Temporary dual process for verification of identity
As you are aware, for the temporary non face-to-face process, we are asking Advisors to complete the Dual Process method for Verification of Identity for Insurance (Permanent, Par and Universal Life), Mutual Fund (non-registered accounts), Sun Life Guaranteed Investment Funds and Guaranteed Wealth Clients (Insurance GICs*, Trust GICs, and Payout Annuities). As this is not a method you may use often, we thought it would be helpful to provide some guidelines around what you should be checking for when verifying these sources.
The Dual Process method relies on two different, reliable, independent sources to verify the Client’s identity. These two sources must verify two of the following:
a) Name and address
b) Name and date of birth
c) Name and confirm a financial account
When assessing the documents, here are some key points to remember:
- You cannot rely on information issued by a single source, even if it confirms name, address, date of birth and a financial account. The two sources must be independent of one another.
- The documents must match what is filled out in the application or 4830/4831
- If you are referring to a document that has an expiration date, it must be current. The exception to this is any document that expired on or after March 1st, since government offices have been closed we will allow documents that expired on or after this date.
- If the document does not expire (i.e. a bank statement) please ensure that it is from the current month or the month prior. We want this to be as recent as possible.
- The information must come from a reliable source- examples include documents from all areas of government, financial entities or utility providers.
- The information must be from a well-known source. For example a pay stub may not be acceptable if issued by an unfamiliar company.
- The document must be unaltered in any way- Anything that is crossed out or blacked out nullifies the documents validity.
- A birth certificate can only be used if it matches the name provided on the application- It would not be considered valid if the last name varies due to marriage.
- A Health Card is not a valid source in the following provinces: PEI, Ontario, Nova scotia and Manitoba.
For the temporary non face-to-face process, we are also allowing two sources of Photo ID that contain the specified criteria as valid sources. For example, a Drivers License can be used to confirm name and address, and a Canadian Passport could confirm name and date of birth.
It is important to note that the Dual Process method that is outlined here, is specifically for new Clients or for existing Sun Life Clients that have not purchased a policy requiring VOI/AML data in the last 24 months.
For an existing Sun Life Client, that has provided VOI/AML data in the last 24 months that the Advisor confirms is unchanged, we may accept the traditional Photo Identification method of VOI.
Please ensure that in addition to reviewing these documents with the Client via video chat while completing the application, that you also submit copies of these documents along with the application for verification purposes.
Thank you for your continued flexibility and support while we continue to adapt our processes.
*Insurance GICs are accumulation annuities issued by Sun Life Assurance Company of Canada.
Note: When completing the Identity Information section of the e-app, if you are using the Dual Process method, please ensure that the Dual Process method is selected instead of Photo Identification. This will allow you to enter the 2 source documents. If any photo ID was used, you may need to select 'other' in the drop down.