Insurance

Long-term disability claims: Helping clients and their group members

Prior to forwarding the applications to the insurer, check them for completeness. Explain to applicants the pitfalls of incomplete or misrepresentative information in an application. Explain to applicants the pitfalls of incomplete or misrepresentative information in an application. Prior to forwarding the applications to the insurer, check them for completeness. If required, confirm the employed […]

By Harold Geller |July 2, 2009

6 min read

Living Benefits

The breast cancer claim process

Do you sometimes wonder why underwriters make certain decisions? Need insight into the different claims processes or help explaining things to clients? This mini-series from Munich Re will provide some answers. A family history of cancer does not automatically lead to a declined critical illness insurance application. A number of factors must be taken into […]

By Hélène Michaud |June 19, 2009

4 min read

Life

Insurance advisors shake off recession

A life insurance licence has proven its worth during this recession. Individual life insurance sales in Canada specifically held up remarkably well in what has been an extraordinarily bad recession, according to LIMRA. “Canadian life insurance sales were relatively level, actually. With only a 1% decline for annualized premiums in the first quarter of 2009,” […]

By Mark Noble |June 15, 2009

3 min read

Life

Premium Advice: Structuring the buy-sell transaction

Since structuring buy-sell arrangements can be very flexible, and provide unique benefits and challenges to both the buyer and seller, it’s necessary to have a global scope of the needs of each party. Let’s see how our sample clients, Bradley Armbruster and Franklin Jones, structured their buy-sell. Keep in mind that I will be oversimplifying […]

By Chris Paterson |June 8, 2009

5 min read

Legally speaking: Restrictive covenants in advisor contracts

All restrictive covenants should be negotiated prior to the commencement of the contractual employment or services relationship; Parties must carefully negotiate a clearly defined geographic area as well as a reasonable and limited time for the restrictive covenant; Do not add unnecessary or overly restrictive terms to a restrictive covenant; and Specifically indicate in the […]

4 min read

Premium Advice — Buy-sell arrangements, Part 2

In last month’s column, I discussed the importance of reviewing buy-sell arrangements and the funding for those arrangements. This month, we’ll look at what the structure might look like. Although many advisors or other professionals may have their own biases, a needs-based, client-centric approach is best for all to start with. Consider the case from […]

4 min read

By the numbers: Women in the advisor channel

The traditionally male-dominated financial industry is headed for a female revolution, with statistics suggesting by 2010, 60% of American wealth will likely be controlled by women; and these women prefer to deal with women. In conjunction with our conference for women financial advisors, "Investing in You," Tricia Benn and Elizabeth Hall, director and senior research […]

1 min read

Understanding multiple sclerosis

Primary-progressive MS — less common (10 to 15%), people with this type have a nearly continuous worsening of symptoms with no clear relapses or remissions. Relapsing-remitting MS — characterized by clearly defined attacks (relapses) followed by complete or partial recovery (remissions). This is the most common form representing 75% at the time of diagnosis. Relapsing-remitting […]

9 min read

Insurance Review

The Canada Revenue Agency (CRA) announced last year that it would be reviewing leveraged insurance arrangements, commonly referred to as “10/8 programs.” This review is supposed to be part of a broader audit project relating to insurance company policyholder tax compliance. Insurance leverage programs typically comprise the following characteristics: 1. An individual or corporation acquires […]

By Kevin Wark |April 29, 2009

7 min read

Premium Advice: The need to review buy-sell arrangements

In the current economic environment, many business owners have to face the reality of the true sustainability of their business due to constrained cash flows, increased and more aggressive competition and the deferral or cancellation of orders. Unfortunately, for businesses undergoing an unforeseen exit of a major shareholder, many of those same challenges can be […]

3 min read