The Secondary Market For Life Insurance In Canada: Daniel Kahan | Tea At Taxevity #68

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http://www.taxevity.com/tea | If you no longer want your life insurance policy, what can you do with it? Explore the secondary market in Canada with guest Daniel Kahan on Tea At Taxevity #68.

Interview content:

1:05 What is a viatical settlement?

1:30 The evolution to life settlements

2:35 STOLI: Stranger-Owned Life Insurance

4:35 FSCO (Ontario regulator) – Sept 2014 announcement

4:55 Legality in Ontario

5:10 Where are life settlements legal in Canada? Quebec, Nova Scotia, New Brunswick, Saskatchewan

5:23 Saskatchewan proposed Bill 177 page 155

7:01 Jan 1997: Was Ontario considering making life settlements legal?

8:48 Jul 2001: FSCO issued draft viatical settlement regulations

10:32 Deep freeze

11:01 What the Ontario government could do

11:16 Four legal ways to get cash from your insurance policy in Ontario

11:52 [1] Transfer ownership to your corporation at the actuarial fair market value (FMV)

13:30 [2] Donation to a charity at the actuarial FMV

14:53 Surrender your policy

15:23 [3] Calculation of the actuarial FMV

16:13 [4] Borrowing against your policy: policy loan or collateral loan from a bank

17:15 What does Canadian Lifeline does since Jan 1995

17:40 Noncontractual insurance company practices: advance of death benefit or a loan

18:51 Overcoming the $100,000 cap

21:54 Proposed changes in the rules to help Canadians

Our guest is Daniel Kahan. You’ll find more details by visiting

– LinkedIn: http://ca.linkedin.com/in/danielkahan

– website: http://life-funding.com and http://LifeValuation.com

– Twitter: http://twitter.com/calldk

Tea At Taxevity brings you insights from insiders who make life better. The diverse interviews are recorded live in West Toronto and feature LinkedIn connections of your Taxevity team. Your host is actuary Promod Sharma (http://www.linkedin.com/in/promod).

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The Secondary Market For Life Insurance In Canada: Daniel Kahan | Tea At Taxevity #68