Limited Pay UL and UltraVision Shutdown – September 20, 2014
Transition Rules
Effective September 20, 2014, we are no longer offering Limited Pay UL and UltraVision policies for new sales. These changes affect new business and new policies resulting from a plan change or conversion.
Diamond View
The new illustration software is version 15.2. This new software will be available for download on Friday September 19, 2014. When installed, it will over-write the old version.
Application Deadline
The application deadline for Limited Pay UL and UltraVision is 5:00 pm (EDT) on Friday September 19, 2014.
Application Received After The Deadline
Applications received after 5:00 pm (EDT) on Friday September 19, 2014 will not be eligible for Limited Pay UL or UltraVision.
Rules and Definitions
Application delivery
Applications must be received before the deadline at one of these locations:
500 King Street North Financière Manuvie
PO Box 1669 2000, rue Mansfield, bureau 1310
Waterloo, ON N2J 4Z6 Montreal, QC H3A 3A1
Application received date
This is the date and time the paper or electronic application is received at one of the locations listed above.
NOTE: For electronic applications, the application received date is the date Manulife Financial’s Canadian Head Office (see Application delivery for addresses) receives the electronic application. The Signature and Disclosure Booklet (NN7006) must follow within 10 calendar days by September 29, 2014 to be considered as received by the Application deadline.
Eligible applications
Any applications we receive at Manulife’s Canadian Head Office (see Application delivery for addresses) on or before 5:00 pm EDT, September 19, 2014 will be eligible for Limited Pay UL and UltraVision if:
1. The policy or coverage is issued within 90 calendar days of the application received date, and
2. The policy or coverage is placed within 30 days of issue, and
3. The policy or coverage has never been closed.