The Canadian Life and Health Insurance Association (CLHIA) recently announced the withdrawal of Guideline G19 on advisor compensation for group benefits and group retirement services, effective as of May 31, 2019.
The CLHIA stressed that in spite of these changes, its members remain committed to disclosure. CLHIA president and CEO Stephen Frank stated, “Our industry is still strongly in favour of market transparency and plans to work closely with regulators and other stakeholders on these matters going forward.”
At The Benefits Trust, we have always been committed to openness and transparency. As a result, the withdrawal of Guideline G19 will not change the way that we communicate with our clients and advisor partners—with integrity, trust, and transparency.
On all monthly financial statements, we demonstrate complete transparency of every benefit dollar spent in each category, including administration and commission. Check out the video below to learn more about how to read your financial statement.
We’ve been operating with transparency for the past 25 years, and will continue to do so going forward.
Click here to read the full Insurance Journal article.
The Benefits Trust helps successful business owners build a better benefits plan than they can get anywhere else. Get in touch with us today!
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