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Exciting update: External transfer now available on EZtransact!
We are thrilled to announce a new feature that will make your work easier and more efficient.
What’s new this quarter?
The External Transfer function was introduced to Equitable’s EZtransact® on May 14.
Benefits of this enhancement:
This feature is part of our strategic plan to help make transactions smoother for you. It was already available in EZcomplete®, and now it’s on EZtransact too. This means you won’t have to search for information about the relinquishing institution anymore. You can submit requests with ease.
External Transfer Functionality:If you have any questions, reach out to your Director, Investment Sales.
• You can digitally request a transfer of funds from other institutions to Equitable.
• Information about the relinquishing institution will be available on EZtransact, so you don’t have to search for it.
• Both full and partial transfer requests are available.
• It’s available for registration types that don’t need the RC720/RC721 form and for individual accounts.
When we work together, success is mutual.
Date posted: July 3, 2025 -
Crunch the numbers with Equitable Life of Canada
Whether helping your client determine net worth or reviewing to see if your client’s retirement plan is on track, Equitable Life® is here to help with our online calculators. These number crunching tools can help you answer some of those challenging questions you get asked by your clients. From an RSP loan calculator to home budgeting to even figuring out if your client will be a future millionaire, check out our latest tools.
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Elijah welcomed a new baby to his family and needs to reduce the amount of money he is saving for retirement. Is he still going to be able to retire at age 60 like he planned, or will he need to extend his working years until age 65?
Did you know?
Investment returns, unexpected expenses and inflation can all affect your retirement savings. Check out Equitable Life’s How Long How Long Will My Retirement Savings Last Calculator.Share calculators using your Facebook, Twitter or LinkedIn account.
® denotes a registered trademark of The Equitable Life Insurance Company of Canada.
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Equitable Life Group Benefits Bulletin – October 2020
In this issue:
- Group benefits enrolment just got a lot easier*
- Critical Illness added to myFlex Benefits® selection tool**
- ASO dental available down to 3 lives
- QDIPC updates terms and conditions for 2021*
*Indicates content that will be shared with your clients
**Indicates content that will be shared with myFlex Benefits groups onlyGroup benefits enrolment just got a lot easier*
Our Online Plan Member Enrolment tool now makes it simple to add new employees to the benefits plan.
Enrolling new plan members can be overwhelming – for both you, your clients and their employees. It’s challenging to ensure plan members complete the necessary paperwork before the enrolment deadline, and time consuming to manually load new members.
That’s why we’re updating our plan member enrolment experience. Beginning November 2nd, 2020, all Equitable Life groups will be able to easily enrol new employees in the benefits plan with our Online Plan Member Enrolment Tool.
Benefits of Online Plan Member Enrolment
Our Online Plan Member Enrolment tool offers a more secure and efficient option to traditional paper enrolment. Employees are able to enrol in their benefits plan in just minutes from their computer or mobile device.
The user-friendly interface was built with the plan member in mind. They can easily enter all their enrolment information, including dependent details, banking information for direct deposit of claim payments and details for coordination of benefits. They can even designate their beneficiary electronically.
The online enrolment tool also lessens the effort for plan administrators to onboard new hires. The tool reduces errors and rework that can occur due to spelling mistakes or missing information on paper forms. And the days of chasing plan members for their paper enrolment forms are gone. Once they enter a few employee details, our system will automatically send out an email to each plan member, inviting them to enrol in their benefits program. And there will be no need to send reminders or follow up with employees about their benefits enrolment. It’s all done automatically.
Online plan member enrolment is available to all traditional and myFlex Benefits plan administrators with update access beginning November 2nd, 2020. Plan administrators just choose “New” from the “Certificate” view in EquitableHealth.ca to get started.
This enhancement is for plan administrators who have update access on EquitableHealth.ca. If your clients are not sure if they have update access, they can contact their Equitable Life Client Relationship Specialist or myFlex Benefits Team for support.
Learn More
We’ve created Online Plan Member Enrolment User Guides to support your clients and their plan members with this new tool:
- Online Plan Member Enrolment 1-page flyer
- Plan Member Online Plan Member Enrolment Quick Reference Guide
- myFlex Plan Member Online Plan Member Enrolment Quick Reference Guide
We’re also offering a series of webinars to help your clients learn about Online Plan Member Enrolment. Plan administrators will receive an invitation with links to register for the time that best suits their schedule.
Help your clients spend less time administering group benefits. Contact your Group Account Executive or myFlex Sales Manager to learn more about our enhanced online plan member enrolment.
Critical Illness added to myFlex Benefits selection tool*
For many employers, mandatory Critical Illness (CI) coverage is an important part of their group benefits package. It provides proactive protection against life-altering illness, helping give plan members and their families a sense of security.
While CI is available on myFlex Benefits plans, it was not built into our benefits selection tool since there is no action required by the plan member.
Beginning November 2nd, 2020, we are adding a CI page to the myFlex Benefits selection tool that appears when this coverage is included as part of the plan. There are no options to choose – plan members simply review their CI coverage and carry on with the benefits selection process. It keeps the process smooth, while ensuring plan members fully appreciate their employer’s contributions.
Adding CI to the benefits selection tool also simplifies the budgeting process for employers. Now that CI is included in the selection tool, employers no longer need to break out the amount billed for CI from their contribution per employee when loading flex allocations.
To learn more about our myFlex Benefits selection tool or Critical Illness coverage for myFlex Benefits, contact your myFlex Sales Manager.
ASO dental available down to 3 lives
Beginning November 2nd, 2020, groups with as few as three full-time employees will be able to self-insure their Equitable Life dental benefits with an Administrative Services Only (ASO) funding arrangement.
Currently, dental benefits are only available on an ASO basis for groups with 20 lives or more.
In an ASO arrangement, Equitable Life administers the benefits plan but does not insure it. The plan sponsor pays for all eligible claims, as well as the expenses of administering the plan.
Why ASO?
Choosing an ASO funding arrangement allows plan sponsors to save on premiums. With a traditional insured funding arrangement, a portion of every premium dollar includes a charge for the risk that the insurer is assuming to cover the claims.
With an ASO arrangement, the plan sponsor assumes all risk, so they avoid the risk charge. And since dental claims are usually more predictable than other benefits, there is typically less risk involved in covering those claims.
For more information, contact your Group Account Executive or myFlex Sales Manager.
QDIPC updates terms and conditions for 2021*
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 2021 to reflect trends in the volume of claims submitted to the pool, particularly catastrophic claims.
Size of group (# of certificates) Threshold per certificate 2021 Annual factor (without dependents) Annual factor (with dependents) Fewer than 25 $8,000 $251.00 $691.00 25 - 49 $16,500 $165.00 $455.00 50 - 124 $32,500 $94.00 $258.00 125 - 249 $47,500 $68.00 $187.00 250 - 499 $72,000 $49.00 $135.00 500 - 999 $95,000 $40.00 $111.00 1,000 - 3,999 $120,000 $35.00 $95.00 4,000 - 5,999 $300,000 $16.00 $44.00 6,000 and over Free market - Groups not subject to Quebec Industry Pooling Free market - Groups not subject to Quebec Industry Pooling Free market - Groups not subject to Quebec Industry Pooling We will apply the new pooling levels and fees to future renewal calculations that involve Quebec plan members.
- Take advantage of our online services today!
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New secure encryption process for outstanding Equitable S&R business requirements
The Equitable® Savings and Retirement Operations team is improving how they send secure email messages to advisors. These emails are sent when there are outstanding requirements for an application or missing information for requests.
Previously, advisors had to manually password protect or unlock PDF documents. This caused delays and difficulties for recipients. The new encryption process will remove that confusion and make it easier for advisors to send and receive secure, encrypted messages.
Advisors will now receive secure, encrypted emails from the QA annuity operations mailbox. These emails will use an encrypt option to protect personal client information, such as attachments or requests for personal documents. Recipients will get an email with a subject line saying they have a secure private message. They will need to sign in to view the message or choose to get a one-time passcode (OTP).
Please ensure to check the SPAM folder for the OTP option as it will expire in 15 minutes. Enter the OTP in the secure message
portal.
Emails are sent in both English and French, with automatic translation based on browser settings. Recipients must click the view button to access the message in the secure web portal where they can see the encrypted attachment.
Make sure to click Reply in the top right corner of the encrypted message to keep communications within the secure portal.
For more information or assistance, please contact your Director, Investment Sales.
Date posted: May 22, 2025 -
Faster claims processing on Equitable EZClaim Mobile
Equitable Life now provides real-time processing of massage therapy, physiotherapy and chiropractor claims submitted via the EZClaim® Mobile app.
That means plan members will be able to find out the status of their claim almost instantaneously. And, for approved claims, they will receive payment even sooner – often in as little as 24 hours.
Equitable Life plan members can submit all types of health and dental claims via EZClaim Mobile, including co-ordination of benefits and Health Care Spending Account claims. Currently, 43% of all claims are submitted through the user-friendly app.
“We know plan members love the speed and convenience of EZClaim Mobile,” says Norma Crouse, Assistant Vice-President of Claims and Administration at Equitable Life. “With these enhancements, some claims submitted through the app will be processed and paid even faster.”
We’re also adding biometric login functionality to allow plan members to sign in to the app using their face or fingerprint. And we’ve redesigned our landing page on the mobile app to make it easier for plan members to navigate the various features of the app.
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Streamline your transactions with EZtransact
Skip the forms and submit more transactions digitally with EZtransact® to see how Equitable® has continued to make it easier for you to do business with us.
What’s new with these updates?
One-time PAD functionality for Daily/Guaranteed Interest AccountWith the recent addition of DIA/GIA PAD to EZcomplete, you can now utilize EZtransact for one-time pre-authorized debits. This means faster processing with one-time deposits for investment instructions to either a DIA and/or GIA (multiple terms) with end-of-term instructions.
Key benefits of these enhancements include:
• enhanced rate guarantees to secure the best rates available for clients,
• daily updated interest rate guide informs you of the latest rates,
• interest rate guarantee valid for three business days, for direct deposits from clients.
Be sure to use EZtransact on your next DIA/GIA one-time deposit request to experience these improvements.
Reduce RSP to RIF conversion timeReduce time and effort submitting Retirement Savings Plan (RSP) to Retirement Income Fund (RIF) conversion requests. EZtransact is continuing to reduce the amount of time it takes advisors to submit conversion requests.
Features include:
• RSP/Spousal RSP to RIF Conversion to effortlessly submit request digitally.
• RIF Calculator to easily calculate your conversions.
Save time with our enhanced digital experience.
Sort & Filter Enhancements
We’ve taken your feedback and made it easier than ever to find the contracts and clients you’re searching for. This improved advisor experience ensures you can:
• Filter “My Clients” By Product Type/ Registration Type
• Sort “My Clients” By Contract Number/ Client Name
• Filter “Transactions” By Transactions Status/ Transaction Type
• Sort “Transactions” By Date
You asked, and we listened! Keep providing us with your feedback on our digital tools. When we grow together, success is mutual.
Get to know EZtransact and accelerate your sales! If you have any questions, please contact your Director, Investment Sales.
Date posted: April 3, 2025