One of the common inquiries concerning the de-mutualization is with regards to the applicable date before which an eligible policyholder would have to advise the insurance company whether they would wish the benefit in cash (taxable dividend) or in shares (capital gain upon eventual sale). Below is a quick summary of these dates:

Mutual Life De-mutualization has been completed. They have renamed the company as they are no longer a mutual company. They are now called Clarica. Decision date was July 21.

ManuLife Decision date is August 30, 1999

Canada Life Decision date is September 13, 1999

Industrial-Alliance Decision date is October 28, 1999.

Sun Life Policyholders' meeting to vote on de-mutualization has not yet occurred, so no decision date has been set. The policyholders' meeting is to be held on September 9, 1999.

From a sales perspective, these dates are important for if you plan on holding a seminar for affected clients of a particular insurance company, you will have to plan to hold the seminar (or contact the client directly) before these decision dates.

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