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Deceased Advisors/Shareholders

Deceased Advisors/Shareholders

Mar 04, 2022

APEXA Notified of Death by MGA or Carrier

  • MGA or Carrier emails death certificate to APEXA along with the Advisor Application ID (so we can accurately verify the Advisor)

  • APEXA will validate that the @domain name on the email has a relationship with the Advisor (example – the email is sent by Hub Financial. As long as the Advisor has a contract with Hub Financial and the email domain contains @hubfinancial, APEXA will accept the request)

  • If the MGA or Carrier making the request does not appear to have a relationship with the Advisor, APEXA will contact the requestor for clarification

  • APEXA uploads the death certificate to the Advisor profile and marks the profile ‘deceased’. All related parties can access the documents uploaded to the profile

  • If the name on the Advisor’s profile differs from the name on the death certificate APEXA will validate whether the DOB matches between the Advisor profile and the death certificate (note – not all provinces list DOB on the death certificate)

  • If APEXA can’t validate the DOB and the name doesn’t match, APEXA will contact the MGA or Carrier personnel whom initiated the email to confirm that we’re locating the correct Advisor profile

  • The MGA’s and Carriers communicate amongst themselves to determine if there are any additional requirements (copy of Will, validation of the Executor via Passport or License etc)

  • The MGA or Carrier requests the additional documents (if applicable) from the relevant parties and emails the documents to APEXA along with the Advisor’s Application ID

  • APEXA uploads the additional documents to the Advisor profile

  • APEXA does not validate the additional documents or take action based on these. They are made available for all parties to initiate their individual process

APEXA Notified of Change to Banking or Address of Deceased Advisor by MGA or Carrier

  • The MGA or Carrier emails the request to APEXA along with the Advisor’s Application ID

  • APEXA reviews the profile. If there is no death certificate they will respond to the initiator and request that they provide us with the death certificate

  • Once the death certificate is emailed to APEXA we will mark the profile ‘deceased’, upload the death certificate and process the banking or address change per the instructions. A void cheque must accompany a banking change request

APEXA Notified of Death by Executor or Other Person (ex. business partner)

  • APEXA will collect the name, relationship of the caller to the deceased and email address of the caller

  • APEXA will email all related MGA’s and c.c. the caller

  • The related MGA(s) will work with the caller directly to initiate the process

APEXA Notified of Change of Address or Banking from Executor or Other Person

  • APEXA will collect the name, relationship of the caller to the deceased and the email address of the caller

  • APEXA will email all related MGA’s and c.c. the caller

  • The related MGA(s) will work with the caller directly to initiate the process