Genes, Testing, and the Angelina Jolie Effect

In May 2017, the Canadian parliament passed the Genetic Non-Discrimination Act (GNA) – formerly known as Bill S-201 – that precludes, under certain conditions, the insurance industry’s ability to use genetic tests for underwriting. The GNA, an Act to prohibit and prevent discrimination, states that genetic test information can no longer be requested or used in rendering underwriting decisions.

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Your Genes, Your Business


How PPI Valet Can Help Your Business

What is PPI Valet?

  • At its core, PPI Valet connects you to a robo-advisor service that you can offer your clients
  • Powered by WealthBar, PPI Valet is an advisor platform that helps you provide your clients with easy to access, low cost, professionally managed investment portfolios

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Should You Consider Using a Robo-Advisor?


Explain How Insurance Delivers Both Security and Opportunity to Business Owners

As a business owner, insurance can provide not only protection, but also opportunity when it comes to growing one’s business. Life insurance policies can protect shareholders and their family members, the corporation itself, and key persons to the business. And, it can also enhance the cash flow to the corporation by assigning the policy as collateral for a loan.

As an advisor who runs your own practice, you are likely aware of how this works. But do your clients who are business owners need a little help in learning more about their options? Do they have a shareholders’ agreement, key person insurance, or understand how corporate insurance can be used tax effectively to benefit a charity?

Here’s a client article that helps explain how business owners can utilize insurance to provide both opportunity and security while building their assets in a tax-effective way for their retirement or estate plan.

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How Insurance Provides Security - and Opportunity - for your Business


Is Joint Last-to-Die Insurance Right for Your Client?

If your clients are uncertain on whether joint life coverage is right for them and their spouse, highlight the following benefits for them:

  • The cost of insurance used at the time of issue will be lower than the single life cost currently charged and is fully guaranteed
  • The tax free death benefit receipt coincides to the payment of taxes on the death of the surviving spouse
  • It can help achieve intergenerational wealth transfer, charitable giving and legacy planning

Read the article below that explains this in more detail and share it with your client from thelinkbetween.ca, our client-friendly insurance blog.

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Is Joint Insurance Coverage Right for You and Your Spouse?


Helping Your Clients Understand Segregated Funds

Segregated Funds have been around for over 50 years yet many Canadians have never heard of them. As their advisor, you can help your clients understand more about them so they can explore all their options and achieve the right balance for their retirement.

Share the short client article below and educational video that explains what segregated funds are and provides examples of two portfolios in a bull market and a down market.

Contact your client today to help them achieve that peace of mind.

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Growing and Protecting Your Retirement Savings


Policy Transfers from Individuals to Corporations: Still Worthwhile?

The following is an excerpt from the 6th edition of Estate Planning with Life Insurance, by Glenn Stephens, released November 2016. This has been updated to consider changes to the passive income rules introduced in the 2018 budget. 

The March 22, 2016 budget eliminated the income tax advantages of many policy transfers from individual shareholders to corporations. However, the changes primarily affect transactions that involve consideration significantly greater than a policy’s cash surrender value (CSV) or adjusted cost basis (ACB), and there is no requirement that a transfer from shareholder to corporation takes place at any particular price. In many cases, it will be to the client’s advantage to transfer a policy to his or her corporation for a lesser amount (generally not exceeding the greater of the policy’s ACB and CSV). Consider the following:

  • Where a policy’s ACB is greater than its CSV at the time of the transfer, it may be sold to the individual’s corporation for an amount equal to the ACB without tax consequences.
  • Where a policy’s CSV is greater than ACB, the difference will be taxable on any policy transfer from an individual to his or her corporation even if the consideration paid is less than CSV. In such cases, it may be advisable to set the purchase price at CSV as that will represent the minimum proceeds of disposition in any case. It may still make sense to transfer the policy if the resulting tax liability is not considered onerous.

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Help Family Enterprise Clients Avoid ‘Shirtsleeves to Shirtsleeves’

Running a family business has challenges that include head and heart issues which aren’t typically present in other businesses. However, the proverb about shirtsleeves to shirtsleeves – that family enterprises often fail by the third generation – does not need to be a reality for these families. Family enterprises can improve their chances of achieving intergenerational continuity by building their knowledge and skills – and by working with advisors who understand their unique needs and goals.

Continue reading “Help Family Enterprise Clients Avoid ‘Shirtsleeves to Shirtsleeves’”

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Empower the Enterprising Strength of your Family


Insurance Options

When your client is ready to create a financial plan, your role is to analyze their particular situation and help them choose the best combination of coverage and payment options. The decision-making process and the various available options can be a bit perplexing and stressful.

Share the client article below and accompanying short video that introduces what options are available and the process of purchasing a policy.

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Smart Talk About Your Insurance Options


Categories of Insurance – Explained for Your Client

There are many categories of insurance plans and various products available that can make the decision-making for your client perplexing, stressful, and difficult. It is in your, and your clients’, best interest to help them understand the basic types of insurance and guide them in choosing the best combination of coverage and payment options.

Share the client article below and accompanying short video that explains the difference between Term and Permanent life insurance and more about other categories of insurance such as Living Benefits, Critical Illness, Long Term Disability, and Long Term Care.

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Smart Talk About Choosing the Right Insurance