Hindsight is always 20/20

by Andrew Murray

Performins Canada Inc.

We all have had, more lately, issues getting clients in the 50+ age range insured at standard rates. We have an advisor who has turned sub-standard ratings into sales. Many clients in the 50+ age group have young adult children 20-30 year old range. The advisor mentions to the rated client, “wouldn’t it have been nice if someone had recommended $50,000 of permanent coverage to you when you were in your twenties?” Most clients will agree… (hindsight is always 20/20).

The advisor asks to speak with these young adult children with a strong recommendation from their parents….BINGO, a nice sale and a new client to prospect additional sales and services to in the future.

Young clients turn into additional new sales, conversions and estate planning.

Andrew Murray is Business Development Director at Performins Canada Inc.

For questions, comments and feedback: email: a murray@performins.com.

Happy American Thanksgiving!

by David Stewart

Performins Canada Inc.

As we enter into the American Thanksgiving and we see our neighbours to the south enter into a frenzy of Food, Football and Shopping, one has to be reminded of the importance of family and tradition.  I, for one, envy the American Holiday.  This weekend will be the most travelled weekend of the year as families make pilgrimages’ home to see Moms and Dads, Brothers and Sisters, Nieces and Nephews.

Family is first and foremost the cornerstone of our society.  Like life, families are a good snapshot of what we all face in our day to day travels.  Families are caring, communal and concrete in their love for one another.  At the same time, they create wild drama, pressure and competition amongst themselves and others.

One must also remember that Family is not just the genetic lottery that you are born into.  Perhaps more importantly, it is the family that you surround yourself with throughout your lifetime.

At Performins Canada we are a business, an enterprise that exists for profit and works diligently to be a productive corporate citizen.  What we are most proud of, however, is not the bottom line, but the family that helps us to get there.  Our advisors are more than a revenue generator for the firm, they are our extended family. Our purpose is to ensure that Canadians receive the quality advice and direction they so richly deserve.  After all, when one family helps another, it leads to a community.  Strong communities create strong societies.  Don’t get me wrong, we are not perfect; we do stupid things, make mistakes and can generally screw up.  Thankfully, it appears we do more for our family that works than does not.  So today, I am thankful for all of my family and the satisfaction, success, and serenity that have been bestowed.

So although we may not be enjoying any deep fried turkey, turducken, Thursday and Friday Football, or standing in long lines at the mall, I wish all Canadians a gift of thanks for their families and all that they do to make Canada the best country in the world.

David Stewart is the President and COO of Performins Canada Inc.  

For questions, comments and feedback: email: dstewart@performins.com.

CLASS PLUS –DEPOSIT LIMITS
FREQUENTLY ASKED QUESTIONS (FAQ)

For advisor use only November 19, 2012

1. What is happening to Empire Life Class Plus®?
Empire Life Class Plus (Fund Class G and H) is the last remaining 5% at age 65 Guaranteed Minimum Withdrawal Benefit solution available without restriction today. This circumstance has recently fuelled a spike in demand and as a result, Empire Life is limiting deposits to Class Plus for the remainder of 2012.
Effective Monday, November 26, 2012:

1. Existing Class Plus customers: Customers who have already invested in Class Plus will be allowed
   to deposit up to $50,000 to Class Plus until the end of the year. This deposit limit excludes any th
   
2. New Class Plus customers:
   
   1. a)  Customers who have an Empire Class Segregated Fund Contract but have not invested in
      Class Plus funds will be permitted to make deposits to Class Plus, subject to the $50,000
      deposit limit for 2012 and the $10,000 minimum for Class G.
      
   2. b)  New customers will be permitted to open a Class Plus policy, subject to the $50,000 deposit
      limit and the $10,000 minimum for Class G.
      

Deposits made to Class Plus include new deposits and switches into Class Plus from Class and/or Elite/Elite XL, in accordance with our switch rules.

2. What happens to the Class Plus deposit limits in 2013?
We will continue to monitor the demand for Class Plus. Should we need to limit deposits in 2013, we will advise you prior to January 1, 2013.

3. How are you communicating to customers?
We will post an announcement regarding the Class Plus deposit limits on the public website on November 19, 2012. As this change does not affect the guarantees or the features of Class Plus, we will not be mailing letters to customers.

4. Will there be an amendment to the Empire Class Segregated Funds Information Folder or Contract Provisions?
An amendment is not necessary as this is not a contractual change.

5. Can customers still invest in Fund Class H funds for the first time, even though the deposit limit is $50,000?
No. Unfortunately, the deposit limits mean that if customers have not yet invested in Class H funds they will not be able to do so this year after 4:00 pm ET, Friday, November 23, 2012. If customers are invested in Fund Class H by 4:00pm ET, Friday, November 23, 2012, they are permitted to make additional deposits subject to the $50,000 limit for 2012.


6. My client is currently transferring funds into Class Plus from another institution. Will you accept the transfer?
If the T2033 (or equivalent transfer form) and the Empire Class Segregated Fund Application for Class Plus, are received in good order at Empire Life c/o Citi (Mississauga, Ontario) on or before 4:00 pm ET, Friday, November 23, 2012, the transfer will be accepted, provided the funds are received by February 23, 2013.

Additional deposits to Class Plus (excluding the transferred amount) will be subject to the $50,000 deposit limit for 2012.

7. What happens if the transfer is an amount in excess of $50,000?
If the T2033 (or equivalent transfer form) and the application for Class Plus are received in good order at Empire Life c/o Citi (Mississauga, Ontario), on or before 4:00 pm ET, Friday, November 23, 2012, the transferred funds will be accepted in 2013, even if the amount exceeds the $50,000 limit, provided the funds are received by February 23, 2013. Please note that Empire Life’s regular depository review (i.e. large deposit review and limitations) will be applicable.

Any subsequent deposits in 2012 (excluding the transferred amount) will be subject to the $50,000 deposit limit starting on November 26th.

8. Do Pre-Authorized Deposits (PAD) count towards the $50,000 limit for Class Plus?
Yes. The $50,000 limit for the remainder of the year includes PADs.

9. If Class Plus customers don’t have an existing PAD, can they still establish one?
Yes, but starting on November 26 , they will be subject to the $50,000 deposit limit for the remainder of
2012.

10. What is happening to the other Empire Class Segregated Funds (Fund Classes B, C, D and E)? Can customers still invest in those Funds?
Yes. No changes are being made to Fund Classes B, C, D and E and they are still available as investments for customers. These Fund Classes are not subject to the Class Plus $50,000 deposit limit.

11. Can Empire Life limit deposits to Empire Class Segregated Fund contracts?
Yes, Empire Life has the right under the Contract to refuse or limit the amount of deposits.

12. Who can I contact to find out more about these changes?
Please contact your regional sales representative or call our client services representatives at 1-888-698-5554.

13. What are you announcing in early December?
Empire Life is committed to offering a guaranteed income solution to your clients. An announcement will follow in early December containing exciting details on the launch of Class Plus 2. 

Empire Life Notice of Class Plus Deposit Limits

From a different set of eyes...

by Denise Vitellaro Turner, Hon. B. Comm., CHS

Performins Canada Inc.

Today was a good day.  Seven hours in a boardroom with Stephanie Holmes-Winton of The Money Finder Bootcamp and several of our advisors, talking about debt & cash flow management and how 70% of Canadians view debt reduction as their top priority but only 10% are actually doing something about it.  What!  For real, only 10%?  It was an eye opener for sure but you have to ask,  why only 10%?  Are we not doing our job as planners, advisors, agents, brokers?

Most of us ask our client's to complete a monthly budget detailing what they make against what they spend so we know how much they can afford on insurance premiums or retirement investing, but more often than not, they don't declare the whole truth.  I'm not suggesting client's purposely lie,  I'm suggesting that debt is a topic most people are not comfortable with.  Maybe it's denial, fear, regret or ignorance or maybe we as advisors are not addressing debt management effectively enough with our clients (if at all). 

I experienced cash flow management from a different set of eyes today.  So simple ... spend 20% of your net income on expenses that are strongly influenced by emotion (hobbies, latte's, vacations, eating out etc.) and the rest will work out itself, leaving you debt free and on your way to a happy retirement far sooner than you ever dreamed.    Ok, so this is the simplified version of a seven hour session but the point is, client's have a set amount they can spend on whatever they want and not feel guilty doing it and still meet all their financial goals.   They can still live the life they want, within their means.

Simple and manageable, don't you think?  I believe it's genius! 

Denise Vitellaro Turner, Hon. B. Comm., CHS is AVP for Sales & Business Development at

Performins Canada Inc.  For questions, comments and feedback: email: vitellaro@performins.com.

Equitable Changes to Universal Life & Critical Illness Insurance plans effective December 3, 2012

Due to the continuing low interest rate environment, Equitable Life is 

making changes to its universal life and critical illness products.

Equation Generation IV Universal Life
Increased minimum premium rates and Cost of Insurance (COI) 

charges for Level COI.

EquiLife Limited Pay Universal Life
Increased premium rates and COI charges for all COI types.

EquiLiving Critical Illness Insurance
Increased premium rates for Level to age 100 and Level to age 75 plans, 

Return of Premium on Surrender/Expiry Riders (ROPS) and Return of Premium 

on Death Riders (ROPD).   

Transition Rules

For more information on these changes and how applications will be processed, 

refer to theTransition Rules (français).

Sales Illustration Software

The updated illustration software will be available for download after 9:00 a.m. EST 

on Wednesday, November 28, 2012. 

Questions?

Contact your Equitable Life Regional Sales Manager or the Regional Office nearest you.

Desjardins Investment Changes - GLWB

With introduction by Jonathan Mullett BA, Performins Canada Inc.

So….some of us have been there…you know – the meeting where you closed the deal, took the app, and submitted it only to find out LATER that the policy you just sold is no longer available, or rates have changed.  This is where we come in J.  We’ve been sending out more announcements than usual lately because there have been more product/industry changes that are very important to note.  We’re trying different ways to get the news across (Performins Blog, Email Blasts, Coaching Days, Weekly Seminars, Twitter, Facebook, etc...).  Below is the recent announcement regarding Desjardins Investment changes. Regards, Jonathan

Jonathan Mullett is Inside Sales Coordinator at Performins Canada Inc.  For questions, comments and feedback, email: jmullett@performins.com.

End of $25,000 Additional Deposits: December 21, 2012 For Contracts with Guaranteed Lifetime Withdrawal Benefit (GLWB) – Version 2

As you know, Desjardins Financial Security closed the GLWB – Version 2 on April 27, 2012. At that time, a $25,000 maximum for additional deposits was put in place. However, given the escalation of economic and regulatory pressures, at the end of this year, Desjardins Financial Security will be changing the administrative rules for the GLWB – Version 2 and will no longer accept additional deposits.

From now until December 21, you can continue to make Additional Deposits up to the $25,000 limit to the GLWB – Version 2. The cut-off time for all new deposits is 4:00 p.m. EST on December 21, 2012. After that, no further deposits will be allowed. 

This new deadline of December 21 was chosen to allow time to settle all trades (except pending transfers) before the year-end closing date. Pending transfers will be accepted until March 22, 2013 as long as the appropriate documents are duly completed, signed and received before December 21, 2012.

You’ll likely have questions about how this change applies for your clients. A Q&A document is attached with this message, detailing what you need to do to ensure that your clients’ additional Deposits are processed properly and who to contact for support. The Q&A will be posted in Webi next week.

Rest assured, we will continue to offer the Helios Contract and the Core Guarantees remain unchanged. One of our Core Guarantees – the Guarantee 75/100 i – provides annual Death Benefit resets, making it the only GIF contract that protects against inflation!

We appreciate your continued support as we reinvent our guaranteed investment products to deliver great value for your clients in today’s challenging market conditions.

It's that Time of the Year

by Perry Villanueva
Performins Canada Inc.

Now that Halloween is over & Obama got another 4 years in office, it is about time to start planning for Christmas.  Who actually does that? NOT ME!

It's the year end and I am thinking about next year.  What am I going to do, Who and How am I going to do it with, and more importantly, Why?  This is suppose to be down time since I should have achieved what I planned to do this year.  So I start thinking again.

The only consistent thing in life is change and while you do not fix what is not broken, you improve on them or at least try to.  Now is the time to rethink what needs to improve in your businesses and determine who can help.  At Performins, we pride ourselves of the vast industry knowledge we offer to brokers serious to be better.  Tell us how we can help, we surely would.

Perry Villanueva is AVP for Sales & Training at Performins Canada Inc.  For comments and feedback on his blog, email: pvillanueva@performins.coms.

The Results are out for the Summer Sizzler Campaign. CONGRATULATIONS!

First Prize - Madelyn Acena-Costales

Second Prize - Judith Martins

Third Prize - Herb Myles

First Prize - Grant Manning

Second Prize - Julian Wise

Third Prize - Shahin Sohrabi

Stephen Toale

Rosa Marie Nagallo, Alma Soliman, Nandy Forte and Richard Bersamin

Felix Winstok

First Prize - Brian Shumak

Second Prize - John Cruise

Third Prize - Louie Carnavale

First Prize - Kevin Riddell

Second Prize - Bob Kirk

Gaudencio David Jr., Brian Kelly, Wayne Nelson, Michael Williams, Tomas Kayser,

Fabian Giusti, Bonnie Sheriff, Tatyana Subbotina and Jackie Porter.

THANK YOU FOR MAKING 2012 SUMMER SIZZLING CAMPAIGN A SUCCESS.

Your prizes will be sent to your offices by mail. 

Feel free to contact us at Toll Free 1-888-651-1955 for assistance.