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embedded life insurance commissions

The Pros and Cons of Banning Embedded Commissions

Morning Star defines embedded sales commissions (also known as trailer fees) “as service commissions paid by the mutual fund company to the sales representative managing your mutual funds. This commission is paid as long as you hold units in the fund. Commissions generally range from 0.25% to 1% and are paid out of the management fund's expenses. The trailer fee compensates the advisor for ongoing service. These services can include, answering questions about the performance of your ...
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What-Is-Term-Life-Insurance

We’ve Got The Answers: What is Term Life Insurance?

Today's Question: What is term life insurance? Life Insurance can generally be broken down into two categories: term insurance and permanent insurance. With term life insurance, the premiums start off at a lower cost, but increase as you get older. Whereas with permanent life insurance, the premiums start off at a higher cost, but remain level for life. The type of insurance that best suits an individual depends solely on that individuals needs.Considering a term life insurance ...
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top reason life insurance is declined

Top Reasons Your Life Insurance Will Get Denied

Life Insurance is designed to provide a financial safety net to the ones left behind in the unfortunate event of death. However, there may be instances when an insurance claim is denied. The best way to avoid this from happening is to follow the rules. Understand your policy and follow these simple rules to ensure your investment in your family's future will be protected. 1. Lying On Your Application Leaving out certain items or fudging the truth a bit might sound harmless enough, but ...
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life insurance and acts of terrorism

Why Acts Of Terrorism Are A Small Risk For The Life Insurance Industry

Acts of terrorism seem to be a daily event these days. These attacks have caused the insurance industry to suffer massive losses due to property damage. But, how has this affected life insurance? For the most part, the impact on life insurance has been minimal. Not because people haven't lost their lives in terrorist attacks, but because the risk of dying from an act of terrorism are very slim. As seen in this instagram, heart and cardiovascular disorders are by far the greatest threats ...
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How Do I Get Referrals

We’ve Got The Answers: How Do I Get Referrals?

Today's Question: How do I increase the number of referrals I get? This question has been asked a lot to me over the past 23 years and it is an excellent question. Referrals can be the life blood of any sales business. In terms of lead generation, referrals are one of the simplest ways to gain trust worthy leads and clientele. Referrals can be broken down into two categories; passive referrals and active referrals. How exactly do these types of referrals differ from one ...
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Overweight-Qualify-For-Life-Insurance

We’ve Got The Answers: I am Overweight; Can I Qualify for Life Insurance?

Today's Question: I am overweight; can I qualify for Life Insurance? The short answer is yes, you can qualify for Life Insurance. The long answer is, you have to find a plan what best suits your current situation. You must determine if a fully underwritten plan, where they do a full series of questions and some medical tests is a good route, or if a simplified issue plan, where there is still a full series of questions, but no medical tests is a good route.With a fully underwritten ...
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life insurance bargain

Why Life Insurance is a Bargain

The cost of living drains every penny we have. The average Canadian lives from pay cheque-to-cheque. When striving to make ends meet, the added expense of life insurance premiums seems like a luxury we can do without. The truth is, life insurance is not a luxury, it is a necessity and the potential cost of not buying insurance can be devastating. Sometimes we get so focused on putting out the immediate fire that we forget about the embers that may be ready to spark in an another area. We ...
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life insurance genetic testing

How Should Advisors Handle Genetic Tests in Wake of New Law?

In Wake of the new Genetic Non-Discrimination Act, Sun Life Financial sent a message guiding financial advisors on how to proceed. This message was recently posted in the Insurance & Investment Journal. After years of debates and negotiations, the new law prohibiting anyone from requesting the results of genetic tests or to undergo genetic testing, is now in force. Anyone not abiding by this law could face severe consequences such as up to five years in prison and $1,000,000 in ...
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life insurance reality

The Perception of Life Insurance Vs Reality

As strong believers in the importance of protecting the future of your family, we are quite concerned about some of the perceptions many clients have of our industry. These perceptions may impede the growth of our industry, but worse, leave many families unprotected. Life insurance conversations can be tough. Most people don't want to think about it, but it is an important conversation everyone must have at some point. Misconceptions about life insurance makes the conversation even more ...
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Life-Insurance-Suicide-Pay-Out

We’ve Got The Answers: Does Life Insurance Pay Out in the Event of Suicide?

Today's Question: Does a life insurance policy pay out in the event of suicide? Suicide is certainly a tragic event that sadly, affects a plethora of people. It is not something the majority of individuals take into consideration when taking out a life insurance policy, but because it is something that happens, it is important to know how it affects the policies pay out.Most life insurance policies have a two year suicide provision and incontestability provision. This means, if an ...
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