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  1. A New Universal Life Insurance Solution for the 21st Century – Available NOW! Introducing a new universal life solution built for the 21st century: Equitable Generations™ universal life insurance is available for sale NOW!


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

     
    Our new Equitable Generations universal life insurance
    Equitable Generations is a universal life product that offers investment options that resonate with today’s 21st 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.

    NEW: EZstartTM Generations
    Today we are launching EZstart Generations which is:
     
    • A mobile-optimized tool for advisors
    • Designed to start a conversation and provide a possible universal life solution in under one minute
    • Goals based - you can see how Equitable Generations™ universal life insurance can perform at different stages of a client’s life.
    Give it a try and use this tool as you are starting the conversation about universal life solutions with clients. EZstart links directly to the EZcomplete® online application for an easy digital experience.
     
    NEW: SMS
    Effective today, September 26, 2022 when you submit an application, you can opt-in to receive text message updates for your new business applications.
    That’s a text message when:
    • The application is received,
    • A decision has been made by Equitable Life,
    • The policy is ready for delivery, and
    • The commissions have been triggered.
    Please note, this number is not monitored for incoming texts. Please contact Customer Service with any questions.
    Learn more

    Find all the exciting details on our virtual launch splash page (www.equitable.ca/ul) and watch our informative videos to get all the information you need to start selling Equitable Generations universal life.


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


    Click on the Marketing Materials tab on EquiNet® for all of our new Equitable Generations marketing materials.

    Please contact your Regional Sales Manager for more information. 

     
    TM and ® denote trademarks of The Equitable Life Insurance Company of Canada. 
     
     
  2. Important Updates to Policy Settle requirements and Commissions  
    • If you are part of the WFG channel, please login  to review important updates here.
     
    • If you are part of the MGA / National Accounts channel, please login to review important updates here.
  3. [pdf] Policy Owner Request for New Advisor
  4. Equitable Life Group Benefits Bulletin - Group Advisor Bonus Enhancement Announcing our Enhanced Group Advisor Bonus Program
     
    We have enhanced our Group Advisor Bonus program to make it more competitive and to help support you in building your business with Equitable Life in 2022. We have updated the structure of the bonus program to make it easier for you to qualify, as well as increased the amounts we pay.
     
    Beginning for sales effective in 2022 we have:
    • Decreased the minimum premium required to qualify for the Sales Bonus to $35,000 from $150,000.
    • Moved away from using Graded Annualized Premium for both the Sales and Persistency Bonus and are using actual Annualized Premium instead, up to a maximum of $500,000 per policy. This simplifies the program and aligns us with the rest of the industry.
    • Increased the Sales Bonus payout to up to 5% of Annualized Premium for Traditional Sales and up to 3% of Annualized Premium for myFlex sales. 
    • Changed the minimum annual premium threshold for the Persistency bonus to $500,000 of capped Annualized Premium from $500,000 of Graded Annualized Premium to make it easier for you to qualify.
    Premiums associated with benefits on retention accounting or Administrative Services Only (ASO), Equitable HealthConnector® services, Group Critical Illness and Health Care Spending Accounts will no longer be counted towards the Sales Bonus.
     
    These enhancements do not apply to advisors who are not part of our standard Advisor Bonus program and who have special bonus arrangements in place. If you have a special bonus arrangement in place and would like to switch to the standard program, please contact your Group Account Executive or myFlex Sales Manager.
     
    Below is a table comparing the current Sales Bonus structure and payout. For full details, please refer to the Group Advisor Compensation and Recognition brochure.
     
    Enhanced Sales Bonus
    For the new Sales Bonus, the Payout Band is based on total combined Traditional and myFlex Benefits new annualized premium (capped at $500,000 per policy). The Sales Bonus Rates for both Traditional sales and myFlex sales are shown in the table below:
     
    New Sales Bonus Rates
    Payout Band Capped Annualized Premium* Sales Bonus Rate
    (from first dollar)
    Traditional Sales myFlex Sales
    1 $34,999 and under 0% 0%
    2 $35,000 to $99,999 3.5% 1.5%
    3 $100,000 and over 5% 3%
    *Total Traditional and myFlex new business sales combined, capped at $500,000 per policy.
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    If you have any questions about the Advisor Bonus enhancements, please contact your Group Account Executive or myFlex Sales Manager.
     
  5. Supporting clients at claim time with KIND Did you know that our KIND™ program is available for new sales of Equitable Generations™ universal life and Equimax® participating whole life?

    In September 2022, we introduced our KIND program with our Equitable Generations launch and in February 2023 we announced the addition of KIND to new sales of Equimax.

    Our KIND program includes:
    ●  Compassionate Advance* - access up to 50% of your coverage to a maximum amount of $100,000 if the insured becomes terminally ill1
    ●  Bereavement Counselling - benefit for beneficiaries up to $1,000 total1
    ●  Snap Advance*- providing immediate access (if needed) of a portion of the death benefit up to $25,000 or the cash value of the policy, whichever is less when a death claim is submitted1
    ●  Living Benefit - tax-free access to the policy cash value in the event of severe disability1 We offer benefits to clients and their heirs with our KIND program. This is an example of our commitment to our clients.

    We offer benefits to clients and their heirs with our KIND program. This is an example of our commitment to our clients.


    To learn more about KIND with Equitable Generation or Equimax, read our our KIND Caring Claim Support Package or contact your local wholesaler.


    View our KIND video on YouTube or Vimeo! 
     
     
    ® and TM denote trademarks of The Equitable Life Insurance Company of Canada.
    * Snap Advance and Compassionate Advance are non-contractual and may be altered or terminated by Equitable Life at any time without notice
    1 Subject to meeting the eligibility requirements.
     
  6. Policy Loan History
  7. Product at a glance- Children
  8. eDelivery of a Contract - New Business
  9. 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.
     
  10. Equitable Life and Cloud DX

    We have partnered with Cloud DX to provide remote monitoring for all our EquiLiving® Critical Illness Insurance eligible claimants.*

     A Canadian first. Equitable Life’s Critical Illness eligible claimants, will now be supported beyond diagnosis and through treatment and recovery. Equitable Life is proud to announce that it has partnered with Canadian digital health innovator, Cloud DX, to provide a Virtual Monitoring Care service as part of its Critical Illness packages. We are pleased to offer this service on all new and existing EquiLiving coverages. 

    View our press release announcing Cloud DX and Equitable Life’s partnership, and watch our video featuring Donna Carbell, Senior Vice President, Individual Insurance.

    *Cloud DX is a non-contractual benefit and may be withdrawn or changed by Equitable Life® at any time. To be eligible for the Cloud DX offering, a claimant must be age 12 or older and have received payment on or after February 12, 2022 for a covered critical condition benefit under an individual critical illness insurance policy issued by Equitable Life. An early detection benefit payment does not qualify.   Equitable Life pays for 6 months of Cloud DX subscription fees.  If the claimant wishes to continue the Cloud DX service after 6 months, they will be responsible for the cost.