Site Search

406 results for benefits of seg fund

Surrender charges
[pdf] Segregated Fund Annual Report - December 31, 2024
[pdf] Segregated Fund Semi-annual Report - June 30, 2025
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 21^st 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.

Advisor Compensation after the DSC/LL ban May 29, 2023 As of May 29, 2023, Pivotal Select segregated fund contracts will not allow new deposits to the Deferred Sales Charge (DSC) and Low Load (LL) sales charge options. This is in response to the ban on deferred sales charges by the Financial Services Regulatory Authority (FSRA). The following sales charge options will continue to be available:

No Load (NL)
No Load – 3 year chargeback (NL-CB)
No Load – 5 year chargeback (NL-CB5)

Advisors may be wondering how compensation compares under various sales charge options.

Here is an example of advisor compensation for a $100,000 segregated fund contract in the Equitable Life Active Balanced Portfolio Select.*

Year	No Load	DSC	Low Load	No Load CB	No Load CB5
1	$1,008	$5,544	$3,024	$3,500	$5,600
2	$1,008	$504	$504	$504	$504
3	$1,008	$504	$504	$504	$504
4	$1,008	$504	$1,008	$504	$504
5	$1,008	$504	$1,008	$1,008	$504
6	$1,008	$504	$1,008	$1,008	$504
7	$1,008	$504	$1,008	$1,008	$504
8	$1,008	$504	$1,008	$1,008	$504
Contract Value	Total Compensation Paid
$100,000	$8,064	$9,072	$9,072	$9,044	$9,128

*For illustration purposes, this assumes a 0% return over the period shown.

Over an 8-year period, total advisor compensation with the CB5 sales charge option is $9,128 versus $9,072 and $8,064 with DSC and NL respectively.

Below is the chargeback schedule for NL-CB and NL-CB5:

Month (age of units)	Commission Chargeback Schedule NL-CB	Commission Chargeback Schedule NL-CB5
1 - 12	100%	100%
13 - 24	97.2% - 66.4%	98.3% - 82.0%
25 – 36	63.6% - 32.8%	80.5% - 64.0%
37 – 48	0%	62.5% - 46.0%
49 – 60	0%	44.5% - 28%
61+	0%	0%

For more information, please contact your Regional Investment Sales Manager.

™ or ® denote registered trademarks of The Equitable Life Insurance Company of Canada.

Date posted: June 15, 2023

[pdf] myFlex - How it works, what to consider
[pdf] B2B RSP Loan Product Brochure
[pdf] Online Plan Member Enrolment
[pdf] We’re serious about saving you money

Responding to Alberta's Biosimilar Initiative

Beginning March 15, 2021, we are changing coverage for some biologic drugs in Alberta in response to the province’s Biosimilar Initiative. These changes will help protect your clients from additional drug costs that may result from this new government policy while still providing access to equally safe and effective biosimilars.

What is Alberta’s Biosimilar Initiative?

Alberta’s Biosimilar Initiative will end provincial coverage of several originator biologic drugs for some or all conditions beginning on Jan. 15, 2021. Patients 18 and over who are using these drugs for the affected conditions will be required to switch to biosimilar versions of the drugs to maintain coverage under the province’s government drug plan.

What is the impact on private drug plans?

Industry response to Alberta’s Biosimilar Initiative has the potential to significantly impact your clients’ drug plan costs. If other insurance carriers follow suit with the province and delist the originator biologics, it could expose a plan that doesn’t delist them to significant coordination of benefits risk. (See Case Study below.)

How is Equitable Life responding?

To protect your clients’ plans from paying additional and avoidable drug costs, we are changing coverage in Alberta for most biologic drugs included in the provincial initiative.

As of March 15, 2021, several originator biologic drugs will no longer be covered for plan members of all ages in Alberta. Plan members taking these biologics will be required to switch to the biosimilar versions of these drugs to maintain eligibility under their Equitable Life plan.

What drugs and conditions are affected?

The following table outlines the drugs and conditions that will be affected by this change. The list of affected drugs or conditions is dynamic and will change as Alberta includes more biologic drugs in its Biosimilar Initiative, as new biosimilars come onto the market, and as we make changes in drug eligibility.

Drug name	Originator biologic These drugs will no longer be covered in Alberta for the conditions listed in this table.	Biosimilar Plan members will need to switch to these medications to maintain coverage under their Equitable Life plan.	Affected health conditions The changes in coverage apply to these conditions.
Etanercept	Enbrel	Brenzys Erelzi	Ankylosing Spondylitis Rheumatoid Arthritis Polyarticular juvenile idiopathic arthritis (JIA) Psoriatic Arthritis Plaque Psoriasis (adults and children)
Infliximab	Remicade	Inflectra Renflexis Avsola	Ankylosing Spondylitis Plaque Psoriasis Psoriatic Arthritis Rheumatoid Arthritis Crohn's Disease (adults and children) Ulcerative Colitis (adults and children)
Insulin glargine	Lantus	Basaglar	Diabetes (Type 1 and 2)
Filgrastim	Neupogen	Grastofil Nivestym	Neutropenia
Pegfilgrastim	Neulasta	Lapelga Fulphila Ziextenzo	Neutropenia
Glatiramer*	Copaxone	Glatect TEVA-Glatiramer Acetate	Multiple Sclerosis

*Glatiramer is a non-biologic complex drug.

How will Equitable Life communicate this change to plan members?

We will be communicating with affected claimants in January 2021 to allow them ample time to change their prescriptions and avoid any interruptions in their treatment or their coverage.

Can my client maintain coverage of these biologic drugs?

Traditional groups who wish to opt out of this change and maintain coverage of these originator biologics for Alberta plan members can submit a policy amendment. Amendments must be submitted no later than January 15, 2021. Advisors with myFlex Benefits clients who wish to maintain coverage of these originator biologics for Alberta plan members should speak to their myFlex Sales Manager to confirm their eligibility to opt out of this change.

Will this change impact my clients’ rates?

The rate impact of this change in coverage will be relatively insignificant. Any cost savings associated with the change will be factored in at renewal.

If plan sponsors opt out of these changes and maintain coverage for the originator biologics, it may result in a rate increase. Any rate adjustment will be applied at renewal.

What is the difference between biologics and biosimilars?

Biologics are drugs that are engineered using living organisms like yeast and bacteria. The first version of a biologic developed is also known as the “originator” biologic. Biosimilars are also biologics. They are highly similar to the originator drug they are based on and have been shown to have no clinically meaningful differences in safety or efficacy.

Questions?

If you have any questions about this change, please contact your Group Account Executive or myFlex Sales Manager.

CASE STUDY: The Alberta Biosimilar Initiative and Coordination of Benefits (CoB) risk

CoB risk is real and can be significant, even if a pharmaceutical savings program exists.

The industry response to Alberta’s Biosimilar Initiative has the potential to significantly impact your clients’ drug plan costs. Some insurers may follow the province’s lead and delist these originator biologics. Others may cut back coverage to the cost of the biosimilars or maintain coverage of the originators. These differences could expose a plan that doesn’t delist the originator biologics to significant coordination of benefits risk. Here’s how:

Let’s assume there are two private drug plans – Plan A and Plan B. Both plans are open plans with no deductible. Plan A has 80% co-insurance and Plan B has 100% co-insurance.

BEFORE Alberta’s Biosimilar Initiative

Before Alberta’s Biosimilar Initiative, both plans cover the originator biologics listed above.

Plan A is the first private payer for an Alberta plan member taking an originator biologic drug for Rheumatoid Arthritis. Plan B is the second private payer. The cost of the originator biologic for the plan member is $30,000 annually. Here’s how the coordination of benefits would look before Alberta’s Biosimilar Initiative.

AFTER Alberta’s Biosimilar Initiative

In response to Alberta’s Biosimilar Initiative, the insurer for Plan A delists the originator biologic and requires plan members to switch to the biosimilar. The insurer for Plan B maintains coverage of the originator biologic. Under this scenario, if the plan member doesn’t switch, Plan B essentially becomes the first payer and sees their annual cost increase by 400% (from $6,000 to $30,000).

Even if the insurer for Plan B cuts back coverage to the cost of the biosimilar or adjusts the paid amount because they have a savings program in place with the drug manufacturer, the impact could be significant. For example, if the insurer cuts back coverage to 50% (or $15,000 annually), Plan B would see a 150% annual cost increase (from $6,000 to $15,000):