Making it easier to process non face-to-face for guaranteed wealth business
As the COVID-19 situation evolves, we have temporarily adjusted our guaranteed wealth (Insurance GICs*, Trust GICs, and Payout Annuities) application procedures to make it easier to process non face-to-face business.
The options shown below are available to you starting today. These will remain in place until further notice. We will continue to look for opportunities to help make it easier to do business with Clients remotely.
To facilitate the collection of new Verification of Identity (VOI) information, we will leverage the existing Dual Process method. As a temporary solution, we request that copies of the verified source documents within the Dual Process method be submitted via secure email link or fax as opposed to the current face-to-face requirement.
Insurance GICs, Trust GICs, and Payout Annuities | |
Existing Clients | New Clients |
1. Verify Sun Life has recent VOI and Anti-money Laundering (AML) information on file (see below for instructions). If this applies, add a note in the Special Instructions that “This application was completed non face-to-face and VOI/AML have been collected within the last 24 months <<insert policy number>>” 2. Use video conference to review and complete the application with the Client(s) and verify their email address 3. Complete the policy number and date the appropriate application form before sending it to the Client(s) 4. Fax, mail, or email (via secure email) a PDF copy of the application or forms to the Client(s) only 5. Have the Client(s) sign all required documents as they apply to each product and fax, mail, or scan them back to you via secure e-mail | 1. Use video conference to review and complete the application with the Client(s) and verify their email address 2. Be sure to use the Dual Process method to visually confirm the VOI and fill out the VOI/AML section while using video conference with the Client(s) 3. Client(s) must send electronic images of the two verified sources to you using secure email 4. Complete the applicable forms or paper application, include the policy number and date before sending it to the Client(s) 5. Add a note in the Special Instructions section that “This application was completed non face-to-face using the Dual Process method.” 6. Fax, mail, or email (via secure email) a PDF copy of the application to the Client(s) only 7. Have the Client(s) sign all required documents as they apply to each product and fax, mail, or scan them back to you via secure e-mail 8. When submitting the application to head office, ensure you include copies of the verified source documents to support the Dual Process method |
*
Insurance GICs are accumulation annuities issued by Sun Life Assurance Company of Canada.
Existing Clients, further instructions:
For existing Clients when selling a guaranteed investment product, we will accept recent VOI and AML information on file that was collected within the last 24 months. You must confirm the information is still accurate. If this information is inaccurate or over 24 months old, you must collect new VOI and AML information using the Dual Process method (see steps 2-5 above under New Clients).
Key points to consider as you place business:
Continue to use the appropriate paper application forms for Insurance GICs and Trust GICs
- Application for Superflex Deferred Annuity: RSP/LIRA or Non-Registered or Income Master Annuity: RIF/LIF/RLIF 810-3549
- Application for Superflex Annuity: TFSA 810-3584
- Application for Sun GIC Max or Guaranteed Investment Certificate (GIC) RSP/RIF or non-registered 810-3547
- Application for Sun GIC Max or Guaranteed Investment Certificate (GIC): Tax-Free Savings Account 810-3548
Continue to use the application form for Payout Annuities:
Application for a Payout Annuity (3318)
Payout Illustrations
Did you know you can create and confirm most illustrations yourself using the sales illustration tool on your advisor website? When confirming a sale, you will receive a policy number to include on the application.
It is important to note that any changes to the purchase date (the date the funds and all required documents are received at Head Office), the payment start date, and the premium amount or annuity details will affect the income illustrated. Please consider the time it may take to place business when creating your illustration.
If you have questions about these temporary changes, please contact:
· Insurance GICs/Trust GICs: 1-800-800-4786
· Payout Annuities: 1-800-800-4786 option 1