Canadian life and health insurance industry commends 2008 federal budget

    OTTAWA, Feb. 26 /CNW/ - The Canadian life and health insurance industry
commends the federal government and Minister Flaherty for the 2008 Federal
Budget. We welcome and support the continued fiscal prudence demonstrated by
the Government of Canada.
    "In particular, we welcome the new Tax-Free Savings Account initiative.
The life and health insurance industry looks forward to helping Canadians use
this vehicle to invest in their future," said Frank Swedlove, President of the
Canadian Life and Health Insurance Association.
    In addition, we are pleased that the government has made recommendations
in areas that the industry identified in its submission to the Competition
Policy Review Panel. This includes a $110 million investment in mental health;
$22 million for streamlining processes to bring skilled immigrants into the
labour market; modernizing securities regulation; and investing $89 million
over two years in Canada's foreign missions in support of Canadian companies
operating abroad.

    Established in 1894, the CLHIA is a voluntary association whose member
companies account for 99 per cent of Canada's life and health insurance

For further information:

For further information: Wendy Hope, Vice-President, External Relations,
(613) 230-0031 or (416) 565-1853 (cell)

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