| | | Empire Life reports strong earnings in 2015 | 
| | We’ve announced our 2015 financial results. Read the news release. Highlights include
· strong earnings with an overall shareholders’ net income of $108.6 million in 2015, versus $98.7 million in 2014.
· Assets under management (including segregated fund and mutual fund assets) increased 5% from 2014 to reach $14.5 billion
· Our MCCSR as at December 31, 2015 was 201% | 
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Easter Weekend All Empire Life offices will be closed on Friday, March 25th for Good Friday. We will re-open on Monday, March 28th. |
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Money Facts 2016 at your fingertips Our handy money facts sheet has everything you need to talk to clients about RRSPs, TSFAs and taxes. Just download it to share or hand out.
English version >
English (Quebec) version > |
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Investment Illustrator featuring Class Plus 2.1 Update We have updated our Investment Illustrator featuring Class Plus 2.1 to version 2.5. Updates to the Investment Illustrator include: Sequence of Returns table updated to include 2015 returns
CANSIM (Canadian Socioeconomic Information Management) rates updated The updated version of the Investment Illustrator can be accessed from the Software Downloads section of our website. |
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No Change to the Dividend Scale Empire Life is pleased to announce that the current dividend scale interest rate for the 2016-2017 year will remain unchanged at 6.50%. This applies to the dividend scale interest rate for both EstateMax and Optimax plans. |
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Get market insights direct to your inbox Join our community and get the latest market insights from our Investments Team delivered direct to your inbox. Subscribe to the Empire Life Investments Blog. |
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Policyholder tax reporting for 2015 and RRSP season 2016 Deposits to a registered plan received within the first sixty (60) days of 2016 are eligible as a tax deduction for the 2015 or 2016 taxation year. A tax receipt will be issued stating that this deposit was made in the first 60 days of the year. This year, the deadline for a 2015 tax receipt is Monday, February 29, 2016. Read Information Circular 2016-01 for important 2015 tax reporting and RRSP season 2016 cutoff dates for all Empire Life investment plans. |
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Best Practices Handbook revised Our recently revised Best Practices Handbook (formerly Distribution Partner Reference Guide) is now available in the Compliance section of the Advisor website. This Handbook will provide advisors will a summary of industry best practices and regulatory requirements and includes many links to resources that will assist advisors in meeting their requirements. |
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Simple and Access it anywhere - Advisors speak out about their experience with Fast & Full Advisors have been speaking out about Fast & Full, our easy-to-use, online life insurance application process that helps them save time, see more clients, and reduce paperwork. To hear first hand what this “Fan of Fast & Full” is saying, check out this short video of Brock Schultz, Riverside Financial Group." |
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Updated Commission and Compensation Schedules We have recently updated our commission and compensation schedules and have made additions to the FundSERV sections. Please refer to Information Circular 2016-06 for more details. |
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Notice When delivering a policy, advisors must make sure the information noted on the application and related signed declarations is still complete and correct, and has not changed since the application was completed. All insureds must confirm whether there have been changes in their health or any other information previously provided, that could affect the underwriting decision. Such changes must be noted on the Policy Delivery Receipt for additional underwriting review. If there have been changes, the advisor should not deliver the policy.
By signing the delivery receipt, all owners and insureds acknowledge that all statements and answers provided on the application and delivery documentation, including the policy delivery receipt, are true as of the date of policy delivery. If any of the statements are incomplete or untrue, the insurance coverage may not be valid and a claim could be denied. |
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Mailing T4As and Relevé 1s for our Distribution Partners and Advisors Our Mailroom has been hard at work mailing the tax slips and the mailing is complete.You can expect to receive your T4A and Releve tax slips shortly. |
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Start a conversation with our new Emblem video! Our new Emblem video makes it easy to engage with clients and prospects. Available in a segregated fund version and mutual fund version, it explains the benefits of Emblem in terms your clients will understand and appreciate. You pick up the conversation from there! |
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Reminder For RRIF Policy Holders You may have some RRIF policy holders that are eligible to re-contribute a portion of the amount that they received from their RRIF in 2015. Changes came into effect on April 21, 2015 as part of the federal government’s budget ("Economic Action Plan 2015”) that reduced the amount that must be withdrawn from Registered Retirement Income Funds (RRIF) for the 2015 and subsequent taxation years. Your customers have up until February 29, 2016 to make a re-contribution.
Additional information about re-contributions related to changes in the RRIF minimums is available online here.
The CRA website also provides more information on the RRIF minimum changes here. |
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Tip of the Week Did you know that obtaining the Authorization to Release Information from your client when completing a Fast and Full application helps us to provide you with an underwriting decision on a timelier basis? Having the required authorization means fewer follow ups.
Please review this optional section with your clients to avoid delays.
Remember, Empire Life orders medical requirements for all Fast and Full applications. |
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