Looking After Life Leases
By Jo Anne Mitchell CIP
Effective Training & Communications Plus
Jo Anne Mitchell, principal of Effective Training & Communications Plus, is an insurance trainer based in Oliver, B.C.
1 Technical Credit for Level 1, 2, and 3 General Insurance Agents and Salespersons.
To qualify for CE credit…
– Read the entire article carefully, including all its sections and content labelled ‘Mandatory’.
– Select the ‘Mark Complete’ button at the end of each section to track your progress.
– Successfully challenge the quiz to demonstrate your learning.
– Select the ‘Completion Certificate’ link to save and download your personalized completion certificate.
Please Note: CE credits from this HyperArticleTM can only be used once towards your CE requirements every three licence periods. For further information on CE regulations, please refer to the Insurance Council of BC’s website.
Overview
This HyperArticle™ introduces you to “life leases”, a unique and relatively new housing option for seniors. Distinct from strata or co-operative ownership, life-lease residents purchase the right to occupy a unit for life rather than owning the property. You’ll learn the critical differences between life leases and strata units, the specific insurance requirements for life-leaseholders, and personal-lines policy solutions. The article emphasizes the need for brokers to carefully review life-lease agreements to ensure appropriate coverage and avoid errors and omissions.
When you’re ready, please go to the first content section…
