Get your application in before October 1, 2016 insurer warns.
Last week, Industrial Alliance announced that any life insurance application submitted after October 1, 2016 would be based on their new 2017 product. This news is not unexpected. With the introduction of less favourable tax rules for certain life insurance products coming into effect January 1, 2017, people are looking to maximize their tax shelter room. Policies established before January 1, 2017 will be grandfathered. For more details on the changes read more here.
The new 2017 rules reduce the amount of investment capital that can be held […]