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IMPORTANT NOTICE: FUNDS WITH DEFERRED SALES CHARGE OPTIONS
The Canadian Council of Insurance Regulators require all insurance companies to discontinue the sale of segregated funds with Deferred Sales Charge (DSC) effective June 1, 2023*.

PIVOTAL SELECT™ SEGREGATED FUND PRODUCTS

On May 29, 2023, funds with a DSC or Low Load (LL) sales charge option will be allocated to the No Load (NL) sales charge option of the funds available within the policy.
- Any existing amounts held in DSC or LL funds will retain the existing DSC schedule, outlined in the client’s contract. The annual 10% available (20% for RIF policies) for withdrawal without fees continues to apply through to the expiry of the fee schedule.
- If the default deposit instructions and/or pre-authorized scheduled deposits the client previously provided include funds with DSC or LL, these instructions will automatically update to NL of the same fund for all future deposits.
In alignment with Equitable's current administrative rules, if the client has DSC or LL funds, the client will not be able to deposit No Load Chargeback funds (NL-CB and NL-CB5) within the same policy.

For more information, please click here.

LEGACY SEGREGATED FUND PRODUCTS

Ongoing deposits to DSC funds continue when a segregated fund product does not have an alternative sales charge option available within the contract. This applies to the following products:
- Personal Investment Portfolio
- Pivotal Solutions II
- Pivotal Solutions DSC
Clients may continue to make new deposits to the DSC funds within the policy. Any new segregated fund deposits, as well as any existing segregated fund amounts within the policy, will retain the DSC schedule outlined in the contract.

For more information, please click here.

Equitable's Advisor Services Team is available Monday to Friday, 8:30 a.m. – 7:30 p.m. ET at 1.866.884.7427 or by email at savingsretirement@equitable.ca. You can also contact your Regional Investment Sales Manager.

*Draft regulation in Quebec is currently under review which may affect Equitable Life’s approach for clients in the Province of Quebec with legacy segregated fund products. We will continue to monitor provincial regulatory developments.

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

Date posted: May 4, 2023
2023 Holiday Hours The Holiday season brings thoughts of gratitude, and there is no better time to express our thanks and sincere appreciation for your dedication and commitment to Equitable Life.

Thank you for your support this past year and for trusting Equitable Life with your Individual Insurance and Savings & Retirement business. Happy Holidays!

Client Care Centre Holiday Hours
Friday December 22, 2023 - 8:30 a.m. – 7:30 p.m. ET
Monday December 25, 2023 – CLOSED
Tuesday December 26, 2023 – CLOSED
December 27, 28 and 29, 2023 - 8:30 a.m. – 7:30 p.m. ET
Monday January 1, 2024 - CLOSED

Savings & Retirement
To settle on December 22, 2023, the transaction must be received that day by 11:00 a.m. ET
To settle on December 29, 2023, the transaction must be received that day by 11:00 a.m. ET

Individual Insurance
Underwriting
● Underwriting must receive all evidence and outstanding Underwriting requirements by December 15th- at the latest. Underwriting will then be able to decision these cases by December 21st. This will give the New Business team December 21st – December 29th to issue and settle policies.

New Business
● New Business will continue to process all issue and settle requirements every business day until the last working day of the year – December 29th. New Business needs to receive ALL final settle documents in Good Order within our posted service standards. We are currently operating at a 3 business day turn around time.

Field Payroll
● Second Last Pay Period for 2023 – December13, 2023 to December 19, 2023 (Transmission/Statement date December 20, 2023)
● Last Pay Period of 2023 – December 20, 2023 to December 29, 2023 (Transmission/Statement date January 2,2024)
● First Pay of 2024 – January 1, 2024 to January 9, 2024 (Transmission/Statement date on January 10,2024)

Daily Pay will run on business days.

Please note that all requirements must be received in Head Office by the above dates to guarantee settlement for year end.
[pdf] Equation Generation IV at a Glance
[pdf] A head start, for tomorrow
100 years strong
As COVID-19 continues, we want to reassure you that Equitable Life remains financially strong and committed to supporting our clients.

We are financially strong and stable
Our commitment to your health, wealth and overall well-being remains unchanged. This global pandemic has impacted the way we do business, but we continue to focus on our strategic goals while meeting the needs of Canadians. These three factors speak to our financial strength and stability:

• Equitable Life has a global credit rating of ‘A’ with a positive trend from DBRS Morningstar in recognition of our ability to adapt to the current business environment and prudent risk profile;
• We are maintaining our current dividend scale for the period July 1, 2020 to June 30, 2021; and
• Our Life Insurance Capital Adequacy Test (LICAT) ratio remains well above our goal and the minimum that is required at 152.5% at the close of the first quarter.We pride ourselves on our customer service

Being recognized for its service culture across all lines of business is a point of pride for a company that includes ‘customer focus’ as one of its three corporate values. In 2019, our dedication to customer service was recognized with these outstanding survey results, proving we have the We have the knowledge, experience and ability to find solutions that work for you:
- Equitable Life ranked in the top quartile for segregated fund service in 2019 survey of advisors and MGAs¹;
- In a 2019 survey of customers from 15 life insurance companies,² Equitable Life ranked #1 on the Net Promoter Score, a measure used across industries to gauge the loyalty of a firm's customer relationships; and
- A survey of Group consultants, brokers and third-party administrators³ ranked Equitable Life in the top two insurers across all categories.
We have adjusted our business to become digital
Since the pandemic began, our IT and operations teams have digitally enhanced more than 20 different processes and services to make it easier for us to integrate with our distribution partners in this new reality. Our sales and customer service teams remain open and available to support you and your customers.

We are here with you and for you
- To commemorate our 100^th Anniversary this year, we donated $4.5 million to purchase and install a new MRI for Grand River Hospital and, as part of our Equitable Gives Back Contest, we donated $50,000 – $10,000 each – to five charities in British Columbia, Alberta, Manitoba, Ontario and Quebec. As well, we are celebrating by randomly selecting policyholders to receive a $100 and three grand prizes. For more information about our celebrations, check out our website at www.equitable100.ca.
  
  As the global situation continues to evolve, rest assured that Equitable Life is unwavering in our commitments to you and the communities we serve. We are here with you and for you.
¹ Life Ops Consulting Group Distribution Service Satisfaction Surveys 2015-2019, Independent Advisors
²LIMRA CxP Customer Experience Benchmarking Program, Life Insurance In-Force Experience 2019
³NMG Consulting’s Canadian Group Benefits Survey 2019

Enhanced flexibility and features make Equimax whole life a great choice for your clients

WHAT’S NEW ON MARCH 23, 2020?

The following features are available on Equimax Estate Builder^® and Equimax Wealth Accumulator^® plans!

60 months of EDO payment flexibility¹ that fits your clients’ situation

Clients can start EDO payments¹ up to 60 months from the date the application was signed, or resume up to 60 months from the last EDO payment made, without additional evidence of insurability.
Applies to Equimax²policies with an effective date of March 23, 2020 or later.

EDO is available on cases rated 300% or less³ for new and existing clients

For existing clients, if approved, the EDO contract provisions that apply will be based on the effective date of the insurance policy, not the date the EDO was added.
Applies to Equimax² policies issued under the 2017 tax rules.

Built-in Disability Benefit Disbursement provides access to cash value in the event of a disability

The Disability Benefit Disbursement may provide a tax-free, lump sum payment of up to 100% of the policy’s cash value if the insured becomes disabled.⁴
Will be included on Equimax² policies issued under the 2017 tax rules.⁵

Want more information?

More information is available on EquiNet^® on the Whole Life Insurance Product page under the Resources tab.

Ask your Equitable Life^® Regional Sales Manager about Equimax today.

COVID-19 & social distancing: Strategy for insurance applications

Using our EZcomplete^® online application allows you to keep your distance … while keeping your business moving forward.

Learn more

¹ This applies only to policies with an effective date of March 23, 2020 or later. The amount of the EDO payment allowed may be limited to the maximum EDO payment made in previous years depending on the policy year. For approved EDO amounts exceeding $150,000 annually ($12,500 monthly), clients have up to 12 months from the date the EDO application was signed or the date of the last EDO payment to make an EDO payment before a contribution cap may apply. See Admin Guide for full details. ² Applies to Equimax Estate Builder and Wealth Accumulator; all ages; life pay and 20 pay; single and joint lives. ³ Not available if the policy has a flat extra rating. ⁴See sample policy contract for full details, including the qualifications for the disbursement. Policy cash value and death benefit will decrease. Tax laws are subject to change. The payment of the disability benefit disbursement may affect the adjusted cost basis (ACB) of the policy as it is considered payment of a capital benefit. Changes in ACB can affect the future taxation of the policy. ⁵Subject to our administrative rules and guidelines in effect at the time of the disbursement

Changes to the Compensation Inquiry section on EquiNet The Compensation Inquiry Section from EquiNet is only available on Microsoft Edge. Please follow the instructions below:

1. Open Microsoft Edge, click on the three dots in the top right corner and select ‘Settings’.

2. In the Settings menu, locate ‘Default browser’ and click on ‘Add’ in Internet Explorer mode pages.

3. Enter the URL https://advisor.equitable.ca/advisor/compensationinquiry and click on ‘Add’.

4. Login into EquiNet using Microsoft Edge and you will be able to access ‘Compensation Inquiry’.

This configuration expires in 30 days, if you want to continue accessing ‘Compensation Inquiry’ after 30 days, you will need to redo the steps above.

If you encounter problems configuring, call our support line at 1.800.722.6615 ext. 8888
Expanding Online Annuity Quotation Eligibility Equitable Life® is pleased to announce the following three enhancements to our Online Annuity Quotation eligibility, effective November 1, 2022:

● Single Premium Quotes increased to $2million
● Increased Allowed Annual Amount for Income Annuities
● Alberta Locked-In Funds Available from Age 50 reduced from age 55

Increasing income limits for our Online Annuity Quotation provides advisors with more flexibility to serve the various needs of clients. To learn more, visit Equitable’s Online Annuity Quotation

For more information contact your Regional Investment Sales Manager or our Advisor Services team Monday to Friday from 8:30 a.m. – 7:30 p.m. ET at 1.866.884.7427.

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

November 24, 2022
Meghan Vallis named head of distribution for myFlex Benefits and other group benefits updates
Meghan Vallis named head of distribution for myFlex Benefits
We are pleased to announce that Meghan Vallis, our Group Sales Vice President for Western Canada, will head national distribution for myFlex Benefits in addition to her existing responsibilities.

As part of her expanded role, Meghan will lead the myFlex Benefits sales team and develop and implement strategies to achieve the growth of this offering. Meghan and the myFlex team will continue to focus on delivering market leading services for our clients and advisors.

Meghan joined Equitable Life in 2020 and brings more than 15 years of experience in the group benefits industry to her expanded role. She is passionate about helping Advisors succeed to transform their clients' employee benefit experience.

myFlex Benefits is one of the most unique and versatile benefits solutions for small businesses in Canada. It is fully pooled, includes a two-year renewal and features a user-friendly portal for plan members to make their benefit selections. And it’s simple to use: Plan sponsors set a budget and choose from a selection of benefit options. Plan members then use flex dollars to select from the options offered by their employer. Any leftover flex dollars are saved in a health care spending account (HCSA).

If you have any questions or are interested in learning more about myFlex Benefits, please contact your Group Account Executive or myFlex Sales Manager.
Changes to Short Term Disability (STD) benefit calculations for 2023*
The Canada Employment Insurance Commission and Canada Revenue Agency have announced the 2023 changes to Maximum Insurable Earnings and premiums for employment insurance.

The following changes to Employment Insurance (EI) will come into effect on Jan. 1, 2023:

How does this affect your clients?
Your clients’ STD benefit will be revised with the updated maximums based on the percentage of EI Maximum Weekly Insurable Earnings shown in their policy if:
- Their Equitable Life Group Policy includes an STD benefit that is tied to the EI Maximum Weekly Insurable Earnings, and
- At least one classification of employees has a maximum of less than $650.
The additional premium for any increase from their previous STD amounts and new STD amounts will appear on their January 2023 Group Insurance Billing (as applicable).

If their STD maximum is currently higher than $650 or based on a flat amount instead of 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 if they have questions about the process, they can email Kari Gough, Manager, Group Issue and Special Projects.
Coming soon: Survey for Plan Administrators with recent disability claims*
We’ve enhanced our communication processes to help your clients with disability plans manage their workplace absences more effectively. In early December, we will distribute a short survey to plan administrators who may have submitted an approved disability claim in the past six months. The survey will ask recipients about their satisfaction with the frequency and detail of our disability management communications.

The email will come from GBClientFeedback@equitable.ca, and the survey will remain open until the end of the day on December 16, 2022. All responses will be confidential. We plan to use the feedback to help ensure that we’re meeting your clients’ expectations and delivering industry-leading service.

We may also follow up with survey respondents directly, to address any concerns they’ve identified.

* Indicates content that will be shared with your clients.
Important notice: Funds with Deferred Sales Charges The Canadian Council of Insurance Regulators (CCIR) is requiring all insurance companies to discontinue the sale of segregated funds with deferred sales charges (DSC) effective June 1, 2023. This also impacts ongoing or new deposits to some existing segregated fund accounts. Please contact any Equitable Life clients who may be impacted.

How this impacts clients:
In response to the insurance regulator’s recommendation, Equitable Life^® will be making changes to the administration of certain segregated fund products, which may impact clients. The details are outlined below:

Pivotal Select™ segregated fund product
On or about May 29, 2023:
- Funds with DSC or Low Load (LL) sales charge options will be closed to additional deposits. Future deposits must be allocated to the No Load (NL) sales charge option of the funds available within the policy.
- Any existing amounts held in DSC or LL funds are not impacted and will retain the existing deferred sales charge schedule outlined in a client’s contract. The annual 10% available (20% for RIF policies) for withdrawal without fees continues to apply through to the expiry of the fee schedule.
- If the default deposit instructions that a client previously provided include funds with DSC or LL sales charge options, these instructions will be automatically updated to the NL sales charge option of the same fund for all future deposits.
- If a client has pre-authorized scheduled deposits into funds with the DSC or LL sales charge options, these instructions will be automatically updated to the NL sales charge option of the same funds for all future deposits.
- In alignment with our current administrative rules, if a client has DSC or LL funds, they will not be able to make deposits into No Load Chargeback funds (NLCB and NLCB5) within the same policy.
Legacy segregated fund products
Ongoing deposits to DSC funds are permitted when a segregated fund product does not have an alternative sales charge option available within the contract. This applies to the following products:
- Personal Investment Portfolio
- Pivotal Solutions II
- Pivotal Solutions DSC
As a result, clients who own these types of products may continue to make new deposits to the DSC funds within their policy. Any new segregated fund deposits, as well as any existing segregated fund amounts within their policy will retain the deferred sales charge schedule outlined in their contract.

If a client plans on making additional deposits, they may be interested in alternative sales charge options that do not include DSC. For example, Equitable Life offers “No Load” (NL) and “No Load Chargeback” (NLCB and NLCB5) sales charge options within the Pivotal Select segregated fund contract. In these situations, a new application would need to be completed and submitted.

Please note that draft regulation in Quebec is currently under review which may impact Equitable Life’s approach for Quebec clients with legacy segregated fund products.

Equitable Life will continue to monitor provincial regulatory developments and adjust our approach as needed.

Client communication
We will be sending clients a letter within their December 31, 2022, statement describing their options, and the impacts to their policy (if applicable). We recommend that you contact clients to discuss the contents of Equitable Life’s letter and provide any advice that they may need regarding ongoing deposits to their segregated funds. You can access a copy of the client letter here:
- Pivotal Select letter
- Legacy letter
If you have any questions, please reach out to our Advisor Services Team at 1.866.884.7427.

December 23, 2022

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