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  1. Advisor Guide
  2. [pdf] Daily/Guaranteed Interest Account Advisor Guide
  3. A New Universal Life Solution for the 21st Century – Coming Soon

    Introducing a new Universal Life solution built for the 21st century: Equitable Generations™ universal life insurance will be available for sale September 26, 2022.

     

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


    Our new Equitable Generations
    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.

    Features of Equitable Generations:
    • 34 fund options, including 18 new investment options, tracking funds managed by Fidelity™, Dynamic™, Invesco™ and more.
    • 3 sustainable investment “ESG” (Environmental, Social & Governance) options – because today’s buyer cares as much about impact as they do about returns.
    • Target date funds that auto-rebalance over time so that as a client approaches retirement, the fund adjusts its risk automatically.
    • A lower cost insurance with no policy fee, with the opportunity to purchase insurance protection, more opportunity to build wealth, or both.


    Supporting you at claim time with KIND™

    This service will include the following components:
    ● Living Benefit
    ● Bereavement Counselling benefit
    ● Snap Advance*
    ● Compassionate Advance*

    * Snap Advance and Compassionate Advance are non-contractual and may be altered or terminated by Equitable Life at any time without notice.

    New illustration software available
    The updated illustration software will be available for download after 9 a.m. ET on Tuesday, September 6, and will include the new Equitable Generations product. See the Equitable Sales Illustrations Update for information on how to download the software or check for updates.  

    Learn more
    Transition rules are available

     

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

    Watch for more information and get ready to sell Equitable Generations universal life as it becomes available on September 26.

    Please contact your Regional Sales Manager for more information. 

    Invesco® and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence. Invesco is a registered business name of Invesco Canada Ltd.
    Dynamic Funds is a registered trademark of its owner, used under license, and a division of 1832 Asset Management L.P.
    Fidelity is a registered trademark of 483A Bay Street Holdings LP. Used with permission.
    Equitable Life, Equitable Life of Canada, KIND and Equitable Generations are registered trademarks of The Equitable Life Insurance Company of Canada.

  4. 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. 
     
     
  5. [pdf] B2B Loan application process for Equitable Life of Canada
  6. 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.
     
  7. Special 5% rate for clients until Pivotal Select FHSA is available  

    Great news for clients saving for their first home! For a limited time, clients who intend on setting up a First Home Savings Account (FHSA) with Equitable Life® can deposit money to a Guaranteed Interest Account (GIA) now and enjoy a special rate of 5.00%.1 
     
    The special rate applies only if the client transfers the funds to an FHSA by December 28, 2023; otherwise, the standard Daily Interest Account (DIA) rate will be applied to those funds.
     
    Here’s how to take advantage of this special rate:
     
    For New Clients:

    • Complete an application for a non-registered GIA. On the application select “Daily Interest Account” as the investment instructions and write the amount to be deposited (minimum $500, maximum $8,000).
    • In the Special Instructions section of the application, write “FHSA”.
    • The GIA application form (799) can be found here
     

    For Existing Clients - must have a GIA (Compound Interest Only) policy:
    • Submit a letter of direction or complete the Investment Direction form requesting to deposit funds to the DIA for the FHSA promotion (minimum $500, maximum $8,000)
    • Complete sections 1, 3, 4, 12 and 13 of the Investment Direction form, and in the Special Instructions area, write “FHSA”.
    • The Investment Direction form (693ANN) can be found here
     Although DIA is selected, the funds will be deposited to and displayed in EquiNet® and Equitable Client Access® as a special 1-year Guaranteed Deposit Account (GDA). Only new lump sum deposits are eligible for the special rate of 5.00%.1
     
    The GDA will be a non-registered account and any interest earned will be taxable.
     
    Once the Equitable Life FHSA is available:
    • Submit a Pivotal Select™ FHSA application, and request to transfer the funds from the GDA to the Pivotal Select policy.2 No Market Value Adjustment fees will be charged.
    • In the Special Instructions section, indicate the source of funds to be “FHSA promotion funds” and provide instructions on where to direct any excess funds in the GIA if applicable.
    • The funds will be transferred to the FHSA.3
    • Any excess funds over $8,000 will be returned to the client as a direct deposit, a cheque, or the client can keep the GIA open.
    Additional information about this promotion
    This is a great opportunity for clients to start saving for their first home today while earning an excellent rate. The advisor receives a reduced upfront commission4 for the pre-FHSA deposit to the GDA, in addition to the commission that will be earned by moving the funds to the Pivotal Select FHSA.
     
    This special savings rate promotion is available until the launch date of Equitable Life’s FHSA unless the promotion is ended on an earlier date at Equitable Life’s discretion. The maximum amount on which a client can receive the special savings rate is $8,000.
     
    Clients who do not transfer funds to the FHSA on or before December 28, 2023 will not receive the promotional rate. We will transfer the funds from the special GDA to the DIA account effective as of the date of deposit. As a result, the interest received by the client from the date of deposit to December 28, 2023 will be the DIA rate rather than the promotional rate.

    Questions? Please see our FAQ

    For more information, please contact your Regional Investment Sales Manager. Additional details about the FHSA can be found on the Government of Canada’s website.

     
    ® denotes a trademark of The Equitable Life Insurance Company of Canada.
     
    1 The pre-FHSA special saving rate of 5.00% per year compounds daily and takes effect from the date Equitable Life receives the deposit and will end on the date the FHSA Pivotal Select segregated fund product is launched later this year (December 28, 2023 at the latest). In the unlikely event Equitable Life’s Pivotal Select FHSA is unavailable in 2023, the funds subject to the promotion will earn the 5.00% rate for 1 year from the date of deposit through maturity in 2024.
     
    2 The FHSA promotion will only be available as a Pivotal Select Segregated Fund policy. Clients can open a FHSA only if they meet the eligibility criteria when they sign the application.
     
    3The funds in the Guaranteed Interest Account will be transferred to the FHSA in the form of a contribution of up to $8,000 on or after the date the client signs the FHSA application form. Clients must open a FHSA to receive the special bonus interest.
     
    4 Commission of 0.20% paid upfront for money received and deposited to the policy by September 29, 2023. 0.05% paid upfront for money received and deposited after September 29, 2023, and the earlier of the promotion termination or December 28, 2023.  Commissions are paid through an adjustment to our current 40bps commission on our one-year GDA by way of a chargeback reducing the commission to the rate stated in this note.

    Posted June 1, 2023
  8. [pdf] Payout Annuity Advisor Guide
  9. [pdf] Daily/Guaranteed Interest Account - Product at a Glance
  10. Homewood Health COVID-19 Resources

    As the COVID-19 situation continues to rapidly evolve, you may need  information from a trusted source to support your clients, their organizations and their employees.

    Through our partnership with Homewood Health, the Canadian leader in mental health and addiction services, all of our clients and their plan members have access  to a number of tools and resources designed to provide guidance and support.

    Online Cognitive Behavioural Therapy

    For plan members dealing with increased anxiety during these uncertain times, Homewood’s Online Cognitive Behavioural Therapy tool, i-Volve, can help. Through self-paced, web-based therapy, i-Volve can help plan members identify, challenge and overcome anxious thoughts, behaviours and emotions.

    All Equitable Life clients and their plan members have access to i-Volve. It’s available 24 hours a day, seven days a week, wherever you choose to access it.

    Learn more about Online CBT or access i-Volve at Homeweb.ca/Equitable.

    COVID-19 Support Resources

    Drawing on their expertise in mental health, as well as guidance from trusted sources including Health Canada, the Public Health Agency of Canada and the World Health Organization, Homewood has created a number of resources to help support your clients and their plan members.

    ​​If you have any questions, or wish to discuss the tools, please reach out directly to Homewood. They are here to help support you, your clients and their employees through these unprecedented times. Contact your Homewood Health Account Manager or Homewood’s Customer Experience Team by phone at 1.833.375.0270 or email customersupport@homewoodhealth.com