News Board

Paramedical Providers - ExamOne Introductions

October 21, 2016

Andrew Namo is the new sales representative for the past 7 months from ExamOne for Insurance Depot LTD. Here is his viewpoints about ExamOne:

I want to outline why ExamOne is the better choice when agents require medicals to be done for their policies.
1. ExamOne is the exclusive lab for the insurance carriers that Insurance Depot does business with and this gives us a competitive advantage. This advantage is the fact that ExamOne is considered a one-stop shop, where we also do the medicals for your clients and this allows us to eliminate the middle man and get results to underwriting much quicker since it comes to our lab anyways. Hooper Holmes, whom your agency has been accustomed to, is the middle man in this case because they send the medicals to our lab, so why deal with two companies when you could deal with just one?
 
2. I also wanted to point out that we also have Punjabi and Hindi speaking examiners across the GTA and I have also attached a letter for clients that agents could distribute on how they can prepare for their medicals in English, Hindi and Punjabi. ExamOne also provides you with the convenience of requesting Punjabi and Hindi speaking examiners. Here is the link that you can visit to access all the language brochures that we have to offer: https://www.examone.ca/for-applicants/prepare-for-my-exam/. I also wanted to point out that if you do any policies with Manulife and Sun Life, we offer online lab results where your clients can view their medical results 7-14 days after doing their examination without having to request it. It is an interactive tool that explains each of the tests, whether you are in a healthy range and what organs the tests pertain to.
 
3. Furthermore, ExamOne used to have an incentive program for every 10 orders that you placed, we would give you 1 insurance lead. However, we currently do not offer that program since the company that provided the leads wasn’t up to our standards and we are currently in the works to look for another company here in Canada. There is no timeline on that as of yet, however I will keep you up to date on any progress with this program.
 
I am looking forward to being your ExamOne representative and please feel free to contact me with any questions or concerns you may have. I will be hoping to do a training in the new year where I can also distribute CE credits and meet all of you at the agency.
 
Have a wonderful weekend,
 
Andrew Namo
ExamOne, A Quest Diagnostics Company | Sales Representative | 25 Valleywood Drive, Unit 5, Markham, ON L3R 5L9 | Phone 905.754.6300 or 1.800.268.3358 | Mobile 416.566.2121 | Andrew.X.Namo@ExamOne.com | www.ExamOne.ca
 
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NEW TRAINING SCHEDULE

October 20, 2016

 

FRIDAY OCT 21 – 1-2 PM - IA – MARK DZIEDZIC & SUSAN NANO on IA Investment Fund Selection

 

 

 

THURSDAY OCT 27 –10 –12 PM - IA - Susan Nano – FOR NEW ADVISORS  

 

 

 

NOVEMBER

 

WEDNESDAY NOV 2 – 10 – 12 PM  - IA – QAYAM  – FOR NEW ADVISORS

 

 

 

WED NOV 2 Assumption Life – Shawn Redford 1-3 NEW REDUCED RATES PART 1

 

 

 

FRI NOV 4 IA – Qayam Lalji & Stuart Crawford 1-3 New Strategies for Changing Products - Equibuild; L100 vs UL & YRT vs Level Cost

 

 

 

WEDNESDAY  Nov 9 – 1 pm - SSQ – Lynn Jiles – SSQ Fund Selection for Investments    

 

 

 

FRIDAY NOV 18; 1- 3 – SSQ – Michael Hamel – New Software and Product Highlights

 

 

 

NOVEMBER 23 IA RRSP ROADSHOW – MISSISSAUGA

 

 

 

NOVEMBER 24 IA RRSP ROADSHOW – BURLINGTON

 

 

 

THURS NOV 24 ASSUMPTION LIFE 1-3 pm –Shawn Redford 

 

Tax Change to SSQ Universal Life Products

June 06, 2016

Tax changes: implications for Universal Life
 
Effective January 1, 2017, changes to tax rules that apply to life insurance will affect all newly issued contracts, with particular implications for universal life contracts.
 
In order to continue offering life insurance products that provide non-taxable benefits at time of death, the multi-life coverage type will no longer be offered as part of the SSQ Universal life product as of September 15, 2016.
 
Also, a number of policy changes will no longer be possible as of September 15, 2016, as explained below.
 
IMPORTANT DATES – UNIVERSAL LIFE
 
Generally, in order for a contract to be governed under the current tax rules, meaning rules in place prior to January 1, 2017, the date that the policy is approved by underwriting as well as the policy date (or coverage effective date) must be on or before December 31, 2016. All other contracts will be governed under the new tax rules.
 
Based on this information, requests for universal life insurance contracts already issued or that will be issued and governed under the current tax rules will be handled as follows:
 
Universal life insurance new business: deadlines in order to obtain a contract governed under the current tax rules
Deadline    MULTI-LIFE UNIVERSAL LIFE    INDIVIDUAL OR JOINT UNIVERSAL LIFE
September 15, 2016    Applications for multi-life universal life insurance must be received at head office by this date.
 
After this date, applications will not be accepted and will be returned to the MGA.
 
It will not be possible to illustrate nor apply for multi-life after this date.    New individual or joint universal life insurance applications will continue to be accepted.
 
If the file is complete  by December 15, 2016, the contract will be governed under the current tax rules.
December 15, 2016    If the file is complete1 by December 15, 2016, the multi-life universal life insurance contract will be governed under the current tax rules.
Policy changes to universal life contracts in force by December 31, 2016, and governed under the current tax rules
Deadline    ALL UNIVERSAL LIFE CONTRACTS
September 15, 2016   

Applications or policy change forms for contracts in-force by December 31, 2016 must be received at head office by September 15, 2016, for the following requests:
Additions of any coverage
Additions of insured persons
Universal life insurance conversion requests for term insurance riders
Exchange requests for term insurance riders
Change of death benefit option that requires proof of insurability
Change in cost of insurance type that requires proof of insurability
After this date, applications and policy change forms will not be accepted and will be returned to the MGA. To proceed with a change after this date, a new application form or policy change form will have to be submitted and a new contract will be issued.

It will not be possible to illustrate nor apply for multi-life after this date.
 
Please note that for universal life insurance contracts with an effective date between September 15 and December 31, 2016, any change that is listed above will not be allowed.
December 15, 2016

If the file is complete by December 15, 2016, the universal life insurance contract will continue to be governed under the current tax rules.
1Complete file: no pending underwriting or issuing requirements. The contract may be issued.