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  1. IMPORTANT NOTICE: FUNDS WITH DEFERRED SALES CHARGE OPTIONS

    The Canadian Council of Insurance Regulators require all insurance companies to discontinue the sale of segregated funds with Deferred Sales Charge (DSC) effective June 1, 2023*.  

    PIVOTAL SELECT™ SEGREGATED FUND PRODUCTS 

    On May 29, 2023, funds with a DSC or Low Load (LL) sales charge option will be allocated to the No Load (NL) sales charge option of the funds available within the policy. 

    • Any existing amounts held in DSC or LL funds will retain the existing DSC schedule, outlined in the client’s contract. The annual 10% available (20% for RIF policies) for withdrawal without fees continues to apply through to the expiry of the fee schedule. 
    • If the default deposit instructions and/or pre-authorized scheduled deposits the client previously provided include funds with DSC or LL, these instructions will automatically update to NL of the same fund for all future deposits. 

    In alignment with Equitable's current administrative rules, if the client has DSC or LL funds, the client will not be able to deposit No Load Chargeback funds (NL-CB and NL-CB5) within the same policy. 

    For more information, please click here.

    LEGACY SEGREGATED FUND PRODUCTS 

    Ongoing deposits to DSC funds continue when a segregated fund product does not have an alternative sales charge option available within the contract. This applies to the following products: 

    • Personal Investment Portfolio 
    • Pivotal Solutions II 
    • Pivotal Solutions DSC 

    Clients may continue to make new deposits to the DSC funds within the policy. Any new segregated fund deposits, as well as any existing segregated fund amounts within the policy, will retain the DSC schedule outlined in the contract. 

    For more information, please click here.

    Equitable's Advisor Services Team is available Monday to Friday, 8:30 a.m. – 7:30 p.m. ET at 1.866.884.7427 or by email at savingsretirement@equitable.ca. You can also contact your Regional Investment Sales Manager. 
     

    *Draft regulation in Quebec is currently under review which may affect Equitable Life’s approach for clients in the Province of Quebec with legacy segregated fund products. We will continue to monitor provincial regulatory developments. 

    ™ or ® denote registered trademarks of The Equitable Life Insurance Company of Canada. 

    Date posted: May 4, 2023
     

  2. Digital Payment Options for Your Client’s First and Subsequent Annual Payments for Individual Life a This article has been updated to reflect changes to the Pre-Authorized Debit (PAD) for new business annual premiums – see below #2.

    To enhance the ease of doing business with Equitable Life, we have added some additional payment methods to help your clients make their first and subsequent annual premium payments easily.
     
    Three digital payment options for annual premium payments:

       1. Online bill payment - Your client can pay their annual premium easily and quickly by using the online bill payment option through their financial institution. On your client’s banking website, they must set up “EQUITABLE LIFE-INDIVIDUAL LIFE & CI” as a “PAYEE”. Use the 9 (or 7) digit policy number as the “account number” then pay this new “bill”. This is the preferred option for annual payments.  

       2. Pre-Authorized Debit (PAD) - For policies where annual premiums are $2,500 or greater, your client now has the additional option of an annual PAD payment. Your client needs to provide a signed PAD authorization form, or a signed letter of direction that indicates they have read and agree to the terms of the PAD. This is a one-time authorization and needs to be repeated for subsequent annual payments.  

       3. Electronic Funds Transfer (EFT) or Wire Transfer - If online bill payment or a one-time PAD will not meet your client’s needs, such as when transferring funds from another financial institution or business to Equitable Life, and the annual premiums are $20,000 or greater, then an EFT is now an option that is available. A wire transfer is available on an exception basis only and is subject to approval.  

    Please contact your Regional Sales Team or customer service team for further questions.
     
  3. About
  4. Did you miss our Equimax update in December?
    Equimax – a better and stronger solution!

    Discover the latest Equimax updates


    Great news! We’ve made further updates to our Equimax® insurance solution to better serve clients.  

    Here are some of the changes:

    ● A new guaranteed 10 pay premium option for Equimax Wealth Accumulator®. 
    ● You can now add an Excelerator deposit option (EDO) on Equimax Estate Builder® and Wealth Accumulator plans with a 10 Pay premium option (term rider not required at issue of the policy). 
    ● We increased our flexibility with EDO. This will make it easier for clients to stop and start EDO contributions without losing their maximum approved contribution room. On top of that, these changes will apply to all inforce policies. A single set of EDO rules will apply to every Equimax policy whether it’s issued tomorrow or 10 years ago, making it simpler to help clients manage their policies. 
    ● We increased the maximum amount of Equimax coverage that can be applied for without a special quote from $20M to $25M.
      




    Equimax is now an even better and stronger solution. For a full breakdown of these product updates visit our splash page.

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    *Video available in English with French and Chinese sub-titles.

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    Please refer to our Transition Rules for all the details on processing your applications.

    Need more information? Please contact your Equitable wholesaler.

  5. Understanding debt: A key to building wealth Why debt matters in wealth conversations
    Debt is part of life for many Canadians. But not all debt is the same. As an advisor, you can help clients understand their debt and how to manage it. This is key to building wealth and confidence. Financial Literacy Month is a great time to “Talk Money.”

    Types of debt1
    • Secured: This is backed by something the client owns, like a house or car. Its cost of borrowing or interest rate is usually lower.
    • Unsecured: This includes credit cards and personal loans. These debts have no asset behind it and often cost more.
    • Revolving: These are like credit cards. The balance owing can carry over to the next month.
    • Installment: These are like car loans. Clients pay a set amount each month.

    Helping clients manage debt
    • Pay off high-interest debt first:  Credit cards are often a good place to start.
    • Consolidate: One lower-interest loan payment can replace many.
    • Make a budget: Include debt payments and savings.
    • Use insurance-based investments: Segregated funds and Daily/Guaranteed Interest Accounts offer protection and guarantees. These can help clients manage risk while growing wealth.

    Why reducing debt matters
    Less debt can mean more financial freedom. Clients can save more, stress less, and plan better for retirement. It also helps them leave a financial legacy.

    Your role as an advisor
    You do more than sell products. You guide clients to make smart choices. Use this article to start a simple, clear conversation about debt—and how Equitable Individual Wealth solutions might fit into their overall financial picture.

    Talk to your Director, Investment Sales today for more strategies to help clients with debt.

    1 Source : ARC, 2025-03-28
  6. PAR whole life Highlights
  7. NEW MARKETING MATERIAL! Flexibility for supplemental income with Equimax Equitable has created a new piece to help you understand our new Equimax® illustration feature, Paid-Up Additions (PUA) to Cash Dividends, now available!

    Did you know Equimax clients can switch from the PUA dividend option to the cash dividend option by simply requesting a dividend option change?1,2

    You can illustrate this for paid-up 10 pay and 20 pay Equimax plans! Show clients how they can build in added flexibility and use their policy to create a source of future supplemental income by simply changing the dividend option to cash.3
     
    Illustration Considerations:
    ● Works with Equimax Estate Builder® or Equimax Wealth Accumulator®.
    ● Illustrate the Excelerator Deposit Option (EDO) to help build the policy values while the PUA dividend option is in effect. EDO payments can’t be made once the policy is switched to the cash dividend option.
    ● If a client needs temporary insurance coverage – like mortgage protection - illustrate term riders for how long they are needed to meet the specific goal.3
    ● If critical illness coverage is needed our competitively priced 20 pay critical illness riders are a great fit to provide paid-up critical illness coverage.3 

    Clients should apply for the coverage they need. This concept is about flexibility to create a future source of supplemental income.

    Want to learn more? Check out our new marketing piece: Flexibility for supplemental income with Equimax (2077).

    For more information, reach out to your local wholesaler.
     
     
    ® and TM denote trademarks of The Equitable Life Insurance Company of Canada.
    1 Dividends are not guaranteed and are paid at the sole discretion of the Board of Directors.  Dividends may be subject to taxation. Dividends will vary based on the actual investment returns in the participating account as well as mortality, expenses, lapse, claims experience, taxes, and other experience of the participating block of policies.
    2 To request a change to the dividend option complete and submit form 558 (Request for Withdrawal of Dividends, Change in Option, or Premium Offset). A client can request a change to the cash dividend option from any other dividend option regardless of the premium type or whether premiums continue to be payable, subject to our current administration rules and guidelines. Some dividend option changes are subject to underwriting. Underwriting is not required to change from the PUA to cash dividend option, however, underwriting is required to change from the cash dividend option to the PUA dividend option.
    3 This concept is intended to illustrate a one-time switch to cash dividends once premiums are no longer payable for the policy (including premiums for riders). Premiums are paid with after-tax dollars and dividends paid in cash are subject to taxation.  If premiums are payable there will be tax savings for the client to use the before-tax cash dividend to reduce the premium instead of taking it entirely as a cash payment.  This concept is intended for longer term planning, not to meet short term cash needs by switching back and forth between the PUA and cash options. Clients should consider a policy loan or a cash withdrawal to meet short-term cash needs; policy loans and cash withdrawals may be subject to taxation.
     
  8. [pdf] Health Care Spending Account - Plan members
  9. Backdating of insurance applications – New rule now in effect

    Great news! We are making it even easier for you to do business with Equitable Life®. We now allow backdating of life insurance applications by up to 364 days. Previously, the maximum backdating period was six (6) months.

    Backdating can result in lower total premiums for the client over the life of a policy based on their younger age at time of application. But clients must pay all the premiums due for the backdated period up front. Thus, backdating is only beneficial when the total premium savings over the life of the policy are greater than the premium due for the backdated period.
     
    To request backdating beyond six (6) months (up to 364 days)
     No special approval is needed. Simply add a note to the Advisor Sheet requesting backdating or contact us at any time prior to policy issue. This step is only necessary when backdating beyond six (6) months as the application will automatically prompt to save age within the 6-month period.
     
    Note: The maximum backdating period for critical illness (CI) applications remains unchanged at three (3) months.

    Questions? Please contact your Equitable Life Regional Sales Manager for more information. 
     
     
     

  10. [pdf] Levelize the tax on fixed income investments with corporately-owned participating whole life (corpor