MTHEL131 Lecture Notes - Lecture 2: The Great-West Life Assurance Company, Disability Insurance, Mutual Fund
12 Apr 2016
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Document Summary
Life and health insurance companies today: 1) ofers wide range of insurance products. Health insurance (dental, prescripion, drug, medical outside canada) Long term care: actuaries calculate pricing, great west life, sun life, and manulife are 3 biggest in canada. Investment products: rrsps, annuiies, segregated funds similar to mutual fund, mortgages, resp & tfsa, protects more than 30 million people. In canada, companies pay out . 1 billion every week. 90% is paid to the living in form of: disability payments, annuiies, reimbursements of chiropracic visit, etc. 10% paid out for death beneits: important role in meeing financing needs for governments, government needs money for. Medical care: revenue from government taxes isn"t enough to inance these things, government needs to borrow, government creates i. o. u slips aka: bond. Canadian government is one of best in world in terms of lowest risk of defauling. Us is considered beter in terms of repaying.
