The Manulife Exchange: Recent Episodes
Manulife, The Manulife Exchange
Welcome to The Manulife Exchange - An exclusive podcast created for you, our advisors, to take stock of the latest insights, news and solutions that are driving our industry forward. We’re on a mission to make decisions easier, and lives better. And we believe in the power of advice. So get ready to examine, redefine and simplify insurance.
Get ready to rethink insurance.
Immigrer dans un autre pays est un événement déterminant. Bien que l’immigration représente souvent une occasion pour les nouveaux arrivants de se bâtir une vie meilleure, elle n’est pas exempte d’enjeux et de priorités. Comment l’assurance comportementale entre-t-elle en jeu? Écoutez Stephanie Hamel, chef, Ventes internes, Produits d’assurance vie et de prestations du vivant, discuter avec Joseph Franjié, spécialiste, Ventes de produits d’assurance vie et de prestations du vivant à Manuvie, de l’impact du programme Manuvie Vitalité sur lui, en tant que nouvel arrivant, et de la façon dont ce programme a facilité son intégration au Canada.
Rendez-vous sur le site Manuvie.ca/lechangedemanuvie pour en savoir plus.
Most clients think to have insurance coverage in place to protect their family if they die. But not everyone plans for a critical illness event because they think it won’t happen to them. Join Vanessa Scott, National Living Benefits Consultant, Manulife, and Nic Pascoe, Head of Distribution, Central West and Atlantic Canada, Individual Insurance, Manulife as they discuss the importance of critical illness coverage for “what if you live?”.
Visit Manulife.ca/TheManulifeExchange to learn more.
Discover the strength of Manulife’s living benefits products:
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To learn more about the number and type of claims Manulife paid out last year, check out the Manulife Claims page:
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With increased funding and audit powers, the Canadian Revenue Agency (CRA) is an increasingly formidable force. Recent changes to the Income Tax Act have taxpayers and their advisors facing the burden of disclosing aggressive tax planning to the CRA. In this eye-opening episode, Desiree D’Souza, Assistant Vice President, Tax and Estate Planning and Florence Marino, former Head of Tax and Estate Planning at Manulife dive into the evolving landscape of tax planning and discuss their implications on taxpayers’ financial affairs.
Visit Manulife.ca/TheManulifeExchange to learn more.
Check out the tax dimensions article from Manulife’s Tax, Retirement and Estate Planning Team:
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When it comes to recommending a participating insurance solution to your clients, fund strength and stability are important considerations. With a balanced asset mix, smoothed fund yield, and now with the benefits of Manulife Vitality, Manulife Par offers greater value to your clients. In this episode, Mathieu Charest, Head of Product and Pricing - Individual Insurance, joins Catherine Larouche, Head of Life Insurance Products and Critical Illness, at Manulife to discuss the 2023-2024 Dividend Interest Rate (DIR) and how Manulife’s Canadian participating account is managed to offer stability and deliver results for the long-term benefit of our policyowners.
Visit Manulife.ca/TheManulifeExchange to learn more.
Discover the strength of Manulife Par
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Coming soon: Illustrate Manulife Par with the new DIR before it takes effect on September 1, 2023. Check back late June for more information.
The Vitality Group Inc., in association with The Manufacturers Life Insurance Company, provides the Manulife Vitality program. The Manulife Vitality program is available with select policies. Vitality is a trademark of Vitality Group International Inc., and is used by The Manufacturers Life Insurance Company and its affiliates under license.
Manulife Par and Manulife Par with Vitality PlusTM are issued and sold by the Manufacturers Life Insurance Company (Manulife).
Naming a successor owner on a life insurance application or while a life insurance policy is inforce can mean avoiding time-consuming and costly administrative steps later on. In this episode, Dianna Flannery, Senior Tax, Retirement and Estate Planning Consultant and Nawel Izard, Tax, Retirement and Estate Planning Consultant at Manulife chat about the legal and tax benefits to naming a successor owner and why failure to do so may be costly.
Visit Manulife.ca/TheManulifeExchange to learn more.
Manulife’s guide to naming a successor owner:
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Manulife’s tax topics and videos on transferring a life insurance policy:
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Often our focus for insurance planning is directed at the founders of family enterprises – generation 1, but as more and more businesses transition from the founders to the next generation, it is important to plan for them too. In this episode, Diane Hamel, Assistant Vice President, Tax and Estate Planning and Tony Lee, Assistant Vice President, Tax and Estate Planning at Manulife explore different business succession planning and life insurance opportunities that can be used for generation 2.
Visit Manulife.ca/TheManulifeExchange to learn more.
Find more business succession planning resources from Manulife’s Tax, Retirement and Estate Planning Team:
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Immigrating to a new country is a significant milestone. While it is often an opportunity for newcomers to build a better life it also comes with its own challenges and priorities. How does behavioural insurance come into the picture, you may ask? Listen to Stephanie Hamel, Head of Inside Sales for Life & Living Benefits discuss with Joseph Franjié, Life and Living Benefits Insurance Sales Specialist at Manulife the impact that the Manulife Vitality program had on him - as a newcomer - and how it helped with his integration in the country.
Visit Manulife.ca/TheManulifeExchange to learn more.
Find more resources on Manulife Vitality:
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Finance Minister Chrystia Freeland tabled the 2023 Federal Budget on March 28th. With no tax rate increases or changes to the capital gains inclusion rate, what should you be focused on? Join Hemal Balsara, Assistant Vice President, Tax and Estate Planning and Curtis Davis, Director of Tax, Retirement and Estate Planning at Manulife share their insights and explain what insurance and investment advisors can expect from a tax perspective in 2023.
Visit Manulife.ca/TheManulifeExchange to learn more.
Find more Federal Budget resources from Manulife’s Tax, Retirement and Estate Planning Team:
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Imagine offering your clients the protection they need, helping them live longer, healthier lives, AND giving them the opportunity to increase their death benefit just by making healthy life choices. You can do all that, and more with Manulife UL with Vitality PlusTM. Catherine Larouche, Head of Life Insurance products, and Michael Dawson, Director, Vitality Sales and Distribution at Manulife discuss how Vitality is a true differentiator for you and your universal life (UL) clients. Now is the time to share Vitality with your UL clients. Are you ready to go all in?
Visit Manulife.ca/TheManulifeExchange to learn more.
Check out the Manulife Vitality Rewards and Status Simulator®
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Monthly Customer Engagement Data Source: Manulife Vitality dashboard report, The Vitality Group, 2022.
Discover the benefits of Manulife Vitality Go and Manulife Vitality Plus
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Manulife with Vitality Go and Manulife UL with Vitality Plus are sold by Manulife (The Manufacturers Life Insurance Company). Vitality Group Inc., in association with The Manufacturers Life Insurance Company, provides the Manulife Vitality program. The Manulife Vitality program is available with select policies. Vitality is a trademark of Vitality Group International Inc., and is used by The Manufacturers Life Insurance Company and its affiliates under license.
There are many creative ways to utilize the retained earnings of a privately held corporation. In this episode, Desiree D’Souza, Assistant Vice President, Tax and Estate Planning and Tony Lee, Assistant Vice President, Tax and Estate Planning at Manulife compare common surplus stripping strategies with corporate estate bonds and explain how using corporate-owned life insurance can increase value for your clients.
Visit Manulife.ca/TheManulifeExchange to learn more.
Find more corporate owned life insurance resources from Manulife’s Tax, Retirement and Estate Planning Team:
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Your clients work hard to save for retirement of their dreams. But what happens when an unexpected illness strikes? A crash test that takes just 3 minutes, and no new premiums could dramatically change when your client retires or even what retirement looks like for them. It’s a conversation you can’t delay.
In this episode, Laura Yost National Director of Accounts sits down with Vanessa Scott, National Living Benefits Sales Consultant to discuss tools available at Manulife to help you have this important conversation with your clients today.
Visit Manulife.ca/TheManulifeExchange to learn more.
Notes:
Help your clients evaluate their risk of developing a critical illness and calculate the right amount of insurance for their needs using Manulife’s InsureRight
Manulife InsureRight
Manulife’s Retirement Protection planning tool is designed to show your clients how critical illness insurance may be used to help protect their future retirement income.
Retirement protection – a client profile (manulife.ca)
Retirement Protection client flyer – Lifecheque (manulife.ca)
Learn more about Manulife’s Disability products.
Disability insurance | Manulife
The sale of a business is a significant life event and can lead to many life insurance opportunities. In this episode, Hemal Balsara, Assistant Vice President, Tax and Estate Planning and Desiree D’Souza, Assistant Vice President, Tax and Estate Planning at Manulife chat about the different approaches to exiting a business and explain why life insurance can be a great tool for optimizing post-sale proceeds.
Visit Manulife.ca/TheManulifeExchange to learn more.
Manulife’s business succession planning tax topic article:
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Find more business succession planning resources from Manulife’s Tax, Retirement and Estate Planning Team:
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The end of a relationship and breakdown of a marriage are inherently difficult and almost always unpredictable. Life insurance forms part of the assets that must be considered when a relationship ends. In this episode, Dianna Flannery, Senior Tax, Retirement and Estate Planning Consultant and Nawel Izard, Tax, Retirement and Estate Planning Consultant at Manulife explore the many legal and tax implications to be mindful of when using corporate owned life insurance and joint last-to-die policies in a marriage breakdown.
Visit Manulife.ca/TheManulifeExchange to learn more.
- Manulife’s Checklist of Family Law Obligations and Life Insurance:
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FRENCH - Find more corporate owned life insurance resources from Manulife’s Tax, Retirement and Estate Planning Team:
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The role of the insurance advisor is changing. Today’s role demands a more comprehensive approach, one where the focus is on building relationships. After all, clients may be able to find product information and even get a quote online, but they still need you to help them find the solution that best meets their needs.
That’s where Manulife Vitality comes in. Manulife Vitality gives you the edge you need to drive your business forward in today’s competitive environment.
Nicholas Pascoe, Manulife Head of Distribution, Individual Insurance for the Central West and Atlantic region sits down with Percy MacDonald, Insurance and Financial advisor in Halifax, NS, to discuss how Manulife Vitality helped him stand out from the competition, change the conversation with his clients and grow his business.
Have you been looking for an insurance product that would help you stay engaged with your clients all-year round with multiple opportunities to connect with them? Well, look no further.
Manulife Vitality is founded on engagement. You’ll have multiple opportunities to reach out to your clients and see how they’re doing, forging a stronger relationship with each interaction. Providing a more personal and meaningful experience may change the way clients think about their insurance and about you, leading to fewer lapses and more referrals.
Tammy Hynes, Manulife Head of Distribution, Individual Insurance for the Western region sits down with Delta Sciur, Insurance and Financial advisor in Leduc, AB, to discuss how Manulife Vitality has helped her stay engaged and grow her relationship with her clients through social media and several other ways.
If we told you that there’s an easier way for you to talk about insurance and to be constantly engaged with your clients even after the sale, would you be interested in learning more?
Manulife Vitality is a program that allows your clients to live healthy, earn rewards and save on premiums. When you offer insurance with Manulife Vitality, you are offering more than just protection. You are helping clients live their lives to the fullest and healthiest.
Tammy Hynes, Manulife Head of Distribution, Individual Insurance for the Western region sits down with Adam Beach, Insurance and Financial advisor in Calgary, AB, to discuss how Manulife Vitality has helped him stay engaged with his clients and grow his business, all while helping his clients live a healthier life.
AIDA is Manulife’s Artificial Intelligence Design Algorithm. She’s fast, consistent and reliable. And she’s closing the protection gap for Canadians. Laura Yost, National Director of Retail Accounts sits down with Karen Cutler, Manulife’s Head of Underwriting and Claims, to discuss how artificial intelligence and Manulife’s culture of curiosity are re-shaping the insurance industry and helping more Canadians get the protection they need.
Visit Manulife.ca/TheManulifeExchange to learn more
NOTES:
Daniel Kahneman’s Thinking Fast and Slow
Two systems drive the way we think and make choices, Daniel Kahneman explains: System One is fast, intuitive, and emotional; System Two is slower, more deliberative, and more logical. Examining how both systems function within the mind, Kahneman exposes the extraordinary capabilities as well as the biases of fast thinking and the pervasive influence of intuitive impressions on our thoughts and our choices. Engaging the reader in a lively conversation about how we think, he shows where we can trust our intuitions and how we can tap into the benefits of slow thinking, contrasting the two-system view of the mind with the standard model of the rational economic agent.
Kahneman's singularly influential work has transformed cognitive psychology and launched the new fields of behavioral economics and happiness studies. In this path-breaking book, Kahneman shows how the mind works, and offers practical and enlightening insights into how choices are made in both our business and personal lives--and how we can guard against the mental glitches that often get us into trouble.
Daniel Kahneman’s article in Harvard Business Review
Noise: How to Overcome the High, Hidden Cost of Inconsistent Decision Making
In Noise, Daniel Kahneman, Olivier Sibony, and Cass R. Sunstein show the detrimental effects of noise in many fields, including medicine, law, economic forecasting, forensic science, bail, child protection, strategy, performance reviews, and personnel selection. Wherever there is judgment, there is noise. Yet, most of the time, individuals and organizations alike are unaware of it. They neglect noise. With a few simple remedies, people can reduce both noise and bias, and so make far better decisions.
Packed with original ideas, and offering the same kinds of research-based insights that made Thinking, Fast and Slow and Nudge groundbreaking New York Times bestsellers, Noise explains how and why humans are so susceptible to noise in judgment—and what we can do about it.
Daniel Kahneman: Four Keys to Better Decision Making | CFA Institute Enterprising Investor
Even in testable domains where causal relationships are readily discernible, noise can distort the results. Kahneman described a study of underwriters at a well-run insurance company. While not an exact science, underwriting is a domain with learnable rules where expertise can be developed. The underwriters all read the same file and determined a premium. That there would be divergence in the premium set by each was understood. The question was how large a divergence. “What percentage would you expect?” Kahneman asked. “The number that comes to mind most often is 10%. It’s fairly high and a conservative judgment.” Yet when the average was computed, there was 56% divergence. “Which really means that those underwriters are wasting their time,” he said. “How can it be that people have that amount of noise in judgment and not be aware of it?”
