Prominence Insurance Inc.

It’s “rate change announcement” season again, and it’s a good reminder that not all insurance works the same way.

If you’ve ever heard the term dividend scale in participating whole life insurance and wondered what it actually means, you’re not alone. The dividend scale is the set of factors an insurer uses to determine dividends (based on things like investment performance, expenses, and claims experience). It can change over time.

This is also what makes participating life insurance such a unique asset for long-term planning: it’s not just coverage, it can be a tool that builds value and can be structured to support goals like family protection, estate planning, and legacy strategies.

Most recently Desjardin Insurance and Equitable Life has announced they will be maintaining the same Dividend Scale Interest Rate, we will gather the full list and share once all announcements have been made.

Heads up for BC parents planning for post secondary: the BC Training and Education Savings Grant (BCTESG) is set to phase out in 2028, as mentioned in Budget 2026.
If you have a child born in 2006 or later and you have not applied yet, an RESP may still be a smart move, and this grant could be money you do not want to leave on the table. Read our full blog below

https://prominenceinsurance.ca/blog/changes-to-resp-bctesg-2028/