NEW IMPROVED SPIA RATES ARE HERE! As communicated previously, we have successfully implemented the new Single Premium Immediate Annuity (SPIA V6.0) quotation version in The Wave Illustration system. You must download SPIA V6.0 now in order to continue to prepare annuity quotations. Summary of SPIA V6.0 Changes - New improved SPIA rates and competitive position for key markets with SPIA V6.0
- For registered life annuities, the minimum 5 year guarantee period requirement for amounts over $500,000 has been removed. Quotes up to $2 million continue to be available from the Wave illustration software.
- For non-registered life annuities, the minimum 5 year guarantee period requirement for amounts over $500,000 has been removed. In its place, all non-registered life annuities will now require a minimum 7 year guarantee period, with The Wave illustration software quotes reduced to $1 million from $2 million. For quotes between $1 million and $2 million, please contact head office for a special quote.
See how we now rank based on $100,000 non-registered funds*: 
* Companies surveyed: BMO Insurance, Canada Life, Desjardins Financial Security, Empire Life, Equitable Life, RBC Insurance, Manulife, Standard Life, Sun Life. BMO Life Assurance Company is not liable for any inaccuracies, errors or omissions in the information derived from third party sources. Quotes on Cannex as of June 17, 2014. Installation Instructions Once you have landed on the download page, simply follow the instructions to download and install SPIA 6.0 upgrade over The Wave 28.0. If you do not install SPIA 6.0 over The Wave 28.0, the annuity illustration system will not work. 
You can either download the installation file first, then double click the file to install; or run the installation file directly without saving it. The installation file will be installed over The Wave 28.0 in the default directory C:\Program Files\BMONET\Illustrator\. If you have renamed the default directory last time you installed The Wave, please ensure that the file will be installed on the directory that you created. Otherwise, SPIA V6.0 will not install properly. Click here to get SPIA V6.0 now. Once the installation is completed successfully, the new version number SPIA V6.0/14-06 will appear at the bottom right corner of the SPIA quotation screen. If you experience any difficulties, please contact the BMO Insurance regional sales office in your area. MB 319 (2014/06/17) |
