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<H1>Canada -- Canadian Universal Life Sales: Level Versus Non-level Cost of Insurance (2007)</H1>
<H2>Author(s):  Phyllis Van Gorder</H2>
<H4>6/19/2007</H4></DIV>
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<DIV class=abstractBodySubheads>Snapshot</DIV>
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<P>This report provides sales data for 10 Canadian companies that sell universal life products. These companies represent approximately 87% of the universal life premium reported to LIMRA's Canadian Individual Life Sales survey. This report compares sales of individual level cost of insurance products with non-level cost of insurance products and provides buyer characteristics for the two types of mortality charges as well as death benefit options. The sales data includes annualized premium, face amount, number of policies and number of lives for new contracts written in 2006. </P>
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<DIV class=abstractBodySubheads>Recommendations</DIV>
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<P>This study provides annual trends in individual universal life insurance sales by type of cost of insurance.
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<LI>Designing and marketing a universal life product that is appealing to the consumer while satisfying profitability requirements has become a more difficult proposition in the past few years. This survey of many of the leading sellers of universal life insurance in Canada can provide some additional information for this process.
<LI>Use this study to track your own company's results to all participants' results by product. Is your company doing better than other companies in the survey for a particular COI product or is it lagging behind? If your company is lagging behind, why? Do your clients for a level or nonlevel COI product match those of other participants? Are you targeting the appropriate client profile? While this study alone may not provide the answers, it can help you pinpoint areas that warrant further investigation.
<LI>Participants in this study receive a confidential report that shows sales by individual companies (company names are masked) for each universal life cost of insurance product type. If your company does not participate in this study, consider joining next year. Participants get the most value from this study because they receive more in depth information to compare company sales to product specifications and are able to tailor their benchmarking to other companies.</LI></UL></DIV> <BR>