Empire Life Insight for December 23, 2020

December 7, 1941 — “a date that will live in infamy” is how U.S. president Franklin D. Roosevelt described the day the Empire of Japan unleashed a surprise attack on the U.S. naval base at Pearl Harbor. While a very different scenario today, if any year can be described as “a year that will live in infamy”, perhaps 2020 is it. What started off as a health concern on the other side of the globe quickly turned into a global pandemic that consumed and shaped the way we live on a daily basis.

In the latest issue of From the Desk of the CIO, Ian Hardacre reviews the global stock markets performance year to date. Ian also shares the team's strategy in this environment and where they see opportunity going forward.

	Helping customers with the life insurance claims process We have launched a new web resource to help walk customers through the process for submitting a life insurance claim. It also includes links to required forms as well as an FAQ section that easily provide answers to questions that may arise during the process. Since 2018, Empire Life has paid over 99.6% of all life insurance claims made on our policies. And, in a recent survey of Empire Life customers who submitted a life insurance claim from January through July 2020, respondents rated their satisfaction with the claims process an 8.8 out of 10 on average. Please feel free to share this resource with your clients.
	NEW Empire Life Disability Credit Protect: A rider for life insurance to help clients protect their lifestyle We are pleased to announce that Empire Life has launched an optional disability insurance rider for new EstateMax^®, Optimax Wealth^® and Solution Series® policies. The NEW Empire Life Disability Credit Protect™ is designed to help clients continue to pay their monthly loan obligations if they become disabled and cannot work. Empire Life Disability Credit Protect can help provide an additional layer of security for a client’s financial plan. Upon claim approval, it pays a monthly benefit to help clients cover eligible monthly debt payments such as mortgage, rent or a car payment. Visit our advisor landing page for highlights including new and updated marketing materials and sales aids.
	No-fluid life insurance underwriting requirements for coverage up to $1,000,000 Effective November 19, 2020, Empire Life is pleased to announce that underwriting requirements for life insurance coverage amounts up to $1,000,000 for insureds aged 18-50 will no longer require fluids or medical tests. Preferred underwriting for these cases will begin at $1,000,001. For full details, including transition rules, please see the Information Circular below. We have also created a Frequently Asked Question document for your reference.
	New Program: Policy Lapse Notifications for Advisors To help ensure that your clients’ life and health insurance policies remain in-force, advisors will now be sent a notice, by email, of impending policy lapse(s) to let you know of any client policies that are in danger of lapsing. The program was piloted earlier this year with a group of advisors and received only positive feedback. If you have questions about this program, please reach out to our Customer Service team at 1-800- 536-7683 or by email at insurance@empire.ca. This program can be withdrawn by Empire Life at any time.

	Bring balance and resiliency to your clients' portfolios with Empire Life Fixed Income Funds Fixed income has traditionally played a critical role in diversified portfolios, generating steady income while preserving capital and providing a hedge against equity risk. These benefits are particularly evident today as we experience extreme volatility in the markets due to the impact of the pandemic we find ourselves in. Clients are financially stressed and want a solution that will help lower risk and protect their investments. Discover how fixed income funds can help address the current low rates and high volatility of today’s markets
	Year-end cut off for Class Plus 3.0 Income Base Bonus eligibility All Class Plus 3.0 contracts will receive the one-time 4% annual Income Base Bonus on December 31, 2020, if no withdrawals have been made in 2020. The year-end cut off for deposits into Class Plus 3.0 to receive the annual Income Base Bonus is December 31, 2020 at 4:00 p.m. ET. This includes FundSERV trades, transfers from other institutions, and cheques submitted directly to Empire Life. There will be no exceptions for deposits received after this cut-off. Unsettled wire order purchases placed before December 31, 2020 at 4:00 p.m. E.S.T will qualify for the annual Income Base Bonus, and the Lifetime Withdrawal Amount (LWA) will be adjusted when the trade settles.
	Announcing Class Plus 2.1 deposit limit of $25,000 for 2021 Although Class Plus 2.1 was closed in November 2017, existing clients are eligible for the following special offers: Make a total maximum deposit of $25,000 to their account for the calendar year before December 31, 2020. Make an additional maximum deposit of $25,000 during the 2021 calendar year before December 31, 2021.
	Mutual Fund distribution estimates available Visit the Empire Life Investments website for our mutual fund distribution estimates. They are based on income and capital gains earned by the Funds in the taxation year to October 30, 2020. Actual distributions will be based on income and capital gains earned by the Funds to December 14, 2020.
	Give your clients the gift of guaranteed retirement income for life this holiday season! When you invest in Class Plus 3.0, you are guaranteed to receive a predictable monthly income that is guaranteed for as long as you live. The 4% Annual Income Base Bonus builds income potential – not pro-rated! Be sure to tell your clients that the 4% Bonus is available only until December 31st, 2020! Please note that there will be no exceptions and deposits must be received by December 31st in order to be eligible for the bonus.
	Now available on demand - TRIIPSS Webinar “Locked-In Retirement Accounts: Opportunities for retirement and estate planning” The recent TRIIPSS Webinar “Locked-In Retirement Accounts: Opportunities for retirement and estate planning” is now available on demand. Watch the replay on demand when it is convenient for you and complete the webinar quiz to earn CE Credits.

	Empire Life Forms have been moved to My Advisor Dashboard Empire Life forms and applications have been moved to a new secure location – My Advisor Dashboard. These documents can now be accessed quickly and easily from the dashboard in one of three ways: In the “Quicklinks” section By clicking on the new Forms and Applications tab By asking the chatbot To view the new locations for Empire Life forms, register or log into My Advisor Dashboard today.
	Reminder: Continuing Education (CE) Credits for those licensed in Manitoba Recently, the Insurance Council of Manitoba sent a notice to all agents licensed in the province to remind them of their obligation to ensure all Continuing Education (CE) Credit Hours are completed. In March 2020, the CE reporting for this year’s license renewal was deferred to May 2021 for all licensed agents. The recent email sent was an early reminder that license holders must complete the required number of CE credits for both 2020 and 2021, and report them prior to their license renewal for 2021. If you require further information, the notice from the Insurance Council of Manitoba can be found by clicking the button below.
	Holiday hours and year-end settle dates Please refer to the following Information Circular to learn more about our holiday hours of operations and year-end dates for Retail business.
	2021 weekly advisor pay schedule The 2021 Weekly Advisor Pay Schedule is now available. See the Information Circular for details.

QUICK LINKS

From the Desk of the CIO

2020: A year that will live in infamy

INSURANCE NEWS

Helping customers with the life insurance claims process

NEW Empire Life Disability Credit Protect:
A rider for life insurance to help clients protect their lifestyle

No-fluid life insurance underwriting requirements for coverage up to $1,000,000

New Program: Policy Lapse Notifications for Advisors

INVESTMENTS NEWS

Bring balance and resiliency to your clients' portfolios with Empire Life Fixed Income Funds

Year-end cut off for Class Plus 3.0 Income Base Bonus eligibility

Announcing Class Plus 2.1 deposit limit of $25,000 for 2021

Mutual Fund distribution estimates available

Give your clients the gift of guaranteed retirement income for life this holiday season!

Now available on demand - TRIIPSS Webinar
“Locked-In Retirement Accounts: Opportunities for retirement and estate planning”

CORPORATE NEWS

Empire Life Forms have been moved to My Advisor Dashboard

Reminder: Continuing Education (CE) Credits for those licensed in Manitoba

Holiday hours and year-end settle dates

2021 weekly advisor pay schedule