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1
ASTRA
SEGREGATED
FUNDS
AGI 2.1 GMWB
LIFE INSURANCE
Today’s Presentation
• Who is SSQ Financial Group
• SSQ Astra Fund Guarantees
• SSQ Astra Seg Fund Offering
• AGI 2.1 GMWB - Guaranteed Income Product
……..March 4, 2013 Deadlines
• SSQ Life Products
• Our Other Products
• Questions
3
SSQ Financial Group • One of Canada’s leading financial institutions
– Over one million clients
– Over 1,900 employees
– Over $10 billion in assets under management
– Nearly $4 billion in annual revenue
– A.M. Best Rating is A-
• SSQ Financial Group offers products and services in 5 sectors of activity:
– Group Insurance
– Individual Insurance
– Investment and Retirement (Astra Seg Funds & GMWB)
– Property and Casualty Insurance
– Realty management, promotion and development
4
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%
SSQ Ranks “6th” in Marketshare December 2011
Based on 2011 financial results, data by MSA Research
5
Financial Stability
ROE
2011
ROE
2010*
ROE
2009*
ROE
2008*
ROE
2007*
SSQ 11.3% 15.9% 13.8% 11.3% 13.7%
Manulife 0.2% ( 7.3%) 5.2% 1.8% 18.4%
Sun Life ( 2.2%) 10.2% 3.4% 5.1% 14.3%
Great West Life 17.6% 14.8% 13.8% 12.7% 20.7%
Industrial Alliance 4.7% 12.8% 11.9% 4.0% 15.2%
* According to generally accepted accounting principles in Canada (GAAP)
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Why should you be looking at SSQ?
• Our stability & financial strength
• A.M. Best rating A-
• Our innovative and competitive investment &
insurance products
• Our commitment across Canada
• Our and experienced team
Our ASTRA Funds Platform
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• Diversified platform offering over 50 funds – Alternative investment classes
• infrastructure, real estate and commodities
– 3 choices of Portfolio funds • Strategy, Celestia and Fundamental Index
– Funds with distributions
• Astra Equity GIA’s
• Institutional management on a retail platform
• Leading-edge website “Astr@Net” for advisors and clients
Key Highlights - ASTRA Funds Platform
9
• Contract based contract
• 4 different commission schedules
• Mode B pays 3% commission to you
• Same trailer fees on all asset classes
• Superior customer service
• Advisor segregated fund contracting
Key Advisor Benefits
10
NEW ASTRA Segregated Fund Guarantees Available November 26th, 2012
* All features are described in the information folder
Guarantee upon maturity
Guarantee
upon death
BASIC
75%
75%
ENHANCED
75%*
100%*
OPTIMAL
100%*
100%
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BASIC Guarantee
Initial Contract – Maximum age 90 Additional contributions – Age 100
BASIC
Maturity Date Age 100
Maturity Guarantee 75%
Death Benefit 75%
Funds permitted More than 50 funds
ASTRA Segregated Funds
12
ENHANCED Guarantee
ENHANCED
Maturity Date Up to Age 55 is Age 70
Between Age 55 – 75 is 15 years
Over Age 75 is Age 100
Maturity Guarantee 75%
Resets Upon request, 2 times a year
Death Benefit 100% (75% Age 80 or later)
Funds permitted More than 50 funds
ASTRA Segregated Funds
Initial Contract – Maximum Age 85 Additional contributions – Age 100
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OPTIMAL Guarantee
OPTIMAL
Maturity date Up to Age 55 is Age 70
Between Age 55 – 75 is 15 years
Over Age 75 is Age 100
Maturity Guarantee 100% for the contributions > 15 years
75% for the rest
Maturity Resets Upon request, 2 times a year
Death Benefit Guarantee 100%
Death Benefit Reset Every three years up to age 80
(Final reset on clients 80th birthday)
Funds permitted All funds with the exception of
specialized funds
ASTRA Segregated Funds
Initial Contract – Maximum Age 85 Additional contributions – Age 100
14
Fund Managers
3 Choices of Portfolio Funds:
CELESTIA FUNDAMENTAL STRATEGY
15
MStarMStar5 years
MStarMstar
5 years
Number of funds: 39 20Approx.
275Approx.
145
8% 10% 9% 7%
23% 25% 28% 25%
54% 60% 65% 56%
SSQ Market*Morningstar Ratings
Source: Paltrak* Sun Life, Manulife, Industrial Alliance and Empire
ASTRA FUNDS
16
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• Clients have flexibility to choose or change guarantees
throughout their Lifecycle
• Maximum age for subsequent contributions – Age 100
• Welcome Bonus available to offset DSC Fees
• Merit Program
• SSQ doubles sales credits from January 1 to March 31, 2013!
• $1 in NFYC = 80 sales credits
• $1 in sales of eligible ASTRA Funds* = 2 sales credits
• Commissions are paid weekly!
Key Highlights
• Leading edge site for advisors and clients
• Information updated daily
• Access Fund returns
• GIA rates
• Fund Manager updates
• Retirement calculator/tax slips
Astr@net
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Version 2.1
MARCH 4, 2013 – Suspension of
AGI 2.1
• Suspension effective March 4, 2013 to all
new contracts and deposit
• Effects all versions of Astra Guaranteed
Income – original, version II and 2.1
• Existing contracts remain unchanged
• PAC deposits will be allowed - cannot
increase amount.
20
SSQ Guaranteed Investment Products
Guaranteed Investments
Provide 100% capital protection and a fixed
rate of interest.
Individual products: Daily interest account
Guaranteed interest account (GIA)
Equity GIA
Laddered GIA
High Yield Monthly GIA
Select GIA
High Net Worth
Guaranteed Interest Account (GIA)
What is it?
Deposit with guaranteed capital and interest
Choice of terms
Simple or compound rate of interest
Redeemable or non-redeemable
ASTRA Equity GIA
100% guaranteed capital at maturity
10 year term Plus guaranteed minimum return
60% GIA & 40% ASTRA Funds
40% GIA & 60% ASTRA Funds
Redeemable at any time
Guaranteed minimum returns
Determined at issuance
Unlimited return potential
Minimum investment: $5,000
Laddered GIA
• What is it?
Deposit with guaranteed capital and interest
3-year, 5-year, 7-year or 10-year terms
Minimum investment: $5,000
Redeemable or non-redeemable
Individual plans permitted: RRSP, LIRA, TFSA as
well as non-registered plans
High Yield Monthly GIA
What is it? 1-month GIA with the best rate
Redeemable only
Minimum investment: $400
Withdrawals are possible at any time without
charge
Select GIA
What is it?
GIA with a more competitive rate
A single rate
Minimum investment: $25,000
High Net Worth
What is it?
Minimum investment in Astra Funds: $500,000
Group of individuals who belong to one family
No-load Mode A sales charge option
Automatic rebalancing option
“Welcome Bonus” – Reimbursement of
fees on incoming external transfers
• Reimburse the fees incurred by their clients on commissions, in
whole or in part, for transfers to ASTRA Funds
• Minimum investment amount is $25,000
• Complete the Welcome Bonus Program form
• Form must accompany the application
• Must be invested the back-load sales charge or no-load sales charge
– Mode B option
• “Welcome Bonus” is invested as Astra Fund units deposited in
member’s account as per the investment instructions
• Non-applicable to for ASTRA Guaranteed Income contracts - GIA’S,
Astra Equity GIA, AGI 2.1
• Refer to the “Welcome Bonus” form for more details
29
SSQ’s Merit Plan for Advisors
30
January 1st to
December 31st, 2013
Life & Health insurance: $1 in NFYC = 40 sales credits ASTRA Funds: $1 in sales* = 1 sales credit 1 Million credits = $1,600
* Net sales with deferred sales charge
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Over 5 Million credits = $20,000
DOUBLE CREDITS FROM JAN 1 TO MARCH 31, 2013!!
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SSQ INSURANCE PRODUCTS
32
Term
insurance
33
Term insurance
Issue
ages
End
Coverage
type
Rate
bands
Preferred
risks
T10 18-75 85 Individual
Multi-Life
Joint first to die
$25,000 – $99,999
$100,000 – $249,999
$250,000 – $499,999
$500,000 – $999,999
1M+
250K +
T20 18-65 85 Individual
Multi-Life
Joint first to die
Joint last to die
T70 18-60 70
Individual
Multi-Life
34
Term insurance
• Preferred risks ($250K)
– NS1, NS2, NS3, NS4, S1, S2
• Renewable (T10, T20) and convertible
• T10 Indexation
– Automatic increase for first 5 years: 30%, 25%,
20%, 15%, 10%
• Extreme Disability Benefit (EDB) included
– 50% payable in advance
34 34
35
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
35 35
36
Commission
36 36
FYC Years 2 +
Term 10 40% 3%
Term 20 45% 3%
Term 70 45% 3%
37
Commission
37 37
Additional
benefits
FYC Years
2-5
Years
6 +
Waiver of premium
50%
5%
2%
AD&D
Child rider
Monthly income
Fracture
38
Loan
Insurance
39
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
39 39
40
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
40 40
41
Loan Insurance
Issue
ages
End
Coverage
type
Rate
bands
Preferred
risks
T10
T15
T20
T25
T30
T35
18-75
18-70
18-65
18-60
18-55
18-50
85 Individual
Multi-life (6)
Joint first to die
Combining
coverage types is
possible
$25,000 – $99,999
$100,000 – $249,999
$250,000 – $499,999
$500,000 +
None
42
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
42 42
43
Loan Insurance
• Total Disability Rider
– Benefit period
• 2 or 5 years
– - 90 day wait – retroactive to day 31
– 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
43 43
44
Loan Insurance
• Total disability rider
– Assistance benefit
• Second medical opinion, medical referral,
psychological assistance, legal assistance etc.
– Claims
• Proof of loan required
44 44
45
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
45 45
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Product positioning
• All-in-one solution:
– Life, Credit Disability and Critical Illness
– Conveniently Packaged
• Competitive pricing on level face amounts
– For Terms 20, 25, 30 and 35
• Alternative to bank products
• Covers line of credit, commercial loans
47
Commission
47 47
FYC Years 2 +
Loan Insurance 10
40%
3%
Loan Insurance 15
Loan Insurance 20
45% Loan Insurance 25
Loan Insurance 30
Loan Insurance 35
Disability rider
40%
3% CI rider
48
Critical Illness
Insurance
49
Critical illness insurance Plans Base – 3 illnesses
Enhanced – 25 illnesses
Child – 28 illnesses
Policy types 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
Additional benefit 4 conditions
10% up to $50,000
Assistance benefit Second medical opinion, medical referral, psychological assistance,
legal assistance etc.
50
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
51
Commission
51 51
FYC Years
2-5
Years
6+
Term
renewal
T10
45%
5%
2%
15% T20
T75
50%
-
T100 -
T100- 20 pay -
52
Commission
52 52
Additional
benefits
FYC Years
2-5
Years
6 +
Children’s
endorsement
40%
5%
2%
ROP death
ROP expiry
ROP cancellation
30%
53
Whole Life
Insurance
54
Whole life insurance
54 54
Policy
type
Issue
ages
Rate
bands
Cash
values
Reduced
paid-up
protection
Whole life
20
Individual
Multi-life
0-75
$10,000 - $49,999
$50,000 - $99,999
$100,000 - $249,999
$250,000 +
✔ ✔
Whole life
100
Individual
Multi-life
Joint first to die
Joint last to die
✔ ✔
Term 100
None
55
Whole life insurance
• Premiums guaranteed for life
• Level premiums payable to age 100 or over 20
years
• Cash values
– Starting 10th policy anniversary
• Reduced paid-up protection
– Starting 10th policy anniversary
• Extreme Disability Benefit (EDB) included
– 50% payable in advance
55 55
56
Commission
56 56
FYC Years
2-5
Years
6-10
Years
11+
Whole life 20
Whole life 100
Term 100
50% 5% 2% 0%
57
Universal
Life
58
Universal life UL Investment UL Protection
Policy type Individual, Multi-life (2 to 5 lives)
Joint first to die (2 to 5 lives), Joint last to die (2 to 5 lives)
COI YRT
YRT 85/20
T20-YRT
T20-YRT
Issue ages YRT: 0-85
YRT 85/20: 0-80
T20-YRT: 0-70
T20-YRT: 0-70
Death benefit Increasing
Increasing indexed (YRT)
Level (YRT, YRT 85/20)
Level indexed (YRT)
Increasing
Rate bands $25,000 - $99,999
$100,000 - $249,999
$250,000 - $499,000
$500,000 - $999,999
$1 million +
59
Universal life UL Investment UL Protection
Preferred risks Starting at 250K
Bonus With or without (reduced fees) None
Face amount
adjustment (tax
exempt test)
No increase
Exempt test increase
Increase and decrease
Maximizer
No increase
Surrender charges First 9 years None
Investment options -Guaranteed interest accounts
1, 3, 5 and 10 years
-Index accounts
-Portfolio accounts
Included Disability benefit
Extreme Disability Benefit (EDB)
Insurability benefit for children
Critical illness benefit for children
Assistance benefit
60
Commission
61
Illustration
Software
64
Application
Form
65
Application form • All-in-one application
– Combines Life, CI and Loan Insurance
• Printable or Fillable full application - software
• E App – teleunderwriting
C:\Documents and Settings\All Users\Bureau
66
Application form
Separate
Beneficiary
section for
Loan Insurance
67
Advisor Access
70
Extranet
71
www.ssq.ca
Adeline Thomson - Business Development – Prairies
403 354 2764 adeline.thomson@ssq.ca
Barry Rubin – Inside Sales Representative
1-877-928-8801 ext 4256 barry.rubin@ssq.ca
Natalie Snow – Customer Service Representative
1-877-928-8801 ext 4281 natalie.snow@ssq.ca
72
Thank you.
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