Intro to insurance / Q&A Meeting 2026-03-16

Wholesaler list compilation strategies were discussed for a new client list, followed by an in-depth review of specific diabetes and pre-existing injury cases.

Wholesaler List Compilation
A divide and conquer strategy was initially agreed upon for creating a Canadian wholesaler list, including contact information and work location. It was decided that an existing wholesaler list would be reviewed before the group proceeded with additional research.

Diabetes Case Study Review
Discussions of a client with diabetes seeking $150,000 in coverage concluded that Assumption is a strong option for early qualification determination. Manulife was also affirmed as a good option for diabetic clients, with a decision to contact their wholesaler for application assistance.

Client Coverage and Compliance
It was noted that Desjardins offers a cheaper health benefit plan option by omitting drug and dental components, but a pre-existing carpal tunnel injury would likely be excluded. The question of compliance for serving as both a client’s advisor and executive/power of attorney requires securing a legal opinion.

Details

• Wholesaler List Compilation Strategy: The group needs to create a new list of Canadian wholesalers for various insurance companies and decided on a divide and conquer strategy to compile the list. Initial assignments were made, with Bernie Lyons taking Assumption and Empire Life, Kamlesh Vyas taking Industrial Alliance (IA) and Foresters, Richard Collin taking Canada Life, and Amarjit Singh Taggar taking Equitable. Derek Strong volunteered to research Manulife, UV, and Benova.
• License Transfer and Assignment Constraints: Amanda Longley and Derek Strong noted that they were currently unable to take on assignments because their licenses were not yet officially transferred or fully processed with the selected companies. Amanda Longley later offered to provide contacts for Sun Life, which was accepted.
• Specific Information for Wholesaler List: Bernie Lyons specified that the ideal list should include the names of the wholesalers, their phone numbers, their work location, and ideally their name, email, and phone number. Kamlesh Vyas offered an existing list of wholesalers obtained from « her financial, » which could potentially save the group significant time.
• Diabetes Case Study and Underwriting: Derek Strong presented a case involving a client with diabetes who is taking multiple medications and seeking a maximum of $150,000 in coverage, possibly considering UV for simplified coverage. Bernie Lyons suggested that Assumption may be a better option because diabetes is one of their « sweet spots, » and their application process allows early qualification determination, preventing rejected applications.
• Manulife and Diabetes Coverage: Richard Collin affirmed that Manulife is also a good option for clients with diabetes. Derek Strong decided they would reach out to Manique, their wholesaler, for assistance with the application process.
• Health Benefit Plan Options: Kamlesh Vyas explained that they typically use Desjardins or Manulife for health benefit plans, with Desjardins offering a cheaper option by selecting only the healthcare plan without the drug and dental components. They have an illustration for this type of plan that they offered to share.
• Coverage for Pre-Existing Injury: Mesi Ban presented a case about a person who is currently paying for physiotherapy and chiropractic care due to a carpal tunnel injury and is seeking coverage. Kamlesh Vyas advised that while Desjardins’ healthcare plan is a viable option, the person’s current treatment and injury would likely be considered a pre-existing condition, but noted that trying to apply for coverage carries « no harm ».
• Wholesaler List Update and Next Steps: Following Kamlesh Vyas’s offer to share an existing list of wholesalers, Bernie Lyons decided to have Kamlesh Vyas email the list to them for review before having the rest of the group continue their research. The other participants were instructed to hold off on generating their lists until the existing list is reviewed.
• Click Prim Campaign Update: Louis-Xavier Savard reported that they have started the first test for the Click Prim Ontario campaign with one advisor and will soon be able to share the results. They also clarified that their service does not sell « used leads » as they do not sell a lead to multiple people, suggesting that those seeking cheap leads should focus on building lists and calling people.
• Compliance Question Regarding Advisor/Executive Role: Amanda Longley raised a question about the compliance implications of serving as a client’s advisor while also being listed as their executive and/or power of attorney. Louis-Xavier Savard noted the situation is unique and suggested seeking a legal opinion, or potentially contacting the client’s insurance company (Industrial Alliance) for guidance.
• Advisor/Executive Role Research Recommendation: The consensus was that the compliance situation might be specific to the insurance company and the type of product, possibly being more strict for mutual funds than for traditional life insurance. It was suggested to start research using multiple artificial intelligence tools like ChatGPT and Grok for an initial opinion, but to secure a legal opinion for large or complex cases.

Suggested next steps

• Bernie Lyons will figure out the status of the wholesaler list with Kamlesh Vyas today, and text the group this afternoon if their help is needed to get additional names; then forward the compiled list to GFS to start adding them to the playbook.
• Kamlesh Vyas will email the list of all wholesalers obtained from her financial to Bernie Lyons.
• Bernie Lyons will confirm the presenter for next week’s meeting later today.
• Louis-Xavier Savard will research legal opinions regarding an advisor being the executive and/or power of attorney for a client, starting with ChatGPT.