In this issue:

• New pay deposit day starting June 25
• Business relationship requirements
• Guarantee Advantage - August 2021 campaign
• Helios2 Contract: New versions of the Contract and Information Folder and Funds Facts available May 20
• We will write to your clients who have reached or will reach the age of 71 in 2021
• Changes to signatures in the electronic application
• COVID-19: We’re still committed to helping you and your clients

NEW PAY DEPOSIT DAY STARTING JUNE 25

Currently, the pay period starts on Friday and ends on Thursday of each week. Starting June 25, the pay periods will start on Saturday and end on Friday. This change will help us improve our pay processing operations by allowing us to pay compensation earned on business settled on Friday’s a week earlier than our current process.

Electronic funds transfer deposits (EFT)

The electronic funds transfer deposits (EFT) day has changed. Deposits will now be done on Thursdays.

Here are the changes for your upcoming pays

Compensation statements

See the Compensation Statements app on Webi starting on the Monday following the end of the pay period, as is currently the case.

BUSINESS RELATIONSHIP REQUIREMENTS

Desjardins Insurance must comply with the requirements and regulations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

Desjardins Insurance and any representatives who sell our products must confirm the identity of all new clients and keep their information up to date.

We’ve updated our forms to comply with these regulations, and information updates will be required for all clients with products governed by the Act.

We’ll write to you

When we need updated information on one of your clients, we’ll write to you and request the required form.

You will have to take steps to obtain the required information. If we don’t hear from you by the deadline, we’ll contact your client directly.

Forms

If the contract owner is a business:
The Identity Verification Supplementary Form has been updated to include all of the information needed to update your clients’ files.

Important!
Please get rid of any previous versions of this form, since we won’t be able to accept them anymore. You’ll also see that it’s no longer available as a paper form: you need to use the editable electronic version, available on Webi.

If the contract owner is an individual:
*NEW* We've created a new Personal Information Update (example) form to obtain all of the information needed to update your clients’ files.
 

GUARANTEE ADVANTAGE - AUGUST 2021 CAMPAIGN

The trend is on the rise!

The August 2021 campaign has several great options for your clients:

• Potential maximum returns are:
  • are maintained for the 3-year term
  • are increased for 4-, 5- and 6-year terms
  • are unlimited for the 7-year term
• All baskets are maintained.

To find out more about the August 2021 campaign, refer to Webi.

HELIOS2 CONTRACT: NEW VERSIONS OF THE CONTRACT AND INFORMATION FOLDER AND FUNDS FACTS AVAILABLE MAY 20

New versions of the Contract and Information Folder and Fund Facts, including up-to-date financial information as at December 31, 2020, are available for the Helios2 Contract. Please use these versions starting now.

You can order copies at the warehouse starting May 20 using the following numbers:

WE WILL WRITE TO YOUR CLIENTS WHO HAVE REACHED OR WILL REACH THE AGE OF 71 IN 2021

Your clients turning 71 this year who have an RRSP or a LIRA will soon receive a letter from Desjardins Insurance regarding the required conversion of their contract(s).

We wish to remind you that under the Income Tax Act, these contracts must be converted into pension products before December 31, 2021. You must therefore take the necessary steps in this regard.
 

Obtain the list of your affected clients

Lists of clients could be provided upon request only.

Steps to follow

First, please refer to the Internal Transfers section under the Investments > Policy Services sections. Please read the letter template and the general rules of the Accumulation Annuities procedures guide, as well as the letter template and the general rules of the Guaranteed Investment Funds procedures guide.

LIRA under federal legislation – Choice of contract

For LIRAs under federal legislation, please note that the Individual Annuity Administration can only provide LIF contracts under Quebec’s provincial legislation. For all clients holding LIRAs under provincial legislation other than Quebec, a transfer to a Helios LIF contract is suggested.

CHANGES TO SIGNATURES IN THE ELECTRONIC APPLICATION

Our supplier has made some minor changes that will improve the image quality of e-signatures. 

The e-signature option will continue to be easy to use and you may not even notice the change, but we've created a reference document that walks you through the different steps of remote and in-person signatures.