How Conversion Impacts You
What to expect as your policy goes through the conversion process
- You can be assured that your policy will remain in force, including all guarantees provided by the policy.
- The policy conversion process does not change or alter the contractual guarantees and obligations of your life insurance policy.
- This may cause an inconvenience; however, the process is necessary to ensure the integrity of your life insurance policy.
- When the conversion is complete, Accordia Life will utilize a new system for the administration of your life insurance policy, as well as all communications regarding your policy.
Is your policy restricted?
- While a policy is in a restricted status, transactions cannot be processed and premiums cannot be applied.
- We will however, continue to process Claims and surrender requests, as well as loans and other financial transactions.
- Restricting policy activity allows us to carefully review and validate that the policy has been converted accurately.
- We cannot provide updates on policy values during this validation process.
- You will receive a letter when your policy is released from restriction, explaining what you can expect as normal activity resumes.
- Once a policy is no longer restricted, we will resume processing transactions and we can provide updates on current policy values.
- A larger payment than you're used to may be required to bring forward premium payments not collected while your policy was restricted.
- As a result, we will provide additional time for you to bring forward those premium payments.
- If the additional time is not enough, we will work with you on alternative arrangements.
- You will receive a letter with premium payment amounts and more detail once unrestricted, and there will be a phone number for you to call to make alternative payment arrangements.
- If you need additional time to make outstanding premium payments, you can call (844) 858-3932.
- We recognize that this has been an inconvenience for you and we apologize.
- You can be assured that restricted policies remain in-force, including all guarantees provided by the policy during this period and all valid claims will be paid.
Find out more information about conversion using the resource links to the right. For any additional other conversion related questions;
- Contact your life insurance agent.
- Call our Customer Service team 1-877-462-8992