Assumption Life revamps its Golden Protection and Golden Protection Deferred

11/3/2015 12:00:00 AM

Assumption Life has revamped its Golden Protection and Golden Protection Deferred insurance. Several features have been modified, while new ones have been introduced.


  • Golden Protection maximum coverage doubles for clients in the 40–70 age group, going from $50,000 to $100,000.
  • The 20-year pay option has been added for the 40–80 age group; the Life Pay option remains.
  • The question dealing with insurance having been refused in the past two years has been reworded to increase clients’ chances of obtaining immediate insurance with Assumption Life.
  • Medical questions are even clearer and to the point: no need to be a doctor to understand! We ask no questions on lifestyle and no embarrassing questions about weight, any criminal record, the state of finances, such as bankruptcy, or alcohol consumption. Clients can be approved immediately, if they can answer “no” to all medical questions –– with no medical exam.
  • Premium rates will increase in certain instances. “Since the last revision of our product, in 2009, we have seen important premium rate increases for whole life products in our industry due to low interest rates. In our case, we were able to limit the increase for many of our clients”, explained Assumption Life’s President and CEO, André Vincent.


    The priority at Assumption Life

    “We are committed to offering quality and reliable products, said André Vincent. For example, our brokers know from the start whether their client is eligible for coverage with Golden Protection. We want to ensure we are asking the right questions so there is no post-claim underwriting. For us, it is essential that all payable claims are paid.”


    During this product review, the insurer also decided to remove Golden Protection Plus from its product line, since it was no longer meeting its clients’ needs.