Finance committee  That would be our opinion also.

Finance committee  I'll answer that question first. We know there are insurance providers that aren't going into the market the way it's structured currently and would go into the market if it were more dynamic. So if there were some kind of tax incentive to allow the purchase of a long-term care p

Finance committee  Our belief is that you should lower the percentage withdrawal that has to come from the RRIF and make it consistent through the life of owning the RRIF. Now the formula for under 70 is dramatically different from the age of 71. I have never quite figured out what was magical abou

Finance committee  It matters which formula you choose, and we went through this and decided there are probably three different ways you can solve this problem. The first way is just to update the formula to something like one over 95 minus your age and maxing out at 15%, and that would solve the

Finance committee  The current RRIF rules do not allow you to start with an income that you can increase over time without that age of 71 causing you grief. If you keep it at the RRIF minimum, it increases at 71. Then the income starts going down because you keep taking a bigger percentage of a lit

Finance committee  That's the whole idea behind long-term care insurance. It's to allow people to give a choice of where they want to go, to be able to afford what they want to do, and to not rely on the government to do it for them.

Finance committee  Well, any time somebody is at home, paying for it themselves, they're not going to have to pay for it in a hospital or in some kind of long-term care facility.

Finance committee  Thank you, Mr. Chair and committee members, for the opportunity to appear before you today. My name is Clay Gillespie. I'm currently a member of the CALU board of directors. CALU and our sister organization Advocis represent approximately 11,000 insurance and financial advisers