New term rates available exclusively
on LifeGuide until March 15th!

INVESTMENTS NEWS

Market watch bulletin:
The Situation in Ukraine

The situation is changing very rapidly in Ukraine. Russian troops have invaded and the question as to whether an invasion was imminent has been answered. Between Russia invading Ukraine, troubling inflation levels and a Federal Reserve entering a tightening cycle, is the Pavlovian "buy the dip" approach that people have used in recent years still going to work?

Senior Portfolio Manager, Ashley Misquitta shares the team's thoughts on these recent events and how the Empire Life Investment Team's investment process and discipline have the potential to see investors through these challenging times.

Taking advantage of volatile markets using tactical asset allocation in the Empire Life Asset Allocation GIF

Senior Portfolio Manager, Doug Cooper’s commentary provides an update on the positioning of the Empire Life Asset Allocation GIF, highlighting examples of how the fund has tactically taken advantage of some extremely volatile markets over the past two years.

Read Doug’s commentary for insights and why the Empire Life Investment Team feels the Empire Life Asset Allocation GIF is well-positioned for success.

Now available!
Multi-Strategy investor Q4 Commentary and Advisor Holdings Update

Dave Paterson, Portfolio Manager, shares insights on market action over the last quarter of 2021, a year that provided most equity investors with double-digit returns. Bond investors did not fare as well for the year as rising bond yields pushed most fixed income indices into negative territory. However, in Q4, bonds performed well as lower yields provided some relief. Dave also discusses a few headwinds that emerged during recovery from the pandemic and the strong levels of economic growth, including Omicron, inflation, Central Bank tightening and increasing China regulations, in language that’s suitable for your investors.

Stay up-to-date on Empire Life’s Multi-Strategy portfolios with the Q4 Holdings Update for Advisors.

Now available on demand:
10 more key tax issues and opportunities
for investment clients and advisors

Join the Tax, Retirement and Estate Planning Services team as they cover 10 key tax issues and opportunities for investment clients and advisors. In this session advisors will learn strategies that will help them get started in the right direction for their practice and strengthen their clients’
financial well-being. This session is a companion to the TRIIPSS webinar:

A few year-end tax tips and strategies

CE credit offer available until May 24, 2022. A quiz will appear after the webinar has been
viewed.

New resource:
The Empire Life RRSP & TFSA toolbox

Now that it’s time to have retirement savings conversations with your clients and prospects, we’ve put together a handy online resource to help you navigate the season.

The toolbox gives you quick access to informative advisor and client resources that can help make your 2022 RRSP and TFSA season a success.

INSURANCE NEWS

New feature!
You can now quickly and easily update your clients’ primary addresses via My Advisor Dashboard!*

The newly added address change capability on My Advisor Dashboard allows you to make client address and phone number changes directly from the portal home page, by going to the “Quicklinks” section and clicking on “Update client address”.

Once submitted, you will see a confirmation screen that you can print out for your records.

Great news:
Permanent changes to non-medical underwriting limits

Earlier this year we made our temporary $2,000,000 non-medical underwriting limit for life insureds aged 18 to 50 permanent. We are pleased to announce that we have also made our other non-medical limits permanent!

Life insurance:

• Ages 51 to 55: up to $300,000
• Ages 56 to 60 up to $249,999 (was $300,000 as a temporary Covid-19 measure)
• Ages 61 to 70: up to and including $99,999 will require a PHI only
• Ages 71+: standard UW requirements apply (e.g., PHI & Vitals, BP)

Critical illness insurance:

• Ages 18 to 40: up to $250,000
• Ages 41 to 50: up to $99,999
• Ages 51+: standard UW requirements apply (e.g., PHI, Vitals, BP)

Please see the Information Circular for full details.

An improved application process for juvenile life insureds

We are pleased to announce the launch of an improved application for juvenile life insureds (aged 0 to 17) to make the process shorter and increase the probability of auto approved applications when using the Fast & Full Life App.

This enhancement is part of our commitment to increase the number of automated underwriting decisions and improve policy issue times for life and health insurance applications. For details and a complete list of changes and updates, please refer to the Information Circular. Check out the new demo video to see the changes in action in Fast & Full.

Updates to the Life and CI Underwriting Guide

To help you better advise your clients, we’ve updated our field underwriting guide to provide details of our processes and potential assessments for more of the most common medical conditions and non-medical risks. Specifically we have added or updated the analyses of the following:

• Atrial Fibrillation/Flutter
• Autism Spectrum Disorder
• Chronic Obstructive Lung Disease (including chronic bronchitis and emphysema)
• Concussion
• Epilepsy
• Gastric Bypass surgery (bariatric/weight loss surgery)
• Hepatitis C
• Family History and Critical Illness
• Updates to Hepatitis B
• Updates to Marijuana

Click on the button below to download the newly updated guide.

CORPORATE NEWS

Introducing TruStone Financial Inc.

This week, we announced we’ve purchased six financial services firms and amalgamated them into one wholly-owned subsidiary of Empire Life, called TruStone Financial Inc. TruStone Financial will run as an independent MGA with full control over its day-to-day operations.

New series!
Best Practices

Limited Trade Authorization (LTA) allows advisors to execute financial and non-financial transactions on behalf of the policy owner. These transactions include but are not limited to purchases, withdrawals and switches. Policy owners give advisors this limited trade authorization when completing all new segregated funds applications. The policy owner can revoke the authorization at any time by sending Empire Life a signed request.
Activity under LTA should not be done without prior discussion with the policy owner.

Advisors using LTA are required to retain a record of the customer’s request for audit purposes. At a minimum the records retained should include:

• The date, time and manner for which the instructions were provided
• The policy number(s)
• Details of the transaction
• Confirmation of any fees or DSC

This information can also be found in the investment administrator reference guide.

FINTRAC’s Withdrawal of temporary COVID-related support to reporting entities

At the beginning of the COVID-19 pandemic, FINTRAC announced a series of temporary supports to assist reporting entities due to the impact of public health measures.

The temporary supports included flexibility to reporting requirements and verifying the identity of an individual, or confirming the existence of a corporation or entity other than a corporation. FINTRAC recently announced that effective March 31, 2022, those temporary flexibility measures will end.