2 0 1 4 C O M P L E T E R e f ere n ce g u i d e The 2014 Strategic Partner Program Sun Life Financial’s Strategic Partner Program (SPP) is an exclusive club, offering unique benefits and enhanced service to recognize our leading independent insurance advisors. As a member, you have access to benefits that can help streamline your administration and get your new business issued promptly. 3 Benefit period 3 Eligibility 3 Qualification criteria 6 Benefit descriptions 11 Reward and recognition 12 uidelines for use of the business G development allowance 14 Executive underwriting account 16 2 dvisor attending physician A statement (APS) ordering criteria Benefit period The Strategic Partner Program is a calendar year program. Members are added or removed at the beginning of the year and benefits are provided for the entire year. Advisors can qualify anytime throughout the year for the Partner benefits. These benefits are available in the month after qualification for the remainder of the year. For example, if an advisor qualifies in June 2014, Partner benefits are provided until December 31, 2014. A qualification audit will be conducted at the end of 2014 to determine the level an advisor qualifies for in 2015 based on a full year of production in 2014. 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 year. Year-end appeals are only considered in unusual circumstances. Eligibility Strategic Partner Program benefits are available to all advisors who do business with Sun Life Financial. MGA principals and National Accounts firms are required to provide approval for the advisors or specialists in their firm to participate in the program. Business is calculated on an individual basis only. Split cases and combined business situations will be reviewed on a case-by-case basis. Qualification criteria The qualification structure Our tiered design allows you to access three levels of benefits. The structure recognizes the overall and strategic business you bring to Sun Life Financial. Partner status You can enjoy all of the exclusive benefits and services associated with the first level of membership. SELECT status You are part of a select group and are entitled to all of the partner benefits as well as additional rewards and recognition. For example as a Select member, you’re invited to the Practice Development (PD) Summit* and your Marketing Associate is invited to the Marketing Associate (MA) Forum.* You also receive a business development allowance* and can access the executive underwriting account. Premier status You’ve reached the top level and we want to recognize you as one of the best. As a Premier Strategic Partner, you receive all Partner and Select benefits, as well as a larger business development allowance and a higher reimbursement for professional development with The Covenant Group. *Insurance Specialists for IIROC firms need to speak to their Firm Managers about Practice Development Summits, Marketing Associate Support Programs, and Business Development Allowances and how these benefits will apply. 3 The NEW credit system Placing your business with Sun Life Financial has never been more strategic – for both you and your clients. Our complete product shelf provides your clients with more choice and flexibility from a strong and stable company they know and trust. We determine membership by the amount of credits earned on the sale of life and living benefit products. LIFE credits Health Credits 1 credit (Earned per $ of FYC sold) + 1 credit (Earned per $ of FYC sold) SunTerm Sun Lifetime Alternative Sun Par Protector SunUniversalLife Sun Critical Illness Insurance Sun Par Accumulator Sun Limited Pay Life Personal health insurance Sun Long Term Care Insurance Health Coverage Choice Sun Retirement Health Assist = Tota l credits Base qualification criteria Qualifiers must place a minimum of five insurance cases throughout 2014 and meet the required credits in order to qualify for the Strategic Partner Program in 2015. Partner* Select Premier 50,000 total credits 90,000 total credits 150,000 total credits * If an advisor qualifies during 2014, the Partner level benefits are provided immediately for the remainder of the year. 4 MAC qualification criteria Total credits Premier MAC size 1 qualifier 2 qualifiers 3 qualifiers 4 qualifiers 2 members 225,000 300,000 3 members 300,000 375,000 450,000 4 members 375,000 450,000 525,000 600,000 MAC size 1 qualifier 2 qualifiers 3 qualifiers 4 qualifiers 2 members 135,000 180,000 3 members 180,000 225,000 270,000 4 members 225,000 270,000 315,000 360,000 MAC size 1 qualifier 2 qualifiers 3 qualifiers 4 qualifiers 2 members 75,000 100,000 3 members 100,000 125,000 150,000 4 members 125,000 150,000 175,000 SELECT PARTNER 200,000 Three-year qualification criteria Three-year qualifications for the 2015 Strategic Partner Program are based on the total credits you earned during 2012, 2013 and 2014. To qualify for any of the given levels, you must meet the minimum requirements identified in the chart below. Premier Total credits (TC) during ‘12, ‘13, ‘14 Case count in 2014 Minimum Total Credits in 2014 450,000 5 minimum 75,000 Total credits (TC) during ‘12, ‘13, ‘14 Case count in 2014 Minimum Total Credits in 2014 270,000 5 minimum 45,000 Total credits (TC) during ‘12, ‘13, ‘14 Case count in 2014 Minimum Total Credits in 2014 150,000 5 minimum 25,000 SELECT PARTNER 5 2014 benefit descriptions PARTNER Level Dedicated toll-free support line Improved Priority application processing All applications received from Strategic Partners are immediately flagged for front-of-the-line service throughout the entire new business process. Access to Directors of Advanced Planning At Sun Life Financial, we’ve developed insurance products and concepts that help solve the financial needs of clients in the affluent and business markets. Identifying the needs and designing solutions in these complex markets often requires the services of skilled tax and legal professionals. That’s why our Strategic Partners have access to Sun Life Financial’s directors of advanced planning (DAP). DAPs provide priority service and ongoing support on all aspects of the insurance solution being considered. From technical questions and opportunity analysis to case development and consultation, our knowledgeable experts are ready to help. Direct access to a team of underwriters Strategic Partners will be assigned to a team of underwriters for direct advice and consultation on non-routine questions. You’ll receive a written decision on each case and a member of the underwriting team will call you directly to discuss non-standard decisions on cases where we’re not able to issue the policy as applied for. This provides rationale for you to assist in positioning the discussion with your client. NEW 6 With our exclusive toll-free support line, Strategic Partners have a single entry point providing them with a superior customer service experience. You can count on: • Superior customer service – Interactions are managed by a large team of experienced customer care specialists. • Identification and prioritization – Calls are identified and flagged for priority handling. • Directory service – Quick access to dedicated contacts for escalations with the new directory option. Special underwriting unit case manager In addition to front-of-the-line service, this role was created to provide dedicated case management for new business submitted by our Strategic Partners. The case manager works closely with dedicated underwriters to provide priority service and help move the applications through the process quickly. Senior in-force support specialist A dedicated senior in-force support specialist has been assigned to each Strategic Partner for quick and easy servicing of their in-force business. This person will work with the Strategic Partner and Marketing Associate on any requests in their areas of expertise after the clients’ policies have been issued. Dedicated claims contact When your clients are in the position of having to make an insurance claim, helping them navigate through this emotional process quickly and easily is important. To aid in this, we assign a dedicated claims contact to each of our Strategic Partners to assist you with your clients’ death, critical illness and long-term care claims. Dedicated contact for payout annuities Strategic Partners are assigned a key contact in the payout annuities area. These key contacts will provide large case quoting services, guidance on running self-service quotes, and overall assistance during the end-to-end new business process. PARTNER Level Customer relations direct line Customer relations will provide Strategic Partners with assistance for challenges not resolved through normal service channels, or for direction on where to go for support. Dedicated sales support A dedicated sales support team member has been assigned to each Strategic Partner for immediate assistance or if you can’t reach your Regional Sales Director. This personal contact will assist Strategic Partners and Marketing Associates with a variety of requests regarding marketing allowance, current standings or help contacting one of our dedicated service team members. NEW Exclusive web access for tele-interviewing As a Strategic Partner you receive exclusive web access from Hooper Holmes.* This allows you to check the status of any tele-interviews ordered by Sun Life Financial on your behalf, without having to call the advisor service centre. *Sun Life Financial has an exclusive partnership with Hooper Holmes Canada, a company with extensive tele-interviewing experience. Their Sun Life Financial tele-interviewing facilities are staffed with skilled, experienced and knowledgeable professionals, enabling them to provide fast and responsive service in English, French and a number of other languages covering a range of Canadians. Initiate your own APS Strategic Partners may order the Attending Physician Statement (APS) themselves. We provide the guidelines to enable you to start the process earlier so your business can be issued several days sooner. Priority in-force illustration processing Reduced waiting times: Standard waiting times for in-force illustrations are three to five days. Strategic Partners will only wait 24 hours or less to have in-force illustrations processed. NEW Policy wallet program For Strategic Partners, the threshold for including a policy wallet will be expanded to allow improved presentation to clients. The current level of a minimum premium of $5,000 will be extended to include all policies with a face amount of $1 million. Leather portfolios will be provided for policies with $50,000 of premium, rather than the current threshold of $100,000. 7 Select Level Select qualifiers are also entitled to all of the Partner level benefits of the Strategic Partner Program in addition to the following: Practice Development Summit This is a key benefit of the Strategic Partner Program. Strategic Partners who qualify for Select or Premier will automatically receive an invitation to participate in this unique, high-calibre event. The three-day, two-night meeting at an intimate resort venue includes 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 objective is to provide great ideas in a relaxed setting to help Strategic Partners grow their business. Attendees at the Summit are Sun Life Financial guests and are expected to attend the full event. All costs are covered by the Strategic Partner Program.* Sun Life Financial meeting planners co-ordinate registration and assist in making travel arrangements. The 2014 locations and dates will be announced early in the year. *Insurance Specialists of IIROC firms will be charged a nominal fee to attend this event. This is in compliance with the rules and regulations set out by IIROC industry compliance. Marketing Associate (MA) support program The MA plays a key role in the success of most Strategic Partners. Our Marketing Associate support program focuses on networking, sharing ideas and experiences, and building on current skills and knowledge to help MAs become even more effective. Key elements of our ongoing support program include: • Marketing Associate forum – Regional events will provide MAs with information, networking opportunities and other perks. There is no charge** and only one MA per advisor may attend. Watch for information on the dates and locations of this year’s events. • Marketing Associate webinars – This forum allows MAs an opportunity to keep up-to-date with Sun Life Financial and industry developments, share ideas and processes, discuss hot topics and network – all from the comfort of their desks. **Marketing Associates of IIROC firms will be charged a nominal fee to attend this event. This is in compliance with the rules and regulations set out by IIROC industry compliance. Attending Physician Statement incentive The faster we receive an APS from a doctor, the faster a policy can be issued and compensation paid to the advisor. In an effort to expedite the process, we’ll reward physicians when they return an APS to Sun Life Financial within five business days. For Select qualifiers the incentive will be offered in these two situations: • Life insurance cases with yearly premiums of $20,000 or more • Critical illness insurance cases with face amounts of $500,000 or more Business development allowance Select qualifiers have access to a business development allowance that can be used in support of marketing activities aimed at developing future business with Sun Life Financial. See page 12 for guidelines applicable to using the business development allowance. 8 Select Level Professional development with The Covenant Group Sun Life Financial has partnered with The Covenant Group to bring our Strategic Partners this exciting benefit. The Covenant Group is well 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. Select qualifiers will receive a reimbursement when they enrol in The Covenant Group’s Business Builder program or Advanced Practice Development program. Members who complete the Business Builder or Advanced Practice Development programs will also earn valuable CE credits. Trustworthy Selling® Trustworthy Selling is a comprehensive sales effectiveness program designed to help you grow your business. Offering in-depth insight into consumer behaviour, buyer and seller psychology, and top agent sales skills, Trustworthy Selling provides an unparalleled approach to effective selling. Strategic Partners, or advisors mentoring with a Strategic Partner, who enrol in the Trustworthy Selling program, can choose to be reimbursed from their business development allowance to help offset the cost of enrolment. Express yourself Strategic Partners can use this yearly benefit to help market themselves in their communities. •Relationship brochure – This benefit can be used to help partners pay for hard-copy relationship brochures that let people know who they are and what their areas of expertise are. Sun Life Financial can provide a mock-up of the brochure and consult on the content, or simply reimburse you if you choose to work with an external design firm. • Company website – This benefit can also be used to help build or update a website that promotes your business. Sun Life Financial can provide consultative services on the creation of the website and we’ll help promote it to your key contacts. •Social media training – Social media tools and technologies have become essential platforms that trusted advisors are turning to as a way to build their reputation and expand their networks. Get involved! You can use a portion of your your Express yourself allowance to enrol yourself or your Marketing Associate in a social media training program. Executive underwriting account Up to $1,000 is available through this account, allowing faster access to specialized testing where an underwriting decision would have been postponed until more expensive tests were completed. The underwriter and case manager will arrange for the testing to be completed at the client’s convenience, in their own community. That means less hassle for clients, no cost for Strategic Partners and the required evidence is collected quickly. See page 14 for detailed information. Please speak to your firm manager about how business development allowances will be allocated. 9 Premier Level Premier qualifiers are entitled to all of the Select and Partner level benefits of the Strategic Partner Program in addition to the following: Attending Physician Statement (APS) incentive – more cases qualify For Premier level qualifiers the incentive will be offered in these two situations: • Life insurance cases with yearly premiums of $15,000 or more • Critical illness insurance cases with face amounts of $350,000 or more Business development allowance In addition to the allowance offered at the Select level, Premier qualifiers will have access to an additional amount of business development allowance. See page 12 for guidelines applicable to using the business development allowance. Professional development with The Covenant Group – larger reimbursement Premier qualifiers will receive an additional reimbursement over what is available to Select qualifiers. Direct access to senior underwriters Premier qualifiers receive the benefit of working with a dedicated senior underwriter. Premier qualifiers will be provided a direct contact name and phone numbers for all their cases. Please speak to your firm manager about how business development allowances will be allocated. 10 Reward and recognition Annual recognition Each year when advisors qualify as Strategic Partners, they’ll receive a certificate of achievement for this accomplishment. In addition, an advisor kit with contact and program information will be delivered by local field management. Hall of Fame member reward In recognition of their significant contribution to Sun Life Financial, Hall of Fame members will automatically receive Select membership in the Strategic Partner Program. To reach Premier, Hall of Fame members need: 75,000 total credits This is only half of the normal credits required to qualify for Premier. Consistent qualifier reward We value advisors who consistently qualify for the Strategic Partner Program and want to recognize them for their ongoing business. Advisors who qualify for three consecutive calendar years at Select or Premier will receive an additional business development allowance. Please speak to your manager about how this additional allowance will be allocated. If an advisor qualifies during 2014, the Partner level benefits are provided immediately for the remainder of the year. 11 Guidelines for use of the business development allowance The objective of these allowances is to support business development activities that have reasonable potential to develop future business with Sun Life Financial and must include a business component. The categories include: Advisor/business promotion Lead generation Client appreciation Advisor/broker training and development Business development allowance: What’s included Advisor/business promotion Client appreciation Advertising – newspapers, magazines, radio, TV, websites, program ads, miscellaneous ads Appreciation/special events for clients (must be a formally promoted multi-client event) Brochures and newsletters Sponsorship/charitable support, where the advisor is publicly recognized Advisor-branded (or Sun Life-branded) promotional items Lead generation Trade shows Advisor/broker training and development Expenses for educational seminars and related events that promote Sun Life Financial Cost for seminars or webinars presented by the Strategic Partner Direct marketing Business development allowance: Important rules Please provide the original receipt or proof of payment. Invoices will not be accepted unless marked PAID with a date stamp. Please complete a Strategic Partner Program Reimbursement Request form and send it, and original receipts to: Strategic Partner Program Reimbursements: c/o Sun Life Financial 225 King St W 3rd floor, 203D10 Toronto ON, M5V 3C5 Approved reimbursements are processed bi-weekly. Please note your reimbursement form must be submitted by December 10 of the year the expenses are incurred. Expenses from a previous year cannot be carried forward. 12 Trustworthy Selling ® In-depth insight into consumer behaviour, buyer and seller psychology and top agent sales skills Can be reimbursed from the business development allowance to help offset the cost of enrolment Business development allowance: What’s not included Expenses for office supplies Technology and software purchase or upgrades Normal business expenses Staff training Cash sponsorships/donations with no public recognition Entertainment expenses with no business connection Travel costs Requests not included in the descriptions above will be considered on an individual basis. 13 Executive underwriting account As a Select or Premier member of the Strategic Partner Program, you earn access to a unique and valuable benefit – the executive underwriting account (EUA). Here’s how it works Each year, we credit your executive underwriting account with $1,000 for special medical expenses. Based on our routine evidence, if an underwriting decision must be postponed until more specialized tests are completed, you can discuss with your underwriter if this test can be arranged through your EUA. If the test is eligible for EUA coverage, your underwriter and case co-ordinator will attempt to arrange the testing in the client’s community and at his or her convenience. In most cases, this will be facilitated through special arrangements with a paramedical company. To ensure the process goes smoothly, you may need to help co-ordinate between the client and the paramedical company. The test results will be forwarded directly to your underwriter, who will promptly provide you with our decision. 14 The following conditions apply The policy must have an annual premium of $10,000 or more to qualify for this benefit. Cases previously submitted to other carriers and rated, postponed or declined are not eligible. The executive underwriting account has no cash redemption value. We allot an amount to your account at the beginning of each year, and that year’s allotment expires at the end of the calendar year. You cannot carry-over an unused amount to the next year. Only non-invasive medical tests that carry no health risk to the patient qualify for this program. The underwriter will make the final decision as to whether the test is appropriate for this program. While we will try to have tests completed as soon as possible and at a location convenient for the client, arrangements will be determined by the availability of medical facilities in the client’s community. Test results will not be provided to other carriers, unless we receive full reimbursement for test costs from the company in advance. We will be pleased to forward a copy of our test results to the client’s personal physician to assist in managing the patient’s care. However, the test results will include notice that they cannot be released to any third parties without our prior consent. 15 Advisor attending physician statement (APS) ordering criteria MEDICAL HISTORY LIFE CII Age/amount >$500k @ ages 0-15 Age/amount >$2m @ ages 16-65 Age/amount >$1m @ ages 0-15 Age/amount $100k+ @ ages 2-15 Age/amount $500k+ @ ages 16-50 Age/amount $250k+ @ ages 51-60 Age/amount $100k+ @ ages 61-70 Any medical consult in 1 month Physical exam within 6 months Adrenal disorder/mass Alcohol abuse treatment/counselling 5 yr. Anemia- b12/b6/pernicious/folic acid deficiency Anemia- iron deficiency Aneurysm Anorexia/bulimia Arterial blockage Arterial disorder or surgery Arthritis (not rheumatoid- severe/limiting activity) Asthma (mild, occasional puffer) Asthma (moderate-daily medication) Attention deficit disorder 1 yr. 5 yr. Back pain (severe/disabling) Barrett’s esophagus Bipolar disorder Blood in urine/hematuria 2 yr. Blood pressure elevated Blood sugar elevated Brain tumour Breast cyst/lump n/i 2 yr. Cancer, other than skin Cardiomyopathy Cat scan/MRI/ultrasound head or internal organs 16 n/i 1 yr. 2 yr. MEDICAL HISTORY LIFE CII Cerebral palsy (mild; no mechanical aids) Cerebral palsy (requiring aids) Chest pain with ecg n/i 2 yr. Chronic bronchitis, emphysema Chronic fatigue syndrome Chronic obstructive lung disease Cirrhosis n/i Clotting disorder/hemophilia Concussion (full recovery) Congenital heart disease Congestive heart failure (acute/recovered) Coronary angiogram/catheterization Coronary artery disease n/i Coronary bypass/angioplasty n/i Crohn’s disease 5 yr. Cystic fibrosis n/i Depression on medication Diabetes treated by diet or oral medication Diabetes treated with insulin n/i Disorder of ear/deafness Disorder of eye (cataract/glaucoma) Diverticulitis 2 yr. Dizziness/syncope/vertigo (cause unknown) 2 yr. Drug use treatment 5 yr. ECG abnormal 2 yr. ECG stress test for medical symptoms 5 yr. 5 yr. Edema (swollen legs) Echocardiogram 2 yr. Encephalitis (full recovery) 2 yr. Epilepsy Fractured skull 2 yr. 17 MEDICAL HISTORY LIFE CII Gastrointestinal tract bleeding Headaches/migraines Heart attack n/i Heart murmur with cardiologist follow-up Heart murmur-benign Hepatitis B (recovered) Hepatitis B carrier Hepatitis C n/i Hepatitis type unknown Hodgkin’s disease Hyperthyroid/Grave’s disease 5 yr. Hypoglycemia (reactive/cause unknown) 2 yr. Irregular heart beat 1 yr. Kidney infection 1 yr. Kidney stone 1 yr. Kidney transplant recipient n/i Leukemia n/i Liver function tests abnormal 2 yr. Lupus n/i Lymphoma n/i Melanoma removed Meniere’s disease 2 yr. Meningitis (full recovery) 2 yr. Mitral valve prolapse Mole (benign) removed 6 months Multiple sclerosis (in remission) n/i Muscular dystrophy n/i Nephritis/nephrosis Neuritis, neuralgia, sciatica Optic neuritis, loss of vision (non-traumatic) n/i Pacemaker Pancreatitis/inflamed pancreas Parkinson’s disease 18 5 yr. n/i MEDICAL HISTORY LIFE Pericarditis/endocarditis/myocarditis 2 yr. CII Pituitary disorder/mass Poliomyelitis (full recovery) Polycythemia n/i Polyps colon removed 2 yr. Prostate enlarged 2 yr Prostatitis Protein in urine/proteinuria 1 yr. 2 yr. PSA elevated Pulmonary embolism 2 yr. Pulmonary fibrosis Rapid heart beat/tachycardia n/i 1 yr. Rheumatoid arthritis (limited to hands & feet) Rheumatoid arthritis (multiple or larger joints) Sarcoidosis 5 yr. Schizophrenia n/i Scleroderma n/i Seizures Skin cancer 2 yr. Sleep apnea Sleep study 1 yr. 2 yr. Spleen disorder Stomach ulcer Stroke/transient ischemic attack n/i Thallium scan Thyroid cyst/lump/goitre 2 yr. Tremor Tuberculosis (treated/recovered) 2 yr. Ulcerative colitis 5 yr. Valvular heart surgery 19 For more information Contact your Sun Life Financial Regional Sales Director, or email SPP@sunlife.com. 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, 2014. 810-3651NA-04-14