In this issue:

INVESTMENTS

• Your clients turning 71 in 2021
• Guarantee Advantage - June 2021 campaign | Our spring options are in bloom!

INSURANCE

• The COVID‑19 vaccine and insurance coverage
• Payroll ending April 1: Compensation pay delay
• Remote services: Always use 2 pieces of ID to confirm the identity of new clients
• Details about contracts mailed out in sealed envelopes
• March 28: DSign electronic application and Illustration software will be temporarily unavailable
• COVID-19: We’re still committed to helping you and your clients

YOUR CLIENTS TURNING 71 IN 2021

Under the Income Tax Act, the RRSP and LIRA contracts held by your clients turning 71 years old this year must be converted into a retirement product prior to December 31, 2021.

Steps to follow

First, please refer to the Internal transfers section of the Accumulation annuities or Guaranteed investment funds procedures guides, available on Webi under Investments > Policy services.

LIRA under federal legislation – Choice of contract

For LIRA contracts under federal legislation, please note that the Individual Annuity Contract Administration can only provide LIF contracts under Quebec’s provincial legislation. For all clients holding LIRAs under provincial legislation other than Quebec, we suggest a transfer into a Helios LIF.

GUARANTEE ADVANTAGE - JUNE 2021 CAMPAIGN

Our spring options are in bloom!

The June 2021 campaign has several great options for your clients:

• The maximum potential returns are:
  • increased for 6- and 7-year terms
  • maintained for the 5-year term
  • slightly reduced for 3- and 4-year terms
• The basket offer stays the same, except for the Canadian diversified basket that is not available.

To find out more about the June 2021 campaign, refer to Webi.

THE COVID-19 VACCINE AND INSURANCE COVERAGE

Getting the vaccine won't affect coverage

False claims have been making their way around social media to the effect that getting the COVID‑19 vaccine could have a negative impact on life, health or disability insurance coverage.

If clients ask you about this, please reassure them. Getting the vaccine won't affect anyone's life, health or disability insurance with Desjardins Insurance. It won't prevent anyone from taking out additional life, health or disability insurance coverage with us. And it won't affect the eligibility or acceptance of a client who has applied for insurance from us.

PAYROLL ENDING APRIL 1: COMPENSATION PAY DELAY

Please note that, due to Easter Monday on April 5, the payment of your payroll ending April 1 will be one day late.

We apologize for any inconvenience this may cause you.

REMOTE SERVICES: ALWAYS USE 2 PIECES OF ID TO CONFIRM THE IDENTITY OF NEW CLIENTS

When selling a life insurance product with a cash surrender value or a savings component* to new clients, always ask them to send you the following:

• A document containing their name and date of birth, AND
• A document containing their name and full address

See the complete list of accepted IDs in the Remote services during the pandemic section on Webi under Insurance > In addition > COVID‑19 – Business continuity plan.

*For universal, participating and permanent life insurance products with a cash surrender value or a savings component. (Products subject to anti-money laundering and anti-tax evasion requirements.)

How to record ID information

A section for ID information will automatically appear in the DSign electronic application when required.

If you’re using a paper application, fill in the Identification by Dual Process – Remote Services form and enclose it with the application.

Updating files of clients identified using the chat or selfie method since March 2020

There will be audits in the next few months, so now is a good time to start doing any updates. You can find the steps in the Updating client records tab in the Remote services during the pandemic section.

Questions?
Please contact your compliance officer.

DETAILS ABOUT CONTRACTS MAILED OUT IN SEALED ENVELOPES

As announced on February 8, we are now sending all contracts in sealed envelopes to ensure that personal information won't be accessed by unauthorized individuals.

You've probably noticed that the envelopes you received are postage-paid, which may be confusing. The intent and expectation are that you open the envelope to verify your client's contract and add any other documents you want to enclose.

Please don't reuse the envelopes to mail contracts to your client. The postage-paid stamp was not intended to pay for the postage to the client and may not work if the envelope isn't sent from our head office. Please send the contracts in a different envelope.