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  1. 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. 
  2. 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
  3. Product updates - See our latest!
    Good news!  The updates to Equitable’s individual insurance solutions, scheduled for October 5th, 2024, as announced last week, are now in effect!    

    What’s new in this product update?
     
    1. A new premium rate band for Equimax® policies with $5 Million and more of basic  life insurance coverage.
    2. A new illustration for switches from Paid-up Additions (PUA) to the Cash dividend option when premium offset is selected.
    3. A new way to calculate commission on Equimax life insurance, Term life insurance, and EquiLiving® critical illness insurance plans when clients choose monthly payments.
    4. A new life Evidence of Insurability Schedule (Form #1343) 

    …and there’s more!





    Visit our new splash page for a complete summary of the product changes, our latest video, and links to our sales tools and important resources:
    English-Button.jpeg French-Button.png Chinese-Button.png
    *Video available in English with French and Chinese sub-titles
     
     

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

    Need more information?  Please contact your Equitable wholesaler.





    ® or TM denote trademarks of The Equitable Life Insurance Company of Canada.
  4. New! Digital Beneficiary Changes – for advisors In July, Equitable® launched a new Digital Beneficiary Change Request option for life insurance clients using Client Access. 

    We have just updated this process for advisors. You can now submit digital beneficiary change requests for eligible clients using Policy Inquiry. No forms needed!

    It’s easy! Just log in to EquiNet®, then select Policy Inquiry from the Menu bar. 

    This simple process is another step in our journey towards enhancing your experience of working with us.










    Which plans are eligible*?
     
    Eligible Not eligible
    Individually or jointly owned plans with revocable beneficiary designations. Plans with irrevocable or preferred beneficiaries.
    Plans where all policy owners are living outside Quebec. Plans with policy owners living in Quebec.

    *These eligibility rules apply to requests made online by both clients and advisors. 

    Our previous ‘manual’ process (using form #671BCF) continues to be available for those who prefer that option.

    Learn more
    Please contact your Equitable wholesaler for more details.




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

  5. Preferred life insurance solutions - corporations
  6. Understanding Life Insurance Replacements at Equitable All provinces require completion of a life insurance replacement declaration (LIRD) or equivalent form if intending to replace an existing insurance contract with a new one. The LIRD helps clients think carefully before terminating their existing policy. It contains important questions for them to consider. 

    When do you need to send a LIRD to Equitable®?

    Refer to our: LIRD requirements by province     

    Equitable needs to receive the LIRD only in provinces where it is mandated. Please check the province-specific requirements (linked above). 

    If a client is replacing a life insurance contract with a new one with us, and the owner lives in one of the specified provinces, the LIRD must be sent to Equitable with the application. It should include a written explanation of the questions reviewed with the client and must be signed and dated. 

    Important reminder: While you will always complete a LIRD, do not submit the LIRD unless we require it. Doing so may delay the new business process.

    Note: The LIRD does not terminate the original policy; it indicates intent to do so.

    Questions? Please contact your local Equitable wholesaler if you need additional information.

    ® or TM denotes a trademark of The Equitable Life Insurance Company of Canada.  
  7. New flexibility with Equitable’s Term Exchange option Great news! Equitable® has just added our Term 30/65 plan as an option for term exchanges! This gives clients greater flexibility to choose a term plan that can adapt to their specific needs. 

    Clients can exchange their Equitable 10-year or 20-year term plans to a Term 30/65 plan as their financial needs change – without additional underwriting.

    What you need to know:

    •    A term plan that is a result of an exchange option cannot be exchanged again
    •    Exchange is available between the 1st and 5th coverage anniversary. 
         o    Only up to the insured’s 65th birthday for exchange to T20
         o    Only up to the insured’s 55th birthday for exchange to T30/65
    •    To request a term exchange, use the Term Exchange form.

    For additional information, refer to the Term Advisor Admin Guide on EquiNet®,  or contact your Equitable wholesaler.

    ® or TM denotes a trademark of The Equitable Life Insurance Company of Canada.
  8. Exciting update: External transfer now available on EZtransact! We are thrilled to announce a new feature that will make your work easier and more efficient.

    What’s new this quarter? 
    The External Transfer function was introduced to Equitable’s EZtransact® on May 14.

    Benefits of this enhancement:                                                                                                                                                                          
    This feature is part of our strategic plan to help make transactions smoother for you. It was already available in EZcomplete®, and now it’s on EZtransact too. This means you won’t have to search for information about the relinquishing institution anymore. You can submit requests with ease.

    External Transfer Functionality:

    •  You can digitally request a transfer of funds from other institutions to Equitable.
    •  Information about the relinquishing institution will be available on EZtransact, so you don’t have to search for it.
    •  Both full and partial transfer requests are available.
    •  It’s available for registration types that don’t need the RC720/RC721 form and for individual accounts.
    If you have any questions, reach out to your Director, Investment Sales.

    When we work together, success is mutual.

    Date posted: July 3, 2025 
  9. Request standard in-force 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 in-force illustrations—at any time—for your clients’ whole life and universal life policies with the click of a button.

    Currently, standard in-force illustrations for whole life and universal life policies are autogenerated only on policy anniversaries. These in-force 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 in-force illustration request form  for whole life or universal life policies.  


    How do I access this?


    You can request an in-force 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. Anti-money laundering legislation changes for Savings & Retirement forms and applications
    To comply with the Government of Canada’s anti-money laundering legislation and FATCA/CRS changes, Equitable Life® has updated its Savings and Retirement forms and applications. New online forms and applications are available to download from EquiNet®. Paper applications are also available to order from Equitable’s Supply Team. For a complete list of all forms and applications affected by the anti-money laundering legislation, refer to Anti-money Laundering Legislation Requirements Summary.
     
    What should I do if I have existing paper applications?
    If you currently have paper applications (Form #1383, #1384, #799, #355) with a version date that is before April 2, 2021, Equitable Life will continue to accept them, with the caveat that additional information may be required from you and your client to comply with anti-money laundering legislation.
     
    How long can I use my existing paper applications with a version date before April 2, 2021?
    Paper applications (Form #1383, #1384, #799, #355) with a version date prior to 2021/04/02 (located on the back page and in the bottom right-hand corner of the application) will no longer be accepted after July 1, 2021. If you have applications with a date that is before 2021/04/02, please destroy them and use the fillable/savable PDF on EquiNet. You can also order paper applications from our Supply Team.
     

    Want to be sure you always have the most up-to-date application? Try our EZcomplete® online application platform. EZcomplete makes it easy to process your non face-to-face applications and allows your clients to provide their signature remotely on their own device.
     
    To learn more about the Government of Canada’s anti-money laundering legislation and FATCA/CRS review the following links.
     
    Government of Canada - Guidance on the Common Reporting Standard
    Financial Transactions and Reports Analysis Centre of Canada
     
    If you have any other questions, contact your Regional Investment Sales Manager.
     
    ® denotes a registered trademark of The Equitable Life Insurance Company of Canada.