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  1. Have you heard about Equitable Client Access?
    Equitable Client Access® allows clients to self-serve on some of the more popular requests. Thousands of clients have already signed up for Equitable Client Access and are enjoying the benefits of accessing their secure information 24/7.

    •   Does your client need to change or stop existing Pre-Authorized payment (PAD)? Equitable Client Access can do that.
    •   Does your client need to change a withdrawal date for a PAD? Equitable Client Access can do that too.
    •   Address or banking information changes? Equitable Client Access has your clients covered.
    •   Does your client need to change her beneficiary from Aunt Flora to Uncle Ned? Equitable Client Access can even do that.

    Equitable Client Access is a secure online client site that connects clients with policy information, right at their fingertips. In addition to the self-serve features, Equitable Client Access can also provide:

    •    Insurance coverage and guarantees
    •    Investment allocation, performance and market values
    •    Transaction history
    •    Statements and letters
    •    Advisor contact information, along with so much more.


    If your clients have not signed up for Equitable Client Access, direct them to client.equitable.ca - it only takes a few minutes to set up an account, and connects your clients with their policy information online – anytime!

    Have a question about Equitable Client Access? Want to tell your client how to go paperless? Check out our updated FAQ or contact your Regional Investment Sales Manager today.
     
  2. Changes to Short Term Disability Benefit Calculations The Canada Employment Insurance Commission and Canada Revenue Agency have announced the 2022 changes to Maximum Insurable Earnings, and premiums for employment insurance. These changes take effect January 1, 2022.
     
      2021 Amount As of Jan. 1, 2022
    Maximum Insurable Earnings (MIE)
         		 $56,300 $60,300
    Maximum Weekly Insurable Earnings (MWIE)
         		 $1,083 $1,160
    EI Benefit
    (55% of the MWIE, rounded to the nearest dollar)    		 $595 $638
     
    How does this affect your clients?
     
    If your client’s Group Policy with Equitable Life includes a Short Term Disability (STD) benefit which is tied to the EI Maximum Weekly Insurable Earnings, and at least one classification of employees has less than a $638 maximum, then to comply with the provisions of their policy, their STD benefit will be revised with the maximums updated based on the percentage of EI Maximum Weekly Insurable Earnings shown in their policy.
     
    The additional premium for any increase from their previous STD amounts and new STD amounts will be show on their January 2021 Group Insurance Billing (as applicable).
     
    If their STD maximum is currently higher than $638 or based on a flat amount (not based on a percentage or regular earnings), no change will be made to their plan unless otherwise directed.
     
    If your clients wish to provide direction regarding revising their STD maximum, or have questions about the process, they can email Kari Gough, Manager, Group Quotes and Issue.
  3. Equitable Life Savings & Retirement Webinar Series featuring Equitable Asset Management Group
    In 2022, Equitable Life’s® S&R team will continue to spotlight various aspects of our competitive fund lineup and product offerings. Each webinar in the series features a new topic. This series gives advisors an opportunity to:
    • learn more about various products and product features,
    • hear from industry professionals,
    • learn about investment strategies; and so much more.
    This month, Equitable Life welcomes David Irwin, Director, Portfolio Management and Client Relations, Equitable Life of Canada. Please join us to hear David Irwin discuss the state of markets today, what key risks investors are focused on, and how the Equitable Life Active Segregated Fund lineup is positioned.

     

    Learn More

     



    Continuing Education Credits
    This webinar has been submitted for continuing education (CE) approval with the Insurance Council of Manitoba and Alberta Insurance Council for all provinces excluding Quebec. Upon approval, you will be sent an email notification to come back to the webinar presentation console to download your personalized certificate from the tool bar. To be eligible for CE credits, you must register individually, watch the webcast in full and complete a short quiz. This webcast is available in English only.
     
     
  4. Give clients guaranteed retirement income with Payout Annuities
    With increased market volatility and interest rates higher than we have seen for much of the past decade, now is a great time to consider payout annuities. Payout annuities can provide regular guaranteed income regardless of how markets perform. 
     
    Clients using only a Systematic Withdrawal Plan (SWP) for retirement income are potentially vulnerable during times of market volatility due to the sequence-of-returns risk.1 When markets are down, more units are redeemed to cover income needs. When markets later rise, clients are not able to participate fully in the recovery because more units were redeemed to provide income. That is why having a guaranteed income component, like a payout annuity, as part of an overall retirement strategy is so important.
     
     
    Three great reasons to consider Equitable Life® for your payout annuity business:

    1. Choose from a variety of payout annuity options including:
       
         A. Life Annuity – guaranteed income for one life
         B. Joint Life Annuity – guaranteed income for two lives
         C. Term Certain – guaranteed income for a specific period of time (5 to 30 years)
         D. Term Certain to Age 90 – guaranteed income until age 90

    2. Attractive rates, particularly in Registered and Term Certain Annuities

    3. Step Up Your Wealth Sales program - 25% of payout annuity net sales qualify for the 0.75% bonus commission earned on net deposits for 20222  

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    For more information, please contact your Equitable Life Regional Investment Sales Manager.
     
     
    1Sequence-of-returns risk, or sequence risk, is the risk that an investor will experience negative portfolio returns very late in their working life and/or early in retirement.
     2All eligible deposits, sales, and redemptions occurring between January 1 and December 31, 2022, will be used to calculate an advisor’s 2022 net deposits.
     ® denotes a registered trademark of The Equitable Life Insurance Company of Canada.
  5. Give clients guaranteed retirement income with Payout Annuities
    With increased market volatility and interest rates higher than we have seen for much of the past decade, now is a great time to consider payout annuities. Payout annuities can provide regular guaranteed income regardless of how markets perform. 
     
    Clients using only a Systematic Withdrawal Plan (SWP) for retirement income are potentially vulnerable during times of market volatility due to the sequence-of-returns risk.1 When markets are down, more units are redeemed to cover income needs. When markets later rise, clients are not able to participate fully in the recovery because more units were redeemed to provide income. That is why having a guaranteed income component, like a payout annuity, as part of an overall retirement strategy is so important.
     
     
    Two great reasons to consider Equitable Life® for your payout annuity business:

    1. Choose from a variety of payout annuity options including:
       
         A. Life Annuity – guaranteed income for one life
         B. Joint Life Annuity – guaranteed income for two lives
         C. Term Certain – guaranteed income for a specific period of time (5 to 30 years)
         D. Term Certain to Age 90 – guaranteed income until age 90

    2. Attractive rates, particularly in Registered and Term Certain Annuities

    button.png

    For more information, please contact your Equitable Life Regional Investment Sales Manager.
     
     
    1Sequence-of-returns risk, or sequence risk, is the risk that an investor will experience negative portfolio returns very late in their working life and/or early in retirement.
     ® denotes a registered trademark of The Equitable Life Insurance Company of Canada.
  6. 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.
     
  7. 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:

    QDIPC-2023-EN.PNG

    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



     
  8. Kickoff to 2023 with Equitable Life and Robert Gignac Equitable Life® is pleased to present Robert Gignac, author of the book ““Rich is a State of Mind”.  Robert will deliver his new “Stop Playing Chess in a PokerStars World” presentation. Robert’s engaging presentation offers examples of what clients (and prospects) are struggling with today and how advisors can take a leadership role by changing from a one-dimensional game (chess) to a multi-dimensional one (poker).
     
    Your hosts, Cam Crosbie, Vice President, Savings & Retirement and Joseph Trozzo, Investment Sales Vice President, MGA, will highlight some of the ways Equitable Life can help make 2023 a great year.
     
    Learn More
     

    Posted: December 23, 2022

     

    Continuing Education Credits
    This webinar has been submitted for continuing education (CE) approval with the Insurance Council of Manitoba and Alberta Insurance Council for all provinces excluding Quebec. Upon approval, you will be sent an email notification to come back to the webinar presentation console to download your personalized certificate from the tool bar. To be eligible for CE credits, you must register individually, watch the webcast in full and complete a short quiz. This webcast is available in English only.
     
    ® denote a registered trademark of The Equitable Life Insurance Company of Canada
     
  9. This year’s RSP contribution deadline is March 1, 2023


    The RSP deadline is fast approaching so whether you are using paper or EZtransact™ here are some important things to remember.

    Issuing New Policy with EZcomplete®

    • All online applications must be digitally signed and submitted and have a date stamp no later than March 1, 2023.


    Issuing New Policy using Paper Application

    • For contributions to qualify for the first 60 days, all paperwork must be completed and signed by March 1, 2023. Equitable Life must receive all paperwork by March 7, 2023.



    Deposits to Existing Policy

    • Advisors can setup a one-time or recurring deposit or edit an existing pre-authorized debit already in place using EZtransact. Online deposits must be made and have a date stamp by March 1, 2023, to qualify for a 2022 tax receipt. 

    • Clients can make online deposits to Equitable Life® through their financial institution’s online banking service. Online deposits must be made and have a date stamp by March 1, 2023, to qualify for a 2022 tax receipt. 

    • Clients can also make a new deposit to an existing policy by cheque. The cheque must be dated and signed by March 1, 2023. Equitable Life must receive the cheque no later than March 7, 2023.


    If online banking is being used to fund the policy – either topping up an existing policy or opening a new policy – the online banking transaction must be completed by March 1, 2023, to receive a 2022 tax receipt.


    Please note that cheques and other paperwork cannot be backdated.  They must be completed and signed by March 1, 2023, to qualify for a 2023 tax receipt.


    Don’t forget about the Equitable Life RSP Grow Your Future Contest. We hope you have a great RSP season! 

    ® denotes a trademark of The Equitable Life Insurance Company of Canada.

  10. Announcing our new Travel Assist provider We are pleased to announce that we are partnering with Trident Global Assistance as our new Travel Assist provider, effective June 1, 2023.
     
    Based in Etobicoke, Ontario, Trident provides travel assistance for thousands of Group Benefits plan members. Trident has an experienced leadership team with decades of combined industry expertise. They have both the operational know-how and global networks to provide your clients and their plan members with 24/7 support for their travel health assistance needs.
     
    No action is required from plan sponsors or plan members. For clients with Travel Assist included in their plan, the transition to Trident will be seamless. The phone numbers for Travel Assist will remain the same and there is no requirement to download a new benefits card.
     
    As we previously announced, Allianz Global Assistance, our current Travel Assist provider, is exiting the Canadian group travel administration market. Allianz will continue to accept and support claims and inquiries received before June 1, 2023. All claims and inquiries received June 1 or later will be supported by Trident.
     
    In the meantime, we are working closely with Allianz and Trident to help ensure a smooth and seamless transition for our clients and their plan members.
     
    If you have any questions about the transition to Trident as our new Travel Assist provider, please contact your Group Account Executive or myFlex Sales Manager.