Empire Life Insight - March 13, 2018

Effective February 15, 2018, first year commission rates for life insurance sales submitted using the Fast & Full Life App are up to 5% higher compared to paper applications, which means advisors can earn 10% more first year commission with the Fast & Full Life App vs paper. With features like eContract Delivery and PAD-on-Approval, the Fast & Full Life App allows advisors to reach more clients, and settle policies faster. Learn more.

We announced our fourth quarter and year-end earnings for 2017. Read the news release. 

Our handy infographic highlights what's new and what's gone in the Budget. Share with your clients and start a conversation about changes to their financial plans. Download >

Save time for you and your clients with a faster application process. Simple and convenient, you can complete and submit an application for a segregated fund contract and transfer form without a single piece of paper.

Submit your first Fast & Full Investment Application between February 1 and June 29 and receive a $50 bonus on your next commission payment from Empire Life. Learn more about the Fast & Full Investment App.

Competitive pricing with new initial premium rates for Solution 20. Effective February 15, 2018, initial premium rates for Solution 20 have been reduced by an average of 3.2%, which should significantly improve overall initial premium rankings when compared to comparable products. Learn more.

Visit the Empire Life Investments website for the 2017 year-end mutual fund distributions. They are based on income and capital gains earned by the Funds in the taxation year to December 15, 2017.

Empire Life is excited to share that effective immediately, we have introduced a new authorization to allow the release of genetic test results to us. Clients now have the option to submit this form, giving us permission to use their genetic test results to assess their insurability. This consent is optional and is not a condition of Empire Life providing or continuing insurance coverage.

Please note that Empire Life does not require individuals to undergo any form of genetic testing in order to assess their insurability. In addition to this, clients are not obligated to disclose any genetic test results if they do not wish to do so. Read information circular 2018-04 for more information.

Recently the Canadian Life and Health Insurance Association (CLHIA) released Guideline G19 “Compensation Disclosure in Group Benefits & Group Retirement Services” to the industry, to establish industry standards for the disclosure of compensation for Group Benefits and Group Retirement Services. This will come into effect in January 2019.

The CLHIA has provided information regarding the guideline and where advisors can gain more knowledge and guidance in the attached letter. It is important that advisors who sell these types of products familiarize themselves with these requirements and we urge you to read the communication below from the CLHIA. Learn more.