Canada Life Assurance Co. has improved its online Payout Annuity Quotation system, making it easier for advisors to process more types of individual payout annuity quotes online.

Canada Life also upgraded the online annuity application feature that uses data directly from the quotation to create a single, easy-to-use Portable Document Format file, providing advisors with fast, accurate applications that can help their sales efforts.

The online Payout Annuity Quotation system, accessible through RepNet, Canada Life’s advisor web site (www.canadalife.ca/repnet), now features a new online Annuity Quote Request Form for non-standard and other annuities with single premiums of $500,000 or more.

Advisors who complete and submit the form receive an annuity quote within three business hours. This form complements the system’s existing online quotation system that provides quotes for most standard annuities with lesser single premiums as well as custom, pre-populated applications.

The online Payout Annuity Quotation system now includes Accrual Tax Schedules along with multiple guarantee periods on a single quote, five optional income dates, pre and post-legislation splits, term annuities for minors, indexed annuities and joint life first-to-die annuities with 100% reduction on first death.

“The improvements to our Payout Annuity Quotation system provide advisors with accurate annuity quotes for their clients in even less time than before,” said Gerry Fryer, payout annuities vice president.

RepNet
www.canadalife.ca/repnet