FAQ for the dividend

 

When and how will we be paid the dividend?

The dividend will be paid in September 2026 as follows:

  • By direct deposit, if we have your banking information.
  • By cheque, if we did not have your banking information as of August.

 

Is it normal that I haven’t received my dividend?

Please contact your mutual insurance company for further information.

 

To avoid postal delays, can I give my banking information and ask for direct deposit instead?

Unfortunately, you cannot make this change.

 

To avoid postal delays, can I pick up my dividend cheque at one of your offices?

Unfortunately, this option is not available.

 

Am I entitled to a dividend for all my insurance policies with Promutuel Insurance?

Absolutely! All insurance policies entitle the policyholder to a dividend. It’s possible that more than one cheque or payment will be made, since payment is issued according to the name on the insurance policy.

 

I’m insured with Promutuel Insurance through a broker. Will I get a dividend?

Of course! The dividend is paid to all insured members of Promutuel Insurance who are policyholders as at December 31, 2025, including clients of our partner brokerage firms.

 

Why is my dividend taxable?

All dividends received from a cooperative must be reported as income for the current tax year by the insured member who received them. In doing so, we have applied a 15% tax withholding to help you avoid any unpleasant surprises when it comes time to file your tax return.

 

Do I need to take any specific steps if the insurance policy for which I received a dividend is tax deductible?

Promutuel Insurance is responsible for issuing tax receipts to its insured members. Please ask your accountant for more information about possible deductions and how to claim them.

 

Why do you need my Social Insurance Number or Federal Business Number?

If your dividend exceeds $100, Promutuel Insurance is required to send you a tax receipt that includes your Social Insurance Number or, for businesses, your Federal Business Number. This is required by the Canada Revenue Agency.

 

Is your website secure?

For nearly 175 years, Promutuel Insurance has been protecting your property, and your personal information is no exception. Rest assured that we have secure and rigorous processes in place to make sure your personal information never falls into the wrong hands. We also make sure that any information obtained is securely destroyed at the end of the statutory retention period.

 

Do I have to give you my Social Insurance Number or Federal Business Number?

The decision to disclose the number is yours. If we don’t receive it, Promutuel Insurance will send you a tax receipt in February 2027 that does not show your number.

 

I have an insurance policy with my spouse. Do we both have to provide our Social Insurance Numbers?

No, since the tax receipt is an individual document on which only one name can appear. Consequently, Promutuel Insurance will send a tax receipt to the insured member who has provided their Social Insurance Number. If no Social Insurance Number (SIN) is provided, the tax slip will be issued in the name of the first person listed on the policy.

 

When will I receive the tax slip?

The tax slip issued by Promutuel Insurance will be sent to you in February 2027.

 

Who can I talk to if I have questions?

For any other questions regarding the dividend, please contact your mutual insurance company.