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INVESTMENTS NEWS

Get rewarded for growth in 2021 with Empire Life GIFs

Introducing: Empire Life GIF Growth Commission Bonus program.  New for 2021, earn a commission bonus for actively promoting the value of Empire Life
Guaranteed Investment Funds (GIF) to new and existing clients.

The growth commission bonus is available on deposits made between January 1 to December 31, 2021.

How does the Empire Life GIF Growth Commission Bonus program work? 100% of the growth commission bonus is payable directly to advisors to reward them for growing their GIF business and providing outstanding in-force service to existing Empire Life GIF clients.

The program rewards successful advisors in two ways:

1. GIF Deposit Bonus Rate – A commission bonus is payable based on GIF gross deposits.
2. Net Growth Bonus Factor – The GIF Deposit Bonus Rate is multiplied by the Net Growth Bonus Factor to determine the total GIF Growth Commission Bonus.

Emblem Asset Allocation Update –
January 25, 2021

Find out more about the Investment Team’s views on the impact of recent events in the market and how the funds are positioned going forward.

Download the latest asset allocation update for Emblem Portfolios.

New Funds in the Spotlight webinar January 2021

Watch the replay on demand when it is convenient for you and complete the webinar quiz to earn CE Credits.

Watch the replay

Empire Life offers greater choice with 3
new segregated funds

Empire Life Multi-Strategy GIFs provide exposure to exchange traded funds (ETFs) and actively managed investments from third-party managers within one segregated fund solution.

Learn more about the new Empire Life Multi-Strategy GIFs

Empire Life Global Sustainable Equity GIF invests in global companies that exhibit superior Environmental, Social, and Governance (ESG) factors while continuing the current management approach focusing on value and quality.

Learn more about Empire Life Global Sustainable Equity GIF

Launch of a new segregated fund product exclusive to the World Financial Group distribution network

On January 18, 2021 Empire Life launched a new segregated fund product that will be sold exclusively through the World Financial Group (WFG) distribution network.

The product, the Canoe EL Protection Portfolios, was developed in collaboration with Canoe Financial (Canoe) and will offer segregated fund portfolios made up of Canoe mutual funds. The Canoe EL Protection Portfolios is only available for sale through agents contracted with WFG.

Policyholder tax reporting for 2020 and RRSP season 2021

Deposits to a registered plan received within the first sixty (60) days of 2021 are eligible as a tax deduction for the 2020 or 2021 taxation year. A tax receipt will be issued stating that this deposit was made in the first 60 days of the year. This year, the deadline for a 2020 tax receipt is Monday, March 1, 2021.

Helpful hints for a smooth RSP season :

• Please make sure to have the application or account number on the cheque
• Please make sure the cheque is current dated with the correct year ( ie 2021)
• Please do not send in duplicates (only send paperwork one way: email, fax or mail). If sending multiple copies, ensure to indicate that on the paperwork

Read the information circular for important 2020 tax reporting and RRSP season 2021 cut off dates for all Empire Life investment plans.

We invite you check out the Tax Support Centre in your My Advisor Dashboard today for more information.

Empire Life December 31, 2020 Investment Statements

The Empire Life December 31, 2020 Investment Statements were mailed to customers beginning January 19, 2021. Customers who have signed up for electronic copies of their statements (eStatements) will not receive printed copies. Clients can view their eStatements on MyEmpire as of January 18, 2021.

Advisor copies of all client statements are now available on the Business Centre. The online statements feature allows you to conveniently download statements as Individual (single policy) or Bulk (all policies in a .zip file).

For additional information about your customer’s statements, please see the Information Circular.

INSURANCE NEWS

New Business Update

Streamline your digital sales by connecting your LDA account to the Fast & Full Life App 

We're excited to announce another digital innovation with our Fast & Full Life App. With the first integration of its kind, Life Design Analysis (LDA) users can now link your account with the Fast & Full Life App to automatically transfer life and health insurance product and client info directly into the application.

LDA has created a helpful, 3 minute walkthrough video to give you a hands-on demonstration of this new feature in action.

The eBUNDLE BONUS is back for 2021! 

With advisors and their clients continuing to rely on digital options to meet their insurance needs, the Fast & Full Life App has delivered at an unprecedented rate with our simple, fast and easy solutions.

Until March 31, 2021, advisors will continue to earn 10% more FYC for submitting business via Fast & Full vs. paper and can earn up to an additional 5% FYC for all products when both the eHQ and the eContract Delivery options are selected in the Fast & Full Life App.

Important changes to Solution 100 Guaranteed Cash Values and Paid-Up Values 

Effective January 28, 2021, we will be implementing a number of changes to the future values of our Solution 100 non-par, whole life product:

• Guaranteed Cash Surrender Values (GCSV) and Paid-Up Values (PUV) will start at the 10th anniversary year rather than the 4th anniversary year
• GCSV and PUV from Year 10 to Year 17 will be reduced
• GCSV and PUV remain unchanged for anniversary Year 18+

The new GCSV and PUV for Solution 100 will be available in the Envision 12.1 software release scheduled for January 28, 2021. For full details, including transition rules, please see the Information Circular.

Do you need a Million Dollar Round Table (MDRT) certifying letter? 

Need us to complete an MRDT certifying letter? To make sure your letter is received at Empire Life by February 22, 2021, please take the following steps:

• Step 1:
  Visit the MDRT website to download the qualifying letter and complete the appropriate sections.
• Step 2:
  Email a scan of the completed letter to: leanne.dowling@empire.ca 

Once received, we will complete the letter and send it back to you.

CORPORATE NEWS