Most current version
The Wave 53 is the most current version.
You can download the installation file first. Then double-click the file to install; or run the installation file directly without saving it.
If any of the product illustration modules in The WAVE program are currently open, please save the installation file first; then shut down the WAVE program and double click the saved file to install.
What’s new for WAVE v53
Effective February 26, 2024 we are introducing the following:
Underwriting Updates
We are improving and streamlining our underwriting process to provide a better experience for your clients by
increasing our accelerated underwriting limits and removing certain requirements.
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For all life (term, universal life and whole life) products, the following increased age and amount bands need only a Tele-Interview:
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Issue ages 18-40: up to and including $5,000,000 of total life insurance coverage
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Issue ages 41-50: up to and including $3,000,000 of total life insurance coverage
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Issue ages 51-60: up to and including $750,000 of total life insurance coverage
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Removal of the following for all life products applications:
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ECG/stress test requirements
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Motor vehicle report requirement for most ages/coverage amounts
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All life applications now have the option to request a Tele-Interview in lieu of a paramedical
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Removal of the PSA requirement on critical illness insurance applications for ages 41-50 and coverage amounts of $500,001+
Product Changes
We are increasing issue amount limits for the following products:
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Term base plans – up to $30,000,000
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BMO Insurance Whole Life – up to $35,000,000
There are no changes to the issue amount limits for Universal Life, Term 100, Living Benefit plans or any riders.
Other Wave Software Enhancements
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We will allow non-binding illustrations over the product issue limit up to $50,000,000 for all life products
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Any illustration above the product issue limit will require a special quote
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Minor non-product related updates throughout all modules and concepts such as:
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Minor changes on concept report pages
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Wording update on the Universal Life Supplementary Questionnaire
Please download the NEW Wave 53 illustration software.