Doing business with Canada Life – October 24, 2023

Submitted by Brett on October 24, 2023 - 10:00am

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Your business is unique. That's why we're committed to providing you with flexible, tailored support to help you navigate industry changes, assist your clients, grow your business and serve more Canadians.

This newsletter is your one-stop spot for the latest information on doing business with Canada Life.

Digital solutions

What’s new with My Canada Life

Guaranteed interest option (GIO), daily interest option (DIO) and co-mingled segregated fund policy details are now available on the My Canada Life™ client site.
All participating life insurance and term life insurance policy products are now available.
Total coverage of a policy is here for participating life, term life, and critical illness insurance policies. The benefit amount is also available for disability insurance policies. This replaces the base coverage tile on the policy details page.

Check out the quick reference guide for more information and to learn how to invite clients.

If your clients need help with My Canada Life, they can call 1‑888‑534‑1836 (Mon‑Fri, 8 a.m. – 8 p.m. ET).

Compliance

Bill 64 update: New client notice on Simple Protect and New Business WebApp

Effective Nov. 1, SimpleProtect™ and the New Business WebApp will add a notice to clients indicating their decision may be automated. Automated decisions are not new to our process, however, to align with Bill 64 (Law 25) we must notify clients in advance of the possibility of an automated decision. There is no action required of you or your clients. Watch for further updates as we continue rolling out Bill 64 changes across other forms and digital applications in the coming months.