Fair Market Value of an Insurance Policy

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An actuarial report issued by a Fellow of the Canadian Institute of Actuaries (FCIA) is recommended to support the determination of the fair market value of a life insurance policy.

PricewaterhouseCoopers (PwC) will provide you with a complimentary initial market value assessment. The assessment will provide a range for the fair market value of the policy. If desired, you can then request a full market value actuarial report.

In order to obtain your initial assessment, please 1) save this form on the hard disk of your computer with the name of your choice; 2) complete the information on the following pages and 3) forward them to us. You will receive your initial assessment, including the instructions to continue the process, usually within 10 business days.

Once the above information is provided, PwC will perform an initial assessment of the fair market value of the life insurance policy. We will also give you a fee quote for the full final valuation and report along with information needed for us to complete the final report. Should a valuation report of the health status of the life insured be needed, you will be required to provide to PwC a report completed by a life underwriter. We can provide names of consulting life underwriters should you need one. The life underwriter’s fees are in the range of $250-$500 and are payable to them directly. Should a physicians’ report be needed, the life insured would have to contact their physician to obtain the report and will have to pay any required fees directly to the physician.

Information provided to PwC for the purposes of this assessment will be kept confidential. PwC will not use or disclose any such information except as necessary for the purpose of estimating the fair market value of your life insurance policy and to the extent required by professional standards of practice.

Application for an Actuarial Report on the Fair Market Value of a Life Insurance Policy.

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