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  1. Update - Travel Assist Coverage*

    Last Friday, we announced that plan members with Travel Assist on their benefits plan will not be eligible for coverage if they departed the country after the Government of Canada issued its Global Travel Advisory.

    When the Government issued its advisory late Friday afternoon, we felt an obligation to let prospective travellers know as soon as possible so they could make informed choices about their travel. Since then, we have been made aware of a number of situations where plan members were unable to change their travel plans and need our continued support.

    To provide that support, we have revised our position. We will continue to cover plan members for all eligible emergency medical expenses, including those related to COVID-19, for trips outside Canada. Given the global situation is evolving quickly, we will continue to monitor developments and update you accordingly.

    In spite of this, we strongly urge your clients to advise their employees not to travel outside of the country at this time. The risk is high and the options for returning to Canada are becoming limited. Further, we urge your clients to advise their employees who are outside the country to return to Canada earlier than scheduled, if possible.

    If a plan member is currently travelling abroad and is experiencing symptoms or is hospitalized with suspicion of the coronavirus, they should contact Travel Assist at the numbers listed below for assistance and to confirm their coverage.

    • Toll-free Canada/USA: 1.800.321.9998
    • Global call collect: 519.742.3287
    • Allianz Global Assistance ID #9089

    We will continue to update you as the situation develops.

    We will update the announcement on our Plan Member website to reflect this change.

    We apologize for any confusion or inconvenience our earlier announcement may have caused.

    *Indicates content that will be shared with your clients

  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. Most employers staying the course on benefits during COVID-19

    With businesses suffering hardship due to COVID-19, employers are turning to you for advice on their benefits plans during these difficult times. We’ve received numerous questions from advisors about changes our clients are making to their plans during this crisis.

    So far, the vast majority of clients are standing pat and taking a wait-and-see approach. Plan amendments have been the exception – fewer than 1% of our clients have made COVID-19-related amendments as of mid-April. Almost all are clients with fewer than 50 lives.

    We know that many of our clients have experienced layoffs, but hardly any have cancelled benefits. Fewer than 0.1% have terminated benefits to date.

    Below is a snapshot of plan amendments and terminations relative to our overall block, and an overview of the types of amendments we’re seeing.






    COVID-19-related plan changes on Equitable Life’s block of business

    As of April 15, 2020
    Plan-changes.pngNature-of-amendments.png

    Have clients who need to make a change?

    We know this is a difficult time for Canadian employers. If you have a client who needs to make a change to their plan, please contact your Group Account Executive or myFlex Sales Manager. We have a range of options to help them manage, and changes can be made quickly. The average turnaround time for COVID-19-related amendments is currently about four days.

    We’re happy to work with each employer to understand the options that suit their specific situation best.

  4. Insights from a pandemic: STD claims during COVID-19

    The spread of COVID-19 has had a significant impact on short-term disability (STD) claims. We’re providing an update on what we’ve seen so far in terms of STD experience on our block.

    Claim volumes

    Initially, as COVID-19 started to spread, STD claims ramped up quickly as plan members tested positive for or developed symptoms associated with the virus and were unable to work. Overall, we saw a 34% increase in the volume of claims on our block in Q1, compared with the first quarter of 2019, primarily due to COVID-19-related claims.

    Since then, we’ve seen the number of COVID-19-related STD claims slow. Claims levelled off to a 21% year-over-year increase by the end of May. We haven’t seen any meaningful increase in STD claims related to mental health.

    Most of the COVID-19-related STD claims so far have been in the manufacturing, retail and healthcare and social assistance sectors where physical distancing can be challenging.

    Somewhat surprisingly, Alberta had for the largest share of STD claims on our block, accounting for 40% of claims, followed by BC with 28% and Ontario with 21%.

    Claim durations

    While STD claim volumes have increased, we’ve seen a notable decrease in claim durations so far this year. As of the end of May, 59% of closed claims resolved in the first two weeks, compared with only 20% the previous year. This is expected given the nature of COVID-19 and that, for most people, symptoms dissipate within about two weeks./p>

    Of the STD claims we’ve approved, approximately 25% were paid for the full 14 days. In most cases, this meant the plan member had tested positive for COVID-19.The remaining 75% of paid claims were paid based on the elimination period in the contract, with the most common elimination period of 7 days accounting for 35% of paid claims.

    We will continue to provide timely updates on any development/p>

  5. New segregated fund sales charge option from Equitable Life of Canada
    On December 7, 2020 Equitable Life® will add a new No Load CB5 (NL-CB5) sales option with a 60-month chargeback schedule to the Pivotal Select™ segregated funds lineup. This new sales charge option complements the recently launched No Load CB (NL-CB) option which has a 36-month chargeback schedule.

    This new sales option for Pivotal Select gives you and your clients five sales charge options to choose from: Low Load (LL), No Load (NL), No Load CB (NL-CB), No Load CB5 (NL-CB5) and Deferred Sales Charge (DSC). The addition of NL-CB5 provides an option for those advisors who want to increase the upfront portion of their commission. The benefit to clients is no Deferred Sales Charge to contend with.  If your client chooses to withdraw funds within 5 years after purchase, there is a chargeback of commission to you.

    By offering five sales charge options, the choice between three distinct guarantee classes (Investment Class (75/75), Estate Class (75/100) and Protection Class (100/100)), and a diverse selection of investment funds, the Pivotal Select contract provides the flexibility to build an investment solution that meets the needs of your clients.

    Need to meet with your client online? Our EZcomplete® application makes it easy to process your non-face-to-face applications and do business with Equitable Life. EZcomplete gives you the option to conduct your non face-to-face business easily and quickly, enabling your clients to provide their signature remotely on their own device.

    For more information about Equitable’s NL-CB5 or any of Equitable’s products, contact your local Regional Investment Sales Manager or our Advisor Services team at 1.866.881.7427 Monday to Friday 8:30 a.m. – 7:30 p.m. ET or email savingsretirement@equitable.ca.
     

    To learn more, click here. 

  6. Like a summer breeze – Applying for LIFE insurance just got easier!

    What has changed? 

    A resting electrocardiogram (ECG) is no longer required for most LIFE cases.
    •    That’s right! We eliminated the resting ECG as a routine age/amount requirement for most life  insurance applicants.
    •    Of course, we may still request an ECG in certain cases at our underwriters’ discretion – for example, if the client has a history of diabetes or smoking. 


    Why did we do this?

    It’s simple – Equitable® is dedicated to continually enhancing the client and advisor experience. By eliminating the ECG step for routine applications, life insurance clients can obtain the coverage they need more quickly and with less effort.


    Updated resources coming soon!

    The tools below are being updated shortly to reflect the above change:
    •    Our age/amount schedule for Life insurance products 
    •    The underwriting requirements built into our illustration tool
    •    Our paramedical service providers’ ordering system

    Until then, if you see an ECG as a listed requirement for your client in any of the above, there is no need for you to order the ECG unless we specifically ask for it. 

    Questions? Please contact your local Equitable wholesaler to learn more.

    View our Evidence of Insurability Schedule (#1343) – (see p.1 chart for Life products).



    ® and ™ denotes a trademark of The Equitable Life Insurance Company of Canada.
     
  7. Equitable Now Accepts eSignatures on all documents (Ind. Ins. & S&R)

    View the Guide to completing eSignatures


    What are the benefits?
    ● It’s secure because you no longer need to upload or email documents to us.
    ● It also removes a step in the process for you -  we will get the eSigned documents directly once all signatures are completed and therefore you no longer need to notify us once the documents are signed.
    ● Your documents will be processed quickly and efficiently.

    How does this work?
    ● Including esign@equitable.ca as a non-signing reviewer is the preferred method as it ensures the security embedded documents are accurately and immediately available for Equitable. We will be automatically notified when signing is complete and will download eSigned forms immediately for processing.
    ● If not using esign@equitable.ca we require the original signed form and audit trail with all the security features intact.
    ● The email addresses used to sign must match what is in our file (as provided on the application, for electronic policy delivery or through previous communication). If an email address has changed, or we don’t have an email contact for the signer, we will follow up for confirmation.
    ● We will accept all eSigning Vendors that have the functionality to place the eSignature in the correct signature fields on all applicable documents. If the eSigning vendor does not have the functionality to do this, we cannot accept it. 


     
    ® denotes a registered trademark of The Equitable Life Insurance Company of Canada.
  8. Why tax refunds aren't always good It’s important for advisors to help clients understand their finances. Many people think getting a tax refund is good, but that's not always true. Here are some reasons why.

    1. Overpaying Taxes
    A refund on a tax return means the client paid too much in taxes during the year. This is like giving the government an interest-free loan. Instead, clients could use that money each month for savings or investments.

    2. Missed Investment Chances
    When clients overpay taxes, they miss chances to invest that money. It could have been earning interest or growing in value instead of sitting with the government.

    3. Poor Financial Planning
    A big tax refund can show poor financial planning. It's better if clients break even, meaning they don't owe much and don't get a big return. This shows their tax withholdings are accurate.

    4. False Sense of Security
    A large tax refund can make clients feel falsely secure. They might spend it quickly instead of saving or investing it wisely.

    5. Financial Hardship
    Overpaying taxes can make it hard for clients to manage their money during the year. They might struggle with monthly expenses or saving for emergencies.

    Advisors should teach clients about the downsides of tax refunds. By adjusting their withholdings, clients can manage their money better and take advantage of investment opportunities. Aim for a balanced tax situation to improve financial health.

    Help clients make the most of their investment opportunities this tax season. For more information, contact your Director, Investment Sales.

    Date posted: March 20, 2025
  9. Get to know our large case experts

    New episode in our Ask our Experts video series

    At Equitable®, we’re committed to the large case market. Our dedicated team of experts is here to support you from application through to policy placement.

    Today, we are thrilled to share the second episode of Ask our Experts. This mini docuseries features key members of our large case team. They talk about their work, their perspectives, and their role in the large case experience.

    Watch Ask our Experts Episode 2 featuring Kevin Till, AVP of Individual Life Pricing.

    Kevin chats with us about:
         • What he finds interesting about large case pricing.
         • How quickly Equitable can turn around a large case quote.
         • The difference between a mutual and a stock insurance company.
         • Equitable’s reinsurance strategy.



    In case you haven’t seen it…
    Watch Ask our Experts Episode 1 with Cindy Shirley, Chief Underwriter and Claims Risk Management.

    Learn more:
    Visit our large case markets webpage to learn more about our team of dedicated experts.

    Do you have a large case opportunity? Talk to your wholesaler to learn more.

    ® and ™ denote trademarks of The Equitable Life Insurance Company of Canada.
     
  10. New Individual Wealth tools to support client conversations


    Equitable has new resources now available on EquiNet® — each designed to help support client conversations and make it easier to explain investment strategies in a clear and meaningful way. 

     

    New case studies to help support client conversations  *NEW*
    We know some financial concepts can be tricky to explain. To help, we have created a set of straightforward, advisor‑focused case studies designed to deepen your understanding and help you better grasp the mechanics of our product options, understand the “why,” and translate that knowledge into clear, client-friendly conversations.


    The four new case studies cover:

    • Asset rebalancing

    • Householding

    • Resets

    • Segregated funds vs. mutual funds



    Introducing our fund manager spotlight pages 

    You can now find spotlight pages for every fund manager on the Equitable Guaranteed Investment Funds™ platform. Each page will help you get to know each manager’s vision, investment philosophy and mission. 

    Quickly access: 

    • An overview of each fund manager  

    • Mission and investment approach 

    • Available funds on Equitable GIF 

    • Additional value-added content — including videos, helpful links and more. 

     

    New sample portfolios to help guide client discussions

    A new set of sample portfolios designed to help illustrate how different investment styles might align with a client’s goals are now available. These are not recommendations — they are conversation starters. Use them to help clients visualize: 

     

    • How their strategy could look in practice. 

    • Trade-offs between different investment styles. 

    • How various approaches could support long‑term planning. 


    Have questions or want support navigating any of these new resources? Contact your Director, Investment Sales today.