Sun Life | NewsFlash

New industry guidance available for entity clients related to FATCA

In the June 5 and June 19 editions of NewsFlash, we provided information about the Canadian regulatory changes to support Canada-U.S. Enhanced Tax Information Exchange Agreement and Foreign Account Tax Compliance Act (FATCA), effective July 1, 2014.

In addition to those communications, you can use this guide, developed by Canadian insurers in partnership with the Canadian Life Health Insurance Association (CLHIA), to help advisors have conversations with entity clients (owners) during account opening and future post-issue changes.

Required documentation for employer contributions to an individual’s RRSP

When an employer is contributing to an individual’s RRSPs, they are considered a third party to the contract and we are required to collect information about them. The following is a revised list of requirements to authorize the contribution.

Enhancements to the policy delivery receipt

We’re always striving to improve the client and advisor experience by identifying opportunities to provide better service. To simplify the ability to request and understand changes to issued life, critical illness and long term care insurance policies, we’ve modified and clarified the policy delivery process.