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Highlights

PPG Newsletter 2016

Jan

Current software version: 32.0

Current software version: Concourse 2.5

Current software version: 2015-3

Current software version: 7.8.2

Current software version: 15.7

Current software version: 9.1

Current software version: 6.8

Current software version: 11.2

(previously Transamerica)

Current software version: Life 15.7

Fusion Menu:6.7

Current software version: 10.2

Current software version: 4.2

Current software version: 4.2

INSURANCE.FINANCIAL.REAL ESTATE

#555-650 West 41st Ave. Vancouver, B.C. V5Z 2M9

“Knowing is not

enough; we must

apply. Willing is

not enough; we

must do.”

- Johann Wolfgang

von Goethe.

Life Insurance Software Update

Important Notice to All AdvisorsImportant Notice to All AdvisorsImportant Notice to All Advisors

Please note that for all Please note that for all Please note that for all SSQ B2B Loan applications, you must put down SSQ B2B Loan applications, you must put down SSQ B2B Loan applications, you must put down “SSQ” in front of the fund code (for example: SSQ +Fund code).“SSQ” in front of the fund code (for example: SSQ +Fund code).“SSQ” in front of the fund code (for example: SSQ +Fund code). ********************************************************************************************************************************************* Effective Sept 15, All applications submitted will require disclosure form. Effective Sept 15, All applications submitted will require disclosure form. Effective Sept 15, All applications submitted will require disclosure form. Applications will be returned to the advisor if no or incomplete disclo-Applications will be returned to the advisor if no or incomplete disclo-Applications will be returned to the advisor if no or incomplete disclo-sure form is submitted.sure form is submitted.sure form is submitted. No medical will be ordered for clients without applications received by No medical will be ordered for clients without applications received by No medical will be ordered for clients without applications received by PPGPPGPPG... Application Date should be dated Application Date should be dated Application Date should be dated beforebeforebefore Medical Completion Date due Medical Completion Date due Medical Completion Date due to privacy disclosure and compliance reason. We should not share any to privacy disclosure and compliance reason. We should not share any to privacy disclosure and compliance reason. We should not share any client info with the paramedical company nor any third party without client info with the paramedical company nor any third party without client info with the paramedical company nor any third party without signed authorization from the client. signed authorization from the client. signed authorization from the client. ************************************************************************************************************************************************ Administrators will not fill in any incomplete information on application Administrators will not fill in any incomplete information on application Administrators will not fill in any incomplete information on application for advisors due to compliance issues.for advisors due to compliance issues.for advisors due to compliance issues. For any applications and correspondences you send to or receive from For any applications and correspondences you send to or receive from For any applications and correspondences you send to or receive from insurance companies, you must also send a copy to Pacific Place at the insurance companies, you must also send a copy to Pacific Place at the insurance companies, you must also send a copy to Pacific Place at the same time. same time. same time. Please keep your own copy of all applications submitted.Please keep your own copy of all applications submitted.Please keep your own copy of all applications submitted. ************************************************************************************************************************************************ 2016 Life insurance agents membership fees will remains the same at 2016 Life insurance agents membership fees will remains the same at 2016 Life insurance agents membership fees will remains the same at $430.00 $430.00 $430.00 ************************************************************************************************************************************************ New version of Agent/Client disclosure form available on VirtGate New version of Agent/Client disclosure form available on VirtGate New version of Agent/Client disclosure form available on VirtGate (Useful link) for download, effective Jan 4, 2016.(Useful link) for download, effective Jan 4, 2016.(Useful link) for download, effective Jan 4, 2016.

Administration Roles and Responsibilities - January 1, 2016 Wayne Yu: Corporate Manager EXT: 231 Yim Yu: Account Manager EXT: 244 Bill Lee: Office Support Pacific Place-Financial Services Inc. (Life Insurance Division) Hendry Liu: Sales Manager EXT: 242 Aries Chen: Assistant Sales Manager EXT: 264 Mimi Sum: New Business: Manulife Life Insurance EXT: 232 Tiffany Tang: New Business: Canada Life, SunLife, BMO and others EXT: 245 Angel Wong: New Business: IA and SSQ; Commission EXT: 249 Karen Yau: Manulife Investment; Contracting EXT: 235 Mable Wong: Policy Service; Travel Insurance EXT: 225 Pacific Place-Insurance Services Inc. (General Insurance Division) Shelley Lin: PPIS Manager; House Renewal EXT: 226 Eileen Zeng: New Business: House and Commercial EXT: 247 Kate Zhang: New Business: Condo; House Endorsement & House Claim EXT: 228 Angus Yiu: ICBC EXT: 274 Victoria Ng: ICBC and renewal (Only Saturday 10:30– 3:30) EXT: 239 Pacific Place-Arc Realty Ltd. (Real Estate Division) Lo-Ming Lee: Managing Broker EXT: 233 Charles Chan: Consultant Annie Wong: Real estate conveyancer EXT: 221 Lauren Zhu: Real estate conveyancer EXT: 241 Pacific Evergreen Realty Ltd Lo-Ming Lee: Managing Broker EXT: 233 Charles Chan: Consultant Annie Wong: Real estate conveyancer EXT: 221 Lauren Zhu: Real estate conveyancer EXT: 241

Pacific Place Group Administration Roles & Extensions

FEE SCHEDULE (REMINDER)

All Insurance Advisors/Real Estate Agents

1.) NSF Cheque : $50 / cheque 2.) Stop Payment/Re-Issue or New Cheque Re-Issue : $50 / cheque 3.) Opening of Mailbox : $25 / each time * * Please obtain a replacement key from the office if you have lost your key. 4.) Mailbox Key Re-Issue : $50 / each 5.) Key Card Re-Issue : $50 / each 6.) Late fees on invoices after 5pm on the due date : $25 or 5% - The greater amount will be added on a daily basis. Insurance Advisors: Life / Health / Travel illustrations created by admin staff : $25 / each* * Free if created by Hendry Liu, Aries Chen or Wayne Yu Real Estate Agents:

To comply with advice from the Council, deposit cheques have to be sent out to Buyers’ lawyer two weeks before Completion. Any transaction has to be dealt with right away, thus all other matters have to be put aside. Therefore, additional fee for contracts re-ceived with less than 14 days left to completion (to be continued on the next page)

FEE SCHEDULE (REMINDER)

$50 - 8-13 days before completion, $100 - 7 or fewer day to completion If completed contracts or documents CANNOT be received 14 days before the completion, $50 rush fee may apply, even though part of the contract or documents received more than 14 days before completion. Major changes with 14 days or less remaining before completion: $50 - changes such as but not limited to changes of lawyers, credit to buy-ers, changes requiring issuing of trust account cheques. Deal fee for referral deal: $150 - more than $ 1,000 referral fee, $100 - less than $ 1,000 referral fee

Monthly charges/ payments due to the office are required to be submitted by 5:00 PM on the 1st business day of each month. $25 or 5% - whichever is the greater amount will be added on a daily basis. If you will be away when the payments are due, please leave an advance payment or postdated cheque. *** Please note that all commission cheques shall be issued 3 days after

the transfer of property or after the commission cheques are received from

lawyers’ office or other brokerages. Commission payment will be made to

realtors on the Wednesday or Friday following the issue date each week.***

Life Insurance Updates

InsureNOW™ & insureNOW™ Plus - Term to Age 651 InsureNOW and InsureNOW Plus are fully guaranteed non-participating Term to Age 65 plans with level coverage and premiums to Age 65. It’s affordable coverage that is easy to understand and does not require a medical exam to apply. Designed for individuals between the ages 18-49: InsureNOW offers term life insurance coverage to Age 65, plain and simple. InsureNOW Plus offers term life insurance to Age 65 plus accelerated living benefit insur-ance which includes critical illness and accidental disability insurance all on the same plan. If a critical illness or accidental disability claim is paid, the sum insured reduces by the amount of the claim payment, and life only coverage continues to Age 65. The new pre-mium payable after the Living Benefit claim will be calculated based on the reduced sum insured. For clients that require permanent life protection beyond Age 65; both insureNOW and in-sureNOW Plus plans offer an Extended Life Benefit Option for an amount equal to 25% of the sum insured inforce at Age 65. This option must be selected at issue and premiums are payable to Age 65. 1 Policy anniversary nearest the insured’s 65th birthday

Life Insurance Updates

Updates on term life insurance rates

The issue with the Canada Life term 10 and 20 life insurance rates, launched Nov. 23, is now cor-rected in our administrative systems and New Business Now. The rates still need to be corrected in Concourse (version 2.5). This correction is planned for the week of Dec. 21. Term 10 and term 20 life insurance contracts now being issued with new rates Term life insurance policies that were being held since Nov. 23 until the rates were fixed are now being issued. There may be a slight delay in contract audit while we work through these policies. Policies issued and printed between Nov. 23 and Dec. 1 (inclusive) – What happens next? Policies that were issued and printed with incorrect rates are in the process of being identified. If you have an affected policy, Canada Life will contact you as soon as possible to let you know. • If an affected contract was already mailed to you, you will be mailed a new, corrected contract. • If you have already delivered a contract to the client, you will need to exchange the new contract

we mail you with the original – it is important you receive the original contract back from the cli-ent and destroy it appropriately.

• If you’ve already been paid, you may receive a small compensation adjustment. Please note that the Full Application Summary Report (FASR) will still include the incorrect premi-ums for applications submitted between Nov. 23 and Dec. 1, even though the policy will be issued with correct premiums. The FASR cannot be altered once created. As of Wednesday, Dec. 2, the Advisor Summary and FASR have been corrected and now state the correct premium on all poli-cies issued Dec. 2 and after. Nov. 23 software version 2.5 must be installed in preparation for upcoming update This subsection only applies to those whose software is not automatically downloaded and in-stalled. Updated software will be released the week of Dec. 21. You must install version 2.5 of Concourse – launched on Nov. 23 – before downloading the December update. If you haven’t already in-stalled this software, please view the software launch email sent Nov. 23. Concourse CD updates will be distributed in Jan. 2016. Please keep your copy of the version dis-tributed the week of Nov. 23.

Life Insurance Updates

Disability insurance rate update – some marginal increases

The reprice communication sent in November indicated that disability insurance rates for Lifestyle Protection Plan decreased; however, some rates did experience a marginal in-crease. We apologize for any inconvenience due to this miscommunication. Overall, female non-smokers in occupation classes 3A and 4A without the future insurability op-tion (FIO) rider are the most common instances where we have seen rate increases. The rate increase is not attributed to one factor (such as gender or age), but depends on multiple factors. Roughly 10 per cent of rates increased, while 90 per cent either remained the same or de-creased. Even with these increases the rates remain competitive. The average decreases reported for all occupation classes in the reprice supporting document are still accurate. You may notice the strongest decrease in rates among smokers, males, lower occu-pation classes and plans with the FIO rider. As originally intended, the new disability insurance benefits and overall rates implemented on Nov. 23 still help position us competitively in the marketplace. If you have any questions, please contact your MGA, branch office or your local regional marketing centre.

Submitting new term 10 and term 20 life insurance business before Concourse is updated

Until the illustration software is updated, continue using the new software (version 2.5 released Nov. 23) to quote term 10 and term 20 life insurance. Help set client expectations by indicating that when the policy is delivered, the premium will be the same as or slightly lower than the origi-nal quote. The premiums from illustrating the following face amounts for standalone standard term 10 and term 20 life insurance policies are correct in the majority of cases. There are some instances where the policy may decrease once the policy is issued. Therefore, these face amounts could be considered correct with very few exceptions. In those exceptions, the decreases are expected to be quite minimal:

• $100,000

• $250,000

• $500,000

• $1,000,000

Term life insurance riders on universal life insurance and participating life insurance at these face amounts are inaccurate. Rated standalone term life insurance cases at these face

Life Insurance Updates

Rate Fix Pending for New Term 10 and 20 Life Insurance Products and Riders

There is an issue with the recently released term 10 and 20 life insurance rates which

needs to be corrected in Concourse (version 2.5).

Products affected:

Simply Preferred term 10 and term 20 life insurance

Universal life insurance term riders

Participating life insurance term riders

Next steps

Stopping mailings for issued policies with incorrect rates – We’ll be updating the rates on

the administrative system as soon as possible. Until then we will hold policies with incorrect

rates. Once the rates on the system are updated, we’ll issue any policies withheld and reis-

sue policies that were affected by incorrect rates. If you receive a policy and believe the

rates are wrong please contact your New Business associate to confirm.

Correcting the illustration software – We’re working on fixing the software as quickly as pos-

sible. We’ll keep you informed about when updated software will be available. We will also

share information about alternatives for providing clients accurate quotes or illustrations.

If you have questions, contact your New Business associate. They are aware of this issue

and will do their best to help address questions.

Life Insurance Updates

Corrected term life insurance rates – software update available Dec. 18

An updated version of our illustration software Concourse (2.5) is now available.

What’s new

The update will correct term life insurance rates, allowing you to run correct illustrations. In

an effort to fix term life insurance rates as quickly as possible, we reinstated policy fees and

reactivated the multi-policy benefit check-box. All intended term life insurance rate de-

creases were maintained.

Get the update

To get the update, you’ll need to have the Nov. 23 version of Concourse (2.5) installed

first.

If you haven’t installed the Nov. 23 version you must download and install the November update

first.

If this has already been done, you can download the December update now.

Note – The version number (2.5) will not change with the December update.

How to verify if you have the latest version

Run a term 10 life insurance illustration for a male non-smoker, age 30, standard risk, with no multi-

policy benefit, applying for a face amount of $2,000,000.

If you have the latest Dec. 18 version, the annual premium will be $1,020.

If you still have the Nov. 23 version, the annual premium will be $1,040.

If you have version 2.4, the annual premium will be $1,080. If this happens, download and in-

stall the Nov. 23 version before downloading and installing the Dec. 18 update.

For users with limited Internet access, updated software CDs will be available in January,

2016. For complete details about the software updates, this information will be available

next week on RepNet.

Life Insurance Updates

Reminder – Old applications will not be accepted

after January 30, 2016

Effective October 19, 2015, changes were made to many applications and it is important to

use the most current version.

Updated online versions of the documents can be obtained on RepNet. If you use paper

stock, please discard outdated versions of the applications and obtain updated stock from

your office.

We originally communicated that the deadline for accepting applications with edition dates

earlier than 10/15 was December 18, 2015. We have extended the deadline and these

applications will now be accepted until January 30, 2016.

Application Name Form number

Application for registered policy 46-9608

Application for non-registered Policy 46-9609

TFSA application 46-7305

Application for income annuity 46-8965

HelloLife enrollment form 46-9603

Estate protection 46-7168

CAP application 82 CAN

GenerationsTM

148 CAN

Application instructions for Nominee/Intermediary plans with Canada Life

46-7296

What’s up with Living Benefits?

As part of our commitment to you and our living benefits insurance business, we’re pleased

to announce commission improvements for select living benefit products. Effective January

23, 2016, we’re enhancing commissions for:

Critical Illness - Lifecheque

For all Renewable to Level coverage type changes completed on or after January 23, 2016,

commission rates, recognition credits and override credits will no longer be based on the cli-

ent’s age. Refer to the Commission Schedule for full detail.

Disability - ExpenseComp

We’re also making a significant improvement to ExpenseComp commission for new cover-

ages dated January 23, 2016, or later. This improvement will better align ExpenseComp with

Proguard and Venture Series. Refer to the Commission Schedule for full detail.

Resources:

An updated version of the Commission Schedule will be available January 23, 2016. (You

must be logged into Repsource to view.)

Questions

For questions about the living benefits enhancements described above, please contact your

Manulife sales representative.

Life Insurance Updates continues Life Insurance Updates

Help your clients score 3.00% interest

Get your clients’ savings off the bench and into the game with 3.00% interest

It’s game time! That’s right, it’s RRSP season. And this year Manulife Bank is going pro with

a rate that’s among the greats.

Your clients can score a high 3.00% interest rate through May 31, 2016 on every net new

dollar they add to a Manulife Bank Tax-Free Advantage Account or Registered Advantage

Account by March 15, 2016.1

Program details - How it works

Interest rate 3.00%

Offer summary Limited time offer for net new deposits made from December 1,

2015 to March 15, 2016. Interest is earned through May 31, 2016

Eligibility

New and existing Tax-Free Advantage Account and Registered Ad-

vantage Account clients Deposits must be net new to a Manulife Bank Tax-Free Advantage

Account or Registered Advantage Account

How to apply

Applications must be received and accepted by Manulife Bank from

December 1, 2015 to March 15, 2016

For new Tax-Free Advantage Account and Registered Advan-

tage Account clients:

Open the account using BankLink or complete and submit the Tax-

Free Savings Account Application (AB0490) or the Retirement Sav-

ings Plan Application (AB0154)

For existing Tax-Free Advantage Account and Registered Ad-

vantage Account clients: Make a deposit to the Tax-Free Advantage Account or Registered

Advantage Account

Questions?

Program FAQ

Terms and Conditions

Life Insurance Updates continues Life Insurance Updates

Life Insurance Updates

IMPORTANT MESSAGE: Issues regarding commissions and FundSERV files (investment products)

ISSUES REGARDING COMMISSIONS

As you know, on November 9, 2015, SSQ implemented a new system to manage its invest-ment products, and adjusted its commission system. Unfortunately, we are currently ex-

periencing certain issues with the calculation of commissions.

Trailer fee commissions (all agencies)

Problems occurred with the commission payment for November, for some sums in-vested with the no-load – Mode B sales charge option. The High Yield Account was not paid and some Guaranteed Interest Accounts (GIA) were paid twice.

These amounts will be paid on January 11, in a separate payment from the December

commission payment.

Life Insurance Updates

Life Insurance Updates

EquiBuild Universal Life Policy – Product Summary

Life Insurance Updates

You Asked, We Listened … Introducing RBC YourTerm!

We at RBC Insurance® are pleased to provide you with advance notice of a brand new product coming to the term market in January 2016.

New Product Launch – RBC YourTerm This exciting new product launch will complement our existing life portfolio by bringing RBC YourTerm™ to the market, making it available alongside our traditional Term 10 and Term 20 products. Some of the product highlights include:

Clients will have more choice by allowing them to select any term between 10 to 40

years based on their specific needs

Partial exchanges and conversions will become contractual on the RBC YourTerm product as well as on our traditional term plans

Enhanced exchange option on RBC YourTerm will allow clients to exchange to RBC YourTerm15, 20 or even 30

RBC YourTerm riders with multi-life functionality Continued commitment to remain competitively priced among the top 3 competitors in

our target market Competitive Compensation RBC YourTerm will offer competitive compensation both with First Year Commission (FYC) and renewals. An updated compensation schedule will be available upon launch.

Term Renewal Offer For existing RBC Insurance Term 10 clients whose policy is due for renewal, a special offer based on their age and face amount will be made to them.

Base Policy FYC Years 2-5 Years 6+

Term 10 – 14 Term 15 – 17 Term 18 – 19 Term 20 – 40

45% 5% 3% 46.5% 5% 3% 48.5% 5% 3% 50% 5% 3%

Real Estate Updates “NO SUBJECT CLAUSE” CONTRACTE OF PURCHASE & SALE

The Risks of a "no subject Clause" contract

A "no subject clause" contract will have the legal effect of creating an immediate

binding contract between the buyer and the seller.

Back-off from the contract for whatever reasons is a breach of contract, thereby

giving the aggrieved party the right to sue against the party who is in breach of

the contract.

The normal remedies at law are suing for damages and/or specific performance.

As such, agents should take extra care when drafting a "no subject clause" con-

tract on behalf of your buyer.

Reason: Selling agents are real estate professionals. Your buyers will tempt to lay

all the blame on you for your failure to provide them with the correct advice,

thereby leading to their legal and financial losses.

The normal subject clauses on the contract of purchase and sale are:

(1) Finance - mortgage with access for appraisal report;

(2) Home Inspection;

(3) Property Disclosure Statement;

(4) Environmental Concerns;

(5) Form B and other related documents;

(6) Land Title Search; and

(7) Legal Advice

Buyers should be advised to insert the appropriate subject clauses on the contract

with a view to protecting their interests and to providing them with a suitable

cooling-off period.

If your buyer has decided to submit a "no subject clause" offer, make sure that

you have stated in the contract your buyer's reasons and the advice that you have

provided to your buyer in this aspect.

Real Estate Updates Realtor Code — Articles

Article 20: Respecting Contractual Relationships

The agency or other-contractual relationship of a Registrant shall be respected

by all Realtors

Negotiations regarding an offer of the acceptance of an offer with any party

who is exclusively represented shall be carried on with the Registrant repre-

senting the party except with the consent of the Registrant.

20.1 A Realtor should not in any manner, by specific direction or suggestion,

advise a party to a contract that the party should attempt to breach the con-

tract.

20.2 Prior to the expiry of an existing listing/buyer agency agreement, a Real-

tor may enter into a listing agreement with a seller for the same property or a

buyer agency agreement with the same buyer provided the following conditions

are met:

(a) Any communication with the seller/buyer: (i) may be initiated by the

seller/buyer; or (ii) if initiated by the Realtor must comply with Board Bylaws/

Rules concerning solicitation and any applicable provincial or federal legisla-

tion or regulation; and

(b) any new listing agreement for the property or buyer agency agree-

ment with the buyer shall not commence until the expiry of the current list-

ing/buyer agency agreement.