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This newsletter is your one-stop spot for the latest information on doing business with Canada Life. | | | | | |  | Compliance |
| | | | Bill 64: New compliance and privacy requirements coming soon | Canada Life is taking a Canada-wide approach to Quebec legislation, Bill 64. New requirements of this law come into effect Sept. 23, 2023, and further regulates and improves how we collect personal information and privacy standards for Canadians.
What this means for you:
- No immediate action required. In a few weeks, you'll begin to see changes to consent wording on all forms (version 6/23) that capture both advisor and client personal information.
- More information on how to help ensure your practice is compliant will be shared later this summer, including an updated privacy and compliance guide.
What this means for clients:
- Most versions of the new privacy language for clients will capture consent for secondary use of personal information, including marketing. Exceptions include claims, anti-money laundering and banking only forms.
- If enrolled in My Canada Life, clients can opt-out of the secondary consent via their preference page. If clients are not signed up for My Canada Life, Canada Life won’t use their personal information other than to service their policies.
| | |  | Digital solutions |
| | | | Workspace update: Term and universal life insurance policy summaries | Now when you view term and universal life insurance policy details in Workspace, you’ll be able to export the details into a new tab you can save as a PDF report. On the policy details page, you’ll see an Export summary button.
The details in the summary will be the same as you see in Workspace, but in a print-friendly format. However, the following information will not be available:
- We’ve removed the banking information to adhere to strict customer privacy guidelines.
- The underwriting class and risk rating have also been removed. This is because Workspace currently has no ability to determine, ahead of creating the report, whether the policy is jointly insured or individually.
Participating life insurance policy summaries are coming soon.
Already using Workspace? Log in and check out these enhancements.
Not using Workspace yet? Learn more and register today.
Important action required. The URL for Workspace is changing to: https://lifeco.my.site.com/workspace/s/. Refer to the May 20 news article in Workspace to update your favourite. | | |  | Other news |
| | | | Reminder of June 19 decommissioning of Canada Life My Account | During the week of June 19, 2023, we’re decommissioning Canada Life My Account as part of our ongoing work to move segregated fund policies to our new administration system. Your clients currently have access to their policy information on My Canada Life™, which gives clients easy access to important documents, like statements and tax slips and the option to go paperless.
Clients will see a message on Canada Life My Account encouraging them to use My Canada Life for policy information. If they haven’t already registered for My Canada Life, please encourage them to register today. It’s easy. All they need is their current policy number to register at canadalife.com/gopaperless2.
Thank you for your ongoing support as we take this next step in our journey to make it simpler for you and your clients to do business with us. | | | | Feeling lost? Relay is here to help guide you. | Help us help you find your way through all the processes, forms, and contacts.
Find us under the Support tab in Workspace and chat with a Relay associate today! |
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