BridgeForce News (February 8, 2021)
BridgeForce Updates
Industry Headlines
Waiting period temporarily waived for EI benefits
The federal government is temporarily waiving a one-week waiting period for employment insurance benefits. The decision essentially means that applicants will be able to start their claims and receive benefits immediately should they apply for aid starting Jan. 31.
Why advisors should guard against conflict with divorcing clients
Industry expert on the importance of establishing a date of separation and not taking civility for granted.
Don’t let client preferences come before your legal obligations
While much of this applies to the mutual fund world, it also applies in part to life insurance and investing in segregated funds. Clients may prefer communicating by text, but texting clients comes with risks
Compliance
FINTRAC has updated its guidance related to the Ministerial Directive issued by the Minister of Finance in July 2020
FINTRAC has updated its Ministerial Directive guidance published on July 25, 2020. The update clarifies the extended obligations that the Ministerial Directive places on reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations.
Advisor Education
ANNOUNCING! BridgeForce-University.com is Live!
BridgeForce-University.com is our NEW On-Demand service that is unlike any other on-demand service you have ever seen. No narrated slideshows, and no fake webinars, just video recordings of live events!
Over 100 accredited presentations are available for you to earn all of the CE Credits that you need for your Licenses and Designations. See presentations from your carriers, PLUS access new information from other experts in the industry that are designed to grow and improve your knowledge and your practice.
BridgeForce-University.com also gives you access to our Live Webcasted “Roadshows” through the year!
Get the convenience of On-Demand, get access to our Live BFG Roadshow Webcasts, and earn all of the CE Credits that you need! Anytime, Anywhere, and on Any Device!
Get it all by signing up for the Unlimited CE Plan for only $200!
Tech Tips
News
Cyber Security at Home and in The Office: Secure Your Devices, Computers, and Networks
With remote work becoming increasingly popular, we rely on numerous devices and our ability to connect to the Internet for work and personal reasons. However, cyber threat actors take advantage of our reliance on technology. Protect yourself by taking stock of all the technology you use, including your mobile and smart devices, computers, and Wi‑Fi networks.
Use dictation to talk instead of type on your PC
Use dictation to convert spoken words into text anywhere on your PC with Windows 10. Dictation uses speech recognition, which is built into Windows 10, so there’s nothing you need to download and install to use it.
Computer Picks
All models listed meet the following minimum requirements:
Intel Core i5, 8GB RAM, 128GB SSD
- Microsoft Surface Pro 7 – $1,199
- Microsoft Surface Laptop 3 – $1,349 (SALE)
- Dell Latitude 3410 (Business class) – $859 (SALE)
- Dell Inspiron 14 5000 (Home class) – $849 (SALE)
It is strongly recommended to purchase computers from the Microsoft Store or Dell.
Supplier Company News
Blue Cross
Health declaration form no longer required for individual health insurance
In our efforts to streamline the application process, only telephone interviews will be accepted to enroll in our individual health insurance products as of February 12, 2021.
Spread the exciting news to your clients
We have launched a contest for your clients who are eligible for EQ Care virtual health care service. To participate, your clients simply need to create an EQ Care account by March 21, 2021 for a chance to win one of two $500 Visa gift cards.
BMO Insurance
Policyowner verification process is changing
For the purposes of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its associated Regulations, BMO Insurance and its agents have a duty to verify the identity of policyowners on all new business and in force policies. While there is no change to the new business requirement, there are important changes being introduced for policyowners of in force policies.
Canada Life
Help your clients overcome loss aversion
With all the uncertainty in today’s market, you likely have clients who are feeling anxious about investing. Concerns about what they might lose could prevent them from seeing the bigger picture – this is known as loss aversion. Whether impacted by politics, climate change, pandemics or other global issues, unpredictable markets are here to stay and waiting for the market to settle could mean putting financial goals at risk.
Help your clients put their savings to work this RRSP season
We’re more than halfway through RRSP season! Check out resources that can support your client conversations.
4 months free Premiums on Term 20, 30 & 65
Thanks to your support, you’ve have made this offer overwhelmingly successful by helping many of your clients get the insurance protection they need. You are taking advantage of this offer with your clients and we would like to continue to make it available to you for a limited time. As such, Canada Life is extending the introductory offer of four free months of premium* until Mar. 1, 2021.
Canada Protection Plan
Lifetime protection. Guaranteed premiums.
Advantage Plus1 is designed to be an all-in-one insurance solution that can help your clients meet their financial goals, protect their loved ones and contribute to their overall wellness.
Desjardins Insurance
- Desjardins receives 16 FundGrade A+ awards, including 7 for DFS guaranteed investment funds
- Guarantee Advantage – New year, new options!
- Reminder – Keep the reference number in the subject line of email
- Disability insurance: How to enter temporary telework in the insurance application
- Sending contracts even more securely
- COVID-19: Business Continuity Plan
Empire Life
- NEW CI Protect Plus 100 15 Pay
- Get rewarded for growth in 2021 with Empire Life GIFs
- Emblem Asset Allocation Update
- Empire Life offers greater choice with 3 new segregated funds
- Launch of a new segregated fund product exclusive to the World Financial Group distribution network
- Policyholder tax reporting for 2020 and RRSP season 2021
- Empire Life December 31, 2020 Investment Statements
- New Business Update
- Streamline your digital sales by connecting your LDA account to the Fast & Full Life App
- The eBUNDLE BONUS is back for 2021
- Important changes to Solution 100 Guaranteed Cash Values and Paid-Up Values
Equitable Life
2020 Year-end client statements will be delayed
We regret to announce there will be a slight delay in releasing 2020 year-end segregated fund client statements. This means online statements will now be posted in early February. Paper copies will be mailed mid-February. We hope this delay does not cause too much disruption to your business.
Electronic Signature Updates
In October, we updated EZcomplete® online application to automatically request additional information for e-Delivery. This information included name and email addresses for Insureds, Joint Owners, Signing officers, Parents and Legal Guardians. At that time, only the advisor and policy owner needed to eSign the policy delivery documents.
Fidelity Investments
Weekly Market Pulse (February 5)
Foresters Financial
Membership Matters (February edition)
- Strong foundations: Celebrate Youth Leadership Month
- World Cancer Day: Together we can reduce the impact of cancer
- Exercise and diabetes: How and why you should keep moving
- Boost your well-being by learning something new
iA Financial
Economy and vaccines: Canada is losing ground compared to the U.S.
This week, the slower pace of vaccine rollout in Canada compared to the U.S. may taint economic data in the coming months.
Outlook for 2021: after the virus comes the vaccine
Despite the severity of the global pandemic, the world economy is in a good position to usher in a new economic cycle.
2021 RRSP or TFSA campaign
With the RRSP or TFSA campaign in full swing, what a great time to discuss Prestige preferential pricing with your clients! Promote the possibility of combining your clients’ assets with those of their immediate family members residing at the same address. They will more easily reach the eligibility threshold for Prestige preferential pricing and save!
2021 RRSP or TFSA campaign | Important dates
Here is the important information you need to remember to ensure your transactions are processed on time.
Manulife Financial
The new Advisor Portal secure site is coming: Here’s how to prepare
We’re taking a big step in our digital transformation journey! In a few weeks, we’re launching the Advisor Portal secure site to support your insurance, bank, group benefits and group retirement services’ needs. Designed using your feedback, we’re making it easier to do business and keeping the same look and feel as the public site. You’ll benefit from more information at your fingertips and increased security features, including the introduction of the Advisor Manulife ID that eliminates password resets.
Are you recommending the right permanent product?
Working from home might mean your spare room, your basement, maybe even your dining room has become your office space. You’ve adapted to your individual situation. The same goes for insurance – it’s not a one‑size fits all approach and often requires a custom fit based on your clients’ needs… especially permanent insurance.
A new, easy way to send in Manulife Bank mortgage referrals
This is a reminder that we now have a new process that’ll make sending in your mortgage referrals easier than ever before.
Tell clients about the new FollowMe enhancements
We’re thrilled to let you know that enhancements are coming to Manulife’s FollowMe™ Health and Dental Insurance, effective March 1, 2021.
It’s easier to find the TREPS Insurance team expertise you need
We’ve redesigned the Tax Retirement and Estate Planning Services (TREPS) Insurance page layout on the Advisor Portal.
RBC Insurance
Access to our new whole life product
We hope you’ve had the opportunity to take a look at our new participating whole life offering, RBC Growth Insurance™. Now available through our software, RBC Illustrations, we’ve delivered a fully comprehensive participating whole life product that will complement our existing life portfolio by bringing RBC Growth Insurance to the market for new business and term conversions.
Help your clients reach their retirement savings goals with RBC GIF!
The RRSP deadline is March 1, 2021. We can help you get ready and get the most out of this years’ RRSP season.
SSQ Insurance
Winter promotion for a limited time
The 18 month Select GIA promotion at 1.25% applies to new deposits and renewals until March 1, 2021.
Sun Life
- New CRA updates for FATCA and CRS guidelines for new insurance and wealth applications
- Paramedical service providers continue to operate as essential services
- Document centre now on the mobile app
- Advisor Guide – Sun Long Term Care Insurance (810- 3352)
The Sun Life dividend scale is changing on April 1, 2021
Every year, we assess the Sun Life dividend scale as part of our par governance and our commitment to Clients. As a result, we are making a change.
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.