| One hub, everything you need to know |
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| Life17 is your hub on RepNet for the new income tax rules and how they will affect your product shelf. Updates, tips and training, marketing materials, illustration tools and support – you’ll find everything you need in one spot. |
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| You’ll learn what’s changing, what’s not and understand which opportunities to act on in 2016, before the new rules come into effect. We’re committed to communicating details as soon as they become available. |
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| The right tools for the job |
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| This spring, the focus is on income tax rule basics and policy change specifics. New resources on the Life17 hub will help you understand the changing life insurance landscape and how to help clients choose the best product to meet their needs. |
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| Training videos | | | | Summary of the exempt test changes covers tax-exempt basics, including what rules are changing and why. Meanwhile, Options to navigate the transition period examines policy change opportunities with existing clients. Print references summarize key points for each video. |
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| Tax and planning article | | | | A practical view of the exempt test changes gives a high-level view of what’s changing and how it will impact life insurance policies, including straightforward explanations of key concepts like net cost of pure insurance (NCPI) and adjusted cost basis (ACB). |
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| White paper | | | | Life insurance opportunities in 2016: Decisions to make in 2016 before tax changes in 2017 provides an in-depth look at how the new rules will affect the life insurance landscape. It highlights time-sensitive policy change opportunities to act on in 2016 and uses graphs and examples to show how policies will work in 2017. |
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| Policy change guide | | | | An extensive policy change guide delves deeply into the details about each policy change, including transition rules. Look up policy changes by product type and details by type of policy change. |
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| | Life17 will give you the information and support you need to hit the ground running in 2017. Look for updates on RepNet, as well as through future emails and presentations. For more information, contact your MGA, branch office or Canada Life regional marketing centre nearest you. | |
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| About Canada’s new income tax rules |
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| Starting Jan. 1, 2017, new rules will govern the taxation of life insurance policies. These changes modernize the rules around life insurance, putting greater focus on protection first, investment second. As a leading Canadian insurer, we worked with our industry peers and the government to help shape the new tax rules. |
