Canadian Life and Health Insurance Association Inc.

Material for Advisors and MGAs




CLHIA Standardized Advisor Practice Review for Use in the MGA Channel
August 2017
[PDF] [Word
[More info] The Standardized Advisor Practice Review for Use in the MGA Channel (APR) is a standardized survey template that complements the CLHIA reference document Insurer Systems for Monitoring Statutory Compliance of Advisors. The APR is intended to assist in the ongoing assessment of advisor compliance in the MGA channel.



CLHIA Standardized Advisor Practice Review for Use in the MGA Channel
August 2017
[PDF] [Word
[More info] The Standardized Advisor Practice Review for Use in the MGA Channel (APR) is a standardized survey template that complements the CLHIA reference document Insurer Systems for Monitoring Statutory Compliance of Advisors. The APR is intended to assist in the ongoing assessment of advisor compliance in the MGA channel.


Advisor Disclosure
December 2016
[PDF
[More info] When a consumer is considering the purchase of a life or health insurance product, it is important that they have good information about the product, how it meets their needs, the company offering the product, and the advisor and the advisor’s business relationships. This document focuses on disclosure about the advisor which should be given in writing to the client prior to the sales transaction.


Advisor Disclosure Best Practices - Training Module
June 2017
[PDF] [PowerPoint
[More info] This training module focuses on disclosure about the advisor which should be given in writing to the client prior to the sales transaction.


Serving the Client Through Needs-Based Sales Practices
November 2016 (Originally published October 2007)
[PDF
[More info] Attached is a description of industry practices that address the principle that advice be appropriate to the needs of the client. Called The Approach, it was developed jointly by the associations in consultation with their members.


Serving Clients Through Needs-Based Sales Practices - Training Module
June 2017
[PDF] [PowerPoint
[More info] This training module focuses on the needs-bases sales practices described in the CLHIA reference document, "The Approach".


Advisor Disclosure (Group Benefits and Group Retirement)
September 2005
[PDF
[More info] When a plan sponsor is considering the purchase of a group life and health insurance or group retirement plan, it is important that they have good information about the product, how it meets their needs, the company offering the product, and the advisor and the advisor’s business relationships. This chart focuses on disclosure about the advisor which should be given in writing to the plan sponsor prior to the sales transaction.


IVIC Suitability
Needs-Based Sales Practices
October 2016
[PDF
[More info]The document describes industry practices intended to clarify the relation of the features of an Individual Variable Insurance Contract (IVIC) to the needs of a client.


Point of Sale Disclosure
April 2010
Implementation of New Requirements for Segregated Funds
[PDF
[More info] This document briefly summarizes key changes in distribution practices for segregated funds resulting from implementation of new point of sale disclosure requirements.

Advisor Screening Confirmation Request
August 2014
[PDF] [Word
[More info] The Screening Confirmation Request (SCR) may be used at the discretion of the MGA as part of its screening process prior to entering into a contract with an advisor.


Advisor Screening Questionnaire
For use by Managing General Agencies Screening Advisors for Suitability
December 2015
[PDF] [Word
[More info] The Advisor Screening Questionnaire (ASQ) should be used by Managing General Agents (MGA) as part of the screening process an MGA uses to assess the advisor's suitability and decide whether or not to enter into a contract with that advisor.


MGA Compliance: A Risk-based Approach for Compliance Programs in the MGA Channel
August 2014
[PDF] 
[More info] This Reference Document is intended to serve as a guide for MGAs who are developing compliance policies, procedures and practices. It is organized to correspond to the various sections in the Standardized MGA Compliance Review Survey (CRS).


Replacement Disclosure
A Guide to Preparing the Written Explanation
Required for the Life Insurance Replacement Declaration
August 2014
[PDF
[More info] This document is intended to assist agents in deciding what information to include in the written explanation of advantages and disadvantages of a proposed replacement.


Standardized MGA Compliance Review Survey
August 2014
[PDF] [Word
[More info] The CLHIA Standardized MGA Compliance Review Survey provides a means for insurers to assess the controls that exist within the entities to which they have delegated screening and other compliance tasks. It is a Reference Document related to Guideline G8.

CRTC Unsolicited Telecommunications Rules
Life and Health Insurance Industry Practices
July 2008
[PDF
[More info]This document is adapted from a Reference Document on the CRTC Unsolicited Telecommunications Rules Rules) that was prepared for life and health insurance companies by the Canadian Life and Health Insurance Association.

The primary intent of this document is to provide Advisors with general advice to assist them in determining which, if any, of the Rules apply to them. It is not intended to provide legal advice.



CRA
CRA's Enhanced Financial Account Information Reporting (for both FATCA and CRS)
June 2017
[More info]This has been prepared to help clients and advisors of Canadian financial institutions understand Enhanced Financial Account Information Reporting. It should not be construed as tax, legal or financial advice.


Important Notice to All Insurance Agencies: Corporate Errors and Omissions Insurance
March 2008
[PDF
[More info] Many insurance agencies and MGAs may not be aware of the full extent of risk they face if they do not purchase separate E&O cover under a Corporate E&O plan (also known as entity E&O).

The attached Q&A is intended to highlight some of the important issues related to Corporate E&O insurance. Please take a few minutes to read it over.

You should discuss your agency’s E&O coverage with your Association or your own insurance broker to ensure you understand all the risks and have the appropriate coverage in place.