Life

Decorative pattern

CRA review of 10/8 insurance programs

Much has been written about the Canada Revenue Agency’s plans to review leveraged insurance arrangements, also known as 10/8 programs. These programs typically have the following characteristics: Why would a policyholder enter into this type of loan arrangement? The answer lies in the fact that if the money is borrowed to earn business or investment […]

By Kevin Wark |February 23, 2009

4 min read

Decorative pattern

Market blow to UL

Both partners in a high-net-worth couple had each taken out a universal life insurance policy with the accumulation account linked to the Dow Jones Industrial Average. They saw two benefits to the policies: reasonably priced insurance and tax-sheltered investment. When the markets melted down last fall, the investment value of their accumulation accounts fell by […]

By Al Emid |January 1, 2009

4 min read

Decorative pattern

Out to pasture

Last week, our client management software supplier told us that as of next December, it’ll no longer support our system. The notice dealt a double whammy because the company doesn’t plan on replacing the software, and no other company has plans to step in. This abrupt severance of a 20- year relationship induced a sense […]

By David Wm. Brown |January 1, 2009

3 min read

Decorative pattern

Par for the course

On more than one occasion, I’ve exchanged views with clients and colleagues about participating (par) whole life. At issue are various nuggets of wisdom passed along by industry associates, and others who share a view that par provides a poor rate of return. While whole life providers have given advisors a plethora of marketing material […]

By Jason M. Pereira |January 1, 2009

6 min read

Decorative pattern

Bomb shells

For most clients and advisors the ongoing financial crisis has been measured by its impact on investment portfolios. But it has also generated questions about insurers and insurance products, among them universal life (UL) insurance and whether that product is about to drop a bomb, as the expression goes. UL has three main components funded […]

By Al Emid |December 16, 2008

7 min read

Decorative pattern

Do-Not-Call rules create silver lining

Congratulations, you’re a telemarketer. At least that’s what you are in the eyes of the newly enacted Do Not Call Legislation (DNCL). Among other things, advisors’ firms must now register with, and provide information to, the National DNCL operator before initiating a telemarketing communication. But how will this change your world? And what potential opportunities […]

By Helena Smeenk Pritchard |December 12, 2008

4 min read

Decorative pattern

Assuring solvency

It was April 1943. An enthusiastic fellow entered the head office of an insurance company for a job interview. After a barrage of questions from the interviewer, the prospective insurance agent was asked if he had any questions regarding the position. “Yes,” the applicant said, “what would happen to my clients if your company went […]

By David Wm. Brown |December 1, 2008

3 min read

Decorative pattern

Premium Advice — Will the TFSA kill or help insurance sales?

With the new Tax-Free Savings Account (TFSA) offering clients another place to park their dollars, it’s likely insurance advisors are wondering how this savings vehicle will affect their business. So, will the TFSA help or hurt insurance sales? In short, it will do both. First, a brief overview of the proposed structure for tax-free savings […]

By Chris Paterson |November 3, 2008

5 min read

Decorative pattern

Insurers granted relief on seg fund reserves

The Office of the Superintendent of Financial Institutions (OSFI) has announced revisions to its capital rules for segregated fund guarantee obligations, obligations for life insurers with approved internal models. The changes mean that approved insurers will face less pressure to shore up their capital reserves, which have been hit hard in the past two months […]

By Steven Lamb |October 29, 2008

2 min read

Decorative pattern

Advisors can influence underwriting outcome

(October 2008) It’s the unpleasant scenario far too many advisors face: you have a client ready to commit to a new life or health policy, but the client’s health is questionable. Yet many advisors are not adequately helping their clients to increase their odds of a better underwriting result, according to the medical director of […]

By Mark Noble |October 22, 2008

6 min read

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