Effective June 26, 2017, Empire Life is reducing the minimum base coverage   amount for participating whole life insurance products for juvenile sales   (insurance ages 0-17).

The minimum base coverage amount for EstateMax and Optimax Wealth is reduced from $25,000 to $10,000 for life insureds insurance ages 0 to 17.

Our insurance sales illustration system has also been updated and Envision 10.9 is now available for download!

View the release notes.

The replay of TRIIPSS webinar "Beneficiary Blow-ups" is now available.

It is important to take the ‘big picture’ into account when estate planning. Short-sighted thinking, when naming beneficiaries, may result in beneficiary blow-ups. Peter Wouters will help you navigate strategies and avoid potential pitfalls.

To obtain your CE credits, watch the full recorded webinar and complete the quiz.

Go to replay.

The dangers of complacency: A portfolio manager roundtable featuring Ian Hardacre, CIO.

Bulls and bears both seem to be winning in 2017. Join Ian Hardacre and our panel of portfolio managers as they discuss the importance of staying alert in this market.

• Date: Wednesday, July 19, 2017
• Time: 12:00-1:00 pm ET 

Register now.

Recently we issued an Information Circular on the amendments to Canada’s Anti-Money Laundering and Anti-Terrorist Financing Legislation (Information Circular 2017-12). Please be advised that the government has now published an extension to the transition period to adopt to the new methods to ascertain the identity of individual clients. The transition period will now be until January 23, 2018.

Empire Life is launching Life & Money Matters, a new website to educate Canadians on financial planning and investments. The site answers the most common questions Canadians have at different life stages about life and money, and provides articles, videos, tools and calculators to help Canadians better understand their personal situation and how to navigate through it.

For consumers seeking advice or help with their investments or financial plan, the website offers a “Find-an-Advisor” feature to help them connect with a licensed life insurance advisor in their area. Learn more.

On May 4, 2017, the Genetic Non-Discrimination Act- Bill S-201 received Royal Assent and came into force in Canada. Under this Act, Empire Life will not require individuals to undergo genetic testing or disclose genetic test results in order for consumers to obtain insurance, reinstate insurance, change an insurance policy or receive a benefit under an insurance policy. Please review this information circular for more information.

The Department of Finance Canada announced consultations to implement the Common Reporting Standard (CRS) in Canada. Effective July 1, 2017, Empire Life will be required to collect additional tax information under new Canadian Income Tax Act (ITA) legislation from certain policy owners.

Please review this information circular for more information.

The CLHIA Reference Document “Advisor Disclosure” was revised recently. The most significant revision was the addition of a new disclosure element “Licences and Jurisdictions”. This element indicates that advisors should be disclosing all licences held, where those licences are held and the firms they place business through. The updated reference document includes updated sample disclosure documents for advisors to use if they wish.

Advisors should familiarize themselves with the revised reference document and ensure that they are meeting the requirements in their practices.

If you have any questions about Advisor Disclosure, please contact the Distribution Practices team at distribution.practices@empire.ca.