FEBRUARY 2015: Articles from our monthly print edition

12 Mar 2015

Hodgepodge of provincial pension rules may lead to conflict during marriage breakdowns

Canadian provinces have a hodgepodge of rules dealing with pension entitlements when a marriage dissolves, leaving a long list of possible issues for lawyers, courts and financial advisors, lawyers told a recent seminar. (Read more)

12 Mar 2015

Increase in older workers creating new challenges

While older workers provide leadership and represent a good chunk of the Canadian workforce, the plain fact is that profit drives successful businesses and older workers are often considered to be expensive and frequently unproductive, a seminar sponsored by the Ontario Regional Council of the Association of Canadian Pension Management was told. (Read more)

10 Mar 2015

Help your clients get their businesses up and running

For their ventures to succeed, small business owners will need to develop business growth plans. Sarah Adams, RBC’s Toronto-based vice-president, small business, said a business plan is the core element of a business and is critical to its success. “Once it is in place, it will allow the owner to check whether the business is on track.” (Read more)

10 Mar 2015

Why SMEs fail

According to a recent BMO Wealth Management Survey, Entrepreneurs: Definitely Not Your Ordinary Business Owner, only 51% of small and medium-sized businesses survive to the five-year mark. And the odds of a business’s survival fall each year after that. (Read more)

05 Mar 2015

Manulife adopts new benchmark definitions

On Jan. 26, Manulife Financial revamped its critical illness insurance product Lifecheque by pruning prices and adding illnesses covered. In doing so, the insurer also adopted the industry’s new benchmark definitions for critical illness insurance. (Read more)

03 Mar 2015

Two players could reignite the group CI insurance market

The usually stagnant group critical illness (CI) insurance market had an eventful start to the year. Assumption Life has launched a group CI insurance product for the first time, and SSQ Life has introduced a new version of its product in a bid to outdo its competitors. (Read more)

26 Feb 2015

Do your own due diligence before switching MGAs

It almost certainly doesn’t feel that way for advisors making the switch, but of the different distribution paradigms an independent advisor might be aligned with or using, those moving their business from one Managing General Agency (MGA) to the next, would appear to have the most reasonable course to follow, comparatively, when getting their block of business transferred. (Read more)

26 Feb 2015

Peak Financial Group acquires HBO Financial Services

Peak Financial Group has announced that it acquired HBO Financial Services, a firm based in the West End of Montreal, from Boris Ozbalt. (Read more)

24 Feb 2015

Shared ownership of CI insurance nearing 15-year test

The concept of shared ownership critical illness insurance for protection of key employees, which emerged about 12 years ago, is poised to pass the ultimate tax test: activation of the 15-year return of premium guarantee. Will key employees be taxed on this refund? Hazy income tax rules mean that anything is possible. (Read more)

24 Feb 2015

Add life to your life insurance presentations

What can I do to build desire and enthusiasm for buying when I make my life insurance sales presentations? (Read more)

24 Feb 2015

Insurance proceeds exposed under a deceased’s support obligations

At issue

To some lawyers who have practiced in the area of family law, that term may seem a bit of a misnomer. In my case, it was the first 2-3 years of my legal career, and based on that relatively brief experience, I would suggest that a more apt title might be ‘breakdown-of-family’ law. (Read more)

24 Feb 2015

Mutual funds face strong competition from back-to-basics segregated funds

Managing general agencies (MGAs) say a new variety of stripped-down, lower-cost segregated funds is becoming big competition for the mutual fund industry. (Read more)

24 Feb 2015

Compliance demands continue to grow

Are MGAs and advisors prepared to meet the industry’s new standardized compliance practices? (Read more)

24 Feb 2015

The duty of disclosure by a life insurance applicant and how a life agent can help, Part 2

In the previous article published in the November/December issue, the authors discuss the subject of the duty on a life insurance applicant to make full disclosure of all material facts. This article will discuss some of the applications of the concepts discussed earlier. It will also canvass the role of the life agent in the discussion. (Read more)

24 Feb 2015

Help your clients beat the money blues

If your clients express worry about their money, it’s a good sign you need to be doing some work with them. (Read more)

24 Feb 2015

CAILBA aligns toolbox with new standards

The Canadian Association of Independent Life Brokerage Agencies (CAILBA) has had a major rewrite of its compliance toolbox to align it with new standards coming out in the life insurance industry. (Read more)