Qualified member of your financial planning team

The Chartered Life Underwriter

The CLU? I have no idea what they do. Are they some kind of life insurance salespeople?

This is a common reaction. Unless you’ve actually worked on a financial or estate planning team with a Chartered Life Underwriter it’s hard to imagine how valuable he or she can be.

Like the Chartered Accountant or the Corporate Legal Counsel, the CLU is a senior professional in the field of life, health and group insurance, annuities and financial planning.

The CLU only becomes qualified through long years of study. On average, it takes seven years to complete the prerequisite course and twelve subjects administered by the Life Underwriters Association of Canada in consultation with University of Toronto, School of Continuing Studies. Upon completion of the course, the title and designation “Chartered Life Underwriter (CLU)” is conferred by the Institute of Chartered Life Underwriters of Canada.

These studies include advanced courses in taxation, law, business finance, economics and accounting as well as the principles of life insurance, estate planning and group coverage. The CLU follows a very high and rigid standard of ethical conduct.

Working with the lawyer, chartered accountant or trust officer, today’s “CLU” is a highly qualified member of the financial planning team.

What can a CLU do for you?

  • Life insurance is often a vital part of our clients’ financial planning. Having a CLU on your team will give you precise and up-do-date counsel in this complex and diverse area.
  • It works both ways. CLUs often require the counsel of other professionals in serving their own clients. When you have a working relationship with a successful CLU, it can be rewarding for both of you.
  • The laws and regulations concerning group coverage, annuities, RRSPs and pension plans are constantly changing. Here too, the knowledge and experience of your CLU can be invaluable.
  • Whether you are a lawyer, chartered accountant, trust officer or other financial officer, you know you work more effectively when you work with other professionals. When you work with a CLU you work with a recognized professional!

When our client asks us:

  • What part of my annuity income will be taxable?
  • Suppose my partner dies. How can I plan now for the funding to acquire her shares?
  • I want to make a charitable deferred bequest. What are the tax implications of using life insurance as my vehicle?
  • How should we design our company’s employee benefit plan? What options do we have in establishing a pension plan for them?
  • What are the pros and cons of corporate life insurance versus my owning it personally?
  • How does the Family Law affect my naming of beneficiaries?

…that’s the time to call your CLU-

Why a CH.F.C. For Financial Advice?

Look for someone with the recognized designation “CH.F.C.” – that is a “Chartered Financial Consultant”. Financial planning is not a term that is government regulated. Anyone can call themselves a Financial “Planner”, “Advisor”, or like term.

You deserve the expertise and knowledge of a qualified consultant. CH.F.C. is a regulated professional designation that is your assurance of years of specialized training and experience. CH.F.C’s continually upgrade and adhere to a very strict Code of Ethics.

Trust Jelco Financial Planning to offer the best advice and knowledge for your financial future.