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2017 life insurance tax changes resource centre

WHAT'S NEW ON DECEMBER 19, 2016?

Equation Generation® IV universal life
  • New values based on the 2017 G3 tax rules including updated:
    • G3 tax-exempt test logic;
    • Adjusted cost basis and net cost of pure insurance calculations;
    • Maximum exempt premium calculations.
  • Updated marketing material available on EquiNet. (français)
  • Equitable Sales Illustration software version 16-5 available for download.

Final Protection® simple issue whole life

  • Applications for multiple life coverage will no longer be accepted.
  • Updated marketing material available on EquiNet. (français)
  • In Q1 2017, the illustration software will be updated to reflect this change.

Timeline for future changes

An at a glance look at what's coming and when. (français)

G2 or G3?

Effective January 1, 2017, changes will be introduced to modernize the tax exempt rules.

  • Life insurance policies issued under current tax rules will have a G2 tax status.
  • Life insurance policies issued under the new rules effective January 1, 2017 will have a G3 tax status.

What does this mean for your clients? Find out. (français)

Resources