INVESTMENTS NEWS

Keeping you informed!
Emblem Asset Allocation Update:
January 27, 2022

Find out more about the Investment Team’s views on the
impact of recent events in the market and how the funds are
positioned going forward. Download the latest asset
allocation update for Emblem Portfolios.

2021 year-end distributions for Empire Life Investments mutual funds

Visit the Empire Life Investments website for the 2021 year-end mutual fund distributions. They are based on income and capital gains earned by the Funds in the taxation year as at December 15, 2021.

Join our LIVE TRIIPSS webinar:
10 more key tax issues and opportunities
for investment clients and advisors

Join the Tax, Retirement and Estate Planning Services
team as they cover 10 key tax issues and opportunities
for investment clients and advisors. In this session
advisors will learn strategies that will help them get
started in the right direction for their practice and
strengthen their clients’ financial well-being.

• Date: February 22, 2022
• Time: 2:15 pm to 3:30 pm ET
• CE credits: Pending
• Replay: Access to replay will be provided after the
  webinar. 

New resource:
The Empire Life RRSP & TFSA toolbox

Now that it’s time to have retirement savings conversations with your clients and prospects, we’ve put together a handy online resource to help you navigate the season.

The toolbox gives you quick access to informative advisor and client resources that can help make your 2022 RRSP and TFSA season a success.

Award winner!
Empire Life wins 2021 FundGrade A⁺ Award

We’re pleased to announce that Empire Life has received a Fundata FundGrade A⁺ Award for the Empire Life Global Smaller Companies GIF. The award-winning fund exemplifies the Investment team’s disciplined investment style, with a strong emphasis on finding attractively valued, high quality businesses to help build wealth.

INSURANCE NEWS

Updates to the Life and CI Underwriting Guide

To help you better advise your clients, we’ve updated our field underwriting guide to provide details of our processes and potential assessments for more of the most common medical conditions and non-medical risks. Specifically we have added or updated the analyses of the following:

• Atrial Fibrillation/Flutter
• Autism Spectrum Disorder
• Chronic Obstructive Lung Disease (including chronic bronchitis and emphysema)
• Concussion
• Epilepsy
• Gastric Bypass surgery (bariatric/weight loss surgery)
• Hepatitis C
• Family History and Critical Illness
• Updates to Hepatitis B
• Updates to Marijuana

Click on the button below to download the newly updated guide.

Policy backdating to save age on the
Fast & Full Life App

We recently introduced a new question in the Client Information section of the Fast & Full Life App that enables backdating by simply answering "Yes" and specifying a new date.

New policies can now be backdated by up to 6 months for life coverages and up to 3 months for critical illness coverages to save age and potentially take advantage of a more favourable rate band as compared to the attained age at the time of issue.

Now available on-demand:
Estate planning for blended families

Family conflict can create significant barriers to effective estate planning. As the traditional family structure changes and we see the emergence of more blended families, careful planning and attention to family dynamics within the blended family is essential.

Through a series of scenarios dealing with the blended family, advisors will learn strategies using life insurance to assist clients in blended families navigate various tax and estate planning issues.

Up to 1.25 credits available until April 20, 2022. Please complete the quiz that appears at the end of the webinar with a passing score of at least 60% to earn the credits.

Program Update:
Automatic policy lapse notifications

To help you retain more business, since late 2020 we have been sending email notifications to advisors whose clients' policies were in danger of lapsing due to non-payment.

The feedback on this program from advisors has been very positive and we have experienced an 84% retention rate on notified policies since launching the program. You can see a sample lapse notification below.

Spurred by the success of this program, we will be introducing additional notifications in 2022 aimed at helping you build and retain more of your Empire Life business. More to come.

For Advisors selling and servicing business in Nova Scotia, the Insurance Act requires that clients who reside in Nova Scotia and appoint irrevocable beneficiaries must complete and sign/have signed a stand alone form in addition to their application or beneficiary change form. Please ensure that your clients complete the Empire Life form INS-3207 which can be found on our website.

CORPORATE NEWS

Policyholder tax reporting for 2021 and RRSP season 2022

Deposits to a registered plan made within the first sixty (60) days of 2022 are eligible for a tax deduction for the tax years 2021 and 2022. This deposit will be recorded on a tax receipt as made during the first 60 days of the year. The deadline for a tax receipt for the year 2021 is Tuesday, March 1, 2022.

Helpful hints for a smooth RRSP season:

• Please ensure that the cheque includes the application or account number.
• Please double-check that the cheque is current and dated for the relevant year ( i.e. 2022)
• Please do not send in duplicates (only send paperwork one way: email, fax or mail).  If sending multiple copies, ensure to indicate that on the paperwork.

For all Empire Life investment plans, click on the button below for essential 2021 tax reporting and RRSP season 2022 cutoff dates.

Do you need a Million Dollar Round Table (MDRT) certifying letter?

Need us to complete an MRDT certifying letter? To make sure your letter is received at Empire Life by February 21, 2022, please take the following steps:

• Step 1:
  Visit the MDRT website to download the qualifying letter and complete the appropriate sections.
• Step 2:
  Email a scan of the completed letter to: leanne.dowling@empire.ca

Once received, we will complete the letter and send it back to you.