Industry News

Sun Life defends GMWB changes

Recent changes to fees and asset allocation requirements for the SunWise Elite guaranteed minimum withdrawal benefit (GMWB) product have sparked advisor anger, as the changes apply to in-force contracts as well as any new policies. But the carrier says these moves were necessary to ensure the long-term health of the program, and that the blowback […]

By Steven Lamb |June 4, 2009

5 min read

Briefly:

Previous Brieflies this week: | MON | TUE | WED | THU | Hard to believe it was only two years ago, but 2007 was a good year for Canadians, income and tax-wise. The median after-tax income, adjusted for inflation for families with two or more people, rose 3.7% from 2006 to $61,800 in 2007, […]

By Staff |June 3, 2009

3 min read

A new $20 rule for retirement savings

Russell Investments has a new way of teaching Canadian couples how to determine how much to save for retirement. The company calls it the “retirement rule of $20.” The rule is meant to help retirees combat market volatility and longevity risk. Put simply, the rule says that for every $1 of income require at retirement, […]

By Rayann Huang |June 3, 2009

2 min read

CLHIA makes case for healthcare overhaul

The country’s preeminent life and health insurance association says Canada’s public healthcare system is in trouble and should work closely with private industry to solve impending problems. Insurers make money on the gaps in public coverage, so it’s probably not surprising the Canadian Life and Health Insurance Association (CLHIA) — its member companies account for […]

By Mark Noble |June 3, 2009

4 min read