Doing business with us should be easy. That's why we're bringing you a digital application. It’s simple and straightforward and will make processing Canada Life™ segregated fund applications easier.

 Canada Life is an industry leader for segregated funds and product shelf diversity. We continue to modernize our shelf to be competitive, relevant and positioned to win. 

For Advisor Solutions and Advanced Advisor Practices advisors:

• You’ll earn an additional 0.5% bonus of gross sales for new digital segregated fund applications submitted through Workspace until Sept. 30, 2024. *

• The bonus period runs until Sept. 30, 2024. *
  
• “Gross sales” is defined as the total amount of new segregated fund money.
  
• There’s a cap – bonuses will only apply to the first $2 million of a policy. For split commissions, the $2 million cap is applied before the split. 
  
• There will be two bonus payouts:
  
  • Any business submitted by March 31, 2024, was paid by June 30. Funds transferring from another financial institution must have been received by Canada Life by April 30, 2024, to qualify for the bonus. There will also be a reconciliation on Sept. 30, 2024​, with a potential bonus chargeback if funds that qualified for the bonus have been withdrawn or moved.
    
  • Any business submitted between April 1 and June 30, 2024, will be paid by Sept. 30, 2024. Funds transferring from another financial institution must have been received by Canada Life by July 31, , to qualify for the bonus. There will also be a reconciliation on Dec. 31, 2024​, with a potential bonus chargeback if funds that qualified for the bonus have been withdrawn or moved.
    
  • For any business you submit between July 1 and Sept. 30, 2024, you’ll be paid by Dec. 31, 2024. Funds transferring from another financial institution must be received by Canada Life by Oct. 31, 2024, to qualify for the bonus. There will also be a reconciliation on March 31, 2025​, with a potential bonus chargeback if funds that qualified for the bonus are withdrawn or moved.
    
• You must use the DocuSign process integrated with the Canada Life digital application when submitting business.
  
• You must have an active producer code be in good standing when the bonus is paid.
  
• Any bonus inquiries or challenges must be received within 30 days after the bonus is paid.
  

• Five cases totalling $100,000 in deposits submitted via the digital platform during the bonus period. Canada Life receives assets by Sept. 30, 2024.
  
• Advisor bonus = $500 (0.5% of $100,000).
  
• The money must remain in the segregated fund until Dec. 31, 2024, or the bonus payment may be subject to chargeback. 
  

Payout:

$100,000*0.005 = $500

For advisors:

We remind you that your primary obligation is to advise clients in their best interest and to treat customers fairly at all times. You must not promote or sell a product that does not meet a client’s financial needs as a result of this incentive or otherwise. To be eligible for this incentive, your practice must meet compliance requirements.

For delegates:

We remind you of your obligation to ensure that advisors are advising clients in their best interest and treating customers fairly at all times. As a result of this incentive or otherwise, you must not encourage advisors to promote or sell a product that does not meet a client’s financial needs. Eligibility for this incentive is subject to compliance with these requirements.

When you’re compliant, you protect yourself and your clients and you strengthen the value of your practice. Compliance is mandated. It’s the right way to conduct business, and it’s how we conduct business. 

If you have questions or concerns about compliance, contact your field leader or regional compliance consultant.