EquiNet Equitable Life's advisor site

Site Search

103 results for 31

  1. FHSA tips for new homeowners Clients have a 30-day window after moving into their new home to withdraw funds from their First Home Savings Account (FHSA) tax-free for expenses. Beyond this period, they have until December 31 of the following year to either transfer any remaining funds to a Registered Retirement Savings Plan or Registered Retirement Income Fund without incurring tax penalties, or withdraw the remaining funds as taxable income, which will be subject to withholding tax.

    Do you know clients dreaming of homeownership? We are here to assist! Clients who contribute to an Equitable® FHSA between May 1 and September 30, 2025, will be entered into our Close to Home contest, for a chance to win one of two $8,000 prizes. Whether opening a new Equitable FHSA or making an annual contribution, this is a fantastic opportunity to help clients get closer to owning a home.

    Advisors, your efforts matter too! You have a chance to win a $1,000 prize if the client you are assisting, in alignment with their unique homeownership needs, is selected as a winner. At Equitable, we believe that when we grow together, success is mutual.

    Don’t forget about Equitable’s user-friendly online application platform, EZcomplete®, or process an online transaction with ease using Equitable’s EZtransact®. These tools are fast, simple, and could bring clients closer to achieving their goals.

    Want to learn more? Speak to your Director, Investment Sales.

    Equitable’s Close to Home Contest: No purchase necessary. Contest period May 1, 2025 to September 30, 2025.  Clients enter by making a deposit to an Equitable FHSA during the contest period or by submitting a no-purchase entry. Two prizes of $8,000 CAD each to be drawn on October 15, 2025 will be awarded. The servicing advisor for the policy to which the selected entrant made the deposit is also an eligible winner and will receive a $1,000 CAD prize. For example, if an Equitable client is a winner of the $8,000 prize, the client’s servicing advisor wins 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. 

    Date posted: July 23, 2025
  2. [pdf] Special Note PIP and Solutions
  3. [pdf] Pivotal Select Product at a Glance
  4. [pdf] Pivotal Select Fund Facts
  5. [pdf] Pivotal Solutions Fund Facts
  6. [pdf] Daily/Guaranteed Interest Account - Product at a Glance
  7. Important notice: Funds with Deferred Sales Charges The Canadian Council of Insurance Regulators (CCIR) is requiring all insurance companies to discontinue the sale of segregated funds with deferred sales charges (DSC) effective June 1, 2023. This also impacts ongoing or new deposits to some existing segregated fund accounts. Please contact any Equitable Life clients who may be impacted.
     
    How this impacts clients:
    In response to the insurance regulator’s recommendation, Equitable Life® will be making changes to the administration of certain segregated fund products, which may impact clients. The details are outlined below:
     
    Pivotal Select™ segregated fund product
    On or about May 29, 2023:
    • Funds with DSC or Low Load (LL) sales charge options will be closed to additional deposits. Future deposits must be allocated to the No Load (NL) sales charge option of the funds available within the policy.
    • Any existing amounts held in DSC or LL funds are not impacted and will retain the existing deferred sales charge schedule outlined in a client’s contract. The annual 10% available (20% for RIF policies) for withdrawal without fees continues to apply through to the expiry of the fee schedule.
    • If the default deposit instructions that a client previously provided include funds with DSC or LL sales charge options, these instructions will be automatically updated to the NL sales charge option of the same fund for all future deposits.
    • If a client has pre-authorized scheduled deposits into funds with the DSC or LL sales charge options, these instructions will be automatically updated to the NL sales charge option of the same funds for all future deposits.
    • In alignment with our current administrative rules, if a client has DSC or LL funds, they will not be able to make deposits into No Load Chargeback funds (NLCB and NLCB5) within the same policy.
     
    Legacy segregated fund products
    Ongoing deposits to DSC funds are permitted when a segregated fund product does not have an alternative sales charge option available within the contract. This applies to the following products:
    • Personal Investment Portfolio
    • Pivotal Solutions II
    • Pivotal Solutions DSC
    As a result, clients who own these types of products may continue to make new deposits to the DSC funds within their policy. Any new segregated fund deposits, as well as any existing segregated fund amounts within their policy will retain the deferred sales charge schedule outlined in their contract.

    If a client plans on making additional deposits, they may be interested in alternative sales charge options that do not include DSC. For example, Equitable Life offers “No Load” (NL) and “No Load Chargeback” (NLCB and NLCB5) sales charge options within the Pivotal Select segregated fund contract. In these situations, a new application would need to be completed and submitted.

    Please note that draft regulation in Quebec is currently under review which may impact Equitable Life’s approach for Quebec clients with legacy segregated fund products.

    Equitable Life will continue to monitor provincial regulatory developments and adjust our approach as needed.
     
    Client communication
    We will be sending clients a letter within their December 31, 2022, statement describing their options, and the impacts to their policy (if applicable). We recommend that you contact clients to discuss the contents of Equitable Life’s letter and provide any advice that they may need regarding ongoing deposits to their segregated funds. You can access a copy of the client letter here:

     If you have any questions, please reach out to our Advisor Services Team at 1.866.884.7427.

    December 23, 2022

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

  8. Navigating the current market
  9. Tax impacts of the Canadian Dental Care Plan for your clients

    Tax impacts of the Canadian Dental Care Plan for your clients*


    Earlier this year, the government shared its progress on the Canadian Dental Care Plan (CDCP). 

    The CDCP will be available to Canadians with an annual family income of less than $90,000 who do not have dental benefits. Co-pays will be waived for eligible Canadians with a family income of less than $70,000. 

    Canadians who have access to private dental coverage are not eligible for the CDCP. This means that your clients must now report on T4s/T4As if dental coverage** was available on December 31 of the reporting tax year for:
    • Employees,
    • Employees’ spouses and/or dependents,
    • Former employees, and
    • Spouses of deceased employees.
    **Potential dental coverage includes Health Care Spending Accounts.

    This new tax reporting requirement is mandatory starting with the 2023 tax year. Employee tax slips will include new boxes for employers to complete:
    • Box 45 (T4): Employer Offered Dental Benefits. This new box will be mandatory.
    • Box 015 (T4A): Payer Offered Dental Benefits. This new box will be mandatory if plan sponsors report in Box 016, Pension or Superannuation. The box will otherwise be optional.
    Your clients should complete the boxes using the code system below. They should choose the appropriate code based on whether Dental coverage was available to the plan member – not whether the plan member has chosen to participate in the coverage.  For example, if a plan member has waived coverage or has chosen not to participate in the plan, they would still have access to coverage.
    • Code 1: The plan member has no access to dental care insurance or coverage of dental services of any kind.
    • Code 2: Only the plan member has access to any dental care insurance, or coverage of dental services of any kind.
    • Code 3: The plan member, their spouse and their dependents have access to any dental care insurance, or coverage of dental services of any kind. 
    • Code 4: Only the plan member and their spouse have access to any dental care insurance, or coverage of dental services of any kind. 
    • Code 5: Only the plan member and their dependents have access to any dental care insurance, or coverage of dental services of any kind. 
    Your clients can find further information about completing tax slips for employees on the Canada Revenue Agency’s website:

    Reports for dependents

    We have a report available for plan members who have enrolled their dependents in benefits coverage. Your clients can contact their local service team representative to receive a copy of the report. We are working to make it available on our Advisor and PA websites.
     

    Questions

    For guidance on your tax slips and reporting obligations, please encourage your clients to contact their accountant, payroll provider or tax advisor.
     

    Supporting plan members affected by the Israeli-Palestinian conflict*


    Traumatic events continue to unfold in the Middle East. Enduring ongoing news of conflict and suffering could challenge many Canadians. During this difficult time, Equitable encourages affected clients and plan members to access the mental health support they need. 


    Support available to all Equitable plan members

    Large-scale traumatic news events can cause people to experience intense reactions. This puts a lot of strain on their mental health. Having coping mechanisms to deal with the current crisis can be a huge help. Any Equitable Life plan member who needs mental health support can visit Homeweb.ca/equitable to access online resources or contact Homewood at 1.888.707.2115.  
     

    Support available to plan members with the Homewood Health EFAP

    For your clients that have purchased Homewood Health’s Employee and Family Assistance Program (EFAP), remind them that their plan members also have access to confidential counselling services. The EFAP provides plan members with 24/7 access to confidential counselling through a national network of mental health professionals. Whether it’s face-to-face, by phone, email, chat or video, plan members and their dependent family members will receive appropriate, timely support for the issue they’re dealing with. 
      

    Questions? 

    If you need more information, contact your Group Account Executive or myFlex account executive.

    *Indicates content that will be shared with your clients. 
  10. [pdf] Corporately Owned Segregated Funds