CLIENT COMMITMENT & DISCLOSURE DOCUMENT
When considering the purchase of Insurance Products available such as Term Life, Mortgage/Loan Insurance, Whole Life, Cash Value Life Insurance, Disability, Accident, Injury Insurance’s Income Replacement Insurance’s, Critical Illness Insurance, Long Term Care Insurance, Individual Health or Health Spending Accounts, Retirement Savings Products such as RRSP’s, RRIF’s,LIRA & LIF’s et cetera Tax Free, Checking, Interest Paying Savings Accounts, it is important that you have a good understanding of how the products selected or recommended, can help you achieve your financial goals.
It is my responsibility to explain & recommend products to you based on Your needs & goals, & ensure you have been given full disclosure about:
#1 Where I am licensed to do business (Licensing),
#2 The life insurance companies I represent (Representation),
#3 How I receive compensation (Compensation)
#4 Protection of your personal information (Confidentiality).
LICENSING
I, Joanne Drodge am licensed as a Life Insurance & Accident & Sickness Insurance Agent by the Provinces of Alberta, Saskatchewan, British Columbia, and Nova Scotia. I maintain Professional Liability Insurance coverage as required under the Laws & Regulations for Full Life Insurance agents.
REPRESENTATION
In negotiating Insurance & Investment Products such as indicated at the beginning of this disclosure, I represent YOU the Customer & Client.
Nature of Relationships with Insurance Companies & Industry Professionals.
I also represent specific Insurance companies, through the Managing General Agency (MGA) known as IDC Worldsource Insurance Network Inc. through whom I hold all my Insurance Contracts to offer you Insurance & Investment Products as they pertain to my current Licensing.
I am contracted to offer products for sale from Major Insurance Carriers such as:
Canada Life, RBC Insurance, Ivari, Desjardin Financial, Beneva, Manulife Financial, Sun Life, IA Financial, Equitable Life, Empire Life, Canada Protection Plan, Forester’s Financial, Humania Insurance, The Edge Benefits, BMO, Assumption, UV Assurance, MYHSA Health Spending Accounts.
Nature of Relationships with Insurance Companies & Industry Professionals
From time to time, I may receive referrals given from or in collaboration with the Insurance Companies I represent, other Professional Peers contracted with IDC Worldsource Inc. or other Agencies. These collaborations are done to provide you with the best possible services, but I must require Your Consent, Knowledge & Approval, to share your personal
information with other Licensed Reputable Advisors.
COMPENSATION
Joanne Drodge receives compensation for any product you may choose to purchase, directly from the Insurance Company which provides the product. Joanne Drodge is compensated by a sales commission at time of sale & may receive a renewal (or service) commission. Joanne Drodge may be entitled to additional compensation, such as bonuses & non-monetary benefits or travel incentives. These incentives are based on the volume of business done with a particular company & may have added requirements such as the quality and persistency of business over a specified period. It is important to understand that business will not be placed with any insurance company where the primary reason is for compensation.
CONFIDENTIALITY
During our relationship, it will be necessary for you, the client, to provide a variety of very personal financial information. The quality of work undertaken on your behalf requires the information to be accurate and complete. All information collected will be held in the strictest of confidence by Joanne Drodge. Our “PRIVACY STATEMENT” tells you how we will manage your personal information and describes your rights pertaining to your personal information. This statement is necessary to conform to the Personal Information Protection and Electronic Documents Act (PIPEDA).
Joanne Drodge will have to transmit your personal information to the insurance companies when we apply for insurance and/or investment products. We may need to transmit your personal information to an MGA (Managing General Agency) when applying for insurance and investment products as we are unable to deal Directly with the insurance carrier(s). This MGA is IDC Worldsource Insurance Network Inc.
Your personal information will be accessed by Joanne Drodge and/or by IDC Worldsource Insurance Network Inc & their staff, or other Advisors if you are a shared client. This is necessary, especially so during an absence, or an extended absence due to disability or Death of Joanne Drodge.
Joanne Drodge will maintain your personal data for a period of no less than 7 years.
Any of your personal data exceeding 7 years, may be securely destroyed by Joanne Drodge.
DISCLOSURE
I, Joanne Drodge, take the potential of a conflict of interest seriously. I, and/or any contract personnel I may employ, agree to notify you, the client, of any existing or perceived conflicts of interest when they arise. Recommendations for your personal or corporate needs are based on analysis of your needs & goals. The analysis is performed based on information you provide to us and will be based on current laws and accepted tax planning strategies. We may consult professional advice on your behalf from time to time. Should you require additional information about our qualifications or the nature of our business relationships with any professionals or insurance companies, we would be pleased to give you this information.