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Can’t deliver an insurance policy in person? New process can help
We’ve made it easier to deliver an insurance policy when you can’t meet in person with your clients. In many cases, you no longer need to ask your Underwriter to pre-approve a non face-to-face policy delivery.
Canada is a big country and getting together with clients isn’t always an option. Our guidelines will help you through the process step-by-step so you can manage this type of business more easily.
Highlights
• Delivery: The new guidelines and limits cover non face-to-face delivery of Term, Synergy and Living Benefit policies regardless of whether the application was taken in person or not.
• Applications: Pre-approval is still required for Living Benefits and Synergy before an application can be taken on a non face-to-face basis.
• Exclusions: Performax Gold and universal life product applications must be taken and delivered in person.
New guidelines for non face-to-face delivery
1. You must be licensed to sell insurance in the province where the policy owner lives and where the policy will be delivered.
2. To protect privacy, enhance confidentiality, and provide tracking of the documents, you must send the contract and all delivery settling requirements by Registered Mail or by courier.
3. You must provide the same service to your client(s) for the return of the settling requirements (including a cheque) by enclosing a return Registered Mail/Courier envelope for your client to return the paperwork to your office.
4. When your client receives the documentation, arrange for a telephone call to ensure your client understands the documents and what needs to be signed/returned to you, including a premium cheque and automatic monthly payment/banking information (if required).
5. Please note all signatures must be witnessed by an independent third party of legal age who is unrelated to the applicants and does not stand to benefit from the insurance applied for. Examples of potential witnesses for a non face-to-face delivery may include a friend, neighbour or co-worker. The witness cannot be the policy owner, insured, payor or beneficiary.
6. The cheque must be from an account at a Canadian financial institution and it must be dated the same date as the settling requirements. (See “Payment types we accept” for full details).
Please note:
Due to Anti Money Laundering concerns, we do not accept validation of identification over Skype, FaceTime, video-conference or any other electronic method.
Product and coverage limits (non Elite)
Pre-approval is not required before taking a Family Term or Business Term non face-to-face application
| Family Term or Business Term | Face amount of $1 million or less |
Pre-approval is required before taking an application non face-to-face for the following products
| Synergy | Face amount of $300,000 or less |
| Lifecheque | Face amount of $100,000 or less |
| Proguard/Venture | Monthly benefit of $3,000 or less |
| ExpenseComp | Monthly benefit of $5,000 or less |
NOTE: Universal Life and Performax Gold applications cannot be taken on a non face-to-face basis.
You’ll find all of the details and information you need in these guidelines on Repsource. If you are Elite, here are your guidelines (login required).
