422 results for beneficiary change form

1. 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.
    
2. 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:
   • 1616 Application for Term Conversion
   • 1616 Term Conversion Guide
   • 1616 Worksheet
3. 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. 
    
4. 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
5. Product updates - See our latest!
   Good news!  The updates to Equitable’s individual insurance solutions, scheduled for October 5^th, 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:
     
   *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.
6. Preferred life insurance solutions - corporations
7. 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.  
8. 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.

   
    
9. Conversions
10. Claims payments and notifications will go fully digital on July 1, 2023 We are committed to providing a better benefits experience. We have secure and convenient digital options to make it easier for plan members to access and use their benefits plan, including EquitableHealth.ca and the EZClaim Mobile app.
    
    Most plan members are already using these tools to set up email claim notifications and direct deposit. They get their claim updates faster and their claims paid more quickly, right into their bank account.
    
    To help ensure that all plan members benefit from faster claim payments and notifications, we are making these services fully digital as of July 1, 2023. That means, in most cases, we will no longer mail paper claim cheques or explanation of benefits (EOB) notifications.**
    
    Plan members who haven’t already activated direct deposit and email notifications will need to activate these services via their plan member account on EquitableHealth.ca. 

    How we’ll help plan members get set up

    Fortunately, it’s simple for plan members to set up these features. And it only takes a few minutes. To make it even easier, we’ve created a Plan Member Guide to Getting Started Online. It includes simple instructions to help plan members use our digital features and get the most from their benefits plan. 
    
    We have also created a toolkit that plan administrators can email to their plan members to walk them through the simple steps. Access the toolkit here.
    
    And we’re available to guide plan members who may need help. They can call us at 1.800.265.4556 and select “Plan Member Web Support”. Our Client Care Centre Team is happy to help them activate these services. 

    How we’ll communicate with plan members

    We will start communicating this change to plan members in April. For plan members who aren’t taking advantage of these convenient features, we will send them an email to let them know about the change, with instructions and support on getting set up.
    
    We will also include an insert with all mailings of paper cheques and EOB notifications sent out. And we will post an announcement and banner on EquitableHealth.ca to let plan members know about the change.
     

    How we’ll support plan members who need extra help or accommodations

    After July 1, 2023, we will follow up with plan members who have not yet activated direct deposit or email notifications for their claims and provide any extra help and support they may need. And, of course, we’ll make exceptions for plan members who aren’t willing or reasonably able to use these features. 

    Questions?

    If you have any questions, please contact your Group Account Executive or myFlex Sales Manager.
    
    ** Disability claimants will continue to receive paper Explanation of Benefits notifications in the mail. Some pay-direct drug claims will also continue to be paid by cheque.