On the 6th of February the Supreme Court of Canada has stuck down a ban on doctor-assisted deaths for terminally ill patients suffering from physical or psychological pain.
Chantal Marr from LSM Insurance writes "According to the Supreme Court, the prohibition on doctor-assisted deaths was found to infringe on Section 7 (the right to life, liberty, and security of the person) of the Canadian Charter of Rights and Freedoms. Under this new ruling, the aforementioned patients can legally seek to end their own lives via a doctor-assisted death. Doctors performing this procedure also won’t face any possible discipline or penalties. Previously, doctors found to be assisting patients commit suicide faced up to 14 years in prison."
The Supreme Court's new decision has people wondering about if a doctor-assisted death will be treated as a regular suicide by a life insurance company during the claims process. The Canadian Life and Health Insurance Association states it won't be clear until there is actual legislation in accordance with the Supreme Court's new ruling.
Having said that, most people seeking a doctor-assisted death tend to be elderly and often in pain due to terminal illnesses. Many of these cases will either no longer retain their life cover, or may have been paid out under terminal illness early payment provisions.
Australian website Risk Adviser discusses advisers choosing the 'best' product for their clients and the concerns they have.
Chris Unwin, Training and Consulting Services Director says "Risk advisers that I speak to are paranoid about whether they a recommending the best product or the best company. The answer is it doesn’t exist, because it is crystal ball gazing. We are only going to know what the best product is when something happens to them.”
The other dimension of this problem is an obsession with absolutism: in several categories the difference between the 'best' product and any one of the next three is about 1%. That is effectively a dead heat. When the product rating is so close then two strategies are suggested:
Be more specific about what this particular client needs or desires.
Bring in additional factors such as customer service
We are pleased to announce that the policy document library is now live, which means you are able to search for legacy and current documents for all providers. If you are a research subscriber you can simply click on the ‘Research Tools’ button on the Login screen ‘Policy Wording’ then ‘Document Library’. We have loaded over 200 documents but still looking for more so if you have any please send them to us.
Australian website The Adviser writes "The country’s largest mortgage provider has revealed that a key focus for its growth will now be via the proprietary channels. CBA detailed its growth strategy at a question and answer session following the release of the bank’s half-yearly results this week."
It is a little morbid, but that is unfortunately a fact of life when you work in life insurance. Click here to read a list of 13 unusual ways to die, as you won't necessarily die of old age or disease life insurance will protect you from the unexpected.
Barack Obama has recorded a video for news website BuzzFeed in an attempt to reach the younger voting audience. Apparently it's been successful - in the video Obama uses a selfie-stick, posing in front of the mirror, scribbling pictures of his wife, and playing imaginary basketball: all things the President supposedly does when alone.
In the video Obama rehearses a speech in the mirror reminding Americans about the fast-approaching annual deadline to secure health insurance, which falls this Sunday in the US. The video went viral with almost three million views on Facebook within two hours of its launch.
Quality Product Research New Database Version 7.7a is now live on Quotemonster. Between 7.6 and 7.7 the following major changes were made:
SBS - Life & Trauma rated. AA Life - Income Cover (AV) rated. AIA Life Cover rated. AIA Trauma Cover (SA & Acc.) rated. AIA Income (AV & Ind.) rated. AIA Mortgage Repayment rated. OnePath Redundancy Cover rated under all Income Products & Mortgage Repayment. Existing redundancy cover for all othe providers reviewed. Sovereign review (Life & TPD & Mortgage Protection). AMP RPP Income (total disability to age 70) AMP RPP - 'future insurability' and 'special events' increase added to Life, Trauma & TPD. Medical Review changes for Sov ans Accuro. Product changes to Asteron Trauma Acc and Standalone
Version 7.7a has a minor fix incorporated and went live overnight. Subscribers to the database will receive in the database in the usual way. Users of the Quotemonster site are already using the new database.
Brittany Mann, writing on stuff.co.nz tells the story of Fleur Truscott, a young woman is having a double mastectomy because she has lost every female relative on her side of the family to breast cancer.
When there are so many relatively painless choices that I can make improve my health and well-being - such as eating less and exercising more - I am humbled by the choice that this woman has made. My choices are so much easier today.
Today AIA launch their brand new product, Mortgage, Income and Rent Protection. They have also announced a number of enhancements to their Trauma Cover and Income Protection Agreed Value. Along side these product changes they also have some underwriting improvements.
Here is more information directly from AIA's release: