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  1. Disability Waiver of Premium Requirements
  2. [pdf] Investment Direction - Legacy products
  3. Large Case Markets
  4. Equitable Life Group Benefits COVID-19 Update

    The test of a great partner is one who stands tall when you and your clients need to rely on them most. As the COVID-19 pandemic continues, we thought you might find it helpful to have a summary of where we are during this crisis.

    You can download this PDF version to refer to when meeting with your clients.

    We are here with you and for you

    We’ve taken several steps to support you, your clients and their plan members during this crisis, including:

    • Providing premium refunds for insured, non-refund Health and Dental benefits;
    • Waiving the waiting period for short-term disability claimants who tested positive for COVID-19;
    • Extending out-of-country travel coverage for plan members who were unable to return to Canada;
    • Providing increased flexibility for premium payments; and
    • Keeping you and your clients informed with timely Q&As and announcements, webinars, and insights into the impact of COVID-19 on benefits plans.

    As well, to commemorate our 100th Anniversary this year, we donated $4.5 million to purchase and install a new MRI for Grand River Hospital. And we donated $50,000 – $10,000 each – to five charities in British Columbia, Alberta, Manitoba, Ontario and Quebec. For more information about our celebrations, check out our website at www.equitable100.ca.

    We have adjusted our business to become digital

    Our business is near 100% digital, so the vast majority of our employees are now working remotely from home and are fully functional.  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.

    We pride ourselves on our customer service

    In 2019, our dedication to customer service was recognized with outstanding survey results.

    • In a 2019 survey of customers from 15 life insurance companies,1 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 administrators 2 ranked Equitable Life in the top two insurers across all categories.

    For 2020, we continue to deliver service at the same level with no disruptions during this crisis. Our Customer Care Centre remains open to support plan members and can be reached at 1.800.265.4556. And our Client Relationship Specialists are available for Plan Administrator questions and support.

    We are financially strong and stable

    We remain financially strong and continue to focus on meeting the needs of Canadians. At the end of the first quarter, our Life Insurance Capital Adequacy Test (LICAT) ratio is at 152.5%, well above our goal and the regulatory requirement.

    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. Please contact your Group Account Executive or myFlex Sales Manager if you have questions or need assistance.

     

     

    1  LIMRA CxP Customer Experience Benchmarking Program, Life Insurance In-Force Experience 2019

    2 NMG Consulting’s Canadian Group Benefits Survey 2019

  5. Elevate your business with industry best practices and needs-based selling Keeping your business aligned with industry best practices is vital for your success. It not only supports the fair treatment of clients – it also helps you meet certain market conduct requirements and Equitable’s expectations for needs-based selling.

    The Financial Services Regulatory Authority of Ontario (FSRA) has a program that checks how well advisors follow the Insurance Act and its conduct rules. FSRA looks at how well advisors follow industry best practices and fair treatment of clients guidance (see CLHIA’s guidance document, “The Approach”). Their focus is on key areas such as giving sound advice, managing conflicts of interest, and putting clients’ needs first. FSRA selects advisors’ client files and looks for documentation that indicates needs-based selling. 

    In December 2024, FSRA released its latest Market Conduct Supervision Report. It highlights the need for advisors to follow certain rules and industry best practices. The report found five key areas where improvement is needed:

    1. Missing notes from client meetings and calls
    2. Inadequate advisor disclosure
    3. Missing sales illustrations for different product options
    4. Missing insurance needs analysis
    5. Missing policy delivery receipts


    By following industry best practices and keeping thorough records, you show your commitment to providing clients with the solutions they need. For example, taking notes during client meetings helps you track all discussions that support your recommendations. Having an insurance needs analysis shows you are providing clients with suitable advice to buy the solutions that best meet their needs.

    Resources: Equitable® has resources that can help improve your business practices and help you treat clients fairly. We encourage you to check these out:

    1. PPT: “Ensuring a Compliant, Needs-based Insurance Sale”. The steps to follow in needs-based selling and the records to keep.

    Get CE credits! We offer the above as a self-study course that qualifies for 1 Continuing Education (CE) credit. Access it here: https://equitable-life-education.teachable.com/. (Use your contracted email to log in).

    2. Client File Reference: The records to keep when selling investments, life insurance, or critical illness insurance, including key documents insurers and regulators look for during compliance audits.

    3. Investor Profile Questionnaires: These will help you document your sales recommendations for:
    ● Universal Life (UL) sales: 1190.pdf, and
    ● Pivotal Select (Segregated Fund) sales: 1165.pdf

    Questions? Contact your Equitable wholesaler. They are ready to support your success!

    ® or TM denotes a trademark of The Equitable Life Insurance Company of Canada.
  6. Manage your business virtually with Equitable Life

    As an advisor, we know that physical distancing and self-isolation are proving to challenge the business as usual practise. The good news is that Equitable Life® is here to help. Our self-serve and online tools and resources for Savings and Retirement advisors can assist in maintaining a certain degree of daily activity.

    Online Banking
    Help your clients during this time of isolation and self-distancing by letting them know about banking online. Online banking is an easy and convenient way for your clients to make additional contributions to non-registered savings plans, Tax-Free Savings Accounts or even last-minute contributions to a Retirement Savings Plan.

    Deposits will be made according to the instructions on file. Advisors will receive the regular commissions for any deposits made. Please note that all deposits must originate from the policy owner's bank account.

    For more information on using online banking including financial institutions currently registered for direct deposit with Equitable Life, click here.

    EZcomplete for non face to face
    We know that business still needs to happen, even in times of uncertainty. EZcomplete® can help with that. With our non face-to-face functionality, EZcomplete allows you to remotely connect with your clients. Once the online application is complete, EZcomplete sends your client a passcode that gives secure access to review documents and allows your client to provide an electronic signature. You only need to provide your client’s email address.

    EZcomplete makes the process of completing non face-to-face applications more convenient and doing business with Equitable Life EZ. For more information on EZcomplete, click here.
     
    Limited Trading Authorization
    Need to make some fund adjustments for your client? Limited Trading Authorization (LTA) is built into the Pivotal SelectTM and Guaranteed Interest Account applications to simplify the process of submitting client requests. Alternatively, the Limited Trading Authorization Form # 14 can be completed. Discretionary trading is not permitted. The advisor must have documented the client’s instructions in the client file. To learn more, click here.
     
    Client Access
    Does your client need to make changes to a pre-authorized deposit or beneficiary information, address or banking information? Does your client have a Client Access® account? Client Access is Equitable’s secure online client site that connects clients to tools and policy information. To create a new Equitable Client Access account, your client will need to reference the policy number(s). By registering for Equitable Client Access, policyholders and annuitants can make changes and view information such as:

    Details of investment holdings including:

    • Up-to-date market value of investments;

    • Guaranteed Interest Account (GIA) maturity dates and values;

    • Premium amounts, death and maturity guarantees and beneficiary information; and

    • Recent account activity.

    Details of Payout Annuities including:

    • Next payment date;

    • Annual income and payment guarantee details; and

    • Beneficiary and Annuitant information.

    There is also a secure inbox where copies of statements and other correspondence are available. To learn more, click here. 
     

    Need help with any of these resources? Contact our Advisor Services team Monday to Friday 8:30 a.m. – 7:30 p.m. ET at 1.866.884.7427 or email savingsretirement@equitable.ca, or your local Regional Investment Sales Manager.

  7. Equitable Life Group Benefits Bulletin – January 2022

    Short-term disability coverage for plan members with COVID-19*

    Please note: This announcement applies only to groups with short-term disability coverage through Equitable Life
     
    As the COVID-19 pandemic continues, and the situation evolves, we continue to adjust our practices to ensure ongoing support for our plan members.
     
    PCR tests no longer required for COVID-related STD claims
     
    Some provinces have recently restricted access to COVID-19 PCR testing to only high-risk individuals. To ensure your clients' eligible plan members receive their short-term disability benefits in a timely manner, we no longer require a positive PCR test for plan members submitting COVID-19-related STD claims.
     
    Plan members who are experiencing symptoms of COVID-19 or who have tested positive for the virus (either with a PCR test or with an at-home rapid test) and are unable to work from home should complete the Short Term Disability Plan Member COVID-19 Claim Form (#421A). 
     
    They should indicate the date of the onset of symptoms or date of their positive test result. Where applicable, they should also indicate the date they have been cleared by public health to end their self-isolation. The form includes an attestation that the information they have provided is accurate.
     
    The employer needs to complete the Short Term Disability Employer COVID-19 Claim Form (#421B). They should indicate the expected return-to-work date according to their provincial health guidelines, or using the date provided by a public health official.
     
    Waiting periods for COVID-related STD claims
     
    To support your clients' plan members during the initial stages of the pandemic, we waived the STD waiting period if a plan member’s absence was due to symptoms or a diagnosis of COVID-19.  Now that COVID-19 has become the “new normal,” we are returning to our standard practices and treating the virus as we would any other illness.
     
    Effective Jan. 1, 2022, standard waiting periods will apply for COVID-related STD claims, according to the terms of the Group policy. This ensures that all plan members submitting a STD claim are treated fairly, no matter what the cause of the claim.
     
    Eligible plan members will receive STD benefits up to a maximum of 10 days from the date of the onset of symptoms or a positive COVID-19 test result, minus the waiting period.
     
    For example, if the plan has a five-day waiting period, and the plan member returns to work nine days after a positive test result, they would be eligible for four days of benefits payments.
     
    If the claimant is still unwell after 10 days, then the standard Short Term Disability Claim Form (#421) needs to be completed.  
     
    If a plan member is admitted to hospital, benefits will be paid following the waiting period applicable to hospital claims. 
  8. Tax Free Savings Account (TFSA) Comparison Calculator
  9. Individual Insurance
  10. Administration Reference Guide for Savings & Retirement