BridgeForce News | September 25, 2017
HEADLINES
Proposed changes to the taxation of private corporations
BridgeForce has been following the Liberal Government’s tax initiative outlined below in a recent Advocis email sent to its members. We believe the time has now come to initiate the action of all BridgeForce Brokers by calling, writing / emailing and visiting your local MP indicating that you are not in favor of the proposed legislation. It affects not only you, if incorporated, but many of your small business and professional clients negatively.
Federal tax proposals will harm vast majority of small businesses, CFIB survey says
Ninety-five per cent of tax professionals and small business owners say the proposed federal tax changes will hurt middle-class business owners and their families, according to a survey conducted by the Canadian Federation of Independent Business (CFIB).
A $500,000 lesson in how to fight identity theft
Identity thieves once stole a total $500,000 by pretending to be Jennifer Fiddian-Green. Her story is worth hearing if you want to understand the risks that arise when your personal information is stolen. We’re told endlessly to keep our data private so identity thieves can’t get it. But a data breach at the credit monitoring company Equifax highlights the way people can be vulnerable through no fault of their own.
New platform a counterpoint to small businesses’ tax worries
We are still some way off tax season, but it’s the topic that’s dominating discourse in the advisory field currently. The federal government’s proposed changes for incorporated business, specifically income sprinkling and passive investment accounts, have not been warmly received by financial planners.
InsuranceINTEL Weekly News Bulletin: Trends and changes in the life and health insurance industry
Sun Life – Making it quick and easy for Canadians to apply for life insurance online, Manulife – Launching of transfers within GIF Select, Great West – Grow your business with the grad program, Manulife – Important changes coming for universal life products, Manulife – Submitting life claims is easier than ever, Manulife – New plan member home page, Great West – Improvements to the new business web application, iA Financial – RESP: New default electronic services subscription, Equitable Life – Print a Client Summary from EquiNet.
Meeting: Advocis | A taste of MDRT President’s Edition (October 6, 2017)
Advocis Greater Hamilton is presenting a rare opportunity to see and hear from 5 past MDRT presidents, at one place, on one day, and on one stage. MDRT is the world’s leading financial services professional organization with over 50,000 members. More information | Register
COMPLIANCE
Regulators agree to share conduct information
The Financial Consumer Agency of Canada (FCAC) and the Investment Industry Regulatory Organization of Canada (IIROC) announced this week that they have signed a Memorandum of Understanding under which they have agreed to exchange conduct information.
BridgeForce Compliance News (August 2017)
Canada Life updated compliance program templates for privacy and AML, with CE credits available, BridgeForce privacy statement & customer consent updated to cover third party service providers.
SUPPLIER COMPANY NEWS
Blue Cross
Meeting: It’s not what you make. It’s what your earn. (Sep 21 – Oct 5)
Did you know that your future valuation is largely based on your current book of business? Every play counts for the end game. Secure your tomorrow today! Register now to learn how to earn more green with blue.
Canada Life
Applications updated due to genetic testing legislation
The triple application (life, critical illness, disability insurance) and telephone application will be updated to provide more clarity around the disclosure of genetic testing. These new applications will be available when the current stock in supply is depleted. Your process doesn’t change, this information is simply for your awareness.
Desjardins Insurance
Webinar: Jet into DSign with fall highlights (Oct 11 – Dec 5)
Join us and learn more about the services and tools we offer for quick and easy sales! Jet into DSign and end the year with us by learning about all the great changes we made this year with an outlook into 2018.
Empire Life
Insight
Fast & Full Investment Application Limited Time Offer, Join our webinar about the Seven Sins of Succession Planning and earn CE credits, We are implementing a change in our Investment Maturity Reset process, Empire Life PAR could provide clients with 10 times the cash surrender value of Universal Life Insurance, Inuit Language Protection Act.
Equitable Life
CI as a rider
Now available as a rider, EquiLiving® added to your life insurance policy provides bundling discounts and comprehensive coverage in one convenient package.
Sales Campaign: Battle of the apps (Sep 1 – Nov 30)
Battle of the apps (Electronic vs paper). Each settled electronic app will receive a $25 Amazon gift card and each settled paper app will receive a $10 Amazon gift card.
ivari
Meeting: Starting a new conversation (Oct 23 – Nov 1)
It’s been two years since we officially became ivari and invited you and your clients to join us in starting a fresh, new conversation about insurance. We’re continuing that conversation and have a new Deputy CEO to introduce, as well as new information and ideas to help you build your business! Registration: Ottawa | October 23, London | October 31, Toronto | November 1
La Capitale
Invitation for the La Capitale Hockey event
Are you ready to catch the opening faceoff with La Capitale? Your volume of sales of La Capitale insurance and financial services products could earn you a seat at the Toronto Maple Leafs vs. Washington Capitals game on November 25, 2017.
Manulife Financial
Upcoming changes for universal life products
Manulife is changing the pricing of our level cost, universal life insurance products effective September 23, 2017.
RBC Insurance
More RBC Payout Annuity compensation for you
Great news! We’re excited to share that we are offering enhanced advisor compensation on all settled RBC Payout Annuity (POA) business from September 12 until December 31, 2017!
SSQ Financial
Fund closures and transfers of assets
The following SSQ GIFs will be closed on November 24, 2017, and their assets will be transferred to the funds indicated in the table below.
Major rate reductions
Is protecting your clients’ loved ones a priority? It is for us too! That’s why we created a range of Term and Term Plus life insurance products to meet their needs at a very affordable price.
Premium rates decrease and improvement of our market positioning
Effective September 6, 2017, we lower our rates on our Term and Term Plus products for fixed and decreasing insurance amounts. As a result, our overall positioning has improved and is amongst the best in most age groups.
SSQ’s secret to success: Manager selection
What makes our selection and monitoring of the SSQ Guaranteed Investment Funds (GIFs) so effective is the quality of everyone involved. We believe that by maintaining a disciplined approach to our manager selection, we are able to identify those who stand out from the rest.
Sun Life
NewsFlash
A message from Dean Chambers: Lower term insurance premiums coming in October, Term insurance transition rules,
Important information about illustrations for Sun CII and SunTerm.
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.