Listen on The Move
Most Canadians buy life insurance once — and the policy never moves again, even as life moves on without it.
On this episode of Cover Your Assets, hosts Pierre Daillie and Ayal Cohen sit down with Farzana Damji, Senior Director, Product Development at RBC Insurance, to explore a fundamentally different way of thinking about protection. Farzana introduces the concept of the coverage continuum: the idea that insurance isn't a single transaction but a living strategy that should evolve alongside every major and not-so-obvious life event, from a first paycheck to the transfer of an estate.
The conversation moves through the real reasons why coverage gaps form, why disability and critical illness remain the most underserved segments in Canadian financial planning, and why the biggest risk to a client's retirement nest egg may not be a market correction — it may be a health event no one saw coming. Farzana and the hosts also dig into the growing role of AI and technology in helping advisors keep the continuum alive, and why empathy, not product knowledge, may be the advisor's most powerful tool.
This is a candid, practical, and at times eye-opening episode for every advisor who wants to serve clients more holistically, and for every Canadian who has ever assumed they were adequately covered.
Chapters
0:00 — Introduction: The coverage gap hiding in plain sight
1:30 — Meet Farzana Damji, Senior Director, Product Development, RBC Insurance
2:00 — Twenty years at RBC Insurance: from sales support to product development
4:30 — The personal moment that shaped her view of protection
5:30 — What is broken about how insurance gets sold and reviewed today
8:30 — Walking the coverage continuum: early career, high earning years, and estate planning
14:30 — Where disability and critical illness fit in — and why they are the most underserved
17:00 — The silo problem: wealth and insurance in separate folders
20:00 — Where the continuum breaks down, and who is responsible for keeping it alive
25:00 — Technology, AI, and the new advisor toolkit
32:00 — The pre-retirement danger zone: when a health event does the most damage
35:00 — Cognitive dissonance, late arrivals, and the risks of waiting
44:30 — Real-world examples: what the continuum looks like in practice
51:30 — Why clients compare notes with neighbors instead of calling their advisor
55:00 — The one review question every advisor should ask every client this year
57:00 — Where to learn more about RBC Insurance's approach
Connect with Our Guest
Farzana Damji
Senior Director, Product Development, RBC Insurance
LinkedIn: Farzana Damji on LinkedIn
RBC Insurance: www.rbcinsurance.com
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