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• Senate report proposes voluntary group savings plan for Canadians

  A Senate Committee report called for several changes to Canada’s retirement savings system, including a proposal to establish a voluntary retirement savings plan and a recommendation to allow Canadians an additional $100,000 lifetime contribution room in their Tax-Free Savings Accounts (TFSAs). Senator Michael Meighen, Chair of the Standing Senate Committee […]

• Quebec MGAs called on to regroup their forces

  Rising regulatory pressures mean Quebec’s MGAs need to begin working together to rebuild an association for themselves or join CAILBA as a Quebec chapter, said panellists at The Insurance and Investments Convention on Nov. 9 in Montreal. During the summer of 2009, Quebec’s MGA organization, Association des cabinets gestionnaires de […]

• AXA offers all-in-one mortgage insurance policy

  On Oct. 1, AXA Canada introduced Loan Insurance, a credit insurance product that offers life coverage with multiple terms. Insured can tack on disability, critical illness and assistance. The life component: offers a choice between 10, 15, 20 and 25 year terms for individual, joint-first-to-die or multi-life, up to six […]

• Optimum: prudent management drives business growth

  Optimum Group sales soared by 28% from 2008 to 2009. The insurer’s secret: prudent investment management. Return on shareholder’s equity was 12.8%, mirroring the average performance of the last ten years. Since the early 2000s, sales growth at Optimum has slowed, stunted by the variation in the Canadian dollar compared […]

• Advice for young advisors: determination pays off!

  He has yet to hit 30, and only six years into his career Alexandre Moïse already earns a six-figure annual income and has hired an assistant. Mr. Moïse has attended each of the Sales Champions conferences held at The Insurance and Investments Convention throughout his fledgling career. For six years […]

• Sun Life offers 200 investment options in my money for life

  Sun Life Financial may be the second player to launch a group guaranteed withdrawal benefit product, but it is the first to offer nearly 200 investment options. By comparison, Manulife Financial’s Group IncomePlus is linked to only one balanced fund. Sun Life says that participants in defined contribution (DC) plans […]

• Desjardins looks to reduce risk

  Before being taken off the market, Desjardins Financial Security’s Helios Guaranteed Minimum Withdrawal Benefit (GMWB) product collected $400 million in net sales, and a portion of this money went into a 100/100r option, which protects all of an investor’s capital both at maturity, and in the event of death. After […]

• Market crisis stalls sales

  Sales of financial advisory practices have stalled since the market crisis of 2008, according to Cindy Jenner Cowan, Director, Training at Worldsource Financial Management.  “The trend since the market declined is that many advisors have decided not to sell. We saw many deals get shelved. The values of practices have […]

• E-transaction system would be good for advisors’ business

  A survey of insurance advisors on electronic application submission and processing indicates that advisors believe an e-transaction system for the life and health industry would be good for their own businesses, according to a recent survey.  The survey results were released following a summit meeting on an initiative that aims […]