November 17, 2017
Canada Protection Plan‘s Application
As of July 1, 2017, clients with international tax status purchasing a Whole Life Insurance policy with cash value through Canada Protection Plan have been required to provide a “Declaration of Tax Residence”. To comply with this regulation we have included this in a soon to be released Application (10/17) that will be made available, including the most convenient method which is e-Access as of Friday, November 17th.
This change in the application (10/17) adheres to the new guideline and simplifies the process when sending in completed applications, as a separate declaration form will no longer be required.
It is important to note – if you have any pending (10/16) e-Applications (e-Access) to complete, please ensure that they are received here no later than by end of day on Thursday, November 16th.
The only e-Access application accepted as of November 17th will be dated 10/17.
All current PRINTED applications (10/16) in circulation are fine to continue using, however a completed declaration of tax residence form(s) is required to be provided along with this application (10/16) when sending to our head office.
At Canada Protection Plan we continually strive to provide you with an enhanced experience for both you and your clients. Giving you more advantages and choices to help grow your business. This includes the option – if your client is on a monthly payment plan: