Life

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 […]

By David Wm. Brown |June 16, 2006

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 […]

By David Wm. Brown |April 7, 2006

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 […]

By David Wm. Brown |November 10, 2005

5 min read