Loyalty Bonus Program 2017
Submitted by Krishan on February 15, 2017 - 5:46pm
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PDF version Eligibility: To qualify for the Loyalty Bonus Program (LBP), the advisor must earn a minimum Net First Year Commission (NFYC) within a calendar year (the “Minimum NFYC”). For 2017, the Minimum NFYC has been set at $10,000.
Eligible Products:
All term and permanent life insurance products offered by Canada Protection Plan.
How does it work? Example: 
* The total premiums expected to be paid on the policy in the first year.
How will it be paid?
The additional Bonus will be paid out by the end of January of the following year. IE: If you generate $10,000 in NFYC in 2017 and attain our Bronze level, you will be paid an additional 15% Bonus on all your 2017 net FYC payable in January of 2018. The Loyalty Bonus Program (LBP) is only paid on the NFYC and not on the override.
Download our Life Insurance Application HERE
Access our Illustrator and E-Application HERE
Rules and Regulations
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| Participating advisors must have a valid broker code with Canada Protection Plan, and the broker code must remain in force and in good standing until the Loyalty Bonus Program (LBP),is paid out. Eligibility for the LBP is not transferable. The LBP is not a contractual obligation and Canada Protection Plan reserves the right to change it or cancel at its sole discretion. Cancellation of the LBP will not affect the entitlement of advisors to Bonus compensation earned prior to cancellation and not yet paid by Canada Protection Plan. Canada Protection Plan will set the amount of the Minimum NFYC to be entitled to the additional Bonus effective as of January 1 of each year. If in any calendar year an advisor receiving a LBP Bonus generates less than the Minimum NFYC, the advisor will no longer be entitled to a LBP Bonus. If in any subsequent year the advisor generates the Minimum NFYC for that year, he or she will be entitled to a LBP Bonus at the Bronze level. There will be no pro-rating of qualification requirements for advisors who contract with Canada Protection Plan during the qualification period. Qualification criteria cannot be transferred from one advisor to another. To qualify, you must be the only advisor submitting business under your code. No credit split will be accepted unless the same split is applied to commissions. All eligible candidates must follow industry and regulatory guidelines including full disclosure to their clients regarding participation in the Loyalty Bonus Program. sales@cpp.ca | 1.877.796.9090 | www.cpp.ca/advisors CANADA PROTECTION PLAN and the logo are trademarks of Canada Protection Plan Inc. |
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