Canada Life has revised its online intermediary portal with a range of amendments.
The provider said the enhancements were designed to help intermediaries write more group risk business and are applicable to schemes of up to 100 employees.
From 1 March all business written on its Canada Life Automated Self Service system will include:
• a reduction in the minimum premium to £480 per annum
• a three year rate guarantee period at no extra cost
• a reduction in the minimum number of lives to two
• unit rating from 10 lives
• increased limits before medical underwriting is required (the ‘free cover limit') to a minimum of £550,000 (group life assurance) and £65,000 (group income protection) from two lives upwards
• a choice of cease age of 60, 65 and 70 which gives employers more choice following the recent default retirement age changes.
The provider also announced it will waive any premium loadings up to the free cover limit where schemes are transferred from another insurer.
Paul Avis, sales and marketing director at Canada Life believes the changes will improve the system and make it more accessible to advisers, with a minimum scheme membership of just two lives.
The move is the first in a six week programme of technology amendments.
