Empire Life offers excess withdrawal alert

Empire Life has announced a new service for its Class Plus customers, giving them a heads up if they make withdrawals that could affect their future guaranteed income.

The Excess Withdrawal Alert (EWA) service is a no-cost, automatic service that notifies clients through their advisor, if a withdrawal they have requested exceeds their annual limit.

The advisor can then explain the consequences of the excess withdrawal, so customers can decide whether they want to proceed with the withdrawal or consider other options that wouldn’t affect their guaranteed income.

“This new service has been designed with our customers and advisors in mind. Delivering value, simplicity and an opportunity to educate are top of mind,” says Julie Yoshikuni, vice-president, retail wealth marketing. “The service allows both customers and advisors to keep financial plans on track in order to meet long-term financial goals.”

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.