May 1, 2018 07:00
Stéphane Beaumier, and Louis-Charles Leclerc
The insurers surveyed by the Journal of insurance emphasize that the new tax rules have not affected the sales of insurance of the middle class. These are the wealthy customers who have seen the changes.
Stéphane Beaumier, regional vice-president, network career, at Sun Life Financial, stresses that the sales are sustained through to customers who purchase a product standing to cover need of insurance, he believes. “We will not see a decrease in volume is very marked in our network career, because it is not just the wealthy clientele. It is clear that for the insurance claims of large size, for example, for an annual premium of $ 30,000, we see a drop “, he adds.
Mr. Beaumier said that his company will continue to sell the new permanent product, but focus more on the needs of insurance customers. “If we go back to the base, our sales of permanent insurance will continue to be supported as they were prior to 2016. “
According to Louis-Charles Leclerc, director, insurance products ofiA financial Group, the impact of the new tax rules don’t change so many things for all customers in Canada.
It all depends on the market in which the implementation of the advisor. “A big part of the market is comprised of customers that do not invest additional cash in their universal life. They pay the minimum premium, ” says Mr. Leclerc.
He said, however, have witnessed a big boom in sales of whole life insurance with participation. According to him, this product is often a high-end market. In some cases, Mr. Leclerc believes that the sales took place at the initiative of clients, insurance policy holders with a lot of accumulated value, which wanted to keep the old rules.