Life Insurance Canada News:

News from 2008

ACE Life launches new option for its group critical illness plan – Lorne’s comments

As reported in the June/July 2008 issue of Insurance Journal, ACE Life is offering a new feature to help insured employees navigate their way through cancer treatments. On April 23, 2008 ACE Life announced it had added CAREpath as an option for its Spectrum group critical illness plan. The service assigns those who have been diagnosed with cancer a personal oncology nurse who can answer questions and provide advice before, during, and after treatment. ACE Life said the plan will be ...
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Families overlook critical illness insurance

According to the Canadian Cancer Society, 3,200 Canadians are diagnosed with cancer every week. There will be more than 166,000 new cases in Canada this year with over 73,000 people dying of their disease. These stats are quoted by the Toronto Sun, in a recent article written by Terri Williams. She maintains that we all know that there is nothing more certain in life than death and taxes. "Life insurance can protect your family from the financial impact of your untimely death, but ...
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Give your Blackberry a vacation!

Desjardins Financial Security's National Health Survey results show that more entrepreneurs should turn off their blackberries and make relaxation a priority this summer for the sake of their physical and mental health. Entrepreneurs who participated in the survey were asked to rate their current level of financial security, mental and physical health, and their stress level compared to the previous year. Close to 92 per cent said they were financially sound and 77 per cent were in very ...
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Standard Life launches India fund

Standard Life Mutual Funds Ltd., an affiliate of The Standard Life Assurance Company of Canada, announced the launch of the Standard Life India Equity Focus Fund, one of the first funds in Canada to capitalize on opportunities in India's fast growing economy. This fund is part of a wider launch, which also includes a T-Series for ten Standard Life existing funds, as well as the two new Portrait Portfolio fund-of-funds - Dividend Growth & Income Funds and Global Portfolio. "I ...
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Equitable reprices term plans

Equitable Life has reprised their 10- and 20-year renewable and convertible term plans to be more competitive in their target markets. They have also discontinued their term conversion credit program. Equitable Life will continue to honour conversion credits for previously issued policies. Lorne’s comments Equitable Life has lowered their already competitive rates for most age groups. Their term plans are also renewable and convertible, up to age 71, to permanent plans without a ...
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Industrial Alliance Buys Money Concepts and AEGON Canada

Industrial Alliance (IA) has obtained all regulatory authority approvals for the acquisition of National Financial Corporation, the parent company of AEGON Dealer Services Canada Inc., Money Concepts Limited and National Financial Insurance Agency Inc, the company announced in a press release. This transaction strengthens IA's position as a leader in the distribution of mutual funds in Canada by expanding its diversified network of independent financial advisors. IA's two mutual fund ...
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No more Plus with Empire Life’s Vital Link

Effective July 7, 2008, the Vital Link Basic plan (three illnesses) will no longer be for sale and the name “Vital Link Plus” will become simply “Vital Link.” The Vital Link definitions for 22 of the 23 insured conditions will reflect new industry benchmark definitions. Lorne’s comments This is a good news–bad news scenario. Empire Life’s Vital Link Basic was a stripped-down critical illness plan for cost-conscious consumers. It provided a ...
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A new name: Manulife Securities

Manulife Securities is the new trade name for a group of companies consisting of a mutual fund dealer, investment dealer and insurance agency operating across Canada, following Manulife’s purchase of Berkshire-TWC Financial Group Inc. “We are operating as a strong national firm that offers new opportunities for independent advisors serving their clients across Canada, committed to delivering the same high-quality service we provided in the past,” explained Manulife Securities’ President ...
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Canadian insurers welcome competition report

The Canadian Life and Health Insurance Association (CLHIA) welcomes the Competition Policy Review Panel's report, Compete to Win. "The life and health insurance industry is pleased that the report recognizes that it is vital for Canada to enhance its competitiveness both domestically and internationally," said Frank Swedlove, President of the CLHIA in a press release. The industry was particularly pleased with the Panel's recommendations for; The continued ...
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Standard Life’s “retirement dashboard”

The Standard Life Assurance Company of Canada introduced a new website to allow group savings and retirement plan members to take ownership of their plans. Offering a so-called "retirement dashboard", the site provides members with an overview of their planning activities, their contributions, account balances, asset allocations and projected retirement assets, every time they log on to the website. "The new VIP Room for plan members, in my, and our clients' opinions, ...
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