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  1. Equitable Life Webcast Series featuring Equitable Life Dynamic Asia Pacific Equity Fund Select


    Benjamin Zhan and Bruce Zhang will discuss the Equitable Life Dynamic Asia Pacific Equity Fund Select along with the fund's people, philosophy, process and performance. 

    Equitable Life® continues to spotlight various aspects of our competitive fund lineup and product offerings. This series gives advisors an opportunity to:
    •  learn more about products and product features,
    •  hear from industry professionals,
    •  learn about investment strategies; and so much more.

    Join your host, Joseph Trozzo, Investment Sales Vice President, MGA, Equitable Life of Canada along with Dynamic Funds. 

     

    Learn More

    speakers.jpg



    Continuing Education Credits
    This webinar has been submitted for continuing education (CE) approval with the Insurance Council of Manitoba and Alberta Insurance Council for all provinces excluding Quebec. Upon approval, you will be sent an email notification to come back to the webinar presentation console to download your personalized certificate from the tool bar. To be eligible for CE credits, you must register individually, watch the webcast in full and complete a short quiz. This webcast is available in English only.

    ® denote a registered trademark of The Equitable Life Insurance Company of Canada
    Posted May 31, 2023
  2. Updates to Savings & Retirement applications and point of sale materials

    Equitable Life has updated the following Savings & Retirement point of sale materials.

     

    Form #

    Form Name

    Description

    2086

    Pivotal Select FHSA Application

    New application to support the First Home Savings Account (FHSA) registration option

    1403

    Pivotal Select Contract & Information Folder

    Updates have been made to support the new First Home Savings Account (FHSA) registration option

    796

    Guaranteed Interest Account TFSA Application

    Updates have been made throughout the application to make it simpler and more straightforward. Additionally, a new “Privacy Consent” section has been added.

    799

    Guaranteed Interest Account Registered / Non-Registered

     
    The new documents are available to download from EquiNet®. Paper documents are also available to order from Equitable’s Supply Team here.

    To allow advisors time to transition to the new applications, we will continue to accept the following versions until further notice:

    If you have any questions, contact your Regional Investment Sales Manager or Advisors Services Team Monday to Friday, 8:30 a.m. – 7:30 p.m. ET at 1.866.884.7427, or email savingsretirement@equitable.ca.

     

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

     Posted September 11, 2023
  3. Flexibility for a client’s ever-changing life

    Term life insurance offers full and partial conversion options to meet changing needs


    Life is always changing—whether a client is buying their first home, welcoming a new baby, or sending the kids off to college. While most clients think of term life insurance as a solution to meet a temporary need, they don’t necessarily consider the power of term conversion options to meet their future needs. 

    Full and partial conversion options can help meet a client’s needs as their life journey and insurance needs change, without having to provide proof of continued good health. 

    Full conversion:
    •    With full conversion, clients can convert all of their term coverage from their policy or rider to permanent life insurance. This allows the client to lock in a level premium rate for life.




    Partial conversion:
    •    With a partial conversion, clients can convert a portion of their term coverage from their policy or rider to a permanent plan. This allows them to help cover off both a short-term need and also provides lifetime protection.

    Did you know?
    Our partial conversion with a term rider carryover is now more flexible than ever. Read more about it here!

    For more information, please consult the Equitable Term Life insurance admin guide.

  4. Open doors with our updated CI & UL solutions! Have you heard the news? On October 8th, we rolled out several updates to our competitive Equitable® product lineup—including our Critical Illness (CI) and Universal Life (UL) plans. 

    These updates are all about cost savings for clients and helping advisors like you grow your business. And the response has been fantastic!


    What’s new for CI and UL?

    1. Lower monthly costs for new EquiLiving® critical illness (CI) policies paid monthly – hello savings!

    •    The monthly modal factor for CI decreased from 0.09 to 0.0867.
    •        The monthly policy fee decreased from $4.50 to $4.34.

    *Note:  EquiLiving premium rates and annual policy fees have not changed. 

    2. Lower monthly costs for UL policies with CI riders added – now it’s more affordable to add CI coverage when selling UL!



    Commissions got a makeover too

    Good news! Commissions on Term and EquiLiving CI policies are now calculated based on the total premium paid for the policy year—even if clients opt for monthly payments. No more annual premium commission calculations!

    Learn more! 

    Questions? Contact your Equitable wholesaler for all the details.

    Cheers to savings and growing your business with Equitable!





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

  5. Investment Calculators
  6. 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.

  7. [pdf] Special Note PIP and Solutions
  8. Excelerator Deposit Option – maximum payment limit changes

    The Excelerator Deposit Option (EDO) gives your client the option to make additional payments, subject to specified limits and our current administrative rules and guidelines, above the required guaranteed policy premium. EDO payments can help grow the long-term values in your client’s policy.  This change is regarding the maximum EDO payment limit that applies to the policy.
     
    For Equimax policies with an Owner Signature Date of June 26, 2021 or after where a term rider has increased the maximum EDO payment limit on the policy

    ● NEW! If a request is received to terminate, convert, or reduce the term rider and the term rider has been in effect for 10 years or longer, the EDO maximum for the policy will not be reduced.
    ● If a request is received to terminate, convert, or reduce the term rider and the term rider has been in effect for less than 10 years (it has not reached the 10th policy anniversary), the EDO maximum for the policy will be reduced accordingly.

    Current rules as to when underwriting is required for EDO payments continue to apply, as do current rules surrounding acceptance of EDO payments and maintaining the tax-exempt status of the policy and can be found in the Equimax Product Admin Guide.

    Want more information?  Contact your Regional Sales Manager for more information on these changes
     
  9. Universal Life Product Fund Changes In September 2022, we will be changing the underlying securities being tracked for several universal life funds, listed below.*  These changes apply to our current Equation Generation IV universal life insurance product and to any legacy products that offer these same UL funds.

    If your client would like to transfer money currently invested in any of the above UL funds to a different UL fund and/or change the investment option for their future deposits, please submit a request well in advance of September 2022 using form 693UL.

    Please contact your Equitable Life® Regional Sales Manager for more information. 
     
    UL Fund Currently Tracked Upcoming Change*
    European DJ Euro STOXX 50 Total Return Index STOXX Europe 600 Paris-Aligned Index (ESG)
    Canadian Bond Sun Life MFS Canadian Bond Equitable Life Active Canadian Bond Fund Internal Linked
    Global Fixed Income Mackenzie Global Tactical Bond Invesco Global Bond
    Canadian Value Stock Mackenzie Cundill Canadian Security Franklin Bissett Canadian Equity
    Large Cap Canadian Equity Mackenzie Ivy Canadian Dynamic Equity Income
    Global Balanced Templeton Global Balanced Mackenzie Ivy Global Balanced

    *Underlying security changes will occur in September 2022. Exact effective date has not yet been determined.
     
  10. Clients looking to add a little balance and diversification to their investment mix?

    An Equitable® Guaranteed Interest Account (GIA) may be just the right fit for them. With competitive interest rates, Equitable GIAs may be an ideal solution for clients looking to create a well-diversified and balanced portfolio.

    A few reasons to consider Equitable for your GIA business:

    • •  The GIA advantage – a life insurance contract can provide many estate planning benefits.

    • •  Advisor rate discretion – advisors can forego up to 40bps of commission for an equal increase in interest rate, making our great rates even better.

    • •  Step Up Your Wealth Sales program1 – 100% of GIA net deposits are used to calculate the 0.75% bonus commission earned on net deposits for 20242.

     

    Bookmark this page to check our current rates.

     

    For more information, please contact your Director, Investment Sales.

     

    1 Equitable reserves the right to alter or terminate this program at any time and without notice.

    2 All eligible deposits, sales, and redemptions occurring between January 1 and December 31, 2024, will be used to calculate an advisor’s 2024 net deposits. See full Step Up Your Wealth Sales program details for more information.

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

    Date posted: May 9, 2024