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Segregated funds – a secure choice for small-business owners Canadian small-business owners may be gambling with their financial future by foregoing personal financial protection, especially during times of economic uncertainty. Small-business owners can potentially put their personal property, investments, and even their retirement savings in jeopardy, if they fail to protect these assets. One way to do that is through investing with segregated funds.

Because segregated fund contracts are held outside of the estate, they offer privacy and discretion in passing assets to those you care about most. Segregated funds offer the potential for creditor protection on both registered and non-registered assets, which can be especially advantageous to small business owners and entrepreneurs.

Segregated funds offer small-business protection:
- 75% - 100% of your premiums (less withdrawals) are guaranteed when your contract matures or on your death.
- Bypass probate and associated fees by naming a beneficiary.
- No deferred sales charges at death.
- Quick payment to beneficiaries after you pass away.
- Private and confidential beneficiary designations.
- Creditor protection may be available in the event of bankruptcy or lawsuit.
Equitable’s Pivotal Select™ may offer protection from the claims of creditors. Self-employed professionals and business owners should consider protecting their personal assets from professional liability. In the event of bankruptcy or lawsuit, your personal assets may be protected from seizure if you have named your spouse, child, parent or grandchild as beneficiary. Having this added protection can help secure your financial future.

Learn more about Corporately Owned Segregated Funds and Pivotal Select. If you have any questions, please contact your Director, Investment Sales.

Date posted: October 10, 2024
Administration Guide
[pdf] RRSP to RRIF Conversion Form
[pdf] Final Protection and Living Protection Application for Change
Important information regarding use of the form 350 Application for Life and/or Critical Illness Ins
As of February 12, 2022 the new version of the form 350 (2022/02/12) was available on EquiNet® (Individual Insurance>Forms), and can be ordered from our Supply department using form 1390 Supply Order Form (Life and Health)

To apply for the new 10 pay premium option on Equimax Estate Builder, or the new EquiLiving plans or riders, the new version of the form 350 (2022/02/12) Application for Life and/or Critical Illness Insurance must be used. The new version of the 350 will include the option to select the new features.

We will not accept the 350 (2021/04/02) version of the application with a hand-written note indicating the new 10 pay premium option, or the new EquiLiving plans or riders.

After March 31, 2022, we will no longer accept the 2021/04/02 or earlier version of the 350 application for any life or critical illness products.
Update to DSC Reimbursement for WFG advisors

Equitable Life now accepts WFG’s Commission Rebate Disclosure form instead of Equitable’s Deferred Sales Charge Reimbursement (DSC) Request Form (Form #1605). Allowing the use of WFG’s form will help streamline the process for WFG in submitting DSC reimbursements.

Previously, any DSC reimbursement received from Equitable Life required WFG advisors to submit form #1605 and provide proof of the DSC charge from the relinquishing institution, along with a cheque for the reimbursement. The WFG disclosure form and cheque from WFG is now all that is required for the initial submission. Proof of the DSC charge from the relinquishing institution is not required in all instances, but may be requested by Equitable Life and must be available if requested.

If you have any questions, contact your Regional Investment Sales Manager or Equitable Life’s Advisor Services Team Monday to Friday from 8:30 a.m. to 7:30 p.m. ET at 1.866.884.7427 or email savingsretirement@equitable.ca.
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