Pre-authorized chequing (PAC) and life events

A life event such as a move, marriage, marriage breakdown or death, may affect PAC arrangements for life, long term care, critical illness insurance, and/or accumulation annuity policies.

Move

Clients often change their banking information when they move. To change banking information on an existing PAC arrangement, please use the Request centre form PAC - banking information - change. If the client has multiple PAC arrangements, complete a separate request for each. For more information, refer to PAC banking information change.

Marriage, civil union, common-law partnership

• If the name of the PAC payor has changed, submit form E85 - Name change or correction. 
  
• If the banking information has changed, please use the Request centre form PAC - banking information - change. For more information, refer to PAC banking information change.
• If one spouse's policy is being added to the PAC arrangement of the other spouse please use Request centre form PAC - add a policy.

Marriage breakdown

Marriage breakdown can often mean a change to banking information, removing a policy from an existing PAC arrangement or establishing a new PAC arrangement.

To ensure a smooth transition, confirm with the clients if one of them is keeping the original banking information. If so, confirm if one client is to be removed from the PAC arrangement. If the answer is yes:

1. complete the Request centre form, PAC - banking information - change, requesting the ex-spouse's policy be removed from the PAC arrangement, and
2. set up a new PAC arrangement for the ex-spouse. A new E75 - Pre-authorized chequing (PAC) authorization form  is required. Please have the PAC payor(s) complete and sign the form. We must receive the form before the PAC information can be updated.
   

If the PAC payor is changing their name, submit form E85 - Name change or correction.

Death

If the deceased payor was paying for policies on the lives of others a new payor must be established. A new E75 - Pre-authorized chequing (PAC) authorization form is required. Please have the PAC payor(s) complete and sign the form. We must receive the form before the PAC information can be updated.