CALU Practice note

CALU Practice Note: Leveraged Life Insurance and Banking Referrals

This Practice Note discusses, through a series of case studies, the federal Bank Act and provincial Insurance Act considerations relating to the referral of clients between banks (and other lending institutions) and insurance advisors. It also includes a discussion of the regulatory implications of “secondary loan” arrangements offered by certain lending institutions.(Members only) download now

August 28, 2024|Categories: CALU Practice note, Publications and reports|

CALU Practice Note – Best practices for professional networking arrangements

The CALU Market Practice Committee (MPC) recently considered a client referral arrangement between an accounting firm and insurance advisors which raised potential market practice and regulatory compliance issues. CALU has now developed a Practice Note which discusses a number of legal, regulatory and tax issues relating to client referral arrangements between insurance advisors and accounting firms, as well as setting out best practices for CALU members to follow when contemplating referral arrangements of this nature. (Members only) Download now

October 19, 2023|Categories: CALU Practice note, Publications and reports|

CALU Practice Note – Term Riders and short-pay permanent policies

This Practice Note discusses potential concerns with using term riders for the primary purpose of creating short-pay (less than five years) permanent policies. It also shares the steps CALU has taken to develop an industry consensus on how to deal with these concerns, and guidance in terms of illustrating term riders on permanent policies. (Members only) Download the report

June 19, 2023|Categories: CALU Practice note, Publications and reports|

CALU Practice Note – Best practices for insured leveraging programs – Part II

This Practice Note (Parts I and II) is designed to provide guidance to CALU members on how to identify appropriate clients for insured leveraging programs and ensure you have the necessary information to guide them and their other professional advisors in making an informed decision before implementation. Each client’s circumstances will of course influence the nature of the information that needs to be provided. Practice Note (Part I), published for CALU Members earlier this year, focused primarily on issues relating to marketing leveraged programs, client communications and disclosure, due diligence on lending arrangements and longer-term management issues. This Practice ...

May 30, 2023|Categories: CALU Practice note, Publications and reports|

CALU Practice Note – Best practices for insured leveraging programs – Part I (revised)

In November 2022, a Practice Note on insured leveraged programs (Part I) was released to members. Based on member feedback, this revision clarifies some of the discussion in the section entitled “What insurance products are suitable for leverage programs?”. Should you have any questions please contact Kevin Wark (kwark@calu.com).  (Members only) Download now

February 6, 2023|Categories: CALU Practice note, Publications and reports|

CALU Practice Note – Best practices for insured leveraging programs – Part I

This Practice Note (Part I) will primarily focus on issues relating to marketing leveraged programs, client communications and disclosure, due diligence on lending arrangements and longer-term management issues. A following Practice Note (Part II) will build on previously issued Practice Notes and focus on the key tax issues pertaining to leveraged insurance strategies. The overall objective of this Practice Note (Parts I and II) is to provide guidance to CALU members on how to identify appropriate clients for insured leveraging programs and ensure they have the necessary information/advice so they can make an informed decision before implementation. Each client’s ...

November 21, 2022|Categories: CALU Practice note, Publications and reports|

CALU Practice Note – Offshore Shared Ownership DI/CI Programs with ROP Benefits

This Practice Note will review the tax treatment of an offshore corporate individual DI/CI policy with an ROP rider owned by and with benefits payable to the shareholder and/or executive combined with a leveraging program; and the tax treatment of offshore corporate grouped DI/CI policies with ROP riders owned by and with benefits payable to executives and/or shareholders combined with a leveraging program.

February 1, 2020|Categories: CALU Practice note, Publications and reports|

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