Advocis | Monthly Update
Summer is the perfect time to invest in your professional development.
Why you need to help millennials understand life insurance
Financially, millennials have a lot on their plates, from paying off student debt and managing day-to-day expenses to buying houses for their growing families. So it’s not surprising that they may be forgetting something else: life insurance.
Effective March 1, 2016, all individuals who obtain an insurance licence in British Columbia are required, under Council Rule 7(5), to complete the Council Rules Course during their first licence period.
It has come to Council’s attention that a significant number of licensees who obtained an insurance licence between March 1, 2016 and February 28, 2017 (“New Licensees”), thereby requiring them to complete the Council Rules Course by no later than June 1, 2017, failed to meet this continuing education (“CE”) requirement. Council is concerned by the noncompliance with this requirement, as it believes it is important that all New Licensees be aware of their regulatory responsibilities.
Enhanced Financial Account Information Reporting to CRA on Insurance and Annuity Contracts (Advisor Version)
The following information has been prepared to help clients of Canadian financial institutions and their advisors understand Enhanced Financial Account Information Reporting and how it might affect them. This document should not be construed as tax, legal or financial advice. Client version.
SUPPLIER COMPANY NEWS
As rates rise – What will this mean for investors?
As expected, the Bank of Canada raised its overnight lending rate by one quarter percentage point, to 0.75 per cent. Its first increase since 2010. Read AGF’s market insight regarding the interest-rate decision.
Earn compliance CE credits
Earn up to 3 CE credits by completing training courses on AML and privacy compliance programs. These new courses help walk you through customizing the updated compliance program templates for your practice. Earn CE credits toward your licence. Completing your AML compliance program, Completing your privacy compliance program.
Genetic Testing: New Authorization form
Changes for dealing with genetic testing disclosure, New ‘Optional consent to use results from genetic testing’ authorization form.
New go-to tool for estate transfers, cash withdrawals and policy loans
Three tools in one – estate transfer, withdrawals and policy loans, Estate transfer+ replaces the former Estate transfer and cash withdrawals tool, New tool helps you speak to clients about the benefits of permanent life insurance.
Introducing the NEW Fast & Full Investment Application, Empire Life launches Website to help Canadians with Life & Money Matters, GIF Application Error, Did you miss our investment conference call?, Emblem Asset Allocation Update, The replay of TRIIPSS webinar “Beneficiary Blow-ups” is now available, Empire Life June 30, 2017 Investment Statements.
Benefits from EZcomplete this summer
The benefits of using EZcomplete don’t end when school’s out. EZcomplete will save you time, reduce errors and eliminate the back-and-forth Q&A associated with incomplete applications, freeing you up to enjoy more fun in the sun! Haven’t yet discovered how easy EZcomplete truly is? Test drive our practice application today!
EquiLiving critical illness rider: A great reason to get back in touch
Help your clients complete their financial plan by adding critical illness insurance to an existing term or whole life policy. Now available as a rider, the addition of EquiLiving provides bundling discounts and comprehensive coverage in one convenient package. This presents a great opportunity to reach out and offer extra value to your current clients. Handy prospecting letters are available on EquiNet® to support your efforts, and in force Equimax® illustrations showing the additional CI rider are coming soon.
Housing trends and opportunities market report
Did you know less than half of first-time homebuyers were offered other types of financial products such as lines of credit, bank accounts or mortgage life insurance when dealing with their mortgage professional? Get helpful sales ideas on how to position yourself as a mortgage-protection expert and grow your business with the new Foresters Financial™ Housing Trends and Opportunities Market Report.
Sales Promotion: Drive to Succeed (July 17 – August 31)
Foresters Financial and BridgeForce Financial would like to give you the incredible opportunity to drive 5 luxury cars through the beautiful Niagara region. We have reserved 7 spots for Ultimate Exotic’s 5-hour Exotic Car Tour Experience. We would like to put you in the driver’s seat.
Flexibility for our non face-to-face insurance application guidelines
Although it is always preferable to have direct contact with your client, we understand that there may be situations when it just isn’t possible. To provide the best service to your client and ensure compliance with current laws and regulations we are providing you with a list of guidelines to help you with non face-to-face insurance applications. Reference chart.
Lower fees for everyone
New lower fees on seven of our Balanced Guaranteed Investment Funds (GIFs) and Guaranteed Investment Portfolios (GIPS).
Critical Illness Insurance: A growing opportunity
Although it is increasingly being discussed, critical illness insurance still remains unknown to clients. Many of them worry about becoming ill, and do not want to think about the possibility that a family member would suffer from a critical illness. Yet, the truth is that many people are simply not financially prepared to deal with the additional financial constraints should they be faced with a life-threatening illness. Although a sensitive topic, it is valuable to include critical illness insurance in the financial planning process with your clients.
Critical Illness insurance, a growing opportunity, Mailing of investment statements, Have you tried our online redemption fee calculator?
New Business requirements for corporate applicants, Updated universal life investment account booklets now available, Marketing assistants may not verify the identity of your clients, Sun Life Financial Q2 2017 results.
Information and links to other websites contained in this document are solely for the information and convenience of BridgeForce Financial Group brokers. This information is not intended to provide financial, legal, accounting or tax advice and should not be relied upon in that regard. No endorsement of any third party products, services or information is expressed or implied by any information, material or content referred to, included in, or linked from this bulletin. The approved materials are the property of individual companies used under license and may not be copied, transmitted or used without express written approval. E. & O.E.