NEW 10 Pay par option & No medical underwriting up to $750K
Empire Life recently announced two significant enhancements to our life insurance product portfoio and underwritting process.
See the two articles below for details.
Par 10 Pay - same great competitive features and long term values!
We are pleased to announce that we have added 10 Pay options to our EstateMax® & Optimax Wealth® participating life insurance.
The 10 Pay premium payment option offers consumers lifetime participating life insurance protection paid up in only 10 years. Available to all rate classes, 10 Pay participating plans include:
·Guaranteed paid up in 10 years with highly competitive Cash Surrender Values in most scenarios.
·All dividend options available for all risk classes, including rated cases.
·Designed to work with our most popular advanced sales concepts including Annuity Funded Life Insurance strategy (using a 10 year term-certain annuity).
·Competitive FYC of 35% and eligible for the 10% FYC bonus* when using the Fast & Full® Life App.
For full details on the new 10 Pay option, including new and updated marketing materials and the Information Circular, click the below:
*Additional FYC is bonusable. Available on all life insurance products and applications using the Fast and Full Life Application.This promotion can be withdrawn by Empire Life at any time.
No medical underwriting up to $750,000 for all life products
To make it even more “simple, fast and easy” to work with Empire Life, we have removed underwriting requirements for vitals and blood profiles on face amounts up to $750,000 for individuals aged 18-45. This applies to all life insurance products and results in no change to our premium rates. Please note, a PHI is required for policies starting from $750,001.
This enhancement, paired with our Fast & Full® Life App, will enable you to settle even more cases within 3 days . Don’t forget that until December 31, 2019, you can earn 10% more FYC* when you use the Fast & Full® Life App vs. paper.
*Additional FYC is bonusable. Available on all life insurance products and applications using the Fast and Full Life Application.This promotion can be withdrawn by Empire Life at any time.
Empire Life Investments announces new Global Equities Portfolio Manager
Empire Life Investments Inc. is pleased to announce the appointment of David Mann, CFA, as Portfolio Manager, Global Equities.
Now available on demand: TRIIPSS Webinar Individual Pension Plans (IPPs) - Part 1
The recent TRIIPSS Webinar Individual Pension Plans (IPPs) - Part 1, held on September 25th is now available on demand. Also available via the link below is a PDF of the presentation slides for your reference.
If you attended the TRIIPSS webinar, thank you for your participation - we would like to hear about your webinar experience; your feedback would be appreciated in this 5 minute survey.
Although WealthLink offers access to Fund Prices and Fund Facts documents, more comprehensive information is directly available on the Empire Life Investments website. Fund Prices along with Fund Performance and Profiles are available under the Prices and Performance section.
Fund Facts, as well as other important documents such as Fund Reports and the Investments Prospectus, are available under the Regulatory Documents section. We feel this is a simpler, more direct approach for our advisors and customers.
Program extended: Earn more commission on Empire Life GIF deposits
For a limited time, all Empire Life Guaranteed Investment Funds (GIF) deposits will earn an extra 10% commission. This includes GIF applications using the Fast & Full Investment App, additional GIF deposits processed through the Empire Life My Advisor Dashboard as well as paper applications and deposits.1
What's more, submit your first Fast & Full Investment App and receive a $50 bonus on your next commission payment from Empire Life.2The 10% bonus commission is now available from June 3 to December 31, 2019.
1 The campaign will pay an extra 10% commission on all deposits received and processed into Empire Life Guaranteed Investment Funds contracts - GIF 75/75, GIF 75/100, and GIF 100/100 from June 3, 2019 at 12:01 a.m. (ET) to December 31, 2019 at 4:00 p.m. (ET). 2 To be eligible for the $50 bonus, your first Fast & Full investment application must be submitted between January 1, 2019 at 12:01 a.m. (ET) and December 31, 2019 at 4:00 p.m. (ET) with the policy issued by 4:00 p.m. (ET) December 31, 2019 as per Bonus Rules. Total bonus reward per advisor is $50 and its value will be included as taxable income for 2019.
Collecting personal information and consent
Consent is a key element of the Personal Information Protection and Electronic Documents Act (PIPEDA), Canada’s federal private sector privacy law. Under PIPEDA, organizations are required to obtain meaningful consent for the collection, use and disclosure of personal information. Consent is considered meaningful when individuals are provided with clear information explaining what organizations are doing with their information.
Effective January 1, 2019, PIPEDA introduced seven new guiding principles to help organizations ensure they obtain meaningful consent from their customers by setting out specific expectations on how the law should be applied. Empire Life has created a reference document for distribution partners that summarizes these new guidance documents.
In keeping with recent changes to the conservation process, and our commitment to be simple, fast and easy to do business with, we are pleased to announce the following change effective immediately:
Customers or their advisor of record may cancel a pending T2033 request within 10 days of submission, either in writing or by e-mail. Please note that requests from the advisor must include a copy of the customer authorization to cancel.
Express Claims are now available
Beginning July 1, 2019, Investment Operations is now offering Express Claims for accounts below the $50,000 threshold*.This change is designed to facilitate a faster turnaround for our customers as well as making it easier for our advisors. Original documents will no longer be required. We will accept emailed copies of the following requirements;
·Proof of death by Funeral Director OR Online Notice of Obituary where details indicate it is the correct person. (ie date of birth matches and lists family members known on file)
·Beneficiary name(s), contact information and SIN for tax reporting.
·Executor Name and contact information for tax reporting.
Please note, we reserve the right to request a signed claimant statement or a copy of a death certificate.
*A death occurring outside of Canada or USA (snowbird) will NOT be handled as an express claim
