Site Search

1331 results for if

1. Regulator Reviews of Advisor Business Practices The Financial Services Regulatory Authority of Ontario (FSRA) began targeted life agent examinations in 2021 as part of its Market Conduct: Life and Health Insurance Agent Supervision Framework. In March 2022, FSRA released its industry report which included a summary of the top regulatory violations or business practice gaps identified during those reviews, which included:
   
   ● Agent Disclosure – failure to ensure proper disclosure to clients regarding the insurers that the agent is authorized to represent, conflicts of interest or potential conflicts of interest and agent compensation;
   ● Continuing Education Credits – failure to complete CE credits as required or misrepresentation to the regulator regarding completion;
   ● Failure to complete the Life Insurance Replacement Declaration with clients when replacing an existing insurance policy;
   ● Missing or inadequate financial needs analysis and/or risk assessment (wealth) and insurance needs analysis;
   ● Missing or inadequate Reasons Why Letters for insurance recommendations;
   ● Missing evidence of policy illustrations;
   ● Missing or inadequate AML/ATF programs; and
   ● An overall lack of adequate notes to document client conversations and support recommendations made.  
   
   While these reviews are focused on agents licensed in Ontario, the review findings are helpful for all licensed advisors to ensure your business practices are aligned with regulatory and industry standards.  Following these standards also helps you meet Equitable Life’s Advisor Code of Conduct. FSRA’s full report includes a copy of the Insurance Agent Market Conduct Questionnaire and can be viewed at https://www.fsrao.ca/newsroom/new-life-and-health-agent-supervisory-framework-enhances-consumer-protection.
   
   
    
2. Crunch the numbers with Equitable Life of Canada

    

   Whether helping your client determine net worth or reviewing to see if your client’s retirement plan is on track, Equitable Life^® is here to help with our online calculators. These number crunching tools can help you answer some of those challenging questions you get asked by your clients. From an RSP loan calculator to home budgeting to even figuring out if your client will be a future millionaire, check out our latest tools.

   -------------------------------------------------------------------------------------------------------

   Elijah welcomed a new baby to his family and needs to reduce the amount of money he is saving for retirement. Is he still going to be able to retire at age 60 like he planned, or will he need to extend his working years until age 65?
   
   Did you know?
   Investment returns, unexpected expenses and inflation can all affect your retirement savings. Check out Equitable Life’s How Long How Long Will My Retirement Savings Last Calculator.

    

   Share calculators using your Facebook, Twitter or LinkedIn account.

    

    ® denotes a registered trademark of The Equitable Life Insurance Company of Canada.

3. Taking the guess work out of market volatility with Equitable Life

    

   Investing during market highs and market lows can leave even the most seasoned investors scratching their heads. Knowing when to buy and when to sell is not easy, but disciplined investing can be.
   
   Dollar cost averaging with Equitable Life® is designed to provide a long-term investment solution. This strategy helps take the guesswork out of knowing when to get into the market. It can also provide consistency for a long-term financial plan regardless of whether there is a lot or a little to invest.
    
   And for a limited time only, we’ve increased the initial commission for the CB5 sales option from 5.6% to 7.0% on Pivotal Select™ segregated funds*, effective from May 20 to August 31, 2022.** During this time, advisors earn the increased full initial commission even if funds are placed into Equitable Life Money Market Fund to start the PAC.
    
   For more information on dollar cost averaging, please contact your Equitable Life Regional Investment Sales Manager.

    

    
    
   * Applies to FundSERV trades occurring between May 20 and August 31, 2022. Initial commission on non-FundSERV trades occurring between May 20 to August 31, 2022 increases from 4% to 5%. Initial commission is subject to a chargeback.
   ** Equitable Life reserves the right to end the campaign at any time and without notice.
    
   ™or ® denotes a registered trademark of The Equitable Life Insurance Company of Canada.
    
    
4. Crunch the numbers with Equitable Life of Canada

   
   Whether helping your client determine net worth or reviewing to see if your client’s retirement plan is on track, Equitable Life^® is here to help with our online calculators. These number crunching tools can help you answer some of those challenging questions you get asked by your clients. From an RSP loan calculator to home budgeting to even figuring out if your client will be a future millionaire, check out our latest tools.
   -------------------------------------------------------------------------------------------------------
   
   Gloria and Nigel just launched their small business and have dreams of becoming millionaires. What will it take for them to join the millionaire’s club?
   
   
   Did you know?
   There are many factors to consider including inflation, taxation and rate of return. Check out Equitable Life’s Cool Million Calculator.
   
   Share calculators using your Facebook, Twitter or LinkedIn account.

5. Updated Temporary Resident Guidelines We are excited to announce that we have liberalized our Temporary Resident Guidelines.
   
   ● The validity period requirement of the supporting documentation for all Temporary Residents has been lowered to three months
   ● Student Visa holders attending post secondary educational institutions may qualify for a total coverage of $500,000, and – if employed – even for $1,000,000  
   
   We will now ask for the following information:
   
   ● Information regarding the educational institution and programme for all amounts over $250,000 (typically includes online validation)
   ● A maximum of $500,000 may be available for students enrolled in professional programmes, as defined in our Student Financial Guidelines (e.g., medical, law, etc.)
   ● A maximum of $1,000,000 may be available for students who are legally and gainfully employed. For this, we require proof of current employment and the CRA Notice of Assessment for the previous year. Should both be satisfactory, the allowable face amount will be calculated according to the published Work Permit guidelines. If applying for over $500,000, a minimum one-year period after arrival to Canada is required.
   ● Students enrolled in elementary or secondary school are eligible for a total coverage of $250,000. Exceptions may apply if the parents are insured or applying for minimum $1,000,000. We will confirm the parents’ respective occupations, incomes, and residency statuses
   
   Read more about the details of the changes in the updated Residency Guidelines form 1530.
   
   Please contact your Regional Sales Manager for more information. 
6. A New Universal Life Solution for the 21st Century – Coming Soon

   Introducing a new Universal Life solution built for the 21st century: Equitable Generations™ universal life insurance will be available for sale September 26, 2022.

    

   Check out our Equitable Generations universal life splash page: www.equitable.ca/ul

   
   Our new Equitable Generations
   Equitable Generations is a Universal Life product that offers investment options that resonate with today’s 21^st century client while reducing every fee possible. It also reduces the cost of insurance to help clients maximize their opportunity to purchase coverage and build tax-advantaged wealth.
   
   Features of Equitable Generations:
   • 34 fund options, including 18 new investment options, tracking funds managed by Fidelity™, Dynamic™, Invesco™ and more.
   • 3 sustainable investment “ESG” (Environmental, Social & Governance) options – because today’s buyer cares as much about impact as they do about returns.
   • Target date funds that auto-rebalance over time so that as a client approaches retirement, the fund adjusts its risk automatically.
   • A lower cost insurance with no policy fee, with the opportunity to purchase insurance protection, more opportunity to build wealth, or both.

   
   Supporting you at claim time with KIND™

   This service will include the following components:
   ● Living Benefit
   ● Bereavement Counselling benefit
   ● Snap Advance*
   ● Compassionate Advance*

   ^* Snap Advance and Compassionate Advance are non-contractual and may be altered or terminated by Equitable Life at any time without notice.
   
   New illustration software available
   The updated illustration software will be available for download after 9 a.m. ET on Tuesday, September 6, and will include the new Equitable Generations product. See the Equitable Sales Illustrations Update for information on how to download the software or check for updates.  
   
   Learn more
   Transition rules are available

    

   Check out our Equitable Generations universal life splash page: www.equitable.ca/ul

   Watch for more information and get ready to sell Equitable Generations universal life as it becomes available on September 26.
   
   Please contact your Regional Sales Manager for more information. 

   Invesco® and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence. Invesco is a registered business name of Invesco Canada Ltd.
   Dynamic Funds is a registered trademark of its owner, used under license, and a division of 1832 Asset Management L.P.
   Fidelity is a registered trademark of 483A Bay Street Holdings LP. Used with permission.
   Equitable Life, Equitable Life of Canada, KIND and Equitable Generations are registered trademarks of The Equitable Life Insurance Company of Canada.

7. EAMG Market Commentary August 2022
    

   August 2022
   
   The S&P 500 fell into bear market territory over the first half of 2022 with the index down -20.6%. This represented a top 10 ranking amongst the most dismal back-to-back quarterly performances going back to 1928. While comparisons have been made to the inflation driven bear market of 1973-74, the economic backdrop today has some significant differences including greater production capacity (factory utilization rates are running about 20% lower vs the 70’s) and a meaningful decline in raw industrial prices which have fallen -11% over the quarter. While these economic anecdotes are potential positives for the future, it’s important to remain cognizant that prices remain elevated.
   
   As such, the US Federal Reserve seems to be taking every opportunity to telegraph their intentions of raising interest rates at the expense of both market and economic performance, so long as inflation remains a threat. Given this hawkish tone, the market narrative has morphed from fears of inflation to a fed driven recession. As a result, the move in the bond market has been swift with the 10-year treasury yield peaking at approximately 3.5% in June to today’s level of 2.7% (lower rates = higher bond prices). This positive bond performance reflects the consensus view that inflation is temporary (2023 CPI forecasts are approximately 3.6% vs the second quarter’s 8.7% CPI reading) and could allow the Fed to adjust their higher interest rate trajectory downward. The Fed also remains confident that a soft landing is achievable, and a recession avoidable.
   
   Investors seem less convinced however, given the Fed has never been able to engineer a soft landing before, and so it’s no surprise equity markets entered a bear market over the quarter, and currently remain in a technical correction (defined as losses greater than -10%). To better assess future performance, we closely monitor earnings results to understand how companies are navigating these economic trends. With nearly 80% of the S&P 500 reported, the results have been better than expected, but still the EPS beat rate and magnitude of beats (actual vs expectation) remain below 5-year averages. This tells us companies are finding today’s economic conditions more challenging than the recent past. Consumer sectors including marketing, retail, autos and textiles posted the 2nd worst performance vs other sectors while the Financials sector saw the greatest challenges with aggregate EPS falling by -15% year-over-year. Wall Street analysts have started to revise S&P 500 forward growth estimates lower, a trend which we expect will continue for several quarters ahead. The forward (12-month blended) P/E ratio of 17.5 times remains 1.5 multiple points above the long-term average which potentially suggests risks may not be fully priced in.
   
   In terms of the S&P/TSX Composite, after declining nearly -14% in Q2 as recession fears around the world jeopardized the global demand outlook, its’ since rebounded over 4.0%. Still, valuation remains below longer-term averages at 11.8x forward earnings with the heavier weighted Financials and Energy sectors trading at 9.5x and 7.9x, respectively. TSX earnings expectations have stalled as of late but downward revisions are lagging US and European counterparts. Additionally, the domestic labour market remains tight which has allowed the Bank of Canada to continue its aggressive rate hike path to curb soaring inflation. For most of 2022 the TSX has benefitted from surging commodity prices but an economic slowdown in China resulting from its commitment to a zero-Covid policy and a potential global recession could prove to be a challenge for the Canadian market.
   
   Equity markets on average lose 30% of their value in recession led bear markets. If we use this as a potential road map, it suggests the S&P 500 could have further to fall. Using past performance as a forward-looking tool however is an imperfect technique and used in isolation of what’s happening today can often mislead.
   
   Accounting for today’s backdrop, we come up with three scenarios of varying probabilities. The first is the most optimistic and includes an engineered soft landing by the Fed, meaning no recession and inflation cools. A less optimistic view is the fed tames inflation with higher interest rates but tips the economy into a mild-to-moderate recession. The outcome would be consumer spending and corporate hiring slow as a result of tighter financial conditions, and therefore financial results are negatively impacted. The least optimistic scenario is one where stagflationary conditions emerge as inflation continues to accelerate at the expense of growth despite higher interest rates, in other words the Fed loses control. The net result would be similar to our second scenario but with much more dire results in terms of unemployment, household spending and impacts to corporate profitability. While we don’t rule out any of the above scenarios completely, we assign the highest probability to the second one where macro economic issues get resolved at some point in the future, but the full effects of inflation and a possible recession have yet to be priced into the market. Currently, this view translates into a slight underweight equity position versus our benchmark with a tilt towards low volatility and defensive strategies along with an overlay of value and dividend paying securities. In other words, we’ve de-risked the portfolios relative to our benchmark to manage potential downside risks but remain meaningfully invested an on absolute basis. As always, time in the market tends to overcome trying to time the market, and so employing a strategic and diversified strategy is often the most prudent approach.
   
   
   Downloadable Copy
   
   
   
   ADVISOR USE ONLY
   Any statements contained herein that are not based on historical fact are forward-looking statements. Any forward-looking statements represent the portfolio manager’s best judgment as of the present date as to what may occur in the future. However, forward-looking statements are subject to many risks, uncertainties and assumptions, and are based on the portfolio manager’s present opinions and views. For this reason, the actual outcome of the events or results predicted may differ materially from what is expressed. Furthermore, the portfolio manager’s views, opinions or assumptions may subsequently change based on previously unknown information, or for other reasons. Equitable Life of Canada® assumes no obligation to update any forward-looking information contained herein. The reader is cautioned to consider these and other factors carefully and not to place undue reliance on forward-looking statements. Investments may increase or decrease in value and are invested at the risk of the investor. Investment values change frequently, and past performance does not guarantee future results. Professional advice should be sought before an investor embarks on any investment strategy.

8. Crunch the numbers with Equitable Life of Canada  

   Whether helping your client determine net worth or reviewing to see if your client’s retirement plan is on track, Equitable Life^® is here to help with our online calculators. These number crunching tools can help you answer some of those challenging questions you get asked by your clients. From an RSP loan calculator to home budgeting to even figuring out if your client will be a future millionaire, check out our latest tools.
   -------------------------------------------------------------------------------------------------------

   Amesh just celebrated his 71st birthday. He is looking for a product that provides continued growth in a tax-sheltered environment. What should he do with his existing Registered Retirement Savings Plan?

    

   Did you know?
   It is mandatory that you convert your RRSP to a RRIF by December 31st in the year you turn 71. Check out Equitable Life’s RRIF Payment Calculator.

    

   Share calculators using your Facebook, Twitter or LinkedIn account.

   
    
9. THREE new ways to help make your Savings & Retirement business run smoother
   As of August 20, 2022, EZcomplete® will include several new features that allow applications to be completed faster and easier:
   
   1. Prefilled Fund Transfer Form
   The transfer form will be generated with the information from EZcomplete and included in the EZcomplete signing package, saving you time.
   
   
   
   2. Client eSignature Audit History and Document Download
   If you choose the e-signature option for the client, you’ll be able to download a copy of the e-signed transfer forms and the signature audit history.
   
   
   3. Email the Client Contract Info and Fund Facts Before Signing
   You'll now be able to email Point of Sale materials (Contract & Info Folder and Fund Facts) to clients before they provide their e-signature.
   
   
   Log in to EZcomplete today!
    
   Speak to your Regional Investment Sales Manager to learn more!
   
   
   
    
10. 7% No Load CB5 Initial Commission – Limited time offer extended to December 31, 2022 for Investment

     

    We are pleased to announce the temporary increase to the CB5 sales option initial commission from 5.6% to 7.0% has been extended to December 31, 2022 on Pivotal Select™ Investment Class (75/75) only.* 
    
    
    
    Equitable Life is committed to offering advisors and clients product, service, and feature choices that best suit their needs. We are pleased to offer multiple sales charge options, three distinct guarantee classes, and a diverse selection of investment funds to align with advisors’ and clients’ unique needs.
     
    For more information, please contact your Equitable Life Regional Investment Sales Manager.
     
     
     
    * Equitable Life reserves the right to end the campaign, at any time and without notice. Prior temporary increase to CB5 sales option initial commission for Pivotal Select Protection Class 100/100 and Pivotal Select Estate Class 75/100 ends August 31, 2022.
    ** Applies to FundSERV trades occurring between September 1 and December 31, 2022. Initial commission on non-FundSERV trades occurring between September 1 to December 31, 2022 increases from 4% to 5%. Initial commission is subject to a chargeback.
     
    ™ or ® denote trademarks of The Equitable Life Insurance Company of Canada.