Our lineup of SOLO Healthcare products is particularly popular with clients who do not have access to a group insurance plan, including self-employed and seasonal workers, consultants, casual or part-time employees, etc.
While healthcare insurance premiums have gone up at much of the competition, we have avoided raising rates since this product line was launched in 2018.
Due to increases in prescription drug and healthcare costs, beginning on January 1, 2022 we will adjust our rates upward on the following types of coverage for all new SOLO Healthcare policies, for both basic and extended plans.
Rate hikes effective January 1, 2022:
The illustration tool will be adjusted to the new rates effective January 1, 2022.
Policy issue dates
A SOLO Healthcare policy can only be issued on the 1st or 15th of the month, depending on when the insurance application is approved. Here are the policy issue dates for the month of December 2021:
|Application approved||Policy issued|
|Between December 1 and 14||1st of the month|
|Between December 15 and 31||15th of the month|
Healthcare policies currently in effect
Similar increases will be applied to all of our healthcare policies. As usual, when premiums go up, your client will be informed in writing 60 days before their contract renewal date.
Our SOLO product lineup is still an outstanding option for your clients who don't have group insurance. Our rates still compare favourably to what the competition is offering!
Healthcare insurance policyholders will be notified of their premium increase by mail 60 days prior to their policy anniversary date. Some of your clients may have already received this written notice from us.
Product Development and Pricing