MTHEL131 Lecture Notes - Lecture 1: Canada Life Financial, Confederation Life, Life Annuity
26 Nov 2018
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Confederation life (toronto), sunlife (montreal), london life (london), manulife. A large amount of money paid when death happens. Never has a canadian company failed its promise when it comes to paying death benefits. First life insurance company in canada --- canada life financial. A new, revised petition went through the british parliament and was approved. The first life insurance company was formed - the old equitable. Premiums would vary according to "age of entry" Reputation (ability to keep promise => will pay) (put into contract => agree to pay unless plague; pay 100 pounds for now and pay everything else over time --- reductions could be made temporarily under special circumstances) Petition being put before the british parliament to form the first life insurance company. Great risks for the family (extreme poverty) if a father dies (the father has the sole income) The industry addresses three top financial concerns of canadians:
