1. Life Insurance Made Easy
Simplified Issue Products

2. Agenda Canadian Life Insurance Market Simplified Issue Products
What is it and for whom?
Underwriting
Purpose
Insurance Needs Covered
Funeral and final expenses
Probate fees
Income tax surprises
Your Business
Golden Protection

3. Canadians Underinsured
Almost HALF of Canadian households (6 million) admit they would have immediate trouble meeting expenses if a wage earner died.
Not only are they underinsured … They Know It !!!
About 2 in 10 households have NO life insurance at all.
Of those that have coverage over 30% believe they need additional coverage.
Only 23 percent of all households had an opportunity to buy through a personal meeting with a life agent .
Source: Billion Dollar Baby: The Sales Potential of the Underinsured Life Market in Canada (2007), LIMRA
For those who think the life insurance market is mature and opportunities for sales are limited, think again. Studies show that many Canadians are underinsured.
Source: LIMRA

4. Many Options How do simplified issue products fit in the picture?
Term Insurance
Mortgage Insurance
How do simplified issue products fit in the picture?
Participating Insurance
Of course, today, there are many options to fill insurance needs for clients: term, whole life, mortgage insurance, UL and participating insurance.
Since our topic today is simplified issue insurance, we’ll look at how this type of insurance can meet client needs as well as your business needs as an advisor.
Whole Life Insurance
Universal Life Insurance

5. What is it?
Does not require a medical exam, blood test, fluid samples or doctor’s report.
Easier to qualify for this type of life insurance than for traditional insurance.
One of the fastest ways to get life insurance because of the simplified issue process.

6. Who is it for?
People…
with certain issues that may cause a premium to be rated or a refusal on a traditional life insurance; or
who genuinely dislike needles or any type of medical exam; or
looking for a simple and fast process to get life insurance; or
who don’t want the value of their estate diminished by funeral costs and other final expenses; or
who want the tax-free death benefit to be paid quickly.
When you take a few minutes to think about it, you surely know people that fall in one or more of these categories.

7. Addressing Procrastination
Many Canadians put off buying insurance because they anticipate a difficult process, thinking it’s complex and confusing.1
Simplified issue products are:
easy to understand;
easy to apply for.
1. Source: Billion Dollar Baby - The Sales Potential of the Underinsured Life Market in Canada (2007), LIMRA

8. Underwriting
With simplified issue products like Golden Protection, the questionnaire on the application represents the underwriting process.
If all the answers to the questions are “no”, the client is insurable.
Clients don’t have to wait for weeks before finding out whether they’re insured or not.
No premium rating.
The waiting game is one source of frustration for clients with the life insurance process, especially when the result is a refusal or premium rating.
Another way to save time is that you can determine if your prospect qualifies for the insurance before hitting the road to meet them. For those of you who travel to meet potential clients, this will save you much time and frustration.

9. Underwriting Issues
Some of the elements that make it hard for people to get insurance:
Depression / Anxiety
MS / Parkinsons
High blood pressure
High cholesterol
Family health history
Height and weight restrictions
Diabetes
DUI / Driving record
Drug or alcohol abuse
It seems we see these issues pop-up more and more, especially with middle-aged people. Regardless of the reason, (earlier diagnosis, greater awareness of symptoms) these are all issues that can have an impact on the underwriting process of a traditional life insurance – more time to evaluate application, premium ratings, etc.
With a simplified issue product, many of these issues don’t come into play in qualifying a potential client. It’s a huge time saver! The client either qualifies for insurance coverage, or they don’t. No wainting, no guessing.
Who do you know are affected by one or more of these issues?
A simplified issue life insurance like Golden Protection could be the solution for them.

10. What about cost?
Premiums for a simplified issue life insurance are higher than those of a traditional whole life policy issued at the regular rate.
This is due to the higher risk taken by the insurance company on this type of product.
However, premiums for a simplified issue product may be lower than you think!
Some people tend to disregard simplified issue life insurance by saying it’s too expensive. Price is relative and you have to be careful of comparaing apples and oranges.
In general, if your client is in perfect health and has no bad health history in the immediate family, the majority will go for a fully underwritten life insurance at a lower cost. But for your clients with health issues that will probably result in a premium rating on a fully underwritten insurance, you will see that in many cases, the cost of a simplified issue insurance like Golden Protection is less.
That being said, we have seen in the past a few individuals that preferred paying more even if they were in great health to avoid needles. To them, because of their fear of needles, it was worth the extra money.

11. Cost Example Annual premium for $25,000 face amount for 65 year-old male non-smoker
Traditional WL is Wawanesa Life
As you can see here, even the least expensive traditional whole life policy costs more if it’s rated at 200% than Golden Protection. Don’t forget all the time saved with the simplified issue product.
*Lowest premium in LifeGuide October 2015 edition for the WL/Guaranteed Life Pay category.

12. Cost Example Annual premium for $25,000 face amount for 50 year-old male non-smoker
Traditional WL is Wawanesa Life
As you can see, when it comes to cost, people with certain issues that could result in premium ratings will find value with a simplified issue product. Some clients will also appreciate the value associated with the time they saved and the fact they didn’t have to provide fluid samples and “meet the needle” for a blood test.
Don’t assume people will find this type of product expensive. Show them what they get for the cost.
* Lowest premium in LifeGuide October 2015 edition for the WL/Guaranteed Life Pay category.

13. Cost Example Annual premium for $25,000 face amount for 65 year-old female non-smoker
Traditional WL is Wawanesa Life
As you can see, when it comes to cost, people with certain issues that could result in premium ratings will find value with a simplified issue product. Some clients will also appreciate the value associated with the time they saved and the fact they didn’t have to provide fluid samples and “meet the needle” for a blood test.
Don’t assume people will find this type of product expensive. Show them what they get for the cost.
* Lowest premium in LifeGuide October 2015 edition for the WL/Guaranteed Life Pay category.

14. Cost Example Annual premium for $25,000 face amount for 50 year-old female non-smoker
Traditional WL is Wawanesa Life
* Lowest premium in LifeGuide October 2015 edition for the WL/Guaranteed Life Pay category.

15. What is it for?
Due to the simple underwriting process, face amounts available are lower than traditional products.
Mostly used to cover funeral costs and other final expenses.
They can also be used to:
Cover small debts;
Grow the estate to be passed on to loved-ones;
Give to a charitable organization.
Permanent insurance will typically be limited to 50k and term insurance can go as high as 250k in some cases.
Funeral costs and other final expenses are a reality for everybody. This is the principal need that is met with permanent simplified issue insurance, although some people take it for other purposes.

16. At the end of the day, funeral costs will vary greatly from one individual to another depending on the different elements and services they include in their funeral plans.
The average amounts can serve as a benchmark for people who have absolutely no idea how much their funeral will cost.

17. Final Expenses Can include:
Probate fees (based on estate value, varies by province and territory)
Other legal fees
Accounting fees
Executor compensation
Income taxes

18. Probate Fees in Canada Value of Estates Probate Fees British Columbia
$0 to $25,000
$25,001 to $50,000
$50,001 or more $0
$ % of value in excess of $25,000
$ % of value in excess of $50,000
Alberta
$0 to $10,000
$10,001 to $25,000
$25,001 to $125,000
$125,001 to $250,000
$250,001 or more
$25
$100
$200
$300
$400 Maximum
Saskatchewan
Any amount
0.7% of estate value
Manitoba
$10,001 or more
$70
$ % of value in excess of $10,000
Probate fees vary greatly from one province to another. Some charge a negligible amount (flat fee) whereas in other provinces, the fees can be substantial (percentage of the estate value), especially for larger estates.
Financial institutions usually require that a will be probated before recognizing the authority of the will’s executor.
Source: Financial Advisor’s Pocket Reference , CCH

19. Probate Fees in Canada Value of Estates Probate Fees Ontario
$0 to $50,000
$50,001 or more
0.5% of estate value
$ % of value in excess of $50,000
Québec
Any amount
N/A (court verification fee only for non-notarial will)
New Brunswick
$0 to $5,000
$5,001 to $10,000
$10,001 to $15,000
$15,001 to $20,000
$20,001 or more
$25
$50
$75
$100
0.5% of the estate value
Newfoundland & Labrador
$0 to $1,000
$1,001 or more
$85
$ % of value in excess of $1,000
Source: Financial Advisor’s Pocket Reference , CCH

20. Probate Fees in Canada Value of Estates Probate Fees
Prince Edward Island
$0 to $10,000
$10,001 to $25,000
$25,001 to $50,000
$50,001 to $100,000
$100,001 or more
$50
$100
$200
$400
$ % of value in excess of $100,000
Nova Scotia
$77.00
$193.61
$322.31
$902.03
$ % of value in excess of $100,000
Source: Financial Advisor’s Pocket Reference , CCH

21. Probate Fees in Canada Value of Estates Probate Fees Nunavut
$0 to $10,000
$10,001 to $25,000
$25,001 to $125,000
$125,001 to $250,000
$250,001 or more
$25
$100
$200
$300
$400
Northwest Territories
Yukon
$0 to $25,000
$25,001 or more $0
$140
Source: Financial Advisor’s Pocket Reference , CCH

22. Income Tax Surprises Deemed disposition rule at death.
Money in registered accounts is fully taxable.
Half of capital gains on assets are taxable.
No tax consequence if assets are transferred to spouse or spousal trust.
Final return due April 30 of following year or 6 months after date of death (later of the two).
In addition to tax on income earned in the year of death, the deem disposition rule applied at death can result in some additional, unforeseen, taxable revenue.
If there’s an amount of tax owed to CRA, it will come from the deceased’s estate, thus lowering the amount left to loved-ones. It could also result in the sale of certain assets to cover the tax bill.
Because of the deadline to pay taxes, it is important to have the insurance benefit paid-out quickly to take care of the taxes ASAP.
Canada Revenue Agency
Final tax return
$XXXX

23. Funeral Cost Life Insurance Benefit Final Expenses
Canada Revenue Agency
$XXXX
Final tax return
By planning for final expenses and tax issues and putting life insurance in place to provide money to pay those expenses, the client’s estate value will be preserved for his loved-ones.
Final
Expenses

24. Preserve your client’s estate value for their loved-ones.

25. How does simplified issue products fit in your business?
Need is there.
Easy to understand.
Time efficient application process, issued quickly.
Good way to generate steady cash flow.
From a business perspective, simplified issue products is an easy way to grow your income in a time efficient manner. If you consider the little time it takes for a simplified issue policy to be issued compared with other insurance products, you will find it worth your while.

26. Generate more business in less time with Assumption Life simplified issue products!

27. Straightforward Permanent and Term life insurance protection with
NO MEDICAL EXAM

28. No Medical Whole Life - Immediate
Permanent life insurance guaranteed level premium
Life-pay (for issue ages 20-70)
No medical exam, no APS, no fluids or needles
Guaranteed cash values and excellent paid up value
Available for smokers and non-smokers
Simplified medical questionnaire

29. No Medical Whole Life - Immediate
Issue ages: 20 to 70
Policy Face Amount: $10,000 to $250,000
Guaranteed cash value and guaranteed reduced paid-up option after 5 years.
17 clear questions
Public Transportation Vehicle = boat, commercial aircraft, taxi, tramway, train, subway, bus, including the platform, steps
and stairs of such common carriers.
Minimum annual premium = $150

30. No Medical Whole Life - Immediate
Living benefit
50% of the sum insured in the event of a first-time occurrence of a terminal illness
Transportation benefit
$2,000 payable when death occurs at a site over 200 km away from primary residence
Annual fee
policy $80
rider (spouse) $60
Insurance coverage is immediate
Online application approved in hrs
FYC 45%
Living benefit and Transportation benefit not payable before 2nd anniversary of policy.

31. No Medical Whole Life - Deferred
Permanent life insurance guaranteed level premium
Life-pay (for issue ages 20-70)
No medical exam, no APS, no fluids or needles
Guaranteed cash values and excellent paid up value
Available for smokers and non-smokers
Simplified medical questionnaire

32. No Medical Whole Life - Deferred
Issue ages: 20 to 70
Policy Face Amount: $10,000 to $150,000
Guaranteed cash value and guaranteed reduced paid-up option after 5 years.
8 clear questions
Public Transportation Vehicle = boat, commercial aircraft, taxi, tramway, train, subway, bus, including the platform, steps
and stairs of such common carriers.
Minimum annual premium = $150

33. No Medical Whole Life - Deferred
Living benefit
50% of the sum insured in the event of a first-time occurrence of a terminal illness
Transportation benefit
$2,000 payable when death occurs at a site over 200 km away from primary residence
Annual fee
policy $80
rider (spouse) $60
Online application approved in hrs
FYC 35%
Living benefit and Transportation benefit not payable before 2nd anniversary of policy.

34. Underwriting
All questions must be answered No in order to submit the application
Questions 1 to 8 – No Medical Whole Life - Deferred and No Medical Whole Life - Immediate
Questions 9 to 17 – No Medical Whole Life - Immediate
No rating available

35. No Medical Term - Immediate Terms available :
Simplified issue – no medical exam, no blood tests
Coverage is immediate as soon as the policy is issued.
Non-participating term product
Guaranteed level premiums for the term selected
Available as an individual policy or as a rider

36. No Medical Term - Immediate
Minimum coverage : $50,000 (monthly premium of $20)
Maximum coverage : $250,000
Automatic renewal until the policy or rider anniversary nearest the insured’s 90th birthday.
Rates available for Smoker and Non-Smoker.
Issue age: 20 to 70 yrs old.
Annual fees: $80 policy, $60 rider.
Conversion to the No Medical Whole Life – Immediate.

37. No Medical Term - Deferred
The same features as InstaTerm except for the following:
The death benefit is deferred for the first two years.
Maximum coverage : $150,000
The sum of all InstaTerm, Golden Protection, Golden Protection Deferred, Golden Protection Plus and Total Protection policies for a single insured cannot exceed $250,000.
Non-renewable
Non-convertible

38. No Medical Term - Deferred Deferred protection
If the death is non-accidental and occurs before the 2nd anniversary of the policy, the death benefit is equal to the reimbursement of premiums with interest rate of 3%.
The death benefit is equal to the sum insured:
If the insured’s death occurs from the 2nd anniversary of the policy or rider;
or if the insured’s death is accidental and occurs within the first 2 years of the policy or rider.

39. No Medical Term - Sweet spots
No Medical Term - Immediate is convertible
No Medical Term is available as rider
No Medical Term has a build-in transportation benefit
No Medical Term has a build-in living benefit
More proficient and user-friendly electronic application system.

40. Underwriting
All questions must be answered No in order to submit the application
Questions 1 to 8 – No Medical Term - Deferred and No Medical Term - Immediate
Questions 9 to 17 – No Medical Term - Immediate
No rating available

41. Other benefits available
Accidental Fracture Plus, Child Insurance Rider, and/or Accidental Death.
Other benefits available
Child Insurance Rider
Accidental Fracture Plus
Accidental Death

42. Simplified life insurance solution for clients who want peace of mind and NO MEDICAL EXAM

43. Permanent life insurance guaranteed level premium
Life-pay and 20-year-pay (for issue ages 40-80)
No medical exam, no APS, no fluids or needles
Guaranteed cash values and excellent paid up value
Available for smokers and non-smokers
Available as a policy or rider (spouse)
Issued with limited proof of insurability

44. Insurance amount doubles in case of accidental death
In case of accidental death in a public transportation vehicle, beneficiaries receive 5 times the original insurance amount.
Issue ages: 40 to 85
Maximum Sum Insured:
40 to 70 years of age: $100,000
71 to 85 years of age: $50,000
Guaranteed cash value and guaranteed reduced paid-up option after 5 years.
Public Transportation Vehicle = boat, commercial aircraft, taxi, tramway, train, subway, bus, including the platform, steps
and stairs of such common carriers.
Minimum annual premium = $150

45. 50% of the sum insured in the event of a first-time occurrence of a
Living benefit
50% of the sum insured in the event of a first-time occurrence of a
terminal illness
Transportation benefit
$2,000 payable when death occurs at a site over 200 km away from
primary residence
Annual fee
policy $60.00
rider (spouse) $30.00
Insurance coverage is immediate
On-line application approved in hrs
FYC 45%
Living benefit and Transportation benefit not payable before 2nd anniversary of policy.

46. Deferred Option
If your client has been declined for insurance within the past 2 years, they may still qualify for Golden Protection at the same rates.
Two-year waiting period for the death benefit for non- accidental death.
Accidental death benefit is immediate.
Issue ages: 40-85
Life-pay and 20-year-pay (for issue ages 40-80)
Maximum amount: $50,000
FYC: 35%
Sames new features as GP….in the exception that the maximum amount for GPP remains at $50,000.

47. Corporate Overview Excellent rating, Am Best (15 years running)
Solvency ratio: 232% (2014)
Assets under Management: 1.5 billion
2006 to 2011 ($2,372,265) to ($9,597,521)

48. Getting Started With Assumption Life
1 - Obtain a broker code: Complete the “Broker Registration Form” and send to your MGA.
2 - You will receive an from Assumption Life indicating your username, password as well as your broker code.

49. LIA – Electronic sales tool
Multiplatform (PC, Mac, Android, iPad, Cloud Technology)
Save to any device
Your device directly to our underwriter
Online or offline
GO WITH EXPERIENCE -We’ve been doing electronic applications for over 11 years!
LIA – ELECTRONIC SALES TOOL – APPLICATION FROM YOUR DESK TO OUR UNDERWRITER ONLINE OFFLINE – SAVE TO THE CLOUD
LIA The first proven sales platform that works with any device, online as well as offline.

50. Signature Page Don’t forget to fax or email us the signature form!
We don’t require any delivery receipt.

51. lia.assumption.ca

61. Non Face-to-Face Sales
Referrals
Replacement
Up sell/ Cross sell
Business where you want, when you want, how you want!
NON FACE TO FACE – ANY WHERE ANY TIME
You can make a sale by phone or on your laptop – Your choice. Simply the complete the section that pertains to Sale by phone on the Notice and Signature Authorization form.

62. Delivery Receipt Remember no delivery receipt required!
We don’t require any delivery receipt.

63. Service - Second to none!
Quick to respond
Direct access to underwriters
Free marketing materials
Online training presentations
Video sales tool
We deliver what we promise!
Doing business with us is easy!

64. Commission 2X
We pay
2X week 2X 2X

65. Visit our www.producerscorner.ca
You can view the status of your new application, commission report, product guides, applications, forms and much more.

66. QUALIFICATION PERIOD
The qualification period covers a 12-month period, from January 1 to December 31, 2017 inclusively.
QUALIFICATION CRITERIA
You qualify for the 2018 Convention if:
You achieve a net total of 80,000 production credits and place a minimum of 25 production units. Production credits and units can be accumulated through a combination of life insurance policies, new investment contracts (clients) and/or group insurance plans.
Results are based on placed premium (not FYC) by December 31, 2017.

67. Doing Business With Us is Easy… and Smart!