INSURANCE NEWS

New sales aid! Could a 15% premium discount in year one cost more over the
long term?

For life insurance coverage that is intended to last 20 or 30 years, it pays to look at the cost over the entire initial term of
a policy to get the full picture.

We ran quotes for 344 scenarios for standard non-smokers, ages 18 to 60 and found that total costs for a client were lower for Empire Life in all but one case compared with the discounted rates of Company "Q". Download the new sales aid and see for yourself!

Earn up to +20% more FYC with the Fast & Full® Life App

Drive your business to new heights and grow your bottom line with the NEW, BIGGER eBUNDLE BONUS from Empire Life!

Earn 15% or 20% more FYC as compared to paper applications by submitting new Life and Health insurance applications using the Fast & Full Life App when clients select the Electronic Health Questionnaire (eHQ) and the eContract Delivery options.

It's faster, more convenient and now earns even more bonus commissions.

Join our next TRIIPSS webinar
Beneficiary blow-ups: Focus on insurance

Most beneficiary designations are made with good intentions — to make an estate as simple as possible in an effort to by-pass probate; or with a desire to provide equal distributions to one’s children. However, a simple oversight could create unintended legal, financial and personal consequence.

This session covers estate planning issues with a focus on insurance.

• Date: October 28, 2021
• Time: 2:30 p.m. to 3:45 p.m. ET
• CE credits: Pending

New application checklist for the Fast & Full Life App

To help ensure your client meetings go smoothly when completing a new life and health insurance application using Fast & Full Life App, we've updated our handy application checklist.

Use it prior to meetings to confirm with clients that they have all of the documents and information needed to complete the application in one sitting.

The Living Benefit Advance: Help for clients when they need it most

All life insurance from Empire Life offers a non-contractual Living Benefit Advance that allows the owner of the policy to apply for up to 50% of the death benefit in advance, to a maximum of $50,000, if they are diagnosed with a terminal illness and expected to survive for fewer than 12 months.

To help you make clients and prospects aware of this valuable benefit, we've created a new client brochure that you can download and share or order from InvestorCom. Please see the Information Circular for more details about the Living Benefit Advance.

INVESTMENTS NEWS

The natural gas rally, its global implications and investment opportunities 

A combination of increased demand and curtailed supply has resulted in a significant rally in natural gas prices globally. The implications could be substantial with companies and governments making every effort to soften the impact.

In the latest From the Desk of, Sara Shahram comments on the significant global rally in natural gas prices, how it happened and the implications. Sara also shares how this information will be used in the investment process.

Reminder: Get rewarded for growth with Empire Life GIFs 

Until December 31, 2021, earn a commission bonus for actively promoting the value of Empire Life Guaranteed Investment Funds (GIF) to new and existing clients.

Emblem Oversight Team Tactical Update 

Moving to a slightly less aggressive posture given some reopening has played out, supply chain difficulties remain and valuations remain elevated. We are also seeing some indications of slowing economic growth and we still don’t have a clear picture of just how transitory inflationary pressures will prove to be.

In light of all these factors we decided to make a modest change to a somewhat less aggressive positioning, while deploying cash in select portfolios to realign select asset class weights back to targets. Get the update and share it with your clients. 

Upcoming mailing to customers at age 71 holding RRSP/LIRA 

You will soon receive copies of letters being mailed to all of your clients who hold an RRSP/LIRA and will reach age 71 by the end of this year. These customers must collapse their registered savings plans by the end of 2021.

The letters explain what options are available to them and also indicate that their contract default will be applied if we have not received instructions by December 7, 2021. These letters will be mailed to customers in mid-October.

CORPORATE NEWS

Manitoba's Bill 8 Pension Benefits Amendment Act received Royal Assent on May 20, 2021 and will come into force on October 1, 2021. It includes many changes to the unlocking provisions of Manitoba locked-in pension funds that will provide Manitobans with more flexibility in accessing their locked-in funds. Key changes include: 

• • • One-time 50% transfer by an individual age 55 or older, from a Locked-In Retirement Account (LIRA) or Life Income Fund (LIF) to a RRIF
    • Financial Hardship unlocking from a LIRA or LIF on any of the following grounds of financial hardship (low expected income; medical expenses, rental arrears, mortgage arrears); and
    • A LIRA or LIF owner who is at least 65 years old may apply to unlock the balance in one or more of their LIRAs or LIFs.