Online Life Insurance

The Canadian life and health insurance industry welcomes long-awaited amendments to Alberta’s Insurance Act which received Royal Assent on November 4, 2008 and strongly encourages other provinces to
follow Alberta’s lead.
“This is a major development in the evolution of insurance regulation in Canada and we congratulate the province of Alberta for its leadership in passing this important legislation,” said Frank Swedlove, President of the Canadian Life and Health Insurance Association (CLHIA). “This new and improved legislation serves as a model for other provinces to follow and we call upon other provincial governments to immediately address their own insurance legislation in the interest of harmonization.”
The Uniform Life and Accident and Sickness parts of the insurance legislation in Canada’s common-law provinces have not been fundamentally changed in almost 40 years. “This Alberta initiative creates an ideal
opportunity for insurance legislation across the country to be modernized to better reflect the needs of consumers,” added Mr. Swedlove.

Established in 1894, the CLHIA is a voluntary association whose member companies account for 99 per cent of Canada’s life and health insurance business. The industry provides a wide range of financial security products such as life insurance, annuities (including RRSPs, RRIFs and pensions) and supplementary health insurance to about 26 million Canadians.

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