1. Life Insurance in the “New” Market

2. OVERVIEW  Immigration in Canada Statistics Challenges Tapping into the “New Market” Who can apply?  Underwriting Guidelines Visa Workers Student Visa Open Visa Convention Refugees Nannies or Caregivers Physicians Investors, Entrepreneurs and Self Employed Translation verification  Eligible Products Golden Protection/Plus/Deferred FlexOptions/FlexTerm ParPlus  Questions

3. Canada is a cultural mosaic that respects and celebrates the uniqueness of countries around the world. The population growth since 2006 is 2 million; 2/3 were immigrants Canada welcomes about 250,000 immigrants each year In 2012, Canada issued 1 million visitor visas; 40% increase since 2004 By 2031, immigration will account for more than 80% of Canada’s overall population growth Canada The Homeland of New Canadians

4. Immigrants by Province 3,520,268 Ontario 92,350 Atlantic Provinces Total Immigrants in Canada 6,452,305 554,130 Alberta 900,475 Québec 1,173,532 British Columbia 158,780 Manitoba 52,770 SK

8. Why do you think the government of Canada is interested in attracting new immigrants?

9. Increase population Ageing population; low birth rate Sustain economic growth By 2021, Canada will have only 2 working Canadians for each retiree; currently a 6:1 ratio. Attract new skills/trades Workers shortfalls in a vast range of occupations from doctors to brick layers. Recruiting dynamic entrepreneurs will help Canada remain competitive in the global economy

10. What does it mean? A New Market for you!

11.  Aren’t fluent in one of the official languages  Don’t have immigration documents  Don’t have a S.I.N.  Limited knowledge about insurance  Awareness and understanding of culture  Obtaining of APS  Underwriting hurdles What are the challenges?

12. How do you tap into this new market?

13. Gain greater understanding of the cultural market Support community events Create awareness of life insurance and what it does Explore appropriate insurance options Advertise - ethnic papers, flyers, bulletin boards Ask for referrals Utilize marketing tools available from Assumption Life Tapping into the “New” Market

14. MARKETING MATERIAL

16. Work visa, Open visa, Student visa Convention Refugees Caregivers or Nannies Physicians Investors, Entrepreneurs and Self-employed Landed immigrants Who can apply?

17. Underwriting Guidelines

18. Visa/Work Permit  Maximum of $500,000 on all our products (riders excluded)  Must hold a visa permit for a minimum of 1 year; however, it must not expire within the next 3 months (otherwise, requires proof of renewal request)  A copy of valid visa is required for all products  < 6 months to 1 year, in Canada: paramedical, blood profile including hepatitis B & C screening  > 1 year in Canada regular underwriting requirements  Confirmation that the person intends to stay in Canada  All nationalities; however, risk of return to country of origin will be considered

19.  Maximum of $250,000 on all products when a student is enrolled in a program with a duration of 6 months to 2 years (riders excluded)  Student must be registered full-time in a college or university  Valid student visa  < 1 year in Canada: paramedical, blood profile including hepatitis B & C screening  > 1 year in Canada: regular underwriting requirements  All nationalities; however, risk of return to country of origin will be considered  If visa expires within 3 months, student may not be eligible Student Visa

20. Open Visa  Maximum of $500,000 on all products (riders excluded)  All nationalities considered

21.  Applicant must have resided in Canada for 6 months or more  Application has been made for permanent status (we require a copy of the application)  Applicant must be employed with fixed address  Copy of government status letter  Any rating may not exceed 200%  Country of origin and return risk is considered  Maximum of $250,000 on all products (riders excluded)  < 6 months to 1 year, in Canada: paramedical, blood profile including hepatitis B & C screening  > 1 year in Canada regular underwriting requirements Convention Refugees

22. Caregivers or Nannies  Maximum of $250,000 on all products (riders excluded)  < 1 year in Canada: Para, BP incl. hepatitis B & C screening  > 1 year in Canada regular underwriting requirements From Philippines Other than Philippines  Maximum of $250,000 on all products (riders excluded)  < 1 year in Canada: Para, BP incl. hepatitis B & C screening  > 1 year in Canada: regular underwriting requirements  Copy of the work permit confirming the applicant is part of the live-in care program  Country of origin and return risk is considered

23.  Resided in Canada for a minimum of 3 months  Canadian authorization to practice medicine  Copy of the employment contract  Any rating may not exceed 200%  Country of origin and return risk is considered  Maximum amount of life insurance of $1 million on all products (riders excluded)  Para, BP incl. hepatitis B & C screening will be requested Physicians

24.  Resided in Canada for a minimum of 3 months  Is an investor, entrepreneurs and self-employed and is in Canada under a special program  Annual income minimum of $50,000  Copy of the government authorization letter confirmation that the person can be in Canada under a special program is required  Any rating may not exceed 200%  Country of origin and return risk is considered  Maximum amount of life insurance of $1 million on all products (riders excluded)  Para, BP incl. hepatitis B & C screening will be requested Investors, Entrepreneurs and Self-employed

25. Translation verification  Brokers who speak client’s language may translate  For all products for amounts up to $250,000  Amounts over $250,000 require a paramedical completed by a nurse who can translate in their language  If the broker does not want to be responsible for the translation for all products under $250,000, broker must hire a certified translator at broker’s expense

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

27. Permanent life insurance guaranteed level premium 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 multi-life discount Simplified medical questionnaire

28. Insurance amount doubles in case of accidental death In case of accidental death in a public transportation vehicle, beneficiaries receive 5 x the original insurance amount. 85 Issue ages: 40 to 85 $50,000/$80,000 Policy Face Amount: $1,000 to $50,000/$80,000 (GP Plus) Guaranteed cash value and guaranteed reduced paid-up option after 3 years.

29. 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 – rider (spouse)$30 Insurance coverage is immediate Online application approved in 24-48 hrs FYC 45%

30. 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 FYC 35% DEFERRED

31. ProtectionDecreasingLevel Minimum$50,000 Maximum$4,000,000 PremiumsGuaranteed level Simplified IssueUp to $250,000 Rate Banding $50,000 to $250,000 Over $250,000 $50,000 to $199,999 $200,000 to $250,000 $250,001 to $4,000,000 Term Life Insurance

32. ConversionYes, after 1 st anniversary RenewableNoYes Joint policyYes, joint first-to-dieNo Commission35% FYC45% FYC Term Life Insurance

33. Issue age: 18-75 Online product - no paper apps Guaranteed level premiums Permanent, life-pay or 20-pay whole life insurance Coverage type: single or Joint-first-to-die Coverage amount: minimum of $5,000 Policy fee: $80

34. Dividend options: Enhanced 15 or 100 Paid-Up Addition Accumulation Cash / Reduced premium

35. Issue age: 0-17 Online product - no paper apps Guaranteed level premiums Permanent, 20-pay life insurance Coverage type: single Coverage amount: minimum of $5,000 Policy fee: $80

36. Dividend options: Enhanced 15 or 100 Paid-Up Additions Accumulation Cash / Reduced premium

37. Opportunity is there Easy to understand Quick to issue Quick to pay Generate more business in less time with Assumption Life

38. Census 2006, 2011 www.cic.gc.ca The Globe and Mail Article – Why Canada needs a flood of immigrants (04/05/2012) MarketWire Article – Canada Issues Record Number of Visitors Visas in 2013 (20/02/2012) Sources