According to Industrial Alliance Insurance, Trend will provide clients with the protection they need, all the while saving them money. The policyholders will benefit from a guaranteed premium discount for the first 10 years of the contract, and they can save even more starting year 11 if long-term interest rates are higher at that time.
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The coverage currently provided by these products will offer no opportunity for clients to regain ground and pay lower premiums in the future should interest rates go back up.
Industrial Alliance Insurance senior director of marketing in individual insurance and annuities, Marie-Élaine Gaudreault, said: "We have designed an affordable permanent life insurance product in comparison to the level-premium permanent solutions currently on the market. Then, in addition to this savings, policyholders can benefit from potential further savings should interest rates increase down the road."
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