Life

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

Life

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

Life

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

Life

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

Premium Advice — Forgotten insurance practices shine in volatile markets

Headlines of bailouts, rescue plans and bank failures no doubt have your clients on edge, but I bet most of those frantic calls you’re getting centre around whether or not someone’s portfolio can withstand the downward market pressure. Insurance planning, though, has historically played a crucial part in financial planning during periods of market disruption. […]

4 min read

Premium Advice — Forgotten insurance practices shine in volatile markets

4 min read

Aging insurance

It seems we’re overdue for a reality check. According to various statistical studies, life expectancies of both men and women are increasing. In 1996, there were 3,125 centenarians in Canada; in 2001 the number grew to 3,795; and this segment of the population is steadily increasing. Undoubtedly, an aging population has huge economic ramifications for […]

3 min read

Joint venture

As I enjoy a coffee break at the 2018 Distribution Symposium, I think back to the days when the Managing General Agencies and the Mutual Fund Dealerships attended separate conferences. Our issues were so different, our agendas so diverse. We didn’t have similar goals back then, and although we knew the industry was changing, we […]

3 min read

Giving the insurance industry a makeover

For the most part, people have a negative view of insurance and the insurance industry. Many consumers see insurance as a “grudge” purchase and feel that insurance salespeople just want to push a policy and move on. And while it’s true that some advisors disappear after selling a product, many work diligently to establish relationships […]

By Mark Halpern |September 11, 2008

5 min read

Indulgent incentives

Our agency recently won two contests, separately held by two large insurance companies. Both awards, based on productivity levels, included lavish holidays or conference trips worth thousands of dollars. Unfortunately, because of time constraints, we were unable to take advantage of either. One of the insurance companies, understanding the reason we couldn’t attend, uncharacteristically doled […]

3 min read