Are you close to qualifying? Increase your compensation up to 30% with our Loyalty Bonus Program
Submitted by Krishan on April 5, 2019 - 10:49am
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Your Achievements Deserve to be Rewarded
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Eligibility To qualify for the Loyalty Bonus Program (LBP), the advisor must earn a minimum Net First Year Commission (NFYC) within a calendar year (the “Minimum NFYC”). For 2019, the Minimum NFYC is $10,000.
Eligible Products
All Canada Protection Plan term and permanent life insurance products.
Qualification Period Applications must be settled between
January 1st 2019 - December 15th 2019
How does it work? Example: 
* The total premiums expected to be paid on the policy in the first year.
How will it be paid?
The additional bonus will be paid by the end of February of the following year. IE: When you generate $10,000 in NFYC in 2019 and attain our Bronze level, you will be paid an additional 15% bonus on all your 2019 NFYC, payable in February of 2020. The Loyalty Bonus Program (LBP) is only paid on the NFYC and not on the override.
Rules and Regulations |
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| Participating advisors must have a valid broker code with Canada Protection Plan and the broker code must remain in force and in good standing until the Loyalty Bonus Program (LBP) is paid out. Eligibility for the LBP is not transferable. The LBP is not a contractual obligation and Canada Protection Plan reserves the right to change it or cancel at its sole discretion. Cancellation of the LBP will not affect the entitlement of advisors to Bonus compensation earned prior to cancellation and not yet paid by Canada Protection Plan. Canada Protection Plan will set the amount of the Minimum NFYC to be entitled to the additional Bonus effective as of January 1 of each year. If in any calendar year an advisor receiving a LBP Bonus generates less than the Minimum NFYC, the advisor will no longer be entitled to a LBP Bonus. If in any subsequent year the advisor generates the Minimum NFYC for that year, he or she will be entitled to a LBP Bonus at the Bronze level. There will be no pro-rating of qualification requirements for advisors who contract with Canada Protection Plan during the qualification period. Qualification criteria cannot be transferred from one advisor to another. To qualify, there must be only one advisor submitting business per code. No credit split will be accepted. Where the involvement of an agent in a split case is solely to provide leads to another agent, Canada Protection Plan reserves the right to only pay the bonus to the writing agent. Canada Protection Plan reserves the right to charge back any loyalty bonus that has been paid on policies for which the commission has been charged back in the first two years. All eligible candidates must maintain an acceptable quality of existing business and follow industry and regulatory guidelines including full disclosure to their clients regarding participation in the Loyalty Bonus Program. sales@cpp.ca | 1.877.796.9090 | www.cpp.ca/advisors CANADA PROTECTION PLAN and the logo are trademarks of Canada Protection Plan Inc. |
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