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1. Introducing a new Pivotal Select sales charge option from Equitable Life of Canada

    

   Equitable Life® is adding a No Load Chargeback (NL-CB) sales option to its Pivotal Select™ segregated funds lineup. The new option provides an additional choice to the existing Low Load (LL), No Load (NL) and Deferred Sales Charge (DSC) options. 
   
   Equitable’s new NL-CB option will provide more choices to both client and advisor. Equitable® offers a competitive initial commission and a 36-month chargeback schedule.
   
   By offering the choice of four sales charge options, as well as the choice between three distinct guarantee classes: Investment Class (75/75), Estate Class (75/100) and Protection Class (100/100), and a diverse selection of investment funds, the Pivotal Select contract provides the flexibility to build an investment solution that meets the needs of your clients.
   
   For more information about Equitable’s NL-CB or any of Equitable’s products, contact your local Regional Investment Sales Manager or our Advisor Services team at 1.866.884.7427 Monday to Friday 8:30 a.m. – 7:30 p.m. ET or email savingsretirement@equitable.ca

2. Equitable Life of Canada ends 2020 in a position of financial strength

   Equitable Life of Canada is pleased to report that our strategic approach continued to serve us well in 2020, despite operating in a global pandemic.

   Equitable Life, one of Canada’s largest mutual life insurance companies, closed out 2020 with strong earnings and solid growth.

   The Company reported earnings of $153 million, equating to a return on policyholders’ equity of 16%. This result was driven by strong sales, investment performance, positive impacts from favourable expense ratios and reserve assumption changes.

   “There is no doubt the global pandemic has had, and continues to have, a profound impact on the lives of Canadians and created challenges for all of us in 2020 that we could never have envisioned,” said Ron Beettam, Equitable Life’s President and Chief Executive Officer. “Thanks to the resiliency and commitment of our entire team, we effectively responded to unfavourable impacts caused by the pandemic, including market volatility, and continued to achieve a high growth rate on most key measures, ending 2020 in a position of financial strength.”

   Equitable Life reported premiums and deposits of $1.7 billion in 2020, contributing to $6.0 billion of assets under administration. This growth was supported by very strong sales during the pandemic, as more Canadians turned to insurance to protect the financial security of their families. Dividends to participating policyholders increased by 24% over the prior year.

   The Individual Insurance business reported 2020 sales of $149 million, reflecting the third consecutive year of double-digit sales growth. Savings & Retirement reported sales of $401 million, driven by sales of segregated funds. Group Benefits delivered sales of $46 million, despite competitive industry pricing strategies and the impact the pandemic had on businesses.

   Equitable Life finished the year with an impressive LICAT ratio of 166%, well above the regulatory target and one of the highest in the industry. This capital result demonstrates that we are well-positioned to continue meeting our commitments to our policyholders. In addition, DBRS Limited (DBRS Morningstar) upgraded our Financial Strength rating to A (high) with Stable Trends in September.

   “While we don’t yet know what future impacts the global pandemic could have on our business, we know we can face the future with confidence,” said Beettam. “I am very proud of all that we have accomplished together, especially throughout this unpredictable year, and I know the Company is very well positioned to meet the challenges ahead and will continue building on those achievements by focusing on organic and profitable growth across all lines of business, with a continued emphasis on meeting the needs of our policyholders and distribution partners.”

   2020 Financial Highlights

   • Net income of $153 million, for a return on policyholders' equity of 16%
   • Capital strength, as measured by the LICAT ratio, ended the year at 166%
   • Participating policyholders' equity surpassed $1 billion
   • Premiums and deposits increased by 6.8% to $1.7 billion
   • Sales of $149 million in Individual Insurance, $401 million in Savings and Retirement, and $46 million in Group Benefits
   • Assets under administration grew 17.6% to $6 billion
   • Benefits and payments to policyholders of $820 million
   • Dividends to participating policyholders increased by 24% to $61 million

   About Equitable Life of Canada

   Canadians have turned to Equitable Life since 1920 to protect what matters most. We work with independent advisors across Canada to offer individual insurance, savings & retirement, and group benefits solutions to meet your needs.

   Equitable Life is not your typical financial services company. We have the knowledge, experience and ability to find solutions that work for you. We’re friendly, caring and interested in helping. As a mutual company, we are not driven by shareholder pressures for quarterly results. This allows us to focus on management strategies that foster prudent long-term growth, continuity and stability. We are dedicated to meeting our commitments to customers – now and in the future.

3. Fabien Jeudy takes over as President and CEO In March, we announced that Fabien Jeudy was appointed as Equitable Life’s next President and CEO. Jeudy officially took over on July 5^th, succeeding Ronald Beettam, who is retiring after 16 years with the company.
   
   Jeudy is a collaborative leader with more than 30 years of experience in the insurance industry, leading actuarial, finance, risk management, distribution, marketing teams and operational teams in the Life & Health Insurance, Wealth Management and Group Benefits markets in Canada, the US, and Asia.
   
   “His proven success developing and managing high-performance teams, building long-term relationships with stakeholders and regulators, growing and innovating the insurance business, and making long-term decisions with the policyholder in mind make him the perfect choice to lead Equitable Life into its next 100 years in business,” said Board Chair Douglas Alexander.
   
   Learn more about our new President and CEO
    
4. WFG KYC and Trade Ticket documents are now part of EZcomplete

     
   
   Equitable Life® wants to help you get on with your day. Effective June 11, 2022, WFG’s KYC* and Trade Ticket documents will be integrated into the highly rated EZcomplete® online application tool. This means no more completing these documents separately and uploading them to EZcomplete.
   
   By integrating the KYC and Trade Ticket with EZcomplete:

   • these documents will automatically populate with information collected in the EZcomplete process,

   • necessary signatures will be captured, and

   • these documents will be sent to WFG’s back office on your behalf.

    
   Once the application has been submitted, signed documents will be available for advisors, clients, and joint clients to download. It is that easy.
    
   Get on with your day with Equitable Life. Log in to EZcomplete today.
    
   Speak to your Regional Investment Sales Manager to learn more.
    
   * KYCs on corporately owned policies are not currently supported
   ® denotes a trademark of The Equitable Life Insurance Company of Canada.

5. December 30 Deadline for 7% No Load CB5 Initial Commission for Investment Class (75/75)

   As the end of year approaches, so does the temporary increase to our CB5 sales option initial commission from 5.6% to 7.0% on Pivotal Select™ Investment Class (75/75). The 7% initial commission promotion will end on December 30, 2022.*
    

   • Deposits and transfers to CB5 funds for Pivotal Select Investment Class (75/75) must be made by December 30, 2022, at 11:00 a.m. ET. Any deposits received after this date will not receive the promotional rate.
   • Applications submitted before the December 30, 2022, deadline will only receive the promotional rate if also funded before December 30, 2022.
   • If the client is awaiting a transfer from another financial institution, please follow up with the institution to ensure the transfer arrives by December 30, 2022.

    
   For more information, please contact your Equitable Life Regional Investment Sales Manager.
    
   * Equitable Life reserves the right to end the campaign, at any time and without notice.
    
   ™ or ® denote trademarks of The Equitable Life Insurance Company of Canada.
   
   November 24, 2022

6. Now better than ever! The updated “Understanding participating whole life insurance” (#1038) is here Our most-viewed client guide has gone through a full update. It now features new Equitable^® branding and wording that makes all the difference.
   
   We’ve rewritten it to help clients grasp concepts like dividends better. And to help clients understand how we invest their premium payments in the participating account. It will help you have conversations with clients about the ins and outs of their participating whole life insurance policies.
   
   We’ve also refreshed the visuals throughout. The redone 1038 guide is another way we’re showing our wholehearted commitment to our participating policyholders.
   
   See the EquiNet^® marketing materials page to find the updated 1038!
   
   Want to know more?
   Your Equitable Wholesaler is here to help!
    
7. The Equimax EVOLUTION Continues Earlier this year, we announced a host of improvements to our Equimax^® Participating Whole Life solution, designed to add value, flexibility, and affordability to an already excellent plan. 
   
   Today we’re pleased to announce the following additional updates took effect on August 12^th, 2023: 
   1. Targeted improvements in rates, death benefits, and cash values for Equimax Estate Builder and Equimax Wealth Accumulator plans. 
   2.  New joint last to die rates for the Wealth Accumulator plans to align with Estate Builder. 
   3.  A new “rated age” calculation, and
   4.  New rates for determining the maximum enhancement amount with the Enhanced Protection dividend option.
   
   Visit our splash page and watch our informative video to learn more and start selling the enhanced Equimax today.
   
      
   
   Refer to our Transition Rules for all the details on processing your applications.
   
   
   Our illustration tools are updated:
   ●  New Web-based illustration software on secure EquiNet^® (log in required)
   ●  New Desktop illustration software 
   ●  New EZstart™ on EquiNet 
   
   Need more information?
   For information on these changes, please contact your Equitable Life wholesaler. 
   
   
   ^® and ^TM denote trademarks of The Equitable Life Insurance Company of Canada.
8. Message from Ron Beettam
   As COVID-19 continues to spread, we want to reassure you that we remain ready and committed to support you and your clients.
   
   We have a robust and well-tested business continuity plan in place and our business is almost 100% digital. Almost 90% of our employees are now working remotely from home and are maintaining the high level of service you have come to expect from us. We still have a fully functioning Document Services Centre that is managing our incoming and outgoing mail. Our sales and customer service teams remain open to support you and your clients. 
   
   Equitable Life’s online application process, EZcomplete®, offers non face-to-face capability and continues to be your go-to resource for managing your business virtually. We are receiving a record number of online applications and are committed to helping you maintain a certain degree of daily activity. EZcomplete® non-face-to-face works for all life, critical illness and segregated fund applications.
   
   Advisors will be pleased to know that we have increased non-medical limits for life insurance. We are also looking at other underwriting changes, digital delivery of life insurance contracts and additional digital payment options.
   
   Our Savings & Retirement advisors will find our new Transaction Authorization Requirements table a valuable resource for submitting forms and documents. Can’t meet with your client in person to get a signature? Not to worry. You can have your  client sign a letter of direction and take a picture to authorize a number of transactions.
   
   Transacting in a non face-to-face environment can be a challenge but we will continue to revisit existing processes and look for ways to modify requirements to help you to continue managing your business. All of us are facing an unprecedented number of urgent situations where there is no established protocol. Our commitment to you and your clients is to respond quickly, and to be flexible where we can, tailoring solutions to specific needs.
   
   To stay up-to-date, please refer to Equitable Life’s COVID-19 information page. There you will find the latest information for all lines of business. 
   
   As the global situation continues to evolve rapidly, we ask for your patience as our solutions also evolve quickly and accordingly. Rest assured that Equitable Life is unwavering in our support, and we will be here to help you protect what matters most to Canadians.
   
   Ron Beettam, President and CEO
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