Contingent / Successor / Subrogated Policyowner
No one likes to think about passing away before their child reaches the age of majority, but it’s always a possibility. If it does happen and your client has not named a contingent/successor/subrogated policy owner, the minor may become the owner. As a minor, they cannot instruct us to make changes, including naming a new beneficiary. And without a legal guardian, policy instructions are limited and the minor and the minor’s estate become the owner and beneficiary. Parents are not legal guardians for the handling of a minor’s property (except in Quebec).
Instructions from a legal guardian or tuteur may also be limited as their instructions should not reduce the property of the minor.
Did You Know…
…that Marketing Reports on our Business Centre are a great resource for tracking your Term Policy Renewals? Check out the Premium Renewal Report from the Marketing Reports menu.
Updates to TD Investment Loan Program
Class Segregated Funds (Classes B, C, D, and E) are now available through the TD Investment Loan program. Updated loan materials are available on our Advisor website.
Empire Life Mutual Funds are also now available through the TD 3rd Party Mutual Fund Investment Loan program. More information about the TD Investment Loan program, and all other Empire Life Mutual Fund loan programs, can be found here.
C-0044 – Corporation/Other Entity Owner Supplement Update
The C-0044 form has been updated to include a Signing Authority and Declaration and Agreement section. Providing a section for this information to be collected on the form will mean fewer follow ups and quicker processing as a result. This form can be accessed on the Advisor website under Forms and Applications.
SOBE 2014 – Empire Life Conference
Check out our new South Beach website where you will find hotel information, qualification requirements, and you can also see the current weather in Miami!
As we get closer to the conference date more exciting event information will be added. Keep visiting us to find out more!