NATIONAL ACCOUNT VERSION COMPLETE REFERENCE GUIDE

Transcription

1 NATIONAL ACCOUNT VERSION COMPLETE REFERENCE GUIDE

2 The 2015 Strategic Partner Program OUTSTANDING RESULTS EARN OUTSTANDING REWARDS! Sun Life Financial s Strategic Partner Program is exclusive to our leading independent insurance advisors. Through this program and in recognition of your outstanding achievements, you receive unique benefits and enhanced service designed to: streamline your administration, ensure prompt responses of all business, and encourage ongoing professional development. CONTENTS Benefit period 3 Qualification period 3 Eligibility 3 Qualification benefit descriptions 6 Rewards and recognition 13 Guidelines for using the business development allowance 14 Executive underwriting account benefits at a glance 18 2

3 Benefit period The 2015 Strategic Partner Program runs from March 1, 2015 to February 29, Membership is determined in early All qualifiers are notified in February. Benefits begin March 1, 2015 and continue until February 29, Qualification period QUALIFICATION RUNS FROM JANUARY 1, 2015 DECEMBER 29, You can also qualify anytime throughout the program year (at the Partner level). You will have access to Partner-level benefits (with the exception of the business development allowance). These benefits will begin the month after you qualify and continue for the remainder of the program year. For example, if you qualify in June 2015, Partner-level benefits (excluding the business development allowance) begin in July 2015 and continue until February 29, Production from one year cannot be credited toward benefits for the next year. Qualification is based on the final first year commission (FYC) number for the previous year. We ll consider year-end appeals in some circumstances. Eligibility Strategic Partner Program benefits are available to all advisors who conduct business with Sun Life Financial and meet the qualification criteria. Managing general agency (MGA) principals and national accounts firms must provide approval for advisors and specialists in their firm to participate in this program. Business is typically calculated on an individual basis only. Split cases and combined business situations are reviewed on a case-by-case basis. Qualification MEMBERSHIP LEVELS The Strategic Partner Program has three levels of membership, each providing an exceptional suite of benefits and services based on the overall business you bring to Sun Life Financial. PARTNER LEVEL SELECT LEVEL PREMIER LEVEL This is our first membership level, providing dedicated resources and priority service to support your ongoing success. This is our second membership level. It entitles you to all Partner-level benefits plus additional rewards and recognition including a dedicated underwriter. Our highest membership level is reserved for our top advisors. At the Premier level, in addition to all Partner- and Select-level benefits, you receive a larger business development allowance. 3

4 2016 QUALIFICATION CRITERIA To qualify for the 2016 Strategic Partner Program, you must place a minimum of five insurance cases throughout 2015 and meet the required first year commission (FYC). We determine membership by the amount of FYC earned on the sale of life and living benefit products. TOTAL FYC EARNED ON SALE OF FOLLOWING PRODUCTS LIFE SunTerm Sun Par Protector Sun Par Accumulator Sun Lifetime Alternative SunUniversalLife Sun Limited Pay Life LIVING BENEFIT Sun Long Term Care Insurance Sun Critical Illness Insurance Personal health insurance Health Coverage Choice Sun Retirement Health Assist PARTNER * 50,000 TOTAL FYC SELECT 90,000 TOTAL FYC PREMIER 150,000 TOTAL FYC * If you qualify during 2015, Partner-level benefits (excluding the business development allowance) begin immediately and continue until February 29,

5 GROUPED QUALIFICATION CRITERIA Groups may be permitted to qualify for the Strategic Partner Program. Membership level is determined by the group s total production. This level applies equally to all members of the group. For example, if a three-person group s total production equals $150,000 FYC: all three group members qualify at Partner level, regardless of their individual production levels. all three group members receive Partner-level benefits. All groups not recognized in the 2014 program, excluding contracted MACs, must be approved by our Vice-President, Insurance Distribution, Wholesale Channel, to be considered for the Strategic Partner Program. 3 MEMBER 150,000 TOTAL FYC = PARTNER-LEVEL STATUS FOR ALL MEMBERS THREE-YEAR QUALIFICATION CRITERIA FOR THE 2016 STRATEGIC PARTNER PROGRAM Three-year qualifications for the 2016 Strategic Partner Program are based on the average FYC you earn during 2013, 2014 and Your average FYC will determine your membership level in You must also place a minimum of five cases in

6 2015 benefit descriptions AN EXCEPTIONAL SUITE OF BENEFITS AND SERVICES PARTNER LEVEL DEDICATED TOLL-FREE SUPPORT LINE Our toll-free support line reserved exclusively for Strategic Partners provides a superior service experience. PRIORITY APPLICATION PROCESSING When you submit a life or health application, it s immediately flagged for front-of-the-line service (throughout the entire new business process) and a team member will contact you within 24 hours to provide a status update. DIRECT ACCESS TO A TEAM OF UNDERWRITERS Strategic Partners are assigned a team of underwriters for direct advice and consultation on non-routine questions. You receive a written decision on each case. When a policy can t be issued as applied for, a member of this team contacts you directly, providing reasons and a rationale to assist in your client discussion. DEDICATED CASE MANAGER A dedicated case manager provides case management for all new business you submit, working closely with our underwriters to ensure priority service and prompt processing of all applications. SENIOR IN-FORCE CONTACT For in-force business, your dedicated in-force contact works with you and your marketing associate (MA) to handle all time sensitive or escalated service requests. For routine inquiries and requests, please contact our dedicated toll-free support line. When situations require your immediate attention, your in-force support contact will call you directly. These situations include: insurance and health policy changes not in good order, high impact insurance and health policies (i.e., $750,000 and over) in danger of lapsing, requests to surrender (without your involvement), guaranteed wealth applications not in good order. We also waive fees for back-dated cash values and accounting history. DEDICATED CLAIMS CONTACT For life, critical illness and long-term care claims, your dedicated claims contact helps you and your clients effectively navigate the process, understanding both the administrative and emotional aspects of these types of claims. 6

7 2015 benefit descriptions PARTNER LEVEL DEDICATED PAYOUT ANNUITIES CONTACT Your payout annuities contact provides large case quoting services, guidance on running self-service quotes and valuable assistance throughout the new business process. DEDICATED REGIONAL SALES DIRECTOR Your Regional Sales Director (RSD) is dedicated to your success, providing business building ideas, case-by-case support and comprehensive guidance related to product solutions, marketing and more. Expect personal service, valuable advice and an unparalleled commitment to your business activity. DEDICATED SALES SUPPORT Your dedicated sales support representative answers your and your MA s questions about marketing allowance, current standings and more. They help you contact other members of our service team. Expect immediate assistance, attention to detail and outstanding support. ACCESS TO DIRECTORS OF ADVANCED PLANNING Identifying the needs and designing solutions for affluent and business clients often require the services of skilled tax and legal professionals. As a Strategic Partner, you can consult with Sun Life Financial s directors of advanced planning. Members of this team answer your technical questions and are well-versed in opportunity analysis, case development and consultation, providing priority service and ongoing support. PRIORITY APS COORDINATION AND HANDLING The faster we receive an APS (attending physician statement) from medical professionals, the faster we can issue a policy and in turn, your compensation. As a Strategic Partner, we can coordinate APS requests on your behalf via the VIP service offered by Keyfacts a leader in APS services in Canada. These requests receive priority handling. They re expedited by Keyfacts most experienced staff, identified as rush requests to medical professionals and accompanied by special incentives, when applicable. Reports are automatically faxed or couriered to Sun Life Financial for immediate review and processing. PRIORITY IN-FORCE ILLUSTRATION PROCESSING The standard wait time for processing of in-force illustrations is three days. As a Strategic Partner, your illustrations are processed in 24 hours or less. 7

8 2015 benefit descriptions PARTNER LEVEL BUSINESS DEVELOPMENT ALLOWANCE Our business development allowance helps cover expenses related to advisor/ business promotion, lead generation, client appreciation and professional development. Use this allowance 1 to support your marketing initiatives and continued business growth with Sun Life Financial. To receive reimbursement, please contact your firm manager regarding allowance amounts and follow the reimbursement process outlined on page To receive this allowance, you must be qualified in the Strategic Partner Program for one full year. This allowance covers activities that occur between March 1, 2015 and February 29, TRIAL ASSESSMENT APPLICATION Through the trial assessment, we conduct preliminary medical underwriting reviews and can extend tentative offers for life, critical illness or long term care insurance for clients with known, significant health issues. 2 Simply submit any available medical information and pertinent medical evidence with a fully completed application (marked as trial ) for our review. Use this benefit to introduce Sun Life Financial products and solutions to more clients. 2 A full insurance application and underwriting are still required. PRELIMINARY UNDERWRITING OPINION Use this benefit to receive quick service for preliminary underwriting assessments for clients with known, significant health issues or for those who participate in hazardous sports or professions, have adverse driving records or frequent countries with government travel advisories. Simply direct your to your dedicated case manager and receive prompt feedback. Please include this feedback with your application submission. PRACTICE DEVELOPMENT SUMMIT This is a key benefit of the Strategic Partner Program. All Strategic Partners receive an invitation to participate in this unique, high-calibre event. Located at an intimate resort venue, the three-day, two-night meeting features advisor presentations, industry experts and open discussions on relevant practice development topics. In addition to the formal sessions, the agenda provides valuable networking opportunities in a social setting. The intent is to foster business-building ideas in a relaxed setting. 3 All costs are covered by the Strategic Partner Program. 4 Sun Life Financial meeting planners co-ordinate your registration and assist in your travel arrangements. The 2015 locations and dates will be announced early in the year. 3 Attendees at the Practice Development Summit are Sun Life Financial guests and expected to participate in the entire event. 4 Insurance Specialists of IIROC firms are charged a nominal fee to attend this event. This complies with rules and regulations set out by IIROC industry compliance. 8

9 2015 benefit descriptions PARTNER LEVEL MARKETING ASSOCIATE (MA) SUPPORT PROGRAM For many Strategic Partners, MAs play a big part in their success. Our MA support program gives MAs the opportunity to network, share ideas, discuss experiences and enhance their current skills and knowledge. Key elements of this program include: MARKETING ASSOCIATE FORUM Your MA can attend a complimentary 5 regional event that encourages both professional development and networking opportunities. Watch for information on the dates and locations for this year s event. MARKETING ASSOCIATE WEBINARS These webinars keep MAs up-to-date on Sun Life Financial and industry developments. They also give MAs the opportunity to share ideas and processes, discuss hot topics and network all from the convenience of their own desks. 5 One MA per Strategic Partner (as selected by you) may attend. MAs of IIROC firms are charged a nominal fee to attend this event. This complies with rules and regulations set out by IIROC industry compliance. NOTE: Insurance specialists for IIROC firms must speak with their firm managers about Practice Development Summits, MA support programs and business development allowances and how these benefits will apply. ANNIVERSARY CELEBRATION! This year, we re celebrating the tenth anniversary of our MA support program with a special event for MAs across the country. Contact your sales support team member or visit sunlife.ca/advisor for details. 9

10 2015 benefit descriptions SELECT LEVEL Select-level status in the Strategic Partner Program entitles you to all Partner-level benefits and more: DEDICATED UNDERWRITER Your dedicated underwriter 6 provides sound underwriting consultation and advice. You receive a written decision on each case. When a policy can t be issued as applied for, your underwriter contacts you directly, providing the reasons and rationale to assist in your client discussion. 6 Partner-level advisors have a dedicated underwriting team. Select-level advisors are upgraded to a dedicated underwriter. EXECUTIVE UNDERWRITING ACCOUNT For clients who require more extensive tests before an underwriting decision can occur, the executive underwriting account provides up to $1,000 to access specialized testing. Your dedicated underwriter and case manager arrange for testing to take place at the client s convenience, in their own community, encouraging prompt completion of the underwriting process. See page 17 for more detail. 10

11 2015 benefit descriptions PREMIER LEVEL In addition to all Partner- and Select-level benefits, your Premier-level status in the Strategic Partner Program entitles you to the following: DEDICATED SENIOR UNDERWRITING CONSULTANT Your dedicated senior underwriting consultant 7 provides sound advice and consultation. Your underwriting requests receive the highest priority, from start to finish. You receive a written decision on each case. When a policy can t be issued as applied for, your senior underwriter contacts you directly, providing the rationale to assist in your client discussion. 7 Partner-level advisors have a dedicated underwriting team. Select-level advisors have a dedicated underwriter. Premier-level advisors are upgraded to a dedicated senior underwriting consultant and receive highest underwriting priority. PRACTICE DEVELOPMENT SUMMIT The Practice Development Summit (as described in the Partner-level benefits) provides professional development in a luxurious setting. Premier-level advisors also have the exclusive opportunity to invite a sales associate to this prestigious event. Please contact your Sun Life Financial Regional Vice-President (RVP) for approval. LIVE WEBINARS WITH OUR CHIEF UNDERWRITER Participate in open discussions with Sun Life Financial s Chief Underwriter and members of her team during live webinars, scheduled periodically throughout the year. Gain insight into current underwriting issues and processes. Ask questions about unique scenarios and explore business-building solutions. Watch for more information on dates and topics for these discussions. DIRECT ACCESS TO AFFLUENT INSURANCE SOLUTIONS (AIS) Clients in the affluent and business markets often require customized insurance designs. As a Premier-level Strategic Partner, you have direct access to the services of our Affluent Insurance Solutions (AIS) team, including a direct contact and phone number for all your cases. This knowledgeable team provides special quoting that includes illustrations beyond software limitations, help with competitive situations and insurance solutions for unique client needs. PERSONAL INVITATION TO AN EXCLUSIVE INDUSTRY EVENT A personal invitation from your Sun Life Financial RVP to attend an exclusive industry event is a benefit reserved solely for Premier-level advisors. Events sponsored by leading-edge organizations such as the Conference for Advanced Life Underwriting (CALU) and The Institut québécois de planification financière (IQPF) encourage tremendous professional development and networking opportunities. Your Sun Life Financial RVP will contact you with complete details. 11

12 2015 benefit descriptions PREMIER LEVEL SELF MANAGEMENT GROUP HOME OF THE POP The Self Management Group provides state-of-the-art recruiting, team building and business succession tools to help grow your team and business. These tools (e.g., POP TM, AdminPro TM, LeaderPro TM and TeamPro TM ) help you become more aware of your coaching/management style, recruit the right candidates for your business, choose your successors and more. As a Premier-level advisor, participate in a complimentary profile session. BUSINESS DEVELOPMENT EVENT PLANNING SUPPORT Successful event planning requires time, energy and attention to detail. Use this service to access experienced help when organizing events funded by your business development allowance. PLATINUM SOLUTIONS Platinum Solutions is Sun Life Financial s customized team approach for advisors seeking the ultimate partner for insurance cases with $250,000 or more in annual premium. It provides outstanding service, communication and solutions throughout the entire sales process and beyond and is available to all advisors who do business with Sun Life Financial. Contact your RSD for more detail. 12

13 Rewards and recognition ANNUAL RECOGNITION Each year you qualify as a Strategic Partner, you receive a certificate of achievement. You also receive an advisor kit with contact and program information, delivered by your RSD. HALL OF FAME MEMBER REWARD In recognition of their significant contribution to Sun Life Financial, Hall of Fame members automatically receive Select-level membership in the Strategic Partner Program. To reach Premier level, Hall of Fame members require: 75,000 total FYC (i.e., half the FYC normally required to qualify for Premier level). CONSISTENT QUALIFIER REWARD We value advisors who consistently qualify for the Strategic Partner Program. In appreciation of your continued business, when you qualify as a Select- or Premier-level advisor for three consecutive program years, you receive an additional business development allowance. Your 2015 status determines the amount of this allowance. Please contact your firm manager for details. If you qualify for the Strategic Partner Program during 2015, Partner-level benefits (with the exception of the business development allowance) begin the month after you qualify and continue until February 29,

14 Guidelines for using the business development allowance The business development allowance supports activities that have reasonable potential to develop future business with Sun Life Financial. To qualify for the 2015 Strategic Partner Program business development allowance, these activities must: include a business component, occur between March 1, 2015 and February 29, 2016, and be pre-approved by your RSD. Activities covered by this allowance also tend to fall into four categories: 1. Advisor/business promotion 2. Lead generation 3. Client appreciation 4. Professional/educational development 1. ADVISOR/BUSINESS PROMOTION Building and maintaining visibility in your community requires ongoing promotion. Use your business development allowance to cover expenses related to: advertising (newspapers, magazines, radio, television, websites, program ads, etc.), brochures and newsletters, and advisor- or Sun Life-branded promotional items. 2. LEAD GENERATION Growing your client base in a competitive market demands ongoing effort. Your business development allowance is an ideal way to cover costs associated with: trade shows, client seminars and webinars, and direct marketing. 3. CLIENT APPRECIATION Thanking clients for their business can strengthen existing relationships and generate new ones. Your business development allowance can help fund: appreciation events (formally promoted to groups of clients), and sponsorships and charitable giving (where you receive public recognition for your support). 14

15 4. PROFESSIONAL/EDUCATIONAL DEVELOPMENT For many advisors, ongoing training and education are essential to their success and your business development allowance can help. Put it toward: educational seminars related to the financial services industry and professional development, client-oriented events that promote Sun Life Financial products and services, and professional development with The Covenant Group, LIMRA (Trustworthy Selling ), the Self Management Group and Coin Branding. THE COVENANT GROUP This group is highly regarded in the professional development field. They specialize in coaching advisors and organizations in building their businesses, increasing their productivity and growing their market share by improving their practice development capabilities. LIMRA (TRUSTWORTHY SELLING) Trustworthy Selling is a comprehensive sales effectiveness program designed to help you grow your business. It offers in-depth insight into consumer behaviour, buyer and seller psychology, and top agent sales skills, providing an unparalleled approach to effective selling. SELF MANAGEMENT GROUP This group provides state-of-the-art recruiting, team building and business succession tools to help grow your team and business. These tools (e.g., POP TM, AdminPro TM, LeaderPro TM and TeamPro TM ) help you become more aware of your coaching/management style, recruit the right candidates for your business, choose your successors and more. COIN BRANDING Sun Life Financial has negotiated preferred pricing with Coin Branding for a variety of services to breathe even more life into your brand: logos, websites, brochures, headshots and LinkedIn strategy and execution. YOUR BUSINESS DEVELOPMENT ALLOWANCE COVERS MANY EXPENSES. EXAMPLES INCLUDE: Hearsay social memberships LinkedIn profile professional upgrades Professional branding Business card and brochure development Client dinners THIS ALLOWANCE DOES NOT COVER ITEMS SUCH AS: Gift cards Entertainment expenses with no business connection Travel costs to an industry event (such as the Practice Development Summit) Personal travel of any kind Office supplies Technology and software purchase or upgrades (including Smartphones) Day-to-day business expenses Staff training Cash sponsorships/donations with no public recognition Some exceptions may apply and are considered on an individual basis. 15

16 REIMBURSEMENT DETAILS For reimbursement of expenses, please: obtain pre-approval from your Sun Life Financial Regional Sales Director and your manager. submit your expenses through your firm s expense policy. submit the completed form and a copy of your invoice (original or scanned copies) to: Strategic Partner Program Reimbursement c/o Sun Life Financial 225 King St W 3rd floor, 203D10 Toronto, ON M5V 3C5 or scanned copies to spp@sunlife.com. For full reimbursement requirements, please refer to the reimbursement request form. IMPORTANT To ensure timely reimbursement, please include a copy of the invoice and this form. Please submit reimbursement forms by December 10 of the year expenses are incurred. Expenses from a previous benefit period cannot be carried forward into a new benefit period. 16

17 Executive underwriting account As a Select- or Premier-level advisor, you have access to the executive underwriting account (EUA). For clients who require more extensive tests before an underwriting decision can occur, the EUA provides up to $1,000 per advisor annually to access specialized testing. Your dedicated underwriter and case manager arrange for testing to take place at the client s convenience, in their own community, encouraging prompt completion of the underwriting process. EUA CRITERIA AND RULES The policy must have an annual premium of $10,000. Cases previously submitted to other carriers and rated, postponed or declined aren t eligible. The EUA has no cash redemption value. We allocate an amount to your account at the beginning of each year. This amount expires at the end of the calendar year and cannot be carried over into the next year. Only non-invasive medical tests that carry no health risk to the client qualify for this benefit. Your dedicated underwriter makes the final decision on whether the test is appropriate for the EUA. We strive to have tests completed as soon as possible at a location convenient for the client. Ultimately, arrangements are determined by the availability of medical facilities in the client s community. Test results aren t provided to other carriers unless we receive full reimbursement for test costs from the company in advance. To assist in managing a client s care, we can forward test results to the client s personal physician (these results will include a notice about obtaining our consent before releasing them to any third parties). 17

18 2015 benefits at a glance Some provisions/exceptions may apply. Please see full benefit descriptions for complete details. BENEFIT PARTNER SELECT PREMIER BUSINESS DEVELOPMENT Business development allowance Practice Development Summit Marketing Associate Forum Assigned Regional Director and sales associates Access to Directors of Advanced Planning Live webinars with Chief Underwriter Direct access to Affluent Insurance Services Personal invitation to industry event POP TM session with Self Management Group Event planning support OPERATIONAL ACTIVITY Dedicated underwriting support via underwriting team via assigned underwriting consultant via assigned senior underwriting consultant; highest priority on all requests Special underwriting unit case manager Dedicated toll-free support line Priority processing: Applications Service requests In-force illustrations Dedicated resources: In-force contact Claims contact Payout annuities contact Priority APS coordination APS support Trial assessment questionnaire Preliminary underwriting option Executive underwriting account * plus sales associate invitation 18

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20 For more information CONTACT YOUR SUN LIFE FINANCIAL REGIONAL SALES DIRECTOR OR Sun Life Financial is a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under ticker symbol SLF. Life s brighter under the sun Sun Life Assurance Company of Canada is a member of the Sun Life Financial group of companies. Sun Life Assurance Company of Canada, NA-02-15