Posts Tagged “Universal Life”
There is a lot of noise surrounding the introduction of Bill 141 in Quebec which officially introduces regulations pertaining to insurance sales directly to the public without the involvement of a licensed representative. Considering all of the opposition this is generating among licensed representatives on the basis that this would put the consumer at risk…
A potential court ruling allowing payments to increase on Variable Rate Mortgage as interest rates rise could lead to huge costs and even bankruptcy to consumers who have selected this type of mortgage. In an era of low interest rates, consumers were induced into buying homes they sometimes could not afford by being offered…
I am dedicating this text to Jim Ruta and friends who believe that the insurance industry does not need more and better regulations… LEARN ABOUT THE UNIVERSAL LIFE SCAM: http://www.amazon.ca/Unraveling-Universal-Life-Richard-Proteau/dp/1503246167 Four advisors who broke the same law; four advisors who received totally different sanctions for the same infractions. The differences in the…
When an insurance audit is done as part of a mandate given by a policy owner, we find that in 99% of the cases that the policy has been mismanaged. In this particular case, such mismanagement cost the client more than $90,000. Why is this? The reason is simple and it is because financial…
PART 2: VALUE BASED ANALYSIS – LOST IN TRANSLATION By Richard Proteau: http://www.amazon.ca/Unraveling-Universal-Life-Richard-Proteau/dp/1503246167 Advice is in the end all about value. Without value there is no need for advisors. Discover the true value of life insurance by using the only application that can do a pre-estimate of the Fair Market Value of…
PART 1) COST BASE ANALYSIS “The greatest lie made by the insurance industry is to represent that $1 in illustrated value, the result of a constant rate of return, can be translated and is the equivalent of $1 of real and actual cash value, the result of a rate of return that changes…
Mr. Louis Stephane Rousseau Manulife Re: My Innovision Policy 895xxxx Dear Mr. Rousseau: On May 2006, Manulife issued a life insurance policy called Innovision on my life, policy number 895XXXX on my life (Richard Proteau) where my obligations and rights are listed under the policy contract number 895XXXX. Under the…
Learn more about the Universal Life Scam: http://www.amazon.ca/Unraveling-Universal-Life-Richard-Proteau/dp/1503246167 In 1966, the Carter Report made a series of recommendations in overhauling the Income Tax Act including changes to the taxation of life insurance. The main recommendation pertaining life insurance policies was: “3) In general, investment income accumulated for the benefit of the policy holder…
The following text is the first part of an example of a legal action (whether it is an individual action or a class action) in regards to the sale of an insurance product called Universal Life. The goal is to increase the chances that such actions succeed against an insurer by giving access to…
The prevalent belief is that a life insurance illustration is not a legal document. Life illustration is therefore perceived to be an advertisement to show the performance of a life policy. Learn about the Universal Life Scam by buying this book at http://www.amazon.ca/Unraveling-Universal-Life-Richard-Proteau/dp/1503246167 . Determine the true value of life insurance…
