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  1. Death Claim Requirements
  2. [pdf] RRSP to RRIF Conversion Form
  3. What is the process to change the agent on record for a policy?
  4. Transaction Authorization Requirements table for Savings & Retirement advisors Equitable Life® is here to help. When it comes to getting certain transactions authorized in a non face-to-face environment, you might need some direction. We’ve got you covered.

    Equitable has created a quick reference table on EquiNet™. The Transaction Authorization Requirements table provides details on how to get certain forms approved and the best way to get them to us. Each form listed gives the authorization type that is accepted. We’ve also provided details when we receive a document that is considered not-in-good-order.

    As we navigate through COVID-19, we will continue to update this table. This means you have the most current information available at your fingertips, 24/7.

    Have other questions about COVID-19? Check out our Savings & Retirement COVID-19 update page on EquiNet as well. This page provides the latest news and information for Savings & Retirement advisors.

    Still have a question? Give our Advisor Services team a call Monday to Friday 8:30 a.m. – 7:30 p.m. ET at 1.866.884.7427 or email savingsretirement@equitable.ca, or your local Regional Investment Sales Manager.
     
  5. Getting a tax refund is exciting, but should it be?
    Do clients know that when a tax refund is issued, it means they are giving the government an interest-free loan? If a client receives a tax refund, it may mean the client’s employer is withholding too much tax.  Here’s how to change that.

    The client can complete and submit Canada Revenue Agency (CRA) form T1213 (Request to Reduce Tax Deductions at Source).

    The client will indicate which regular deductions and non-refundable tax credits to qualify for. These would include things like regular Registered Retirement Savings Plans contributions, childcare expenses, etc. When approved by the CRA, the client will see more money on every pay. A client might even want to make this request to reduce the tax withheld if a large bonus or vacation pay is anticipated.

    Encourage clients to use the additional cash flow to increase monthly contributions, support a Retirement Savings Plan or Tax-Free Savings Account or repay an investment loan. Increasing savings each year – even by a small amount – can have a substantial impact on retirement savings. For additional questions, contact your Regional Investment Sales Manager.
  6. NEW Process for Applications for Term Conversion to Equimax with Excelerator Deposit Option (EDO) Great news! We are now allowing term conversions to Equimax with EDO with no additional underwriting provided the maximum net amount at risk (NAAR) for the new Equimax policy does not exceed the Term coverage amount being converted. 
     
    We have created an easy-to-use Excel worksheet (1616 worksheet) to help you confirm that the conversion to Equimax with EDO satisfies the NAAR requirement and will assist you with properly completing the Application for Term Conversion (Form 1616). This worksheet is only for use in situations where the term coverage is to be converted to Equimax with EDO and must be submitted along with the signed illustration and completed Application for Term Conversion. The maximum NAAR can be found on the Underwriting page of the illustration report.
     
    The signed Equimax illustration, application and term conversion worksheet should be sent to: inforcelifemail@equitable.ca.
     
    Resources can be found on Equinet:
  7. Updated Temporary Resident Guidelines – Student Permit Requirements We are pleased to announce that we have clarified the student permit requirements of our Temporary Resident Guidelines.
    ● The guidelines for Student Visa holders attending elementary and secondary school students have been outlined in further detail.
    ● The guidelines for Student Visa holders attending post secondary educational institutions have been enhanced with additional details regarding professional programs, as well as post-secondary programs not included in the professional program category. 

    Read more about the details of the changes in the updated Residency Guidelines form 1530.

    We have also added an additional note to the 1343 Evidence of Insurability to specify the following:
    ● If in Canada for less than 1 year, Paramedical, Blood Profile with Hepatitis screens and Urinalysis tests are required for applicants of attained age 17 or over.

    Read more about the details of the change in the updated Evidence of Insurability 1343.

    Please contact your local wholesaler for more information. 
     
  8. New! Digital Beneficiary Change Request option for clients (Individual insurance) Great news! Equitable® has introduced a new Digital Beneficiary Change Request option for life insurance clients on Client Access. 

    Clients with eligible plans can now choose to make beneficiary changes directly online. It is another step in Equitable’s journey of enhancing the client experience.

    Which plans are eligible?

    Eligible
    • Individually owned plans with revocable beneficiary designations.
    • Plans with policy owners not living in Quebec.

    Not eligible
    • Plans with irrevocable or preferred beneficiaries.
    • Plans with policy owners living in Quebec.

    Our previous process, using form (#671BCF), has not changed. It continues to be available for those who prefer that option.


    Note: The new Digital Beneficiary Change Request is currently only available to clients. We will be launching an advisor online option soon. Going forward, we will not make self serve transactions available to clients ahead of advisors.

    Learn more: Please contact your local Equitable wholesaler. 
  9. Request standard inforce illustrations with the click of a button
    At Equitable®, we are making continuous improvements to our advisor and client services. We are excited to share an upcoming enhancement. 


    What’s new?


    Beginning on August 15, 2024 , you and your clients will be able to request standard, current inforce illustrations—at any time—for your clients’ whole life and universal life policies with the click of a button.

    Currently, standard inforce illustrations for whole life and universal life policies are autogenerated only on policy anniversaries. These inforce illustrations will no longer be autogenerated after August 15, 2024.

    Please note: For specialized illustrations—such as   those with segregated funds, D2000/D2000+ policies, policies where the insured’s age falls outside existing illustration parameters, or policies that were originally from Clarica—you will still need to use the inforce illustration request form  for whole life or universal life policies.  


    How do I access this?


    You can request an inforce illustration by logging into EquiNet® and going to the Policy Details page via Policy Inquiry. Under the Coverage tab, you will now see a button called Inforce Illustration Request. Click the button to request the illustration. Learn more about how to access here. 
     
  10. Mark Schmehl from Fidelity Investments talks special situations and global innovators with Equitable  ***EXCLUSIVE TO EQUITABLE ADVISORS***

    This month, Equitable® welcomes Mark Schmehl, Portfolio Manager from Fidelity Investments Canada®, who will highlight the Special Situations and Global Innovators fund portfolios.

    Equitable’s Savings & Retirement webcast series spotlights various aspects of our competitive fund lineup and product offerings. This series will give advisors an opportunity to: 
    • learn more about various products and product features, 
    • hear from industry professionals, 
    • learn about investment strategies; and so much more. 
     

    Learn more

     
    Continuing Education Credits 
    This webcast has been submitted for continuing education (CE) approval for all provinces excluding Quebec via the Insurance Council of Manitoba and Alberta Insurance Council. Upon approval, you will be sent an email notification to come back to the webinar presentation console to download your personalized certificate form the tool bar. To be eligible for CE credits, you must register individually, watch the webcast in full and complete a short quiz. 

    Date posted: September 11, 2024