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Update News for July 2008
Here is a quick run-down on what you will find in this bulletin:
These topics will be dealt with in more detail throughout this bulletin.
During June Compulife wrapped up work on our Critical Illness software for the Canadian market. As we have noted before, Critical Illness (CI) insurance has become a fairly popular product line in Canada and we have now added that to our Canadian software.
You can read about the new software by visiting this month's Canadian bulletin:
Comparing Critical Illness insurance is not as simple as life insurance and so you can read more about it by visiting the Canadian monthly bulletins for May and June:
Last month I published an email from one of our subscribers who said that they would like to see us add CI comparisons to the U.S. software. I invited further discussion and response, of which there was none. Needless to say, given the problem associated with CI insurance, we are not anxious to increase exposure for ourselves where there is no demand.
We have made some changes to our software that will improve the ability to add table ratings to individual quotes. The change involves the ability to quote flat ratings and a further change will eliminate some problems that we are having where ratings are applied to basic premiums but not to waivers. The software with those improvements will be introduced in a midmonth update in July.
With the completion of the changes needed to the Canadian software, we intend to turn our efforts to some maintenance work that is needed to the data entry systems. Those programs have not been updated for quite some time, and some need to be converted to take advantage of the newer programming compilers that we have been using for the programs that you use.
In the meantime we stand ready to move forward with an expansion to our no lapse UL quotes, when and where we get participation from life companies. As we indicated before, we would like to add new categories for limited pay versions of no lapse products, allowing you to quote pay to 65, 20 pay, 10 pay and single pay. So far no life insurance companies has provided us values for those payment periods. We would also like to add survivorship versions of no lapse UL but no company has yet to provide us with their calculation system for doing so.
Once again, during this interlude we will catch up on some important maintenance work.