Life

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

Life

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 […]

By David Wm. Brown |August 1, 2008

3 min read

Life

Premium Advice — Using insurance to ensure a happy second marriage

A lot of our clients are successful in business, but marriage is another story. Many first-time unions have ended in divorce because of an overworked husband or wife, but now that they have a solid career, it’s often time to find a special someone again. Life isn’t as simple for your client as it was […]

By Chris Paterson |June 3, 2008

4 min read

Life

Ways to approach wills and insurance

(August 2007) A life insurance policy is the one financial product that your client is probably not keen to see paid out anytime soon. But like a will, life insurance is an estate planning tool that will bring certainty to a client’s legacy. Corry Collins, a CFP and chartered life underwriter at Halifax-based Living Benefits […]

By Mark Noble |August 17, 2007

4 min read

Shades of grey

The term “field underwriter” takes on a new meaning when an advisor starts selling long-term care insurance. The policies are complex and require advisors to do more field research and ask applicants probing questions, regardless of whether they’re being acquired for elderly clients or younger prospects. Without strict attention to detail, a high percentage of […]

5 min read

Mandatory memos

I’ve just completed drafting our company’s Advisor Disclosure Document, which we will be sending to clients for their signatures starting this year. The document is required by Regulation 347/04 of the Ontario Insurance Act. Other provinces have similar requirements. The new rule, which updates its predecessor, Regulation 663, introduces a new provision on disclosure of […]

5 min read

Trust specifics

Using a life insurance testamentary trust to receive the proceeds of a life insurance policy has many advantages for estate planning, including control and management of the distribution of the funds; tax advantages from the graduated rates; and the avoidance of probate fees. Once a decision is made to create a trust, it becomes the […]

5 min read