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This e-newsletter focuses on two living benefit insurance products: Critical Illness Insurance and Long Term Care Insurance.

Critical Illness Insurance

Below are some sobering statistics about the chances of Canadians suffering a critical illness:

  • Canadians are 10 times more likely to be unable to work due to a critical illness than to die before age 65.
  • It is estimated that one out of every two heart attack victims are under age 65.
  • One in three Canadians will contract some form of life-threatening cancer
  • Over 50,000 Canadians suffer a stroke each year
  • 70% of all open-heart surgeries are for coronary bypasses.

Many advocates of disability insurance maintain that critical illness coverage is an important component of any comprehensive disability insurance package. Nearly all critical illness policies offer some measure on insurance covering the Big Four conditions (heart attack, stroke, cancer and coronary artery disease requiring surgery). Some policies cover 10 conditions, while others are comprehensive policies and offer much more coverage, including Parkinson’s disease and occupationally acquired HIV.

Benefits: The chief benefit of having critical illness coverage is that when a critical illness is diagnosed and the insured survives for a minimum of thirty days from date of diagnosis, the insurance company pays a tax-free lump sum benefit ($25,000 to $2,000,0000) to the insured to use whichever way he or she sees fit.

Long Term Care Insurance

Below are some statistics about the baby boomers (those born between 1946 and 1966), who are entering retirement en masse and starting to experience health conditions associated with aging. Long-term care is required when individuals have lost their cognitive ability or can no longer perform at least two activities of daily living (ADLs) such as feeding themselves, dressing themselves, toileting by themselves, moving or transferring by themselves, et cetera.

Benefits: LTC pays a tax-free daily benefit for those who need some form of professional daily care as the result of an accident, illness or just aging. The benefit may range from $10 daily to $200 or more.

See how well you do in answering the questions on the above two products.

Yours sincerely,

Doug Planche, CFP, CLU, CH.F.C., F.L.M.I.,
Senior Vice President
Foran Financial Institute

Doug Planche is the instructor for the Foran LLQP 4-Day Exam Preparation Seminars. For information on the Foran LLQP seminars, please contact Foran Financial Institute at 1-800-565-0374 or visit

New learning resource

Download the new LLQP Study Schedule. It focuses on critical learning areas identified by provincial regulators.

NOTE: The LLQP Study Schedule is available to LLQP student members only. Click here to login and then select the LLQP Study Schedule from the Resources section.

Education programs to guide you through your career

Advocis’ Education Resources department offers a complete range of education programs.

To see how our programs can help guide you as you move through your career, please see our Curriculum Map.

To learn more about our educational programs and resources, please click here.

LLQP Student Membership

Advocis is pleased to extend complimentary membership to all LLQP students entering the financial services industry for the first time.  Membership does not happen automatically, and to make sure you are able to take advantage of this opportunity, please fill out the student membership application available here.

Upon successfully passing the Advocis LLQP examination, you will automatically be moved into our New Advisor Member Category, and your complimentary membership will be extended for another year. The Membership dues for New Advisors in their second, third or fourth year are only $250 – a savings of more than $500 a year!  For additional information on our New Advisor Member Category and our membership requirements, please click here.

Additional Study Aids

Preparatory Seminars and Practice Exams
LLQP Prep Seminars – A comprehensive four-day classroom-based seminar intended to prepare you for writing the certification and final licence exams.
Contact Foran Financial at: 416-947-1922 or 1-800-565-0374.


In This Issue

Critical Illness Insurance
Long Term Care Insurance
Additional Study Aids

LLQP Study Schedule
LLQP Program Overview
Regulators & Licencing
Exam Schedule

Comments & Questions
Ask The LLQP Expert
Newsletter Feedback


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