CLHIA - Canadian Life and Health Insurance Association
- clhia.ca/
- clhia.ca/advisor
- 2016 10 - CLHIA - Insurance Distribution in Canada: Promoting a Customer-Focused System - [Bonk: Is this also referred to as "The Approach"?] --- [BonkNote] --- 14p
- 2016 11 - CLHIA - Reference Document: The Approach: Serving the Client Through Needs-Based Sales Practices - 15p
- 2016 10 - CLHIA - IVIC Suitability Needs-Based Sales Practices - 10p
- CLHIA Guidelines - [link]
- CLHIA - Guideline G6 - Illustrations - 10p
- (p1) - “Primary scenario” means a scenario for values or features of a policy that is based on assumptions about factors affecting the values or features that the insurer judges as reasonable.
- This includes but is not limited to interest rates.
- (p4) - The interest rate(s) in the primary scenario should generally reflect reasonable assumptions as to the long-term performance of the market to which the interest rate is linked.
- (p5) - One of these scenarios, the primary scenario, should be drawn from an identified range of scenarios that the insurer judges as reasonable.
- (p5) - The general basis and the key assumptions for each scenario should be outlined in the illustration.
- The process of identifying a range of scenarios should be done at least annually. If the new identified range differs from the previous one, the new basis should be implemented within a reasonable period of time, i.e., 90 days