As a former tied agent of Canada Life I have many clients who hold policies with Canada Life.
In the 10 years since I left Canada Life to become independent, it has frustrated me no end that Canada Life have steadfastly refused to switch these policies into my agency for client servicing and renewals.
The reason given was that they where allegedly being serviced by Canada Life's dwindling tied salesforce, which received the renewals, but did little to justify them.
The majority of the Canada sales force has recently been “transferred” to Lighthouse Independent and our clients have now been deluged with switch authorities by the former Canada Life agents in an attempt to move the clients and renewals into their own agency as a kickstart to their new independent businesses.
No account has been taken by Canada Life of the fact that we have hundreds of valid signed authorities lying dormant on their files that they have repeatedly refused to act upon, including my own personal policies.
My message to IFAs is simple – if you have clients with Canada Life policies, get them transferred into your own agency as quickly as possible before Lighthouse does.
Coyne Parkinson Dunne