MONTREAL, June 2, 2008 – The Standard Life Assurance Company of Canada today announced the addition of a Whole Life insurance product to its portfolio of wealth management solutions. Standard Life’s Whole Life product is available immediately through independent financial advisors across Canada.
The Whole Life product offers premiums and values that remain unchanged for the duration of the contract. It is targeted to individuals approaching retirement and looking for tax-efficient ways to maximize wealth transfer between generations. It can also fit the needs of younger individuals looking to ensure that their families are financially protected. Furthermore, it provides an alternative to existing Standard Life term insurance policyholders who want to convert their temporary insurance to a permanent form of life insurance coverage.
“We are committed to the needs of the pre- and post-retirement market by providing consumers with competitive products for protecting their assets and enabling them to efficiently transfer wealth to their heirs,” said Denis Berthiaume, Senior Vice-President, Retail Markets of Standard Life. “Our strategy is to continually provide advisors with products that meet the evolving needs of consumers as they progress through various stages of their financial lives.”
About Standard Life
In 2008, Standard Life, the first life insurance company to transact business in Canada, marks its 175th year of operations. Standard Life plc is a major international financial services group headquartered in Scotland. It provides asset-managing services for retirement, investment and protection to some seven million customers globally. It has offices in the United Kingdom, Canada, Ireland, Germany, Austria, India and China, including Hong Kong. (www.standardlife.com)
The Standard Life Assurance Company of Canada is Standard Life plc’s largest operation outside the U.K., with 2,000 employees based in Montreal and across Canada, serving more than 1.3 million Canadians, including group insurance and pension plan participants. (www.standardlife.ca).
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