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Application cloning option now available on EZcomplete
As of September 10th, you will now have the option to clone any Life Insurance and Critical Illness applications that is showing on the EZcomplete dashboard. “Cloning” means the information that has been completed in the existing application is duplicated in a new application.
This feature is meant for situations where multiple applications are being completed and at least one of the parties (the policy owner or insured person) is the same. For example, a single policy owner might own policies on the lives of each of their children. Cloning the application will save re-typing the information about the policy owner into each application.
Please note the following important details regarding cloning:
- Cloning the application will duplicate all information that has been completed in the existing application into the new application.
- In the family situation described above, the information about the policy owner should be completed in the original application. The application should then be cloned before entering any information about the insured person, as there will be a different insured person for the new application.
- Cloning applications can be convenient, but it carries risk. It is imperative that the advisor review every section of the new cloned application to ensure that the information is meant to apply to the new application. If an advisor incorrectly includes information about an individual in the new application, this could give risk to a privacy breach or to liability for the advisor if the questions are answered incorrectly for that individual.
- If the application was submitted and is no longer on the dashboard you will not have the option to clone it.
- You will not be able to change the product type on a cloned application so if you need to select a different product, you will need to start a new application.
- Any documents that were attached to the previous application will not be cloned. The documentation will need to be attached again if required.
- All information from an existing application will be duplicated to the cloned app up to the Signatures step (step 8). Signatures/advisor report will need to be obtained and completed again on the new cloned application.
Resources
Please contact your Regional Sales Manager for more information
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NEW Jump Around feature available on EZcomplete
One of the most requested features is available on EZcomplete® effective November 19, 2022. We like to call it “jump around”. It’s the ability to jump from one part of the application to another and back again. You no longer have to complete the application one section after another in order. This will allow a lot more flexibility when submitting a policy application.
This functionality is helpful as you can input basic client information ahead of a meeting to review with the client later. After completing the Owner’s step (step 1), you could jump to step five (Subsequent Payment) or step six (Third Party). This allows you the opportunity to easily jump back and add a second owner once you have all their details from the client. You can also return to your dashboard, and when you go back into the application, you will be returned to the owner’s section.
Hitting the Save button will save the information you have inputted already, so after jumping ahead to a different section, you can return to complete those questions knowing your progress will be saved. When you have completed all the necessary fields, hitting the Done button will validate all the information and the step will be complete. A check mark will appear beside each completed and validated step.
Please note, if you go back to a previously validated step and change information you will have to go through all subsequent steps and complete and validate them again by clicking next if nothing has changed or making any necessary changes.
To Equitable Life®, the term EZ really means something! Learn more about how doing business with Equitable Life continues to be easy.
Questions: Please contact your Regional Sales Manager
® denotes a trademark of The Equitable Life Insurance Company of Canada.
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December 2022 eNews
Update: EI Sickness Benefit Extension confirmed for Dec. 18, 2022*
The federal government confirmed on Nov. 25, 2022, that it is extending the Employment Insurance (EI) Sickness Benefits period permanently from 15 weeks to 26 weeks. The change takes effect on Dec. 18, 2022.
Equitable Life will not require or implement any changes to our disability plan designs based on this extension. However, plan sponsors may wish to amend their short-term disability (STD) and long-term disability (LTD) plans and policies to align with the new 26-week EI period.
If your clients choose to amend their plan design in response to this extension, we have created an overview of how amendments may affect common plan design scenarios. Click here to learn more.
If you have any questions, please contact your Group Account Executive or myFlex Sales Manager.
QDIPC updates terms and conditions for 2023*
Every year, the Quebec Drug Insurance Pooling Corporation (QDIPC) reviews the terms and conditions for the high-cost pooling system in the province.
Based on its latest review, QDIPC is revising its pooling levels and fees for 2023 to reflect trends in the volume of claims submitted to the pool, particularly catastrophic claims:
We will apply the new pooling levels and fees to future renewal calculations that involve Quebec plan members.
If you have any questions, please contact your Group Account Executive or myFlex Sales Manager.
*Indicates content that will be shared with your clients
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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.
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.
Why did we do this?
The tools below are being updated shortly to reflect the above change:
Updated resources coming soon!
• 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.
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Secure your GIA rate with Equitable today!
The Bank of Canada (BOC) recently cut its key interest rate for a second time this year to 4.5%. As inflation cools and the BOC hints at more interest rate cuts this year, the time has never been better to secure a Guaranteed Interest Account (GIA) rate.
Equitable’s fresh client-focused approach to guaranteed investing means:- market leading interest rates1, with even higher rates available for larger deposits,
- a full suite of available account types including the First Home Savings Account, and
- options to invest up to age 952.
GIAs are simple fixed-income investment products that can provide increased choice and value to a client’s portfolio. Choosing Equitable provides competitive interest rates and protection from market volatility. For more information visit EquiNet® and don’t forget to register for our interest rate change alert email.
1 Equitable has made every effort to ensure accuracy of competitive information as of July 22, 2024. Accuracy is not guaranteed.
2 Some available term lengths may be limited starting at age 90.
® or ™ denotes a trademark of The Equitable Life Insurance Company of Canada.
Posted August 15 -
Flexibility for a client’s ever-changing life
Term life insurance offers full and partial conversion options to meet changing needs
Life is always changing—whether a client is buying their first home, welcoming a new baby, or sending the kids off to college. While most clients think of term life insurance as a solution to meet a temporary need, they don’t necessarily consider the power of term conversion options to meet their future needs.
Full and partial conversion options can help meet a client’s needs as their life journey and insurance needs change, without having to provide proof of continued good health.
Full conversion:
• With full conversion, clients can convert all of their term coverage from their policy or rider to permanent life insurance. This allows the client to lock in a level premium rate for life.
Partial conversion:
• With a partial conversion, clients can convert a portion of their term coverage from their policy or rider to a permanent plan. This allows them to help cover off both a short-term need and also provides lifetime protection.
Did you know?
Our partial conversion with a term rider carryover is now more flexible than ever. Read more about it here!
For more information, please consult the Equitable Term Life insurance admin guide. - [pdf] MGA Information in EZcomplete
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Secure your GIA with Equitable today!
In uncertain times, a Guaranteed Interest Account (GIA) is a safe and stable investment opportunity. Now is a great time to consider a GIA with Equitable®.
Equitable offers:
• market leading interest rates1, with higher rates for larger deposits;
• many account types, including the First Home Savings Account; and
• options to invest up to age 952.
“GIAs offer a number of benefits for investors, especially in times of market volatility.” said Cam Crosbie, Executive Vice President, Savings & Retirement. Equitable. “In uncertain times, let your investments be certain. Choose GIAs for guaranteed peace of mind and predictable returns, along with estate planning benefits, and potential creditor protection.”
GIAs are simple fixed-income investments that add value to a portfolio. Equitable GIAs provide competitive interest rates and protection from market volatility. For more information visit EquiNet® and don’t forget to register for our interest rate change alert email.
For more information or assistance, please contact your Director, Investment Sales.
1 Equitable has made every effort to ensure accuracy of competitive information. Accuracy is not guaranteed.
2 Some available term lengths may be limited starting at age 90.
Date posted: May 14, 2025 - About
- [pdf] Edelivery policy change FAQ