The eBundle Bonus for the Fast & Full
Life App is back for Summer 2021!

INVESTMENTS NEWS

Get rewarded for growth with Empire Life GIFs

Earn a commission bonus for actively promoting the value of Empire Life Guaranteed Investment Funds (GIF) to new and existing clients.

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.

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

Empire Life Asset Allocation Fund: 25+ years of excellence!

With a total cumulative return of 305%, the Empire Life Asset Allocation Fund has been a proven performer since it was founded in 1994.

As one of the first segregated funds in this category, it has weathered many events including political and economic crises. Our flyer can be customized with your contact information for you to share with clients!

Are all sustainable investing approaches the same?

Sustainable investing has experienced increased interest over the past few years, with a sharp acceleration in 2020 due to the COVID-19 pandemic and high profile social issues. There are however, some common myths and misconceptions among investors that may be new to modern sustainable investing approaches. Get the latest insight into what we believe are the most misunderstood issues.

Watch On-demand:
Building and taking advantage of corporately owned segregated funds

Investors hold assets in a number of locations. Much of it may be held personally. Many business owners retain earnings not needed by their company and not needed by them inside the company. That brings up some questions. How is investment income taxed in a corporation? What are some of the tax issues generally and what about those issues when we are dealing with segregated funds?.

Join Peter Wouters for this session as he shares will share answers to these questions and examines strategies that advisors can use when dealing with corporate clients.

CE credit offer expires September 24, 2021. Quiz will appear after the webinar has been viewed.

INSURANCE NEWS

New Business Update

We made solid progress over the past 6 weeks to further reduce issue times for all application methods. In particular, applications using the Electronic Health Questionnaire (eHQ) now see 60% of contracts in under 5 business days!

We are also pleased to have welcomed many new frontline and support staff members to the Empire team over the past month. And, thanks to your diligence, we have also seen a steady decline in the number of not-in-good-order (NIGO) declines through the Fast & Full Life App.

The following are the current average issue timelines for new insurance applications as of June 22, 2021 with the trend vs. our last update in May:

>>Tips To Speed Up Files Through Underwriting

Find opportunities to grow your business with your clients’ expiring conversion privileges

We are pleased to introduce a new feature to help you advise and retain clients whose Empire Life policies have conversion privileges that are due to expire over the next 2 years. Now when you log into My Advisor Dashboard, you will see a new feature under the Insurance quick links called "Expiring Conversion Privileges".

This new feature will present you with a list of all your clients’ term life and critical illness policies with expiring conversion privileges over the next two years (if you have any eligible client policies). To access your list, please log in to My Advisor Dashboard using the button below.

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.

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.

CORPORATE NEWS

Our Fund Facts documents have been updated with financial data as at
December 31, 2020

All Fund Facts are available on our web site: 

• Empire Life GIF 75/75, GIF 75/100, GIF 100/100 (INV-941)
• Class Plus 3.0 (INV-1754)
• Discontinued products

Available next week:

• Option Plus Group RSP Segregated Fund Highlights (GP-0039)

Fund Facts for Empire Life GIF 75/75, GIF 75/100, GIF 100/100 and Class Plus 3.0 will no longer be available in print; please destroy existing stock. The Option Plus Group RSP Segregated Fund Highlights continues to be available through Print on Demand.

Updated AML/ATF Modules to include Amendments to Canada`s Anti-Money Laundering and Anti-Terrorist Financing Legislation effective June 1, 2021

We are pleased to announce that we have amended our AML/ATF Modules to align with FINTRACs new regulatory amendments that took effect June 1, 2021.

A high level summary of some of the specific changes for insurance companies, brokers, and agents are included in the attached information Circular.