Latest news in Life

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Why rate hikes shouldn’t dissuade insurance policyholders from participating

Par life accounts eventually benefit from higher interest rates

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Canada Life acquires Value Partners Group

Deal adds investment counsel portfolio managers to Canada Life

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Corporate-owned life insurance as a charitable gift

Avoid bloopers when designating a charity as policy beneficiary

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Life insurers increase Assuris protection

Clients now get protection for at least 90% of their death benefits, seg fund guarantees and other coverages if their life insurer fails

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Insurance regulators promise new guidance on upfront compensation structures

Advisor chargebacks need robust controls, CCIR and CISRO said

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Advice-gap debate comes to insurance industry

Ahead of the proposed DSC ban for seg funds, a familiar refrain is in play

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Life agents falling short, FSRA finds

Almost half of high-risk agent reviews found best-practice failures

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Participating whole life: What it can and can’t accomplish

Advisors should “show a less rosy picture” than the DSIR

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FSRA’s Huston Loke appointed CCIR chair

Loke replaces Robert Bradley as head of the insurance regulators' association

  • By: Staff
  • April 24, 2023 April 24, 2023
  • 15:25
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FSRA finalizes seg fund DSC ban

Final rules for a ban beginning June 1 were sent to the finance minister for approval

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FSRA proposes new conditions on life MGA

Supervision framework “largely based on delegation to upline agents,” regulator alleged

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New insurance product for charitable donations could minimize philanthropy risk

Canada Life product addresses insurance-trafficking concerns that have previously dogged donations of life insurance

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‘Bank run-type scenario’ at lifecos highly unlikely: DBRS

Causes of SVB failure unique to banks but some life insurance contracts with investment features are liquid, report says

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Hundreds of Ontario insurance agents targeted for CE non-compliance

A FSRA review resulted in 445 letters of warning for failing to complete continuing education hours

  • By: Staff
  • March 9, 2023 March 9, 2023
  • 13:38
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Hub Financial acquires BridgeForce in Ontario

Protecting independence of advisors was “foremost” in the decision, BridgeForce co-presidents said

  • By: Staff
  • February 2, 2023 February 2, 2023
  • 13:22

Joint last-to-die policies and liquidity challenges

Consider how to best leverage the special death benefit

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Seg fund chargebacks: Conflict of interest or good DSC substitute?

Insurance regulators ponder seg fund upfront commissions

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Total cost reporting guidance for seg funds coming this spring: FSRA

FSRA also reiterated that it wants clients to be protected from seg fund deferred sales charges, regardless of when the funds were purchased

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FSRA orders Greatway Financial to deliver revised training

Greatway must also send its universal life policyholders information to assist them in assessing the policy's appropriateness

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AMF releases draft seg fund DSC ban for comment

Quebec regulator proposes $5,000 penalty if insurers charge DSCs for seg funds

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Insurance regulators release guidance targeting unfair incentives

The regulators concluded that some incentive practices may present risks to the fair treatment of customers

  • By: Staff
  • November 30, 2022 November 30, 2022
  • 15:52
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Cross-selling opportunities prompt P&C brokerages to buy advisors

Actual assets under management of advisor aren’t always worth purchasing on their own

FSRA proposes DSC ban for seg funds

Proposal would eliminate regulatory arbitrage between seg funds and mutual funds

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How to talk to young clients about life insurance

The younger you are, the more affordable the coverage is

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iA reports lower profit in Q3

Retail fund sales remained positive as customers sought cash-equivalent products

  • By: Staff
  • November 9, 2022 November 9, 2022
  • 12:11