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1. Understanding segregated funds and their benefits
2. [pdf] Why do business with Equitable Life
3. [pdf] Choosing the right account type
4. Submission to Commission - How fast is it?
5. Digital Payment Options for Your Client’s First and Subsequent Annual Payments for Individual Life a This article has been updated to reflect changes to the Pre-Authorized Debit (PAD) for new business annual premiums – see below #2.
   
   To enhance the ease of doing business with Equitable Life, we have added some additional payment methods to help your clients make their first and subsequent annual premium payments easily.
    
   Three digital payment options for annual premium payments:
   
      1. Online bill payment - Your client can pay their annual premium easily and quickly by using the online bill payment option through their financial institution. On your client’s banking website, they must set up “EQUITABLE LIFE-INDIVIDUAL LIFE & CI” as a “PAYEE”. Use the 9 (or 7) digit policy number as the “account number” then pay this new “bill”. This is the preferred option for annual payments.  
   
      2. Pre-Authorized Debit (PAD) - For policies where annual premiums are $2,500 or greater, your client now has the additional option of an annual PAD payment. Your client needs to provide a signed PAD authorization form, or a signed letter of direction that indicates they have read and agree to the terms of the PAD. This is a one-time authorization and needs to be repeated for subsequent annual payments.  
   
      3. Electronic Funds Transfer (EFT) or Wire Transfer - If online bill payment or a one-time PAD will not meet your client’s needs, such as when transferring funds from another financial institution or business to Equitable Life, and the annual premiums are $20,000 or greater, then an EFT is now an option that is available. A wire transfer is available on an exception basis only and is subject to approval.  
   
   Please contact your Regional Sales Team or customer service team for further questions.
    
6. Most employers staying the course on benefits during COVID-19

   With businesses suffering hardship due to COVID-19, employers are turning to you for advice on their benefits plans during these difficult times. We’ve received numerous questions from advisors about changes our clients are making to their plans during this crisis.

   So far, the vast majority of clients are standing pat and taking a wait-and-see approach. Plan amendments have been the exception – fewer than 1% of our clients have made COVID-19-related amendments as of mid-April. Almost all are clients with fewer than 50 lives.

   We know that many of our clients have experienced layoffs, but hardly any have cancelled benefits. Fewer than 0.1% have terminated benefits to date.

   Below is a snapshot of plan amendments and terminations relative to our overall block, and an overview of the types of amendments we’re seeing.

   
   
   
   
   
   COVID-19-related plan changes on Equitable Life’s block of business

   As of April 15, 2020
   

   Have clients who need to make a change?

   We know this is a difficult time for Canadian employers. If you have a client who needs to make a change to their plan, please contact your Group Account Executive or myFlex Sales Manager. We have a range of options to help them manage, and changes can be made quickly. The average turnaround time for COVID-19-related amendments is currently about four days.

   We’re happy to work with each employer to understand the options that suit their specific situation best.

7. Update on our service levels during the COVID-19 pandemic

   Supporting your clients and their plan members is more important than ever during the ongoing COVID-19 pandemic

   So, we’re providing an update on our service levels.

   We acted quickly to ensure there were no disruptions in service – most of our staff were working remotely from home and fully functional within a few days. We’ve reallocated resources from functions where volumes are down, such as dental claims, to those experiencing higher volumes. We also created a separate queue for COVID-19-related STD claims.

   As a result, we’ve been able to maintain the industry-leading service levels you have come to expect from us, and our turnaround times continue to be well within our targets.

   Here’s a summary of what you and your clients can currently expect in terms of average turnaround times:

   Service category	Average Turnaround Time (as of April 26th)
   Customer Care Centre wait times	89% of calls answered within 20 seconds
   Responses to emails to our Service Team	Within 24 hours
   Health claims	2 days
   Dental claims	2 days
   Life claims	1 day
   STD claims	4 days
   LTD claims	4 days
   Plan member updates	2 days
   New customer implementations	16 days
   COVID-19-related plan amendments	4 days
   Other plan amendments	8 days
   Quotes	2 days ahead of deadline

   We will closely monitor the situation and continue to adapt to ensure we maintain our service levels. And we will do our best to resolve any service issues that arise as quickly as possible.

   Please feel free to contact your Group Account Executive or myFlex Sales Manager and let us know how we’re doing.

8. Mental health support for all plan members

   As the COVID-19 pandemic continues, many Canadians are dealing with increased stress and anxiety. Now, more than ever, plan members need easy to access resources to help them cope with these uncertain times.

   Through our partnership with Homewood Health^®, the Canadian leader in mental health and addiction services, all of our clients and their plan members have access to tools designed to provide guidance and support, including i-Volve, Homewood’s Online Cognitive Behavioural Therapy tool.

   Proven therapy, at your own pace

   Included with Homewood Online resources in every Equitable Life^® plan, i-Volve can help plan members identify, challenge and overcome anxious thoughts, behaviours and emotions. It encourages incremental changes in behaviour and is proven to be an effective therapeutic approach for dealing with mild to moderate anxiety or depression. Plan members work at their own pace through a series of web-based exercises, ultimately helping to change the ways in which they think, feel and react in various situations.

   Free for all Equitable Life plan members

   All Equitable Life clients and their plan members have access to i-Volve. It’s available 24 hours a day, seven days a week, wherever you choose to access it.

   Contact your Group Account Executive or myFlex Sales Manager to learn more about Homewood Health and i-Volve Online CBT.

    

9. Equitable Life added the Mackenzie Global Strategic Income Fund to Pivotal Select
   On June 7, 2021, Equitable Life® launched five additional funds to the Pivotal Select™ segregated funds lineup. Included in the launch is the Mackenzie Global Strategic Income Fund. Designed to deliver growth and income to investors, the underlying fund objective seeks income with the potential for long-term capital growth by investing primarily in fixed-income and/or income-oriented equity securities of issuers anywhere in the world.
    
   At Equitable Life, we pride ourselves on offering quality products. This means always reviewing our investment fund lineup. This fund, along with the other new funds are available on all Pivotal Select load types and guarantee classes, providing you and your clients with even more choice and flexibility.
    
   To learn more about Mackenzie Global Strategic Income Fund, join us on Tuesday, June 22 at 2:00 p.m. ET/11:00 a.m. PT to hear Eric Glover, AVP Investment Director and Hadiza Djataou, VP Investment Director, from Mackenzie Investments, highlight the balanced solution that this fund can bring to your client’s investment portfolio.
    

   Click here to register!

    
   Want to learn more about our new funds? Contact your Regional Investment Sales Manager today.
    

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

10. Changes to Short Term Disability Benefit Calculations The Canada Employment Insurance Commission and Canada Revenue Agency have announced the 2022 changes to Maximum Insurable Earnings, and premiums for employment insurance. These changes take effect January 1, 2022.
     

    	2021 Amount	As of Jan. 1, 2022
    Maximum Insurable Earnings (MIE)	$56,300	$60,300
    Maximum Weekly Insurable Earnings (MWIE)	$1,083	$1,160
    EI Benefit (55% of the MWIE, rounded to the nearest dollar)	$595	$638

     
    How does this affect your clients?
     
    If your client’s Group Policy with Equitable Life includes a Short Term Disability (STD) benefit which is tied to the EI Maximum Weekly Insurable Earnings, and at least one classification of employees has less than a $638 maximum, then to comply with the provisions of their policy, their STD benefit will be revised with the maximums updated based on the percentage of EI Maximum Weekly Insurable Earnings shown in their policy.
     
    The additional premium for any increase from their previous STD amounts and new STD amounts will be show on their January 2021 Group Insurance Billing (as applicable).
     
    If their STD maximum is currently higher than $638 or based on a flat amount (not based on 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 have questions about the process, they can email Kari Gough, Manager, Group Quotes and Issue.