Underwriting, Claims, and Taxation

LLQP Accident and Sickness module, Underwriting, Claims, and Tax competency. Derived from publicly available sources: the CISRO LLQP competency profile, the Ontario Insurance Act (R.S.O. 1990, c. I.8), the federal Income Tax Act (R.S.C. 1985, c. 1 (5th Supp.)), and CRA guidance. ExamCAN is an independent study tool, not affiliated with CISRO, provincial regulators, or CRA. "LLQP" is used for identification only.

From the LLQP A&S competency perspective, an advisor must understand not only which product to recommend but also how it is risk-assessed before issue, how benefits are administered at claim time, and how the tax system treats premiums and benefits. A recommendation that ignores the tax treatment may cost the client significantly more than a well-structured alternative.

This module covers:

• Individual A&S underwriting: the principles and process.
• Key contract provisions that govern claims and benefit payment.
• Provincial Insurance Act statutory conditions for A&S contracts.
• Tax treatment of premiums and benefits: individual disability, group disability, critical illness, and long-term care.