SSQ Financial Group
We have GOLD at SSQ…Guaranteed!
Agenda
•
•
•
•
Who is SSQ?
Product portfolio
Sweet spots
Reward program
2
SSQ Financial Group – At a glance
• A major Canadian financial institution with more than:
– One million clients
– 1,900 employees
– $10 billion in assets under management
– $3 billion in premium income
• Presence in four sectors of activity:
–
–
–
–
Individual insurance
Investment and retirement
Group life and health insurance
General insurance
3
Financial Stability
SSQ
Manulife
Sun Life
Great West Life
Industrial
Alliance
ROE
2011
ROE
2010*
ROE
2009*
ROE
2008*
ROE
2007*
11.3%
15.9%
13.8%
11.3%
13.7%
0.2%
( 7.3%)
5.2%
1.8%
18.4%
( 2.2%)
10.2%
3.4%
5.1%
14.3%
17.6%
14.8%
13.8%
12.7%
20.7%
4.7%
12.8%
11.9%
4.0%
15.2%
* According to generally accepted accounting principles in Canada (GAAP)
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SSQ Ranks 6th among Canadian LifeCos
Market Share
(%)
Premium Growth
(%)
1
Great West
23.8%
0.89%
2
Sun Life
17.7%
7.28%
3
Manulife
16.9%
-2.75%
4
Industrial Alliance
7.0%
6.50%
5
DFS
7.0%
6.83%
6
SSQ Life
3.6%
35.25%
Based on 2011 financial results, data by MSA Research
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Our Lines of Business
Premiums
2011 ($M)
Group insurance
1,298
Investment and retirement
1,027
General Insurance (Auto and Home)
219
Individual Insurance
151
2,695
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Expansion across Canada
• Offices in Vancouver, Calgary, Toronto, Montreal,
Québec and Halifax
• 2010 : Acquisition of SSQ Place in North York
110 Sheppard Avenue East,
Suite 500 Toronto, ON
M2N 6Y8
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Why should you be looking at SSQ?
• Our stability & financial strength (A-)*
• Our innovative and competitive investment &
insurance products
• Our commitment across Canada
• Our service
• Our professional team
*A.M. Best
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Our Dedicated Sales Team
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Term insurance
Issue
ages
End
Coverage
type
Rate
bands
Preferred
risks
T10
18-75
85
Individual
Multi-Life
Joint first to die
250K +
T20
18-65
85
Individual
Multi-Life
Joint first to die
Joint last to die
$25,000 – $99,999
$100,000 – $249,999
$250,000 – $499,999
$500,000 – $999,999
1M+
T70
18-60
70
Individual
Multi-Life
10
Term insurance
• Preferred risks (250K)
– NS1, NS2, NS3, NS4, S1, S2
• Renewable (T10, T20) and convertible
• Indexation privilege – T10
– Automatic increase for first 5 years: 30%, 25%,
20%, 15%, 10%
• Extreme Disability Benefit (EDB) included
– 50% payable in advance
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Additional benefits
• Accidental death and dismemberment
(AD&D)
• Monthly income in case of disability
• Child rider
• Waiver of premium in case of disability
• Benefit in case of fracture
12
Term 10 with indexation option
Class 3 - Male, 40, NS, $275K *
Rank
Company
Premium
1
T10
A
$234.75
2
T10
B
$248.25
3
T10
C
$249.00
4
T10
D
$250.75
5
T10
E
$250.75
6
T10
SSQ Insurance
$251.00
6
T10 Index.
SSQ Insurance
$251.00
* LifeGuide, August 7, 2012, including policy fee
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Term 10 with indexation option
Class 3 – Male, 40, NS, $275K *
age
amount
premium
max. increase
40
$275,000
$251.00
30%
41
$357,000
$303.80
25%
42
$426,250
$347.80
20%
43
$481,250
$383.00
15%
44
$522,500
$393.72
10%
45
$550,000
$410.50
-
Class 3 - Male, 45, NS, $550K *
age
amount
premium
45
$550,000
$603.00
* LifeGuide, August 7, 2012, including policy fee
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Critical Illness insurance
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Critical Illness insurance
Plans
Policy types
Base – 3 illnesses
Enhanced – 25 illnesses
Child – 28 illnesses
Individual, Multi-life
Issue ages
T10, T75, T100: 18-65
T20: 18-55
T100-20 pay: 18-50
Child - T75, T100, T100-20 pay: 30 days-17
Rate bands
$25,000 - $99,999
$100,000 - $249,999
$250,000 - $2,000,000
4 conditions
10% up to $50,000
Additional benefit
Assistance benefit
Second medical opinion, medical referral, psychological assistance,
legal assistance etc.
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Critical illness insurance
• Riders
– Refund of premiums
• ROP upon death = 100% (all plans)
• ROP at expiry = 100% at age 75 (T10, T20, T75)
• ROP upon cancellation = 100% after 20 years or at age 55
(T75, T100, T100-20 pay)
– Children’s endorsement – 15 illnesses
• Additional benefits
– Waiver of premium
– Fracture
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Product positioning
• Very competitive T10 and T20
– LifeGuide
18
Universal Life
19
Loan Insurance
20
Loan Insurance
• Life, credit disability and CI package
• Term life insurance is core coverage
• Additional benefits:
– Total Disability rider
– CI Rider
– Waiver of premium in case of total disability
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Loan Insurance
• Term life insurance
– Face amount options
• Level
• Decreasing to 50% of initial amount
– Renewable for 5 year terms after initial term
– Convertible
– Built-in guaranteed insurability feature
• 25% of initial insurance amount (max $100,000)
• Up to age 60
– Extreme Disability Benefit (EDB) included
• 50% payable in advance
22
Loan Insurance
• Total disability rider
– Eligibility
• Employed 25 hours or more per week, 8 months
per year
– Issue ages
• 18 to 55
– End of coverage
• Age 60 (65 if disabled)
– Monthly indemnity
• Up to 1.5% of life amount, max. $3,500
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Loan Insurance
• Total disability rider
– Benefit period
• 2 or 5 years
– Guaranteed insurability
• Increase proportional to life increase, exercised
simultaneously
• Age 55 or less
• Monthly indemnity: up to 1.5% of life amount, max.
$3,500
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Loan Insurance
• Total disability rider
– Assistance benefit
• Second medical opinion, medical referral,
psychological assistance, legal assistance etc.
– Claims
• Proof of loan required
25
Loan Insurance
• CI Rider
– 3 illnesses: cancer, heart attack, stroke
– Issue ages
• 18 to 55
– End of coverage
• Age 85
– Lump sum
• $20,000
– Assistance benefit
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Loan Insurance
• CI Rider
– 3 illnesses: cancer, heart attack, stroke
– Issue ages
• 18 to 55
– End of coverage
• Age 85
– Lump sum
• $20,000
– Assistance benefit
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Product positioning
• All-in-one solution: life, credit disability and
CI conveniently packaged
• Competitive pricing – specifically level
insurance amounts, terms 20, 25, 30 and 35
• Alternative to bank products
• Covers line of credit, commercial loans
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Commission
FYC
Loan Insurance 10
Loan Insurance 15
Years 2 +
40%
Loan Insurance 20
Loan Insurance 25
45%
3%
40%
3%
Loan Insurance 30
Loan Insurance 35
Disability rider
CI rider
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Whole Life
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Whole Life is strongest area of growth
Annualized premium market share by product
Q4 - 2011
Q4 - 2012
7%
Source: LIMRA
31
Persistent high sales of Whole Life
Premium growth by product
32
Source: LIMRA
Product features
Type of
policy
Whole life
20
Entry
age
Individual
Multi-life
Individual
Whole life
Multi-life
100
Joint 1st-to-die
Term 100 Joint 2nd-to-die
Rate bands
Cash Paid-up
values values
Year 10
0 to 75
$10,000 - $49,999
$50,000 - $99,999
$100,000 - $249,999
$250,000 and over
Year 10
none
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Product strengths
• Choice of 3 guaranteed products - 20 Pay, Life Pay WL100 & T100
• Generous cash values and paid-up values – starting at year 10
• Lifetime renewal commissions – 2%
• Built-in Extreme Disability Benefit (EDB)
• Additional Benefits: AD&D, MI, Child Rider, WP, Fracture benefit
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EDB– unique to SSQ
Extreme disability means that the insured is in a state of total
and irrecoverable disability as a result of which the insured is
wholly unable to work, and that this condition has been declared
permanent by a physician.
• No extra cost
• 50 % of the sum insured up to a max. of $250,000
• Payable before age 60
35
Lifetime commissions
WL 20
FYC
Years
2-5
Years
6-10
Years 11+
50%
5%
2%
2%
(up to year 20)
WL 100
50%
5%
2%
2%
Term 100
50%
5%
2%
2%
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Marketing documents
37
WL 100 with Cash values
Male, 45, NS, $250,000, Regular
Premium
Year 10
Year 15
Year 20
A
$2,585.00 $0
$0
$0
B
$2,857.13 $0
$0
$0
SSQ Insurance
$2,915.00 $21,750 $37,000
$54,250
C
$3,017.50 $4,875
$12,625
$24,188
D
$3,017.50 $12,225 $28,100
$49,600
E
$3,077.50 $10,150 $39,025
$67,900
F
$3,157.50 $0
$0
G
$3,117.50 $15,655 $30,113
$48,325
H
$3,227.63 $12,250 $31,500
$53,750
I
$3,435.00 $20,283 $46,705
$66,525
Source: LifeGuide March 27 2013
$0
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WL 100 with Paid-up values
Male, 45, NS, $250,000, Regular
Premium
Year 10
Year 15
Year 20
A
$2,585.00
$0
$0
$91,121
B
$2,857.13
$28,001
$42,002
$56,003
SSQ Insurance
$2,915.00
$78,250
$109,750
$134,000
C
$3,017.50
$0
$0
$49,500
D
$3,017.50
$10,795
$64,773
$118,750
E
$3,077.50
$23,000
$76,250
$116,250
F
$3,157.50
$31,575
$47,363
$63,150
G
$3,117.50
$36,498
$61,593
$87,723
H
$3,227.63
$48,821
$98,620
$135,299
I
$3,435.00
$69,749
$136,812
$166,047
Source: LifeGuide March 27 2013
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WL 20 with Cash Values
Male, 45, NS, $250,000, Regular
Premium Year 10 Year 15 Year 20
A
$3,802.50
$0
$0
$0
B
$4,487.50
$1,750
$13,000
$38,500
C
$4,502.50
$9,763
$25,535
$63,115
D
$4,540.00
$33,488
$66,975
$89,300
E
$4,605.00
$12,188
$36,563
$97,500
SSQ Insurance
$4,655.00
$30,500
$54,500
$83,750
F
$4,685.88
$7,678
$26,885
$59,210
G
$5,045.00
$12,275
$34,250
$68,700
H
$5,045.00
$9,750
$18,938
$32,250
Source: LifeGuide March 27 2013
40
WL 20 with Paid-up values
Male, 45, NS, $250,000, Regular
Premium
Year 10
Year 15
Year 20
A
$3,802.50
$0
$0
$250,000
B
$4,487.50
$12,500
$67,750
$250,000
C
$4,502.50
$0
$0
$250,000
D
$4,540.00
$125,000
$187,500
$250,000
E
$4,605.00
$25,000
$125,000
$250,000
SSQ Insurance
$4,655.00
$109,500
$162,000 $250,000
F
$4,685.88
$30,598
$84,171
$250,000
G
$5,045.00
$25,000
$100,000
$250,000
H
$5,045.00
$0
$0
$250,000
Source: LifeGuide March 27 2013
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Term 100 positioning
Male, 45, NS, $250,000, Regular
Premium
A
$2,432.50
B
$2,585.00
C
$2,715.00
D
$2,722.50
SSQ Insurance
$2,760.00
E
$2,805.00
F
$2,845.00
G
$2,885.00
Source: LifeGuide March 27 2013
42
Par products vs. SSQ non-par (CV)
WL- 100 Male, 45, NS, $250,000, Regular
Premium
Year 10
Year 15
Year 20
SSQ Insurance
$2,915.00 $21,750
$37,000 $54,250
A
$3,409.30
$14,590
$24,133
$34,335
B
$4,482.84
$10,842
$33,075
$66,680
C
$4,658.22
$7,547
$23,121
$64,868
D
$6,891.84
$17,062
$52,050
$104,935
Source: LifeGuide March 1, 2013
43
SSQ non-par vs. Par products (Paid-up)
WL- 100 Male, 45, NS, $250,000, Regular
Premium
Year 10
Year 15
Year 20
SSQ Insurance
$2,915.00 $78,250
$109,750 $134,000
A
$3,409.30
$50,843
$68,957
$81,193
B
$4,482.84
$16,205
$47,972
$105,520
C
$4,658.22
$14,159
$38,729
$98,137
D
$6,891.84
$28,640
$81,723
$174,749
Source: LifeGuide March 1, 2013
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SSQ’s Merit Plan for Advisors
Life & Health insurance:
$1 in NFYC = 40 sales credits
ASTRA Funds:
$1 in sales* = 1 sales credit
*Pro-rated contracts
1 Million credits = $1,600
Over 5 Million credits = $20,000
January 1st to
December 31st, 2013
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SSQ Financial Group Spring Roadshow
2013 May 15 & 16
Join us for our professional development luncheon from 12-2pm and
meet our CEO, Mr. René Hamel!
And that's not all! Do not miss out on the opportunity to hear from our special guest
speaker, Jim Ruta, a leading insurance expert, deliver his newest presentation and share
his extensive insurance industry expertise.
This presentation will qualify for CE credits.
Gain a new perspective to maximize your business opportunities.
Mark your calendar!
Mississauga
May 15
Delta Meadowvale Hotel
Richmond Hill
May 16
Sheraton Parkway Hotel
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