Process modifications while working with Clients remotely: Insurance GICs/Trust GICs/Payout Annuities
Switching to working remotely during the COVID-19 situation means that you’ve had to make some changes to your processes – we’re making some changes too. We’re making it easier to do business with us by temporarily adjusting our guidelines with regards to the information and types of authorization we can accept when processing applications and certain transactions for Insurance GICs*, Trust GICs and Payout Annuities.
While we work towards implementing technology that will efficiently support remote business, we’ve got some suggestions on how to get this done while not face-to-face with the Client.
How to complete applications remotely
Completing the application
- Use Zoom (or your approved video conferencing tool) to review and complete the electronic or paper application where applicable with the Client(s). Also take a moment to verify their email address
- Use your video conferencing and the Dual Process method to visually verify the Client’s identity and fill out the VOI/AML (verification of identity/anti-money laundering) section with the Client
- The Client must send electronic images of the two verified sources to you using secure email
- Include the policy number and add a note in the Special Instructions section that “This application was completed non face-to-face using the Dual Process method.”
For existing Clients when selling a guaranteed investment product, we will accept recent VOI and AML information on file 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 2-4 above).
Getting the Client’s signature
Digital signatures are accepted for applications when necessary and where your Distributor allows. Use the following chart to assess your options for getting a valid signature.
Client has a printer and a scanner (preferred option) | Client has a printer but no scanner | Client has no printer and no scanner |
Fax, mail or email a PDF copy of the completed application or signature page to the Client | Fax, mail or email a PDF copy of the completed application or signature page to the Client | Email a PDF copy of the completed application or signature page to the Client |
Client prints and signs all required documents | Client prints and signs all required documents | Client uses available technology to place a scribble signature on the document digitally (typing their name is not acceptable) |
Client faxes, mail or scans the signed documents back to you via secure email | Client faxes or mails the signed documents back to you OR takes a picture of each page of the document and sends all the pictures back to you via secure email | Client emails the digitally signed documents back to you via secure email |
If none of the above options are viable for you and/or the Client, please contact us via the contact information below so we can explore how we can provide further support. | ||
Submitting the application/signature page
Submit the application by fax, mail or secured messaging to head office in the same manner you currently do. Engage your business partners where applicable to ensure proper advisor-governed activities continue to occur. Ensure you include copies of the verified source documents to support the Dual Process VOI method.
IMPORTANT: All references in this communication to using email are referring to “secured email.” You must use secured email when sending any of these documents to the Client.
How to submit other transactional requests
You can submit other forms and transactional requests for a policy already in place using the same options above to obtain Client signatures and verify their identity. It is important to complete the applicable forms with the Client via Zoom (or your approved video conferencing tool).
Transactional requests submitted with a digital signature are restricted to the following at this time:
- Updates to Client information
- Updates to a Client’s income payment method or PAC/EFT details
- Investment directions and withdrawal requests when a signature is required
Further support during the COVID-19 situation
We’re continuing to make processes easier to carry out wherever we can as we all work at social distancing. We will share updates with you as promptly as possible.
For guidance on how to complete Sun Life GIFs applications, please refer this communication.
Contacts:
- Insurance GICs/Trust GICs: 1-877-272-2020, options 3, 1 (English and French)
- Payout Annuities: 1-800-246-5567 (English)/1-800-246-5562 (French)
*An insurance GIC is an accumulation annuity issued by Sun Life Assurance Company of Canada.