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INSURANCE NEWS

Continuation of Current Dividend Scale until June 30, 2022

We are pleased to announce that the dividend scale for Empire Life participating products will be maintained at current levels until June 30, 2022, as approved by our Board of Directors earlier this year.

We are also maintaining the Empire Life dividend scale interest rate of 6.0% until June 30, 2022. For more information related to this announcement, please review the Information Circular.

Watch On-demand: Cross border insurance issues for Americans in Canada

Attend to learn about purchasing and structuring Canadian insurance-based solutions including life insurance — all presented through the experiences of a Canadian resident family with U.S. ties.

This webinar is a companion to Cross border investment issues for Americans in Canada that was presented in April.

CE credit offer expires August 26, 2021. Quiz will appear after the webinar has been viewed.

Changes to Empire Life Disability Credit Protect Rider Screening Questionnaire

Effective June 11, 2021, we updated the Empire Life Disability Credit Protect Screening Questionnaire for both Fast & Full and paper applications (INS-2853 – included in our Life & Health Application D-0082).

The changes provide further clarification regarding exceptions to eligibility as well as the definitions related to excluded occupations. There are no changes to the underwriting criteria for the rider.

For full details, including transition rules and a copy of the updated questionnaire, please see the Information Circular.

No-fluids underwriting for new life insurance coverages up to $2 million

Your clients want flexibility, convenience and service on their terms. That's why Empire Life has changed our standard underwriting requirements for life insurance coverage amounts up to $2,000,000 on life insureds age 18-50 so that they no longer include medical tests in most cases. 

Customers have the choice of applying for Preferred/Elite rates by providing fluid tests, or they can choose the convenience of applying without fluid tests for Standard rates between $1,000,001 and $2,000,000.

INVESTMENTS NEWS

Off the cuff with Ashley Misquitta:
Are we seeing the beginnings of supply pressure in the energy sector?

Ashley Misquitta, Senior Portfolio Manager, Empire Life Investments, shares his views on the potential impact that shareholders and courts are beginning to have on a few of the world's largest energy producers.

Emblem Asset Allocation Update –
May 21, 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.

Check out the blog post and download the latest asset allocation update for Emblem Portfolios.

Market Insight: Style rotation is powerful,
so is a disciplined investment process

Under the hood of the first quarter's market performance was one of the most powerful sector rotations in years. Investors shifted money out of growth-oriented, information technology shares and into long beaten-down sectors such as financials and energy.

At-a-glance: Our client-friendly infographic highlights market trends, including sector breakdown, what’s working/what's not working, global regional changes and outlook.

Look to our shining stars

Deliver stellar results to your clients with our disciplined, long term investment management approach that focuses on quality and downside protection.

CORPORATE NEWS

Changes to Anti Money Laundering (AML) requirements: June 1, 2021

Due to the changes to the Anti-Money Laundering Legislation effective June 1 2021, Empire Life must obtain the verification of identity on Owners who redeem funds from their existing policies and death benefit Claimants on any non-exempt life insurance and investment policies.

In addition, we must also take reasonable steps to determine that these same persons are not politically exposed (foreign) persons before we proceed with the surrender or payout. All relevant forms have been updated to reflect these changes. Completing the applications and forms in their entirety will help to avoid any delay in processing.

Reminder about Social Insurance Number requirements for Par and Solution 100 policyowners 

Section 237 of the Income Tax Act (Canada) states that your clients' Social Insurance Number (SIN) must be included on any tax information slips we provide to the Canada Revenue Agency (CRA).

If your customer does not provide their SIN to us for tax reporting purposes, they may be assessed a penalty by CRA if Empire Life issues any reporting on these policies and we do not have the SIN on file.

Introducing a New Distributor Code of Conduct

Empire Life is pleased to announce that we have a new Distributor Code of Conduct now available on the compliance section of our website.

The purpose of the Distributor Code of Conduct is to set out the standards of conduct that Empire Life’s distributors are expected to abide by in their business activities.