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Good news! Many of you requested changes to the replacement charges and we listened.
- The changes are now in effect and the new schedules have been published.
- The charge will now apply to replacements on coverages issued within the last five (5) years instead of seven (7).
- We will only apply a charge in the event of a replacement on the same type of product (i.e. life insurance to life insurance).
The change to the replacement charge by product type does not change your obligation to follow the regulatory replacement procedure applicable in your province of practice in accordance with the iA Market Conduct Standards Code.
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