New taxation rules slow down life insurance product introductions in 2017.
As the end of the year arrives and, with it, the new taxation rules for life insurance, we are starting to receive information on the new life insurance products.
The reasons for the carriers’ slow introduction of new products:
#1. New life insurance tax rules (effective January 1, 2017) were introduced in 2016 to reflect current mortality rates and heightened requirements by the regulators for standardization across insurers and products. These rules replace the current and more favourable tax rules, and have created a tremendous […]