OCTOBER 2014: Articles from our monthly print edition

21 Oct 2014

Critical illness: second quarter upswing

Critical insurance illness sales in Canada were down 2% in terms of premiums in the first half year compared with the same period in 2013, following a strong second quarter. The industry regained its footing after premiums plunged 9% in Q1 2014 compared with the same quarter in 2013. (Read more)

21 Oct 2014

Universal life sales up for first time since 2011

New annualized universal life premiums advanced between the second quarter of 2013 and the same quarter of 2014. This is the first premium growth for this product since the fourth quarter of 2011. (Read more)

02 Oct 2014

Allianz Global Assistance and TIC Travel to Merge

On September 30, Allianz Global Assistance Canada and the Co-operators Life Insurance Company’s subsidiary TIC Travel Insurance Coordinators announced plans to merge their Canadian operations. (Read more)

21 Oct 2014

Some stakeholders anticipate compensation disclosure requirements for life insurance products

The mutual fund industry has long felt it has been the target of mounting regulations – rules that the insurance and other financial services industries do not have to follow. But now those in the insurance field are saying it’s probably just a matter of time before they’re next, especially when it comes to issues of disclosure and transparency. (Read more)

21 Oct 2014

Leverage your Learning with a Study Group

How do I go about setting up a study group? (Read more)

21 Oct 2014

CLHIA sets out standardized compliance practices for MGAs

The Canadian Life and Health Insurance Association has issued a new reference document aimed at providing Canada’s managing general agencies with standardized guidelines as they develop and implement their compliance programs. (Read more)

21 Oct 2014

B2B Bank propels the profitability of Laurentian Bank

B2B Bank is definitely a growth engine for Laurentian Bank. (Read more)

21 Oct 2014

The Inheritance Dilemma!

We’ve all heard many times that somewhere around one Trillion dollars is changing generations over the next 20-30 years in Canada. One Trillion Dollars! While the number is surreal, alarming and almost unimaginable in magnitude the question is what are the implications, and how do advisors prepare? (Read more)

21 Oct 2014

Use social media to strengthen relationships

A large number of financial advisors in Canada who use social media are failing because they are using social media as marketing tools, rather than a way to build and strengthen relationships, say experts. (Read more)

21 Oct 2014

Older clients may face a number of challenges

The clients you have worked with for many years will have their finances in order as they move into retirement. But new clients who come to you may need help in making a successful transition from their accumulation years to their de-accumulation years. (Read more)

21 Oct 2014

Insurers denounce third-party premium financing schemes

Insurers are denouncing a scheme in which a third party pays the premiums on a life policy in exchange for giving the insured person a loan, often at a higher than average rate of interest. The lender is reimbursed at the insured’s death. Several companies are prohibiting their advisors from participating in these kinds of activities. (Read more)

21 Oct 2014

Robust first six months for segregated funds and annuities

Premiums grew in all annuity market segments, both in the second quarter of 2014 versus a year earlier, and in the first half of the year compared with the same period in 2013. In particular, there was a major upsurge for segregated funds, which ended 2013 down from 2012. (Read more)

21 Oct 2014

New group CI product aims to improve definitions

Attempt to get away from standard Critical Illness (CI) benchmark definitions when trying to underwrite a better product, and there are going to be delays. (Read more)

21 Oct 2014

Life insurers’ association adopts new code on genetic testing

The Canadian Life and Health Insurance Association (CLHIA) has reaffirmed an integral piece of its position on genetic testing, adopting a new industry code on an issue that has caused some consternation among privacy advocates and interest groups. (Read more)

21 Oct 2014

Advisor screening spurs data sharing initiative

Advisor information – the type typically sought by compliance departments – is the latest data set industry collaborators hope to standardize and centralize, making it available to those who need it, without the manual and redundant processes in place today. (Read more)