Credit Score

Credit score is what . . . ? and what factors influence it
Credit score indicates the risk you represent for lenders.

Scores are from 300 to 900.

High scores on this scale are good. The higher your score, the lower the risk for the lender.

Your score at times, also determines the interest rate by your banks.

What factors influence your score?

Credit‐reporting agencies and lenders use a mathematical formula to figure out your score, which takes into account various factors described in your credit report, such as:

Your payment history:
(Do you carry over a balance on your credit card from month to month? Have you ever missed a payment on any of your debts?)


Any collection or bankruptcy recorded against you:
(Has a collection agency had to collect an unpaid bill from you?
Have you even been bankrupt?)

Your outstanding debts:
(What is the limit on your credit card?
Is your spending close to your credit limit?)

Your account history:
(How long have you had credit?)

The number of recent inquiries made about your credit report:
(How many times has someone asked about your credit report?
How often do you apply for credit cards?)

The type of credit you are using:
(Do you only have credit cards, or do you have a mix of credit cards and loans?)


How? . . . "you can improve your score"

Always pay your bills on time.

Try to pay your bills in full by the due date. If you aren’t able to do this, pay at least the
required minimum amount shown on your monthly credit card statement.

Try to pay your debts as quickly as possible.

Don’t go over the credit limit on your credit card.

Reduce the number of credit applications you make.

Credit score improvement means making sure you have a credit history.

Critical Illness

Critical illness coverage

Critical illness insurance is now more accessible than ever!

Our Transition critical-illness insurance product is now more accessible thanks to the introduction of simplified issue. This new option is an entryway for critical-illness insurance because it provides simple, affordable coverage and the premiums are guaranteed for the duration of the coverage. Transition Simplified Issue is easy to enroll in and is available in T-10 and T-75 modules, with a maximum coverage up to $100,000.

At the time of issue, you can choose a Return of Premiums upon Death or Flexible Return Premiums rider where you can recover all premiums paid.

However, the most important advantage of Transition Simplified Issue is coverage, without a medical exam, for the four main illnesses with the greatest number of claims in Canada, as well as for the Industrial Alliance group. They are:

* Stroke

* Cancer

* Heart Attack

* Coronary Artery Bypass Surgery

By concentrating on these four illnesses, which represent 86% of all claim requests for critical illness, we can offer more competitive premiums for your clientèles.