require at least five business days to successfully process a ‘PAC suspension’ GWL: Call 1.800.665.0551 or Canada Life: Call 1.888.724.3680

3. Payment for all outstanding premiums (three months) must be received before the 90th day or the policy will lapse (you are not covered if the policy lapses)

For monthly billing– call GWL or CL ten days before the 90^th day extension. GWL or CL must receive your authorization to take all the outstanding payment from the bank account on file a week before the 90th day.

For annual billing– pay online no later than five business days before the 90th day. Online payment must be sent separately for each policy.

3) Annual or Monthly Premiums

Reduce coverage and premium for 90 days – only available for term life, minimum-funded level COI UL, CI (without ROP only)

You have the option to reduce coverage by up to 50%. This option cannot be used in combination with the payment deferral option. You can restore all or part of your coverage at any point within the 90-day coverage reduction period without underwriting or penalty.

VERY Important Information:

– You must arrange to restore part or all of the coverage within the 90 days, otherwise, your coverage will continue at the reduced rate.

– If arrangements are made before the end of the 90 days, your coverage will return to the coverage amount in force immediately before the reduction, or, if you choose, an amount between the reduced coverage and coverage in force immediately before the reduction. Coverage can be restored at any point during the 90 days.

– If you wish to increase your coverage AFTER the 90-day reduced coverage period, you will have to apply for a new policy, with medical underwriting, and with premium based on the then-current age and health.

– If there is a claim during the 90-day period, the benefit will be based on the coverage amount in effect on that date.

Process for Requesting Reduction of Coverage (for up to 90 days)

Send your email request directly to: GWLTradLifeClientService@londonlife.com

In your email, express your unique financial circumstance due to COVID-19 such as illness or quarantine or inability to earn income while your business is closed. Also include in your email your address and telephone number, so that Canada Life can communicate with you directly. The insurer will contact you directly once they start working on your e-mail request. You have until May 31, 2020 to send in your request to Great-West Life/Canada Life.

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RBC Insurance

Annual premiums only

Switch to Monthly

For additional relief, you can also defer monthly premiums for 90 days. See deferral process below.

Grace Period Extension: 90 days

1. Client to complete and sign the ‘premium deferral form’

2. For annual payments, your billing will be switched to monthly and you have to fill out and sign the PAD form (link to form noted on the premium deferral form you are signing) and include a Void Cheque.

3. Email the forms (premium deferral and PAD if applicable) to premiumdeferralrequest@rbc.com

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Sunlife

Annual premiums only

Switch to Monthly

For additional relief, you can also defer monthly premiums for 90 days. See deferral process below.

Grace Period Extension: 90 days

1. Client is to call the Client Care Centre (1-877-SUN-LIFE) at 1-877-786-5433

2. When a call is made to the CCC, the client care centre, you will be asked the following: “Can you confirm which of the following reasons, if any, apply: – illness/quarantine – a lay-off or job loss – absence from work due to fulfilling caregiver needs of a child or family member with COVID-19 If the reply indicates that financial hardship is due to one of the above reasons, they will offer a premium deferral exception for 90 days.

3. Sunlife will contact you on day 80 to make arrangements for repayment of the premiums due.

4. If paying annually, Sunlife will change mode to Monthly to allow for the 90-day deferment exception. Sunlife will contact you on day 80 to make arrangements for repayment of premiums due.

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Desjardins

Annual premiums only

Switch to Monthly

For additional relief, you can also defer monthly premiums for 90 days. See deferral process below.

Grace Period Extension: 90 days

1. Client to call the Customer Contact Centre (CCC) at 1 800 278 0669

2. When a call is made to the CCC, please advise which of the following applies to you: – Have been negatively impacted by COVID‑19 – Lost their job or have been temporarily laid off – Quarantined – Can’t work due to a COVID‑19 diagnosis – Office temporarily closed If the reply indicates that financial hardship is due to one of the above reasons, they will offer a premium deferral exception for 90 days.

3. For Monthly billing, Desjardins will simply push back the automated withdrawals up to 90 days after the premium is due. This means they will pick up all outstanding premiums on the 90th day.

4. For Annual Billing – The premium must be received at Desjardins on or before the 90th day Grace Period (count from the day the premium is due)

Online payment instruction: Payee: Desjardins Financial Security – Insurance

Account: T1policy# (add T1before your policy#, no space)

Keep a screen shot copy of your payment confirmation in case it’s needed for tracing.

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Empire Life

Annual premiums only

Switch to Monthly

For additional relief, you can also defer monthly premiums for 60 days. See deferral process below.

Grace Period Extension: 60 days

1. Client to call Empire Life Customer Service at 1-800-561-1268 to make the request.

2. Client is to make the arrangement on how the premium is to be paid before the 60-day extension ends.

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Equitable Life

Annual premiums only

Switch to Monthly

For additional relief, you can also defer monthly premiums for 90 days. See deferral process below.

Grace Period Extension: 90 days

1. Client contact Customer Service at 800.668.4095 to discuss your specific financial situation. You will be asked questions – to show that reason is due to COVID-19 and will be subject to approval based on Equitable Life’s financial hardship criteria. You can then ask for the 90-day Grace period extension.

2. Client is to make the arrangement (with step1) on how the premium is to be paid before the 90-day extension ends.

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BMO

Annual premiums only

Switch to Monthly

For additional relief, you can also defer monthly premiums for 90 days. See deferral process below.

Grace Period Extension: 90 days

Request for Premium Deferral will be accepted until May 31, 2020.

To inquire about the Program, policyowners must contact BMO Client Services department by email (insurance.clientservices@bmo.com) or phone (1-800-387-4483).

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Foresters

Annual premiums only

Switch to Monthly

For additional relief, you can also defer monthly premiums for 90 days. See deferral process below.

Grace Period Extension: 90 days

Foresters will make exceptions if a client is financially impacted by COVID-19

“If your clients are affected by COVID-19 and experiencing financial difficulties, please have them email Foresters Financial at paymentsupport@foresters.com. Foresters will work directly with them on a plan that works best for their situation.

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Ivari

Annual premiums only

Switch to Monthly

For additional relief, you can also defer monthly premiums for 90 days. See deferral process below.

Grace Period Extension: 90 days

All requests will be considered on a case-by-case basis

To make a request in writing, policy owners must contact Client Services at conversation@ivari.ca.

Email requests must include the following:

Policy owner information:

Policy number(s): If you don’t know your policy number contact Ivari at 1-800-846-5970

Name(s):

Phone number(s):

How COVID-19 has negatively impacted their financial situation (i.e. COVID-19 related illness, job loss, unpaid leave or business interruptions)

Policy owners can also call IVARI at 1-800-846-5970 to provide the above information.

Call Centre is open Monday – Friday from 8:00 a.m. to 7:00 p.m. ET

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iA Financial Group (Industrial Alliance)

Annual premiums only

Switch to Monthly

For additional relief, you can also defer monthly premiums for 90 days. See deferral process below.

Grace Period Extension: 90 days

1. Client to contact Customer Service at 844.442.4636 to discuss your specific financial situation. Questions will be asked and if approved, they will process the 90-day grace period extension.

Questions Asked: Does any of the following apply to you? If yes, specify. Do you need to self-quarantine for a 14-day period, because you:

– returned from a trip outside of Canada?

– have been in contact with a confirmed or suspected case of COVID-19?

– have been informed by a public health authority that you may have been exposed to the virus and that you should self-quarantine?

– have you lost your job or been temporarily laid off?

– do you need to take time off work to care for a child or family member with COVID-19?

– are you a business owner who suffered financial hardship due to COVID-19?

2. For Monthly billing, iA will simply push back the automated withdrawals up to 90 days after the premium is due. This means they will pick up all outstanding premiums on the 90th day. If paying Annually, iA will ask you to switch the mode to monthly to allow for the 90-day deferment exception. All the outstanding payments will then be picked up from the bank account on the 90^th day. You will also receive a letter from iA to confirm.

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Carrier Not Listed

If the carrier is not listed above, we do not as of now have an information on a premium deferral program. Please visit https://protectfinancial.ca/covid-19-information/ regularly for updates.

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