Circulars

Dear Members,

The weekly bulletin informs members recent initiatives, campaigns and more, so check it consistently to stay up-to-date with ways to grow your business.

Carriers’ Updates

Canada Life

Insurance

Here is a useful summary guide on doing insurance business with Canada Life amidst the pandemic: relaxed underwriting, return of paramedial services, non-face-to-face processing and more:

Your complete guide to doing Canada Life insurance business

Brush up on your non-face-to-face business practices by joining the following webinar :

Time & Date: 10 to 11am PST, Thursday, June 25

Join the webinar

Contact Carol Ng at Carol.Ng@CanadaLife.com or (604)377-7203, or Hinris Chan at Hinris.Chan@canadalife.com or (604)443-8247 for any questions you may have.

Investment

DSC/LSC is no longer an option for leveraged investments – Any application disclosing a leveraged investment with a DSC/LSC purchase option, received on or after July 6^th, 2020, will be returned to the advisor for selection of an alternative option.

Contact Richard Chen at richard.chen@canadalife.com or (604)338-6416, or Floria Song at floria.song@canadalife.com  or (604)331-2420 for any questions on the change.

Equitable Life

Please see the attached guidelines on approved e-signature procedures, including the programs allowed: EQ 1886 Signing Requirements

A summary of the temporary underwriting requirements during COVID-19 is also included here Evidence of Insurability Schedule – Underwriting Requirements (Temporary).

Ask Monica Zhang at mzhang@equitable.ca or (604)366-4314 for more information.

iA

Insurance

See the attached presentation file and Par Bonus material  from last week on Par Q&A and Sales Concepts. Some takeaways include:

• 0.25% Guaranteed Incentive for new contracts submitted for lifetime of the policy From June 8^th till Oct 31^st, 2020
• 5.75% dividend
• Min $25K coverage with initial high death benefit purchase competitivity
• Strong in Guaranteed Cash Values after 20 years
• Very competitive in Total Cash Values around retirement & life expectancy
• Strong ADO Room with stop and go flexibility without medical evidence
• EVO for online application with Instant Acceptance program
• CPB – Year 1 – additional 15%
• VIP case limits are the lowest – $5000 Annual Premium only
• Superior Risk Program applies to Par as well
• 7 reinsurers vs industry

Electronic delivery of insurance contracts is also now available.  Click here to find out more: https://covid-advisor.ia.ca/individual-insurance-electronic-contract-delivery-is-now-possible.

Remember, there are only 2 weeks left to the Spring Fling, and all business counts towards the CPB and additional 20% bonus this year!

Contact Rishu Bains at rishu.bains@ia.ca or (604)354-2711, or Michelle Kwan at Michelle.Kwan@ia.ca or (604)737-9154 for more info on the Par.

Investment

iA Virtual Summer Tour

Join Clément Gignac, Senior Vice-President and Chief Economist, on his new series of webinars with weekly special guests every Thursday at 8am which run until August 13^th.

Webinar #2: Dividend investing in uncertain times

Time & Date: 8 to 8:30am PST, Thursday, June 25^th

Guest: Donny Moss, CFA, Senior Portfolio Manager, North American Equities, iAIM

Join Meeting

Upcoming Virtual Trainings

Role Play 2nd Solution and Closing – 11 Coding of Property Tax (#1 Legacy Transfer) – Simon Mok

11am, Wednesday, June 24^th

\

See what top sales, Simon Mok, has to share with you this month on creating needs for clients and closing the sale.

Click on the link below to join:

meet.google.com/qyi-hbne-oms

Mandatory (attendance required): 2nd Quarter Compliance Update — Stephen Lai

2:30pm, Wednesday, June 24^th     

As part of this mandatory compliance training, you will learn new changes and requirements to the industry, as well as how to use available tools to sustain your business.

Click on the link below to join:

meet.google.com/orw-fwgo-wzz

Capital Markets Strategy (Part 2) — ML Stefan Goddard

11am, Friday, June 26^th

Learn how to follow up with your clients after the recent client webinar to immediately close new business and share insights from the capital markets strategies.

Click on the link below to join:

https://manulife-johnhancock.zoom.us/j/2025726491

Events Schedule – July (Updated)

The updated Events Schedule for July is attached for your reference.

Best regards,

Administration Department

“The WAY to connect people. The WAY to drive business.”

Way Financial Inc.

Tel:  (1) 604 279 0866

Fax: (1) 604 278 0133

www.wayfinancial.ca

2nd Floor, 8171 Ackroyd Road

Richmond, BC V6X 3K1

This e-mail (including any attachments) is confidential and may contain proprietary information of Way Financial Inc. It may be privileged or otherwise protected from disclosure.

If you are not the intended recipient, please notify the sender immediately by return e-mail, and then delete the e-mail from your system. Any disclosure, dissemination, distribution or copying of this e-mail is strictly prohibited.

Dear Members,

The weekly bulletin informs members recent initiatives, campaigns and more, so check it consistently to stay up-to-date with ways to grow your business.

Carrier Updates

Allianz

As travel plans for clients may be resuming, stay up-to-date on travel insurance plans brought to you by Allianz with the following webinars:

10am, Wednesday, June 17th

Register here: https://agacanada.webex.com/agacanada/onstage/g.php?MTID=e46eb651d40aa4a26c49f464dbf236ed3

1pm, Thursday, June 18th

Register here: https://agacanada.webex.com/agacanada/onstage/g.php?MTID=ef7069f56c041ef99ade025441dc40041

Click here or ask Judi Kjartansson at (778)834-4282 or judi.kjartansson@allianz-assistance.ca for more details.

Canada Life

iA

Insurance

iA announced resumption of paramedical services with details found here https://covid-advisor.ia.ca/paramedical-service-providers-resume-appointments-for-medical-testing and highlights below:

• Pending medical orders: The priority will be offered to clients with pending medical orders (since March). Every pending cases will automatically be taken over by the providers, without the intervention of the Financial Security Advisor.
• New medical orders: For new cases, the process remains the same as before.

Also see attached more materials on the new Par, including the life time bonus of +0.25%.  A separate e-mail will follow providing Members with an e-mail template to send to your network on utilizing this Launch Promotion to generate immediate interest and business.

And don’t forget about the door-opener of Acci7 – use the below as a message, social media post, etc to start talking to more clients:

7 days. ? This is the average length of stay in Canadian hospitals.

7 minutes. ? This is the maximum length of time it takes to purchase the Acci7 PLUS hospital allowance insurance, which provides significant compensation in the event you are hospitalized.

This coverage provides financial protection in case you are hospitalized because of an illness or accident.

? No medical exam

✅ Instant acceptance

Contact me to learn more!

Remember, there are only 3 weeks left to the Spring Fling, and all Par business counts towards the CPB and additional 20% bonus this year!  See the attached CPB poster on extra sponsorships on marketing and advisor’s education.

Contact Rishu Bains at rishu.bains@ia.ca or (604)354-2711, or Michelle Kwan at Michelle.Kwan@ia.ca or (604)737-9154 for more info on the Par and Jackie Singzon at jacqueline.singzon@ia.ca or (604)220-7692 and Danielle Fairbank danielle.fairbank@ia.ca or (778)886-8492 for info on living benefits including Acci7.

Investment

Manulife

Further to the client webinar hosted by District Vice President Stefan Goddard exclusively for Way advisors’ clients, we will be sending the presentation file and recording to those members who attended. For those who missed the session and are interested in getting the files, please let Administration Department know.

Upcoming Virtual Trainings

Canada Life Days

9:30am, Wednesday, June 17^th

Attend the sessions most relevant to your practice and earn continuing education (CE) credits.

Register below in advance:

https://onlinexperiences.com/scripts/Server.nxp?LASCmd=AI:4;F:APIUTILS!51004&PageID=32D843DF-1E4E-4175-BD49-CF79146277D2

Par Q&A and Sales Concepts — IA Rishu Bains & Jackie Singzon

11am, Friday, June 19^th   

Join the Q&A and concept session on iA’s new PAR product.

Click on the link below to join:

https://us02web.zoom.us/j/81131307858?pwd=cjNjOFFhREpPL3BJRzNmaDFualljdz09

News from the Insurance Council of British Columbia

ICBC is seeking input from you to provide feedback through an online survey to the members of Council as they consider adopting new Continuing Education guidelines for implementation in 2021.

Current and proposed guidelines can be viewed here.

The survey takes just 10 minutes to complete and all responses are anonymous. You can access the survey here. The last day to complete the survey is Friday, July 17^th, 2020.

You can also provide feedback via email to consultation@insurancecouncilofbc.com up until the end of July.

See more information on the proposed guidelines here: consultation website.

Events Schedule – July

The Events Schedule for July is attached for your reference.

Best regards,

Administration Department

“The WAY to connect people. The WAY to drive business.”

Way Financial Inc.

Tel:  (1) 604 279 0866

Fax: (1) 604 278 0133

www.wayfinancial.ca

2nd Floor, 8171 Ackroyd Road

Richmond, BC V6X 3K1

This e-mail (including any attachments) is confidential and may contain proprietary information of Way Financial Inc. It may be privileged or otherwise protected from disclosure.

If you are not the intended recipient, please notify the sender immediately by return e-mail, and then delete the e-mail from your system. Any disclosure, dissemination, distribution or copying of this e-mail is strictly prohibited.

Dear Members,

The weekly bulletin informs members recent initiatives, campaigns and more, so check it consistently to stay up-to-date with ways to grow your business.

Carrier Updates

Allianz

As travel plans for clients may be resuming, stay up-to-date on travel insurance plans brought to you by Allianz with the following webinars:

10am, Wednesday, June 17th

Register here: https://agacanada.webex.com/agacanada/onstage/g.php?MTID=e46eb651d40aa4a26c49f464dbf236ed3

1pm, Thursday, June 18th

Register here: https://agacanada.webex.com/agacanada/onstage/g.php?MTID=ef7069f56c041ef99ade025441dc40041

Click here or ask Judi Kjartansson at (778)834-4282 or judi.kjartansson@allianz-assistance.ca for more details.

Canada Life

iA

Insurance

iA announced resumption of paramedical services with details found here https://covid-advisor.ia.ca/paramedical-service-providers-resume-appointments-for-medical-testing and highlights below:

• Pending medical orders: The priority will be offered to clients with pending medical orders (since March). Every pending cases will automatically be taken over by the providers, without the intervention of the Financial Security Advisor.
• New medical orders: For new cases, the process remains the same as before.

Also see attached more materials on the new Par, including the life time bonus of +0.25%.  A separate e-mail will follow providing Members with an e-mail template to send to your network on utilizing this Launch Promotion to generate immediate interest and business.

And don’t forget about the door-opener of Acci7 – use the below as a message, social media post, etc to start talking to more clients:

7 days. ? This is the average length of stay in Canadian hospitals.

7 minutes. ? This is the maximum length of time it takes to purchase the Acci7 PLUS hospital allowance insurance, which provides significant compensation in the event you are hospitalized.

This coverage provides financial protection in case you are hospitalized because of an illness or accident.

? No medical exam

✅ Instant acceptance

Contact me to learn more!

Remember, there are only 3 weeks left to the Spring Fling, and all Par business counts towards the CPB and additional 20% bonus this year!  See the attached CPB poster on extra sponsorships on marketing and advisor’s education.

Contact Rishu Bains at rishu.bains@ia.ca or (604)354-2711, or Michelle Kwan at Michelle.Kwan@ia.ca or (604)737-9154 for more info on the Par and Jackie Singzon at jacqueline.singzon@ia.ca or (604)220-7692 and Danielle Fairbank danielle.fairbank@ia.ca or (778)886-8492 for info on living benefits including Acci7.

Investment

Manulife

Further to the client webinar hosted by District Vice President Stefan Goddard exclusively for Way advisors’ clients, we will be sending the presentation file and recording to those members who attended. For those who missed the session and are interested in getting the files, please let Administration Department know.

Upcoming Virtual Trainings

Canada Life Days

9:30am, Wednesday, June 17^th

Attend the sessions most relevant to your practice and earn continuing education (CE) credits.

Register below in advance:

https://onlinexperiences.com/scripts/Server.nxp?LASCmd=AI:4;F:APIUTILS!51004&PageID=32D843DF-1E4E-4175-BD49-CF79146277D2

Par Q&A and Sales Concepts — IA Rishu Bains & Jackie Singzon

11am, Friday, June 19^th   

Join the Q&A and concept session on iA’s new PAR product.

Click on the link below to join:

https://us02web.zoom.us/j/81131307858?pwd=cjNjOFFhREpPL3BJRzNmaDFualljdz09

News from the Insurance Council of British Columbia

ICBC is seeking input from you to provide feedback through an online survey to the members of Council as they consider adopting new Continuing Education guidelines for implementation in 2021.

Current and proposed guidelines can be viewed here.

The survey takes just 10 minutes to complete and all responses are anonymous. You can access the survey here. The last day to complete the survey is Friday, July 17^th, 2020.

You can also provide feedback via email to consultation@insurancecouncilofbc.com up until the end of July.

See more information on the proposed guidelines here: consultation website.

Events Schedule – July

The Events Schedule for July is attached for your reference.

Best regards,

Administration Department

“The WAY to connect people. The WAY to drive business.”

Way Financial Inc.

Tel:  (1) 604 279 0866

Fax: (1) 604 278 0133

www.wayfinancial.ca

2nd Floor, 8171 Ackroyd Road

Richmond, BC V6X 3K1

This e-mail (including any attachments) is confidential and may contain proprietary information of Way Financial Inc. It may be privileged or otherwise protected from disclosure.

If you are not the intended recipient, please notify the sender immediately by return e-mail, and then delete the e-mail from your system. Any disclosure, dissemination, distribution or copying of this e-mail is strictly prohibited.

Dear Members,

The weekly bulletin informs members recent initiatives, campaigns and more, so check it consistently to stay up-to-date with ways to grow your business.

Virtual Client Events                    

2 to 6 Ways of Property Tax Coding

Time & Date: 10:55 am, Saturday, June 6^th

Language: Mandarin

Time & Date: 1:55 pm, Saturday, June 6^th

Language: Cantonese

7 to 11 Ways of Property Tax Coding

Time & Date: 10:55 am, Thursday, June 18^th

Language: Mandarin

Time & Date: 1:55 pm, Thursday, June 18^th

Language: Cantonese

Speaker: Global Life & Wealth

Global Life & Wealth hosts a series of webinars for clients including Crisis Rebound Investment Secret Manual, RRSP Mistakes & Solutions amongst others. Contact Theresa Lai at 604-278-0122 (ext. 105) or theresa.lai@grandtag.ca for more details on how to participate and share the resource with your clients.

Manulife Market Update for Way Advisors’ Clients

Time & Date: 11 am, Thursday, June 11^th

Language: English

Speaker: Stefan Goddard, District Vice-President, Manulife Investment

As you already know, these events are organized exclusively for Way Advisors’ clients.  This is a good chance for your clients and prospects to appreciate your professional support in managing their finances while staying connected with them during these unprecedented times.  Do also to ask them to extend the invitation to their family and friends to bring you referrals.

The webinar zoom link and password have already been added to your calendars. Start gauging your network’s interest to utilize this initiative to generate immediate business:

• New investment plans
• Transfer existing investments to your management
• Referral business

iA Spring Fling Contest

Let’s win some extra $$$ from iA’s Spring Contest, which is exclusive to Way Members!  Only 5 more weeks to go!

Carrier Updates

Canada Life

Business-owned insurance applications are now available on SimpleProtect!

Join the webinar this Thursday at 10am to learn how to submit corporate applications using SimpleProtect:

Also listen to Canada Life’s weekly call audio recording on the additional resources available during this time.  Last week, Senior Vice-President, Independent Distribution and Wholesaling Mike Cunneen moderated an advisor panel that discussed non-face-to-face interactions and how this shift to working digitally will benefit their business going forward. A common theme between the panelists is they’ve each taken the time to check in with their client’s mental well-being which they’ve found naturally opens the conversation to talk about their financial plans that can be supported through the products we offer.

https://onlinexperiences.com/Launch/Event/ShowKey=91867

iA

See the attached presentation from last week on Life Business and Benefits for Advisors (New Par, CPB, etc.).

Some highlights include:

1. Life Limits without vitals/fluids:

• Life Non Face to Face limits max – $5million
• Age 50 & below: $1million
• Age 50 to 61: $300,000
• Age 61 above:  $99,999
• For large cases, the face amounts are $3million & + or $50K premiums – paramedicals allowed via ExamOne and Medifast

1. iA Superior Risk Tolerance Program will reduce rating for your clients.
2. Additional PDFs are attached for your reference : iA Access Life – Prequestionnaire, iA Genesis Brochure YRT, iA Life Heath Duo – Marketing, iA Mortgage Package & iA Superior Risk Tolerance Program.

Contact Rishu Bains (Life Insurance) at rishu.bains@ia.ca or (604)354-2711 or Jackie Singzon (Living Benefits) at jacqueline.singzon@ia.ca or (604)220-7692 for more details.

iA’s NEW PAR LAUNCH

Members on Way’s platform will be getting an advance preview on iA’s new Par this Wednesday afternoon (2:30pm on June 3^rd).  Also register for the national virtual launch on June 8^th  below.

Join us to see what new business opportunity this latest product can offer and how it will certainly help you achieve the additional 20% FYB bonus easier!

EXCLUSIVE

VIRTUAL LAUNCH

June 8 at 10 AM PST

Hosts Ken Godfray and Kevin Miller, Regional Vice-Presidents

Connection Campaign 2020 – Earn Extra 5% FYC Bonus on Your Business with Every New Connection

While the current situation gives you the opportunity to outshine your competitors and showcase to your clients your continuous support to their financial well-being, it is also the time to connect your external broker network and share with them the different resources you have from the Platform – marketing support, client events, unique trainings, exclusive campaigns, knowledgeable processing, etc., and get additional rewards for your connections!

Upcoming Virtual Trainings

Special Advance Launch of iA New PAR with Way Financial — iA Rishu Bains & Michelle Kwan

2:30pm, Wednesday, June 3^rd  

Join iA’s pre-launch of its New Par Whole Life product with software demo.

Click on the link below to join:

https://us02web.zoom.us/j/85153821120?pwd=a0p0V1BGMzhxSjJqdlhsbmExTlpUdz09

Why Equimax Wealth Accumulator — EQ Monica Zhang

11am, Friday, June 5^th  

Click on the link below to join:

Join Microsoft Teams Meeting

Events Schedule – June (Updated)

The updated Events Schedule for June is attached for your reference.

Holiday Notice

Please note that our office will be closed on:

Wednesday, July 1^st, 2020   (Canada day)

Normal operations will resume on:

Thursday, July 2^nd, 2020   

Best regards,

Administration Department

“The WAY to connect people. The WAY to drive business.”

Way Financial Inc.

Tel:  (1) 604 279 0866

Fax: (1) 604 278 0133

www.wayfinancial.ca

2nd Floor, 8171 Ackroyd Road

Richmond, BC V6X 3K1

This e-mail (including any attachments) is confidential and may contain proprietary information of Way Financial Inc. It may be privileged or otherwise protected from disclosure.

If you are not the intended recipient, please notify the sender immediately by return e-mail, and then delete the e-mail from your system. Any disclosure, dissemination, distribution or copying of this e-mail is strictly prohibited.

Dear Members,

The weekly bulletin informs members recent initiatives, campaigns and more, so check it consistently to stay up-to-date with ways to grow your business.

Virtual Client Events                    

2 to 6 Ways of Property Tax Coding

Time & Date: 10:55 am, Saturday, June 6^th

Language: Mandarin

Time & Date: 1:55 pm, Saturday, June 6^th

Language: Cantonese

Speaker: Global Life & Wealth

Global Life & Wealth hosts a series of webinars for clients including Crisis Rebound Investment Secret Manual, RRSP Mistakes & Solutions amongst others. Contact Theresa Lai at 604-278-0122 (ext. 105) or theresa.lai@grandtag.ca for more details on how to participate and share the resource with your clients.

Manulife Market Update for Way Advisors’ Clients

Time & Date: 11 am, Thursday, June 11^th

Language: English

Speaker: Stefan Goddard, District Vice-President, Manulife Investment

As you already know, these events are organized exclusively for Way Advisors’ clients.  This is a good chance for your clients and prospects to appreciate your professional support in managing their finances while staying connected with them during these unprecedented times.  Do also to ask them to extend the invitation to their family and friends to bring you referrals.

The webinar zoom link and password will be available shortly. Start gauging your network’s interest to utilize this initiative to generate immediate business:

• New investment plans
• Transfer existing investments to your management
• Referral business

IA Spring Fling Contest

Let’s win some extra $$$ from iA’s Spring Contest, which is exclusive to Way Members!  Only 6 more weeks to go!

Carrier Updates

Canada Life

Insurance

Check out the new illustration (4.3) effective May 25^th, 2020 and download it from the page here: Concourse Direct (see page 1 for the link to the illustration program).

Contact wholesaler, Carol Ng at Carol.Ng@CanadaLife.com or (604)377-7203, or internal wholesaler, Hinris Chan at Hinris.Chan@canadalife.com or (604)443-8247 for more details.

Investment

Further to members’ request on last Wednesday’s training presentation, attached are the files for your reference.  Wholesaler Richard Chen can be reached at richard.chen@canadalife.com or ((604)338-6416 if you have any questions.

IA

IA will be launching its own PAR on June 8^th and advisors on Way’s platform will be getting an advance preview on its details next week, on June 3^rd.  Your schedules have been marked so join us to see what new business opportunity this latest product can offer.  Also please be reminded that the new product will certainly help you achieve the additional 20% FYB bonus easier!

Upcoming Virtual Trainings

Role Play 1st Coding and Fact Find – 11 Coding of Property Tax (#1 Legacy Transfer) – Simon Mok

11am, Wednesday, May 27^th 

See what top sales, Simon Mok, has to share with you this month on creating needsfor clients and closing the sale.

Click on the link below to join:

meet.google.com/gxz-uoxn-gqn

Life Business and Benefits for Advisors (New Par, CPB, etc.) — IA Rishu Bains

11am, Friday, May 29^th 

Click on below to join:

Join Microsoft Teams Meeting

News from the Insurance Council of British Columbia

Last week to renew your license without penalty!

Send admin@wayfinancial.ca a copy of your renewed license to have it distributed to the relevant carriers to ensure your business processing and compensation payments carry on without interruption.  Do not send us the payment receipt as carriers do not accept this as a record of your renewed license.

The filing fee for this year is $225 (including government fee). After June 1^st, all filings received will be subject to a late fee ($200) for a total of $425.

Please be aware that any licenses not renewed via annual filing by July 31^st, 2020, will be terminated automatically for non-filing.

How to File

You can complete your filing online at insurancecouncilofbc.com/annualfiling.

Filing consists of:

1. Completing your filing declaration
2. Remitting the annual filing fee

See Filing Instructions.

Deadline to Complete Continuing Education Extended

The deadline for Insurance Council licensees to complete annual continuing education (CE) requirements for 2020 has been extended to the following year, May 31^st, 2021. Licensees will still need to complete annual filing for this year by June 1, 2020 even if you haven’t completed your CE credits yet.

Go to the Council’s website for more information on the extension, including a Q&A.

CE Records: Your License, Your Responsibility

Licensees are required to keep a record of their continuing education (CE) for five years and make sure to keep a copy of your course completion certificates and course content information. If you are audited by the Insurance Council, you will be asked to provide your records at that time. Ultimately, it is the licensee’s responsibility to demonstrate that they have met the CE requirements for their license if audited.

For questions about how many CE credits you are required to complete annually, or what qualifies as technical content, visit ICBC website for more information.

Disciplinary Decisions

Jennifer Wai Yin Mok, a former licensee, was disciplined for contravening the Insurance Council’s Rules and Code of Conduct by falsifying insurance applications and placing policies with intent to cancel. The former licensee was found to have failed to act with competence, trustworthiness, in good faith, and in the usual practice of dealing with clients, and also failed to deal with the Insurance Council in a prompt and honest manner. The former licensee was fined $5,000 and assessed investigative costs of $4,187.50. Further, Council will not consider any further licensing applications from the former licensee until the fine and investigation costs are fully paid.

Best regards,

Administration Department

“The WAY to connect people. The WAY to drive business.”

Way Financial Inc.

Tel:  (1) 604 279 0866

Fax: (1) 604 278 0133

www.wayfinancial.ca

2nd Floor, 8171 Ackroyd Road

Richmond, BC V6X 3K1

This e-mail (including any attachments) is confidential and may contain proprietary information of Way Financial Inc. It may be privileged or otherwise protected from disclosure.

If you are not the intended recipient, please notify the sender immediately by return e-mail, and then delete the e-mail from your system. Any disclosure, dissemination, distribution or copying of this e-mail is strictly prohibited.

Dear Members,

The weekly bulletin informs members recent initiatives, campaigns and more, so check it consistently to stay up-to-date with ways to grow your business.

COVID-19 Update

It is encouraging to hear from our provincial government on the progress in halting the spread of COVID-19.  Everyone should continue maintaining high level of personal hygiene and be mindful of the following when you enter the office:

• Sanitize your hands and put on a face mask;
• Keep a good distance when communicating with each other in person; and
• Ask your visitors to do the same above.

Our Processing and Accounting teams remain in full-day service while training sessions and client seminars are convened virtually.

Send us an e-mail for any enquiry or request you may have:

• • process@wayfinancial.ca (for business related matters)
  • account@wayfinancial.ca (for compensation related matters)
  • admin@wayfinancial.ca (for licensing, E&O and other matters)

We will be following the Government’s advice over the next few weeks and inform you when in-person sessions such as training will reconvene.  Let’s continue our efforts to keep this virus at bay.

Carriers Updates

iA

iA has confirmed that ExamOne will do paramedical for life cases greater than $3M or $50K minimum premium or CI cases greater than $1M with iA.  This means you can still offer larger coverage for your clients now and not need to wait.

Contact Rishu Bains at rishu.bains@ia.ca or (604)354-2711 or Jackie Singzon at jacqueline.singzon@ia.ca or (604)220-7692 for more details.

Canada Life

Canada Life is introducing the New CI Term 20, which is available from May 25^th onwards, to give your clients more options and flexibility to satisfy their needs in different stage of lives, up to $3M. Your clients can convert from CI T10 to T20, and CI T20 can convert to designated Level Premium Term to age 75 or Permanent Level paid up at age 100 plan.

At the same time, LifeAdvance CI will also be repriced, with price decrease for Term 10 and Level Premium Term to age 75, and price increase for the rest of the plans.

Concourse 4.3 will be ready for download in RepNet on May 25^th, 2020 to reflect the new features and rates.

So submit your e-app by day-end on May 24^th and send your new business package to Processing Department on May 25^th to make use of the existing premiums schedule.

The attached PDF CL T20 Product & Repricing will give you more information and feel free to contact Carol Ng at Carol.Ng@CanadaLife.com or (604)377-7203 or Hinris Chan at Hinris.Chan@canadalife.com or (604)443-8247 if you have further questions.

In addition, see CL’s updated dividend scale effective July 1, 2020 here: 2020 dividend scale announcement page

Sunlife

Sunlife is accelerating the roll-out of its e-App.  To help you get ready, check out the Welcome Package here, which includes:

• How-to videos showing the Sun eApp in action
• Highlights of Sun eApp’s many features
• Instructions on how to get access

Contact Viola Lam at Viola.Lam@sunlife.com or (604)417-0791 for more details.

Business Processing Updates

Policy E-Delivery

Given the various updates by carriers on new e-delivery of insurance policies, here is a quick summary for your reference:

Canada Life

• An e-version of the policy along with delivery documents is available on your Repent NBN around 3 days upon underwriting approval.
• Send signed documents to the Office for policy placing as per usual.

Equitable Life

• Advisor will receive an e-mail directly on e-policy and will sign in to e-sign, after which the document will be sent to their clients to e-sign.
• Download copy of delivery receipt signed by both advisor and client and send to the Office.

iA

• Client will receive e-mail from Carrier directly on issuance of policy.  Advisor will be copied in the correspondence and is expected to go through the message with their client.
• No signatures required so forward the e-mail to the Office in the case the Carrier missed sending process@wayfinancial.ca in the original e-mail notification.

New Business Submission

Please remember existing new business processing guidelines (submission with compliance package) remain unchanged.  A policy delivery without the new business package or relevant documents is not compliant and Processing Team will give the member a deadline to submit the required documents, after which all processing for the member’s business can only be halted until compliant requirements are satisfied.

For members using existing and still valid compliance documents, please indicate note “reusing CP” along with your new business package or e-mail so Processing Team will not deem those documents as outstanding and hold your business processing.

Feel free to reach out to the Processing Team for any question.

Compliance Rules and Regulations – Guidelines on Rebating

This is a friendly reminder of the current guidelines on rebating.

Financial Institutions Act

Part 3, Division 4, Section 79 (1) :

Rebates of premiums prohibited

A person, in relation to the sale of insurance, must not, directly or indirectly, pay or allow, or offer or agree to pay or allow, a rebate of premium or part of it or other consideration or thing of value intended to be a rebate of premium, unless the rebate of premium is less than a prescribed amount or percentage.

It is further interpreted in Section 2 of the Marketing of Financial Products Regulation in the Financial Institutions Act that:

Permitted rebate of premium

For the purposes of section 79 (1) of the Act, a rebate of premium must be less than 25% of the premium.

The BC Financial Services Authority has a more clear explanation that rebating is permitted as long as the amount being rebated is less than 25% of the first year gross premium only.

Members should adhere to these guidelines and ask Stephen Lai if you have any question at stephen.lai@wayfinancial.ca or (604)279-0866 ext.114.

Upcoming Virtual Trainings

Market Updates — CL Richard Chen

10am, Wednesday, May 20^th 

Join Richard’s presentation on the latest market updates.

Click on the link below to join:

Join Microsoft Teams Meeting

Business Management on Group Plan vs My HSA. Which One is Better? — Stephen Lai

11am, Wednesday, May 20^th 

Come learn how efficient business operations can enhance your business volume and compensation.

Part 1 – Introduction to myHSA by Tim Kane

Click on the link below to join part 1:

https://us02web.zoom.us/j/2681527669

Part 2 – Introduction to Group Benefits and comparison of the 2 different plans by Stephen Lai

Click on the link below to join part 2:

meet.google.com/hcz-tqkh-uyt

Impact of COVID-19 to Group Benefits and How to Manage Renewals — CL Jason Yang

11am, Friday, May 22^nd 

Learn about the impact of COVID-19 to group benefits and renewal management.

Click on the link below to join:

https://teams.microsoft.com/l/meetup-join/19%3ameeting_NWE2NzFmM2QtZGNkNS00YzFhLWEzM2MtODU4YmQ4OWMyNzRi%40thread.v2/0?context=%7b%22Tid%22%3a%22633f3069-d670-4419-9fee-2ab4251c88ee%22%2c%22Oid%22%3a%222dcbb71c-9f6a-47e6-b50b-e4ca2599c411%22%7d

Insurance Council License Renewal Deadline Soon

The June 1^st deadline for renewing your license is fast approaching.  Send admin@wayfinancial.ca a copy of your renewed license to have it distributed to the relevant carriers to ensure your business processing and compensation payments carry on without interruption.  Do not send us the payment receipt as carriers do not accept this as a record of your renewed license.

The filing fee for this year is $225 (including government fee). After June 1^st, all filings received will be subject to a late fee ($200) for a total of $425.

Please be aware that any licenses not renewed via annual filing by July 31^st, 2020, will be terminated automatically for non-filing.

How to File

You can complete your filing online at insurancecouncilofbc.com/annualfiling.

Filing consists of:

1. Completing your filing declaration
2. Remitting the annual filing fee

See Filing Instructions.

Deadline to Complete Continuing Education Extended

The deadline for Insurance Council licensees to complete annual continuing education (CE) requirements for 2020 has been extended to the following year, May 31^st, 2021. Licensees will still need to complete annual filing for this year by June 1, 2020 even if you haven’t completed your CE credits yet.

Go to the Council’s website for more information on the extension, including a Q&A.

Events Schedule – June

The Events Schedule for June is attached for your reference.

Dear Members,

The weekly bulletin informs members recent initiatives, campaigns and more, so check it consistently to stay up-to-date with ways to grow your business.

Virtual Client Events

Market Update Webinars

Given the enthusiasm received from last week webinar hosted by RBCI exclusively for Way advisors’ clients, we will arrange more similar events in the future to members who have shown commitment to their business development.  Materials from last week’s event including presentation and information of clients who attended will be distributed to the relevant advisors shortly.

Reach out to Administration Department at admin@wayfinancial.ca to indicate your interest and you will be placed in a priority sequence for these exclusive events!

11 Ways of Property Tax Coding

Time & Date: 10:55 am, Thursday, May 14^th

Language: Mandarin

Time & Date: 1:55 pm, Thursday, May 14^th

Language: Cantonese

Speaker: Global Life & Wealth

Global Life & Wealth hosts a series of webinars for clients including Crisis Rebound Investment Secret Manual, RRSP Mistakes & Solutions amongst others. Contact Theresa Lai at 604-278-0122 (ext. 105) or theresa.lai@grandtag.ca for more details on how to participate and share the resource with your clients.

Getting More New Business and Referrals by making use of COVID-19

In link with the YouTube client webinar this week (mentioned above), refer to the text templates for Property Tax Deferment Program Promotion in three languages below on making it easy to connect with your clients to help you generate new business and referrals.

Send the following text templates to your clients:

1. Hi XXX, the news just came out on the poor real estate market sales last month due to COVID-19 and property owners are soon facing the annual property tax burden.  Did you know there are government programs that can help alleviate this stress?  There’s no income or property restrictions; you just need to be the owner.  As these programs tend to have deadlines, you should contact (advisor’s name & contact info) on how to utilize them for immediate and long-term purposes.  There’s also a YouTube channel with Live Webinars on this – ask (advisor’s name) for the link.  Please also send this to family and friends to help them during these difficult times.
2. XXX 你好,在這新冠肺炎肆虐期間, 民生受困，業主更是雪上加霜，政府已推出各項操施。年度地稅也有省級政府援助計劃，無最高收入或房屋價格限制，但必須是自主物業。好多政府計劃都有限期，假如你還不清楚如何申請地稅計劃作長中短的用途，就應立刻訂閲YouTube三千位免費“財稅人生地稅計劃”直播 或諮詢(顧問名字和聯係方式)。請將這訊息轉發給你關心的親友,讓他們亦獲得援助。
3. XXX 您好，在这新冠肺炎肆虐期间， 民生受困，业主更是雪上加霜，政府已推出各项操施。  年度地税也有省级政府援助计划，无最高收入或房屋价格限制，但必须是自主物业。 好多政府计划都有限期，假如您还不清楚如何申请地税计划作长中短的用途，就应立刻订阅YouTube三千位免费”财税人生地税计划”直播 或咨询 (顾问名字和联系方式)。请将这讯息转发给您关心的亲友，让他们亦获得援助。

Carriers Updates

Canada Life

Canada Life has provided a Chinese translation of the medical history questionnaire for easy reference on different medical terms.  See the attached CL Medical History Questionnaire CH to better assist your clients.

Equitable Life

Equitable Life has announced that its current dividend scale interest rate will remain unchanged at 6.2% for the period July 1^st, 2020 to June 30^th, 2021.

Click here for more details: https://advisor.equitable.ca/advisor/getattachment/f9d6b642-98d4-408c-974e-623f2c86628c/1292-Advisor-2020-dividend-notice.pdf?mc_cid=69054d34ff&mc_eid=455db21731

IA

See the attached presentation from last month on EVO, iA’s sweet spots, and comparison with competitors: iA CI & Life Launch.

Some highlights include:

1. Critical illness limits without paramedical:

• Age 50 and below: $199,999
• Age 50 and above: $99,999

1. Can create a Mortgage Package of Life, Credit Disability Rider (mortgage/rent DI coverage) and CI in one application.
2. Additional PDFs are attached for your reference : iA Access Life – Product Summary, iA Acci 7 Plus – Product Summary & iA Mortgage Package.

Advisors may use online needs analysis (https://ia.ca/life-insurance-calculator#calc) and premium calculator (https://inalco.premium-calculator.ca/) to find out how much you and your clients need for life insurance.

Click here to download the latest Evo Software interface suite: https://iaa.secureweb.inalco.com/MKMWPN23/Evo

Manulife

Here is a Mandarin second training recording on Manulife’s e-process and underwriting changes presented by Chris Chang for your reference: AMU Session 2 – Manulife Par and Living Benefits

Chris can be reached at chris_chang@manulife.com or (604)355-4879 for more details.

IA New Business Campaigns

We are pleased to announce that Darren Ng and Grace Zhu are already getting points and ballots to the top prize and raffle draws from the first week of the IA Spring Fling – there are 8 weeks left. Others including Carmen Ke, Patrick Ng and Wilson Ng are also on track to their CPB additional 20% FYC bonus!

Let’s all continue this roadmap to the additional rewards, which is exclusive to Way Members!

Connection Campaign 2020 – Earn Extra 5% FYC Bonus on Your Business with Every New Connection

While the current situation gives you the opportunity to outshine your competitors and showcase to your clients your continuous support to their financial well-being, it is also the time to connect your external broker network and share with them the different resources you have from the Platform – marketing support, client events, unique trainings, exclusive campaigns, knowledgeable processing, etc., and get additional rewards for your connections!

Upcoming Virtual Trainings

Real Life Case Studies: How to Handle Property Tax Deferment Selling Concept Objections? — COT Carmen Ke

11am, Wednesday, May 13^th   

Learn from the best and have COT Carmen Ke help you increase your closing rate and teach you tactics in dealing with different clienteles.

Click on the link below to join:

https://meet.google.com/juy-ffdt-uud

Put on Your 3D glasses, How Synergy May Work as a Complete Solution — ML Chris Chang

11am, Friday, May 15^th   

Find out how the Synergy Plan can be an opportunity for your businesses.

Click on the link below to join:

https://meet.lync.com/manulife.ca/chris_chang/1SD6960G

Dear Members,

The weekly bulletin informs members recent initiatives, campaigns and more, so check it consistently to stay up-to-date with ways to grow your business.

Virtual Client Events

As previously mentioned, the Platform is supporting different virtual client events that members can utilize in connecting with clients and generating new referrals and business during this time.

These additional resources are provided to qualified members who have shown commitment to their own business development such as this week’s Webinar with Q&A on Market Updates hosted by RBCI exclusively for Way advisors’ clients. See more details below:

RBCI Market Update for Way Advisors’ Clients

Time & Date: 10 am, Thursday, May 7^th

Language: English

Speaker: Mike Jackson CFP, CLU, CIM, FMA, FCSI

Qualified members include recent winners of the RBC PAC Campaign as well as those who have done notable RBCI investment business. Ask Administration Department for details on how to participate and share the resource with your clients.

11 Ways of Property Tax Coding

Time & Date: 11 am, Thursday, May 14^th

Language: Mandarin

Time & Date: 2 pm, Thursday, May 14^th

Language: Cantonese

Speaker: Global Wealth Life

Global Wealth Life hosts a series of webinars for clients including Crisis Rebound Investment Secret Manual, RRSP Mistakes & Solutions amongst others. Contact Theresa Lai at 604-278-0122 (ext. 105) or theresa.lai@grandtag.ca for more details on how to participate and share the resource with your clients.

Tailormade Training Series for Closing Corporate Cases

Some of you may have already received an invitation to participate in the 9-classes training series on doing business with corporate clients.  Please see the attached information on the Training Program:

1. Scaling Strategies to Generate Corporate Clients 200330
2. 9 Classes Scaling Strategies to Generate Corporate Clients – Training Schedule

Most advisors know clients with companies but have struggled to tap into their corporate business potential.  This is a special program to help such committed members close cases, win the Additional 20%+ FYC Bonus Campaign with iA AND the Spring Contest (details below), and open up new residual income channels.

Contact Stephen Lai at stephen.lai@wayfinancial.ca or (604) 279-0866 (ext. 114) to see what qualifications you need to sign up for these classes.

Carriers Updates

Canada Life

$2 million of life insurance without paramedicals

• CL will now underwrite up to $2,000,000 of life insurance without vitals or fluids for clients ages 18 to 40 and up to $1 million for ages 41 to 50.

Digital contract delivery from Canada Life is here.  Click here for the digital contract delivery training material to learn more.

Equitable Life

Revised guidelines for policy e-delivery:

Step 1 – When policy is approved, it will be emailed to advisor.  Advisor will use their Equitable Advisor Code to open the link containing all documents.

Step 2 – Advisor reviews policy and delivery requirements for accuracy.

Step 3 – Advisor electronically signs the package and it gets forwarded automatically to client’s email.

Step 4 – Advisor tells client an email has been sent and the client uses the policy # to open the link.

Step 5 – Client and advisor review package together.

Step 6 – Client uses e-signature to accept. Then both client and advisor can download/save the policy.  Advisor e-mails a PDF copy to Processing Team (process@wayfinancial.ca)

Step 7 – File is sent electronically to New Business Department for final action to settle policy.

Step 8 – E-payment

* Client pays annual premium by online-banking. Payee of online banking is “Equitable Life & CI”

* PAD for one-time withdrawal of annual premiums for $20,000 or more only

* EFT or wire transfer on exception basis only

Click here for more detailed instructions: https://advisor.equitable.ca/advisor/en/Individual-Insurance/Instruction-Page

Sunlife

See the attached presentation from last month on non-face-to-face process update: SL Non-Face-to-Face

Additional reference materials highlighting Sun Life Long Term Care and Retirement Health Assist are also attached for your reference: SL LTC Product Feature & SL RHA Product Feature.

To learn more about LTC/RHA or require help on cases, contact Renee Ho at renee.ho@sunlife.com or (604)657-9251 or Viola Lam at viola.Lam@sunlife.com or (604)417-0791.

IA Spring Fling Contest

Let’s win some extra $$$ from iA’s Spring Contest, which is exclusive to Way Members!  It runs from May 1st to July 3rd.

Additional 20% FYC Bonus Campaign for IA Business

The Hospitalization Benefits from Acci7-Plus also counts!

In midst of virus fears, a lot of clients has been initiating the request for life and health insurance coverage. Let’s all grasp this opportunity to earn an additional 20% FYC bonus this year!

Upcoming Virtual Trainings

Market Volatility and the Benefits of Segregated Funds for Different Types of Clients — RBC Mike Jackson

11am, Wednesday, May 6^th   

Listen to RBC’s presentation on why segregated funds are the best choice in the current market volatility.

Register in advanced for this webinar:

https://rbcteams.webex.com/rbcteams/onstage/g.php?MTID=e053f9e101cc71b95e6629680dead7435

Canada Life CI and Our Competitive Advantage — CL Patricia Carlos

11am, Friday, May 8^th   

See CL’s new CI enhancements for high net worth client and how it fits into different market segments.

Join Microsoft Teams Meeting

Insurance Council License Renewal Deadline Soon

The June 1^st deadline for renewing your license is fast approaching.  Send admin@wayfinancial.ca a copy of your renewed license to have it distributed to the relevant carriers to ensure your business processing and compensation payments carry on without interruption.  Do not send us the payment receipt as carriers do not accept this as a record of your renewed license.

The filing fee for this year is $225 (including government fee). After June 1^st, all filings received will be subject to a late fee ($200) for a total of $425.

Please be aware that any licenses not renewed via annual filing by July 31^st, 2020, will be terminated automatically for non-filing.

How to File

You can complete your filing online at insurancecouncilofbc.com/annualfiling.

Filing consists of:

1. Completing your filing declaration
2. Remitting the annual filing fee

See Filing Instructions.

Deadline to Complete Continuing Education Extended

The deadline for Insurance Council licensees to complete annual continuing education (CE) requirements for 2020 has been extended to the following year, May 31^st, 2021. Licensees will still need to complete annual filing for this year by June 1, 2020 even if you haven’t completed your CE credits yet.

Go to the Council’s website for more information on the extension, including a Q&A.

Holiday Notice

Please note that our office will be closed on:

Monday, May 18^th, 2020 (Victoria Day)

Normal operations will resume on:

Tuesday, May 19^th, 2020

Dear Members,

The weekly bulletin informs members recent initiatives, campaigns and more, so check it consistently to stay up-to-date with ways to grow your business.

How to Request for Fund Switches Accurately & Efficiently

This is a friendly reminder to members on how to submit requests for fund switches for accurate and efficient processing.

For cash accounts with Canada Life, iA, RBC, complete the attached “Fund Switch Request Template 190116”.

For cash accounts with Manulife, use the attached “ML Switch Form” (NN0827E).

For case accounts with Sun Life, use the attached “SL Order Ticket” (4160E)

For investment loans from B2B, use B2B’s own “Segregated Fund Trade Ticket” (100-03-021E) as attached.

For investment loans from Manulife Bank to Manulife Investment, use the same “ML Switch Form” (NN0827E) AND indicate “Investment Loan” on the top.

For investment loans from National Bank to Canada Life, use the attached “CL Change Form for switches” (46-5959).

E-mail your completed forms to Processing Team at process@wayfinancial.ca and indicate “Fund Switch” in your e-mail subject. Submissions before noon will be processed the same day.

Please ensure your submission is clear and that your client’s KYC is up-to-date (2 years’ validity) so Processing can complete your request without delay.

Carriers Updates

Assumption Life

Assumption accepts non-medical applications for clients up to age 65 for coverage up to $249,999 and may be an additional choice for some of your older clients.  See the attached AL Underwriting Requirements.

Canada Life

This may be a good time to reassure your clients the financial strengths of our partner carriers. Share the attached CL Financial Strengths to also highlight your continued service and support to your clients and their families during these unprecedented times.

Equitable Life

Additional Increase to Non-Med Coverage Limits

• Ages 51-55: Limits up to (and including) $300,000
• Ages 56-60: Limits up to (but not including) $100,000

Learn more about the updated Evidence of Insurability Schedule, how existing and new cases are being handled at https://advisor.equitable.ca/advisor/en/news/underwriting-updates-including-additional-changes .

Manulife

Here is a Mandarin training recording on Manulife’s e-process and underwriting changes presented by Chris Chang on April 17^th for your reference: AMU01_Apr_17_2020

Chris can be reached at chris_chang@manulife.com or (604)355-4879 for more details.

Upcoming Virtual Trainings

New Business Submission Contest: CII, Acci-7 & Life Sweet Spots – IA Rishu Bains

11am, Wednesday, April 29^th  

Rishu will be announcing an exciting new business submission contest where you get a chance to win with your case submissions. This is on top of the Additional 20% bonus for your annual production this year!

Click on the link to login at that time.

Join Microsoft Teams Meeting

Why Equimax Wealth Accumulator — EQ Monica Zhang

11am, Friday, May 1^st  

Don’t miss the presentation new EDO rules and maximum room change and other enhancement to the Par product.

Click on the link to login at that time.

https://teams.microsoft.com/dl/launcher/launcher.html?url=%2f_%23%2fl%2fmeetup-join%2f19%3ameeting_YTc4YWVjZmQtNmI3NS00OTgxLWI3Y2QtOTlhMWI1YzliMzZi%40thread.v2%2f0%3fcontext%3d%257b%2522Tid%2522%253a%25229cd2f3e0-1ada-4309-989f-cd551071902b%2522%252c%2522Oid%2522%253a%25220604481e-664b-4797-a117-4c8cf9b0cb5d%2522%257d%26anon%3dtrue&type=meetup-join&deeplinkId=feeb4756-8455-4f0d-91f8-fa01e08032bf&directDl=true&msLaunch=true&enableMobilePage=true&suppressPrompt=true

WeChat Groups

Check out the WeChat groups for instant message news and market updates by carriers, as well as the text templates to send to your clients on iA Acci-7 hospitalization benefits, RBC investment protection, and later on, Property Tax Deferral and more.

• Social Media & Event Development Group
• RBC Winners Group
• iA CPB 20%+ Bonus Qualifiers Group

News from the Insurance Council of British Columbia

Deadline to Complete Continuing Education Extended

The deadline for Insurance Council licensees to complete annual continuing education (CE) requirements for 2020 has been extended to the following year, May 31^st, 2021. Licensees will still need to complete annual filing for this year by June 1, 2020 even if you haven’t completed your CE credits yet.

Go to the Council’s website for more information on the extension, including a Q&A.

Disciplinary Decisions

Xueping Ji was disciplined for contravening the Insurance Council’s Rules requiring licensees to complete continuing education (CE) credit requirements. The licensee was found to have failed to complete the minimum CE credits required. The licensee was fined $3,000 and required to complete the Council Rules Course.

Dear Members,

The weekly bulletin informs members recent initiatives, campaigns and more, so check it consistently to stay up-to-date with ways to grow your business.

Carriers Updates

Canada Life

Group Benefits

Canada Life has announced temporary premium reductions for its group benefits plans: https://s3-us-west-2.amazonaws.com/assets.cl-toolkit.com/DMO/1-Emails/2020/DMO-5514/COVID-19-Premium-Adjustments-Advisor-Groupline-April-17.pdf?cid=eb%7CGroupBenefit%7CCL%20-%20GB%20Advisors%20-%20Premium%20Reduction%20Email%20-%20April%2017,%202020%7CDMO-5513

Here’s a brief summary:

• Dental: 50% premium reduction adjustment will be applied.
• Vision: 20% premium reduction adjustment will be applied.
• Healthcare (excluding drugs): 20% premium reduction adjustment will be applied.

IA

Distance-selling for Non-Registered contracts with more than $100,000 now available in EVO.

Total amount of the one-time contribution may be allocated as follows:

• Amount lower than $1,000,000 in investment funds
• Amount lower than $1,000,000 in Guaranteed Interest Funds
• Amount lower than $2,000,000 combined within the Daily Interest Fund+ and the High Interest Savings Account

Click on https://covid-advisor.ia.ca/non-reg-savings-plans-distance-selling-evo for more details.

RBC

RBC is requiring all deposits to be submitted via One-Time PAD (https://www.rbcinsurance.com/salesresourcecentre/file-848746.pdf) – so no cheque payments allowed.  Please see the attached “RBC Covid19 Update” for details.

The attached “RBC Wealthlink Enhancements” gives details on the recently added functions to WealthLink to help you manage business easier amidst COVID-19.

Additional 20% FYC Bonus Campaign for IA Business

In midst of virus fears, a lot of clients has been initiating the request for life and health insurance coverage. Let’s all grasp this opportunity to earn an additional 20% FYC bonus this year!  Join the webinar on Apr 29^th to learn more.

iA Business Tracker: Set-up now to not miss any information notifications on your business

As we have previously mentioned, iA will be launching a Business Tracker to help advisors do business easier.  Starting April 26^th, iA will directly send advisors notifications relating to new business submission, in-force policies, etc.  The Tracker will also let you know about business opportunities such as upcoming policy renewals or missing information for a new business and provide you with the relevant form to complete.

If you haven’t already done so, logon to Advisor Centre now to update your notification preferences so you won’t miss important messages on your business.  Sign in at ia.ca and click on the Business Tracker tab in the top to set your preferences.

Upcoming Virtual Trainings

Role Play 3rd Closing and Objection Handling – 3 RRSP mistakes and 9 solutions  (#8 Interest Deduction) – Simon Mok

11am, Wednesday, April 22^nd 

Click on the link below to see what top sales, Simon Mok, has to share with you this month on creating needs for clients and closing the sale.

https://us04web.zoom.us/j/7073259199

Long Term Care Insurance 2nd Series — SL Viola Lam

11am, Friday, April 24^th 

Find out how to close more business by incorporating LTCI from SL’s presentation.

Register in advance for this webinar:

https://sunlife.zoom.us/webinar/register/WN__gjbp87gRHmhKNVysXdHxw

Notice from the Insurance Council of British Columbia

The coronavirus (COVID-19) outbreak is causing widespread concern and increasing economic hardship for consumers, businesses and communities. During this unprecedented time, be mindful that there shall be no personal financial dealings with clients.

Some examples of personal financial dealings are:

• Paying premiums on behalf of the client
• Loaning money to the client
• Depositing funds into the client’s investment contract

Conflict of interest is defined as any activity or relationship that places the advisor in a position where their professional and personal interests conflict. Please refer to the Council Rules and Council Code of Conduct for further details.

https://www.insurancecouncilofbc.com/Website/media/Shared/Licensee%20Resources/Resources/Council-Rules.pdf

https://www.insurancecouncilofbc.com/Website/media/Shared/Licensee%20Resources/Resources/Insurance-Council-Code-of-Conduct.pdf

Anyone who breaches the Council Rules and Council Code of Conduct may be subject to possible termination and may be reported to Regulators to determine if further disciplinary action is required.

Advice on the Roles & Duties of Non-Licensed Assistants

Attached is a summary of the roles & duties of non-licensed assistants as deemed appropriate by the different carriers for your reference.  Do incorporate it into your business practice to ensure compliance standards are met.  Please feel free to reach out to Stephen Lai (stephen.lai@wayfinancial.ca or 604-279-0866 ext. 114) for further advice if necessary.

Events Schedule – May (Updated)

The updated Events Schedule for May is attached for your reference.