Frequently Asked Questions

Q. Will participating in the deferral program save me money?

A. No. You still owe the premiums you just have extra time to pay


Q. What happens at the end of the 90 day deferral period?

A. By the end of the 90 day period, all premium payments that become due during that period must be paid in full (no penalty or interest will be charged) or the policy will lapse. You have no coverage when the policy is in lapse status. It is important to note that the client must contact the insurance carrier to ensure that the full payment (3 months outstanding plus the current month premium for monthly billings or full annual premium) is made by the end of the 90 day period.

For clients with Great West Life/Canada Life

Clients can also make partial payments during the 90 day period as long as all premium payments are made by the end of the period.

Payments can be made by providing us with instructions to withdraw the funds from their account or by making a lump-sum payment themselves through online banking: Payee Great West Life Insurance Premium or Canada Life Insurance Premium

For Manulife clients

Online payments are accepted, as well as postdated cheques. With verbal/written consent from the client we can also reactivate the PAC with a special draw of all due premiums: Payee Manulife Individual Insurance


Q. Can a claim be submitted during the 90 day deferral period?

A. Yes. If premium deferral has been granted, any premium payments due during the deferral period will be deducted from the face value amount or coverage amount.