BridgeForce News (July 25, 2022)
BridgeForce Updates
- SALES OPPORTUNITY: On January 1, 2023, Sun Retirement Health Assist rates are changing
- Introducing BridgeForce Rewards
- Referral Campaign
- Non-Medical Limits
- BridgeForce Advisors Facebook Group
Industry Headlines
Missing continuing education credits prove costly
The Life Insurance Council of Saskatchewan’s market practices committee has entered into a consensual agreement and undertaking with two different licensed agents who failed to meet the continuing education (CE) credit hours required. In both cases, the council fined the licensees, ordered each to pay investigation costs, and required that both complete the missing credit hours within six months of accepting their respective agreements with the life insurance council.
Compliance
Do I have to report a breach?
To check out a 1 minute YouTube video “Obligations for reporting breaches”, click here.
As we saw in February, the first step is to determine the risk of significant harm, and the sensitivity of the information and to notify BFG. Further, many carriers require advisors notify them immediately if their clients are affected.
In March we looked at when and how to notify affected individuals. But when do you need to report?
The OPCC (Officer of the Privacy Commissioner of Canada – https://priv.gc.ca/en/) has a number of resources available to help you determine how to manage a breach.
BridgeForce Compliance News (June 2022)
- Title Protection
- Market Conduct Framework
- FSRA CE Penalties
Previous BridgeForce Compliance News Issues
Advisor Education
BridgeForce-University.com is our 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.
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!
Tech Tips
News
IE lives on in Microsoft Edge
Give your organization the dual engine advantage by moving to Microsoft Edge. Microsoft Edge with IE mode is the replacement for Internet Explorer 11 which is retired and out of support as of June 15, 2022.
Computer Picks
July’s Recommendations
- Microsoft Surface Pro 8 – $1,299
- Microsoft Surface Laptop 4 – $1,099
- Dell Latitude 3420 – $929
Recommended Computer Specs
- Intel Core i5 (11th Gen or higher)
- 8 – 16 GB RAM
- 256 GB SSD or higher
It is strongly recommended to purchase computers from the Microsoft Store or Dell.
Supplier Company News
Blue Cross
Rate review of select Health and Living benefits for the Blue Vision® product
Please note that after a thorough review, effective September 1, 2022, the Blue Vision product (SME Plan, Association Program, Global Plan and Express Plan) will be subject to a rate adjustment for the following benefits…
BMO Insurance
Little in life is guaranteed but this is
Apart from GIC-style accounts, what investment option can provide your clients with the security of guaranteed returns on their universal life policies? It may be time to look at the North American Equity Enhanced Market Indexed Account.
Canada Life
Segregated fund policies move Aug. 2
All segregated fund policies including Standard Series, Partner Series and Preferred Series move to a new administration system on Aug. 2.
New Canada Life fund shelf updates
The strength of our fund shelf continues to be a top priority for Canada Life. We continuously review our fund pricing to identify opportunities to further strengthen pricing attractiveness for investors and simplify our pricing structure for advisors to make it easier to do business with us
Empire Life
- eVision gives advisors a better way to run illustrations with no downloads required
- Understanding Empire Life’s Participating Account
- Guaranteed Life Protect maximum coverage increased to $50,000 for ages 51-75
- Dividend Scale Announcement for Empire Life Participating Plans
- The Empire for Life® Loyalty Program rewards your clients for staying invested with us
- CI Empire Life Concentric GIF product changes
The BIGGER eBundle Bonus is extended until September 30, 2022
Earn 15% or 20% more FYC1 on life and health products when you submit the application electronically using the Fast & Full® Life App and clients select and complete the Electronic Health Questionnaire (eHQ) and choose and receive eContract Delivery as compared to submitting paper applications and receiving a paper contract.
Equitable Life
Universal Life Product Fund Changes
In September 2022, we will be changing the underlying securities being tracked for several universal life funds. These changes apply to our current Equation Generation IV universal life insurance product and to any legacy products that offer these same UL funds.
Sales Campaign: Step Up Your Wealth Sales (Jan 1 – Dec 31)
Step up your wealth sales with Equitable Life® and you’ll be rewarded with a growth bonus for doing more business in 2022. Make this year your best year ever with Equitable Life!
Foresters Financial
Sales Campaign: Foresters All-Star Program (Mar 15 – Dec 31)
We want you to become a Foresters Financial™ All-Star in 2022. All-Star advisors may earn an additional 15% bonus on their Foresters Net First Year Commission (NFYC)!
iA Financial
Term life insurance: Ad campaign for young families and pre-retirees!
Term life insurance is flexible and can be adapted to different clienteles. Launched last May, our latest national advertising campaign targets two segments of great interest to you: young families and pre-retirees. The campaign objective is to generate leads for you within the Find an advisor platform.
Manulife Financial
Sales Campaign: Grow for it 2022 (Jan 1 – Dec 31)
By helping more Canadians get the protection they need, not only will you grow your business, you’ll also be rewarded with an iPad Air.
RBC Insurance
Enhanced Digital Solutions for your Clients
Digitization is the key to our future, and as we continue to invest in technology, we at RBC Insurance® are excited to announce updates to both the Plan Member Online Services portal and the My Benefits Mobile App, coming later this month for your clients with Extended Health Coverage.
SSQ Insurance
What economic trends does the second half of 2022 have in store?
Our fund managers, TD and AlphaFixe Capital, share their views on the economic perspectives for the second half of 2022, including the evolution of global stock markets, the inflation rate and the long-term effects of the Russia- Ukraine conflict.
Sun Life
- On January 1, 2023, Sun Retirement Health Assist rates are changing (SALES OPPORTUNITY)
- Q2 Voice of the Advisor Trend Report
- Intergenerational Wealth Planning
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