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January 2024 eNews

In this issue:

Equitable scores high marks with group advisors*
REMINDER: Equitable's National Biosimilar Program starts in March*
2024 dental fee guide updates*
Homewood Health wins HR Reporter Reader's Choice award for EFAP excellence*

*Indicates content that will be shared with your clients.

Equitable scores high marks with group advisors*

Equitable ranked first for operational service among major group insurers in a recent study of Canadian group benefits advisors.

NMG Consulting, a leading global consulting firm, conducted in-depth interviews with 146 Canadian group benefits brokers, consultants, MGAs and third-party administrators between May and August 2023 for its annual Canadian Group Benefits Study. Based on these interviews, NMG ranked group insurers in six categories, ranging from operational management to technology.

Nationally, Equitable ranked among the top three in five of the six main categories, including number one for Operational Management:

Category	Ranking
Operational management	1st
Initiatives (including seminars & training)	2nd
Technology	3rd
Underwriting & claims management	3rd
Relationship management	3rd

“Advisors regard us highly in many categories. That’s a testament to our mutual status and ability to focus exclusively on our clients and advisor partnerships,” said Marc Avaria, Executive Vice President, Group Insurance Division. “We are truly working together to build strong, enduring and aligned partnerships with our clients and advisors.”

“We’re delighted with these results and are committed to continuously advancing our delivery of a better benefits experience for our clients and advisors,” added Avaria.

More highlights from the latest NMG survey

Nationally, we ranked first in seven subcategories in Operational Management, including:

Overall service to intermediaries,
Overall service to plan sponsors,
New quote process,
Plan implementation,
Renewal process,
Accuracy and timeliness of reporting and billing, and
Administration quality and responsiveness

In Underwriting and Claims Management, we finished in the top three for flexibility of underwriting (2nd).

And we were rated strongly in Technology, finishing in the top three for:

Overall technology for Intermediary (2nd)
Member experience (3rd)
Quality of technology for the plan sponsor (2nd)
Quality of mobile application (2nd)

REMINDER: Equitable's National Biosimilar Program starts in March*

In October 2023 we announced the upcoming launch of our national biosimilar program. Starting March 1, 2024, we are expanding our biosimilar switch initiatives to provide a single, nationwide** program. 

Why we’re making the switch

Over the past few years, most provinces have introduced policies to delist some originator biologic drugs. They require most patients to switch to biosimilar versions of those drugs to be eligible for coverage under their public drug plans. Soon, it is expected that all provincial drug plans will cover only biosimilars.

Equitable’s National Biosimilar Program simplifies drug plan coverage by replacing our provincial programs. It also protects clients from additional drug costs while offering access to lower-cost biosimilars deemed equally safe and effective by Health Canada.

How will this affect clients' drug plans?

Because we have already introduced biosimilar switch initiatives in most provinces, the impact of this change will be minimal. It will primarily affect plan members in provinces or territories where we haven’t already required the switch to biosimilars. It will also affect plan members who are taking biosimilars that were not originally included in the switch initiative for their province.    

Regardless of where they live, plan members across Canada will no longer be eligible for most originator biologic drugs if they have a condition for which Health Canada has approved a lower-cost biosimilar version of the drug. Plan members already taking the originator biologic will be required to switch to a biosimilar version of the drug to maintain coverage under their Equitable plan. We will support their transition with education, personalized communication, and resources. 

Advance notice for plan members

We contacted affected claimants in early December to give them enough time to change their prescriptions and avoid any interruptions in their treatment or their coverage.    

If you have any questions about this change, please contact your Group Account Executive or myFlex Account Executive.    
 ** Excludes plan members in Quebec who participate in a separate provincial program. 

2024 dental fee guide updates*

Each year, Provincial and Territorial Dental Associations publish fee guides. Equitable uses these guides to help determine the reimbursement limits for dental procedures.

For your reference, you may wish to refer to the 2024 list of the average dental fee increases for general practitioners.

Homewood Health wins HR Reporter Reader's Choice award for EFAP excellence*

Equitable is proud to congratulate our Employee and Family Assistance Plan (EFAP) partner, Homewood Health®, for winning the Canadian HR Reporter 2023 Reader’s Choice Award in Employee Assistance Plan services. Homewood’s EFAP provides confidential support for a range of health, family, money, and work issues through face-to-face, phone, email, chat, or video counselling. The award recognizes their high standards in counselling and mental health support services.

The annual Reader’s Choice Awards identify organizations that provide outstanding expertise and services for HR professionals and employers across Canada. Those organizations provide valuable information on useful, innovative HR and employee benefits products and programs, in categories such as recruitment, mental health services, employee engagement programs, and more.

Sharing Homewood Health with your clients

Since 2019, we have worked with Homewood to provide mental health services for Equitable benefits plan members.

Your clients can access Homewood Health’s award-winning EFAP for an additional fee by adding it to their benefits plan. Services are available 24/7, 365 days a year.

All Equitable clients also have free access to Homewood Health Online in their benefits plan. Homewood Online provides a variety of helpful wellness resources, including:

Homeweb, an online and mobile health and wellness portal,
Health Risk Assessment, a group of assessment tools to help plan members identify and overcome health and wellness barriers, and
Online Internet-based cognitive behavioural therapy (iCBT) through Sentio to manage symptoms of anxiety and/or depression.

Questions

To learn more about Homewood Health’s services, contact your Group Account Executive or myFlex Account Executive.

[pdf] GIA Laddering Option
[pdf] Application for Contract To Sell Insurance Products and Request for Sponsorship
Compliance Resources
Financial planning concepts & tools
New year tune-up for Equimax participating whole life
It’s a new year and time for an Equimax^® tune up! We have made some exciting changes for new sales of Equimax Estate Builder^® and Equimax Wealth Accumulator^® effective February 11, 2023.

These exciting enhancements make Equimax even more robust, simpler and cost effective, to ensure it continues to be the preferred participating whole life solution for clients and advisors alike.

Watch our informative video to learn more.

Check out our Equimax splash page for complete details on all the enhancements, our transition rules, and much more.

What’s new?
- All new children’s policies will now be issued as non-smoker for life – we will no longer request a non-smoker declaration for new children's policies.
- We have also removed the policy fees on new Equimax sales, reducing total premium payments – allowing clients to buy even more coverage for the same payment.
But there’s more to our Equimax tune-up!
The following enhancements add more value, making it easier for you to recommend Equimax as your preferred whole life solution.
- Monthly Excelerator Deposit Option(EDO) payments and EDO payments received off anniversary will now buy more paid-up additional insurance,
- Dividends earned on EDO payment paid-up additions, and credited on the base policy, can now buy even more paid-up additions,
- New clients now have the option to elect individual policies on joint last to die (JLTD) plans if their personal situation changes,
- We have also changed the way we calculate monthly premiums – resulting in lower premium payments across the board,
- And we have added our KIND™ benefit program to Equimax, as we did for our newest Generations Universal Life solution last September – making it easier for families and beneficiaries at claim time.
- And, finally, we are introducing some new sales illustration features, a Web-based software and more to help you market Equimax!
Visit our splash page and watch our informative video to learn more and start selling the enhanced Equimax today.

Plus, visit our Equimax product page on EquiNet^®, then click on the Marketing Materials tab for the latest Equimax marketing materials.

Need more information? Please contact your local wholesaler.

_{® and}™ _{denotes a trademark of The Equitable Life Insurance Company of Canada.}
Giuliano Savini, Top 50 Best Wealth Management Wholesalers in Canada for 2023 award recipient

Meet Giuliano Savini, Regional Investment Sales Manager for the Greater Toronto Area, who was recently recognized as one of the Top 50 Best Wealth Management Wholesalers in Canada for 2023 by Wealth Professional Canada. We congratulate Giuliano on this prestigious industry award, which acknowledges his invaluable expertise and contribution to the field of wealth management wholesaling.

When asked what inspired him to pursue a career in this field, Giuliano credits a call from a trusted friend, Joseph Trozzo, who recommended Equitable as an excellent place to work. He joined the company four years ago and has not looked back. For Giuliano, the motivation lies in the meaningful work he does through his advisors and territory, finding the best solutions for their needs.

His greatest achievement at Equitable, according to Giuliano, is the recognition as one of the Top 50 Wealth Wholesalers in Canada. What makes this accomplishment even more special is that the award is advisor-nominated, which means his advisors recognized the impact of his work in helping them succeed.

Looking at his career overall, Giuliano takes pride in the relationships he has built with his advisors and territory over the years. He is proud to be recognized as a subject-matter expert and a business builder, always aiming to be a partner in his advisors' success.

When asked for advice for those starting out in the industry, Giuliano emphasizes the importance of focusing on the success of their advisors. He advises them to use their advisors' success to drive sales and always keep them at the forefront of their business.

Looking ahead, Giuliano sees the industry evolving into a more consultative and partnership-oriented approach. He believes that wholesalers will need to expand their knowledge base beyond competitive product information and into areas like marketing, investor psychology, and practice management to maintain a competitive edge in the industry.

To read more about Giuliano and the other Top 50 Wealth Management Wholesalers in Canada, visit Wealth Professional Canada's website.

Posted : April 12, 2023
New Year, New Opportunities—Explore Equitable’s Competitive Term Life Solution The new year brings new opportunities to help clients feel confident about their financial future. Equitable’s term rates are among the best on LifeGuide in key markets*, combined with our flexibility and support, making us a great choice for clients. Run an illustration now!
Why choose Equitable for term life insurance?
• Great rates – we’ve recently repriced! On average, we reduced our monthly term rates by 5%. Check out our great term rates for yourself. Tip! For best term rates, choose monthly premiums.
• Flexibility to change the term plan** – life is always changing, and so do life insurance needs. Offer clients the flexibility to:
• Exchange term plans: from Term 10 to Term 20 or Term 30/65. They can also exchange from Term 20 to Term 30/65.
• Convert to permanent coverage: Offer clients the security of changing their term plan to any of our permanent plans without underwriting.
• Partial term conversion with term rider carryover: Convert part of the term coverage into permanent protection and carry over the remaining coverage as any term rider plan.
• Extra support when it matters most – our KIND^® program offers a suite of benefits for clients and their families. This reflects our deep commitment to standing by them when it matters most.

Build client relationships with trusted protection
This year, and every year, strengthen your client relationships by choosing Equitable for term life protection. With our flexible solutions, innovative features, and unwavering support, you can help clients move forward with confidence.

Start the year off by helping clients meet their insurance needs with a term plan.

Run a quote today!

Contact your Equitable wholesaler today to learn more!

*Effective November 22, 2025. Our monthly term rates are ranked among the best on LifeGuide when compared against top carriers in key markets.
** Administrative rules and age limits apply to exchanges and conversions. Please see the policy for details. The policy governs in all cases.
Equitable’s Grow Your Way Home contest

From May 1 to August 31, 2026, clients who open an Equitable FHSA, make an FHSA contribution, or set up recurring FHSA deposits are automatically entered into Equitable’s Grow Your Way Home contest. A simple way to reconnect, re‑engage and help guide clients on their journey to home ownership.

Why this matters for your business

Use the contest as a reason to reach out:
- Re‑engage clients who haven’t contributed recently
- Encourage recurring deposits tied to paydays
- Introduce the FHSA to younger clients or first‑time buyers
- Support clients planning to use tax‑refund funds
What clients and advisors can win.

There will be two prize draws:
- Two winning clients will receive $8,000.
- Each winning client’s advisor receives $1,000.
See here for full contest rules and details.

How clients earn entries

We’re rewarding actions that help build real progress:
- New FHSA contracts
- One‑time deposits
- Automated monthly or bi‑weekly contributions
Key Dates

Contest window: May 1 – August 31, 2026

Draw date: September 21, 2026

How to Enter

Submitting contributions is quick and easy:
- Use EZcomplete® to open new accounts or process contributions.
- Use EZtransact® for ongoing client transactions.
Make the most of it

Your Director, Investment Sales can help you build a tailored outreach plan, share conversation starters and identify high‑potential clients to engage throughout the summer. It’s a simple, effective way to spark FHSA activity and strengthen client relationships all season long.

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

Equitable’s Grow Your Way Home contest: No purchase necessary. Contest period is May 1, 2026 to August 31, 2026. Enter by: opening an Equitable FHSA during the Contest Period; making a deposit to your Equitable FHSA during the Contest Period; or submitting a no-purchase entry. Two prizes of $8,000 each to be drawn on September 21, 2026 will be awarded to clients. The servicing advisor for the contract to which the selected entrant made the deposit is also an eligible winner and will receive a $1,000 prize. Open to legal residents of Canada of the age of majority. Odds of winning depend on number of eligible entries received during the Contest Period. For full contest rules, including no-purchase method of entry, see the full contest rules.
Steady may be better than perfect. Why dollar-cost averaging matters.

If clients are saving for a first home, staying consistent matters. A quick explanation of dollar‑cost averaging (DCA) helps them see why investing the same amount on a regular schedule can help reduce the stress of volatility, remove guesswork and keep their First Home Savings Account (FHSA) savings on track — giving you a natural bridge to Equitable’s Grow Your Way Home contest this summer.

Reinforce that DCA is about time in the market and consistent behaviour, not trying to pick the “perfect moment.” Here are a few talking points to work DCA into your FHSA conversations.

“Consistency beats guesswork.”

With DCA, clients contribute a fixed amount on a set cadence (e.g., bi‑weekly). That discipline can help them keep moving toward their saving goals even when headlines are noisy.

“Different prices, naturally.”

Regular contributions mean clients buy at various price points over time, which can help smooth out the impact of market ups and downs and also help spread risk.

“Make it automatic.”

Align DCA to paydays. Automating bi‑weekly FHSA deposits builds habit, helps reduce friction and keeps clients progressing toward their first home.

As you continue FHSA conversations this summer, remind clients that DCA plus automation helps them participate consistently, through all market conditions. And from May 1 to August 31, 2026, every Equitable FHSA account opened and every deposit to an FHSA account earns automatic entries in Equitable’s Grow Your Way Home contest.

Use EZcomplete® and EZtransact® to keep contributions seamless and connect with your Director, Investment Sales for additional support, tools and ideas to help you continue these conversations throughout the summer.

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

Equitable’s Grow Your Way Home contest: No purchase necessary. Contest period is May 1, 2026 to August 31, 2026. Enter by: opening an Equitable FHSA during the Contest Period; making a deposit to your Equitable FHSA during the Contest Period; or submitting a no-purchase entry. Two prizes of $8,000 each to be drawn on September 21, 2026 will be awarded to clients. The servicing advisor for the selected entrant’s relevant FHSA contract is also an eligible winner and will receive a $1,000 prize. Open to legal residents of Canada of the age of majority. Odds of winning depend on number of eligible entries received during the Contest Period. For full contest rules, including no-purchase method of entry, see the full contest rules.