The increased capital reserve requirements have proven challenging for insurers offering Guaranteed Withdrawal Benefit products. As a result, Class Plus 2.1 is being closed to new contracts Friday October 20, 2017.
Customers with a Class Plus 2.1 contract as of October 23, 2017 will be subject to a $25,000 deposit limit for the remainder of 2017. The deposit limit for 2018 is $25,000.
There are no changes to the features or guarantees of existing contracts. You can be assured that these changes do not affect the important benefit guarantees of Class Plus 2.1, including your guaranteed income for life.
For your additional guaranteed income needs, talk to your advisor about Class Plus 3.0, our new guaranteed income solution.