UV Assurance

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New Competitive Term Life Rates

As of September 8, 2021, UV Insurance will introduce new premiums in term life insurance in order to position itself advantageously in the Canadian market. With the recent introduction of Immediate Underwriting, the new rates will be even more interesting as they are mostly important in amounts ranging from $150,001 up to $499,999 for immediate underwriting and also above $500,000 in Regular Underwriting. You will find the same great products, with same service levels, avaialble on the acclaimed online platform My Universe!

Affected products

Target markets
  • Term Life Insurance T-10 and T-20

Amounts

  • $150,001 and more

Types of Issue

  • immediate and Regular Underwriting
  • Mortgage life insurance
    • Also available with Credit Insurance rider
  • Family market and middle class
  • SMEs

Position in the Canadian Market

Amounts 18-49 years 50-65 years Avantages
From $150,001 to $500,000 *

*$350K / 46-55 years
$250k / 56-65 years

 1st in the market In the top 5 Simplified Issue
More than $500k In the top 5 In the top 10 Preferred and Super-Preferred rates

 

Avantages of Term Superior +

  • Guaranteed premiums
  • Renewable every 10 years until death at a guaranteed premium, without evidence of insurability.
  • Convertible up to age 70 without proof of insurability
  • Preferred rates available starting at $500,000
  • T-10 and T-20 exchangeable
  • Available as a riders
  • Severe loss of autonomy included

Examples of new rates

Product: T-10 Superior +
Amount insured: $400,000
Men NS 25 30 35 40 45 50
Previous rates 22,68 23,04 23,04 28,08 40,68 62,28
New rates 20,16 20,16 20,16 25,2 36,72 57,6
Previous ranking 10 10 9 11 11 11
New raking 1 1 1 1 1 2
% of variation -11,11% -12,50% -12,50% -10,26% -9,73% -7,51%
Women NS 25 30 35 40 45 50
Previous rates 16,2 16,2 18 23,4 29,52 43,92
New rates 14,04 14,76 15,12 18,72 25,92 42,12
Previous ranking 10 6 11 12 8 9
New ranking 1 2 1 2 1 2
% ofvariation -13,33% -8,89% -16,00% -20,00% -12,20% -4,10%
Product: T-20 Superior +
Amount Insured: S400,000
Men NS 20 25 30 35 40 45
Previous rates 28,08 28,8 32,04 45 74,16
New rates 26,28 26,28 28,44 41,04 65,16
previous ranking 9 9 9 11 14
New ranking 2 1 1 1 1
% ofvariation -6,41% #DIV/0! -8,75% -11,24% -8,80% -12,14%
Women NS 20 25 30 35 40 45
Previous rates 20,88 21,6 22,32 25,2 34,92 53,28
New rates 19,08 19,44 19,44 21,6 29,52 45,72
Previous ranking 8 10 8 9 11 13
New ranking 4 5 1 1 1 1
% of variation -8,62% -10,00% -12,90% -14,29% -15,46% -14,19%