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- [pdf] Building a stronger investment portfolio with participating whole life
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On June 26, 2021 make room for more EDO room
Effective June 26, 2021, a term rider added to an Equimax Estate Builder® or Equimax Wealth Accumulator® policy may allow for an increase to the maximum Excelerator Deposit Option (EDO) payment limit.
Your clients who have a temporary insurance need and add a term rider to their Equimax plan may be able to take advantage of the additional exempt room and higher EDO payment limits to build the policy values. Make Equimax® your first choice for your clients’ whole life insurance needs.
Want more information?
Learn more about the changes and transition rules.
Contact your Regional Sales Manager for more information on these changes and other sales ideas.
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Reminder: Review and Manage Key Notifications on EquiNet
Supporting your business as an Equitable Life advisor is our top priority and EquiNet is our top resource to help you manage important policy notifications. You should routinely review policy updates, schedules, statements, and notices and follow up with clients.
Some key notifications you will find on EquiNet include:
- Premium Renewal Notices (including for Term Riders on UL policies)
- Returned PAC (Pre-Authorized Chequing) Letters
- SROs (Special Reinstatement Offer)
- Lapse Notices
- APL Warning Letters
- FGIO Notices
- Tax Exempt Notices
A review of these and other available documents under the Document Lookup tool and following up with clients will help prevent situations of policy lapses and missed renewal notifications. These documents should be managed as part of providing ongoing, superior customer service to our clients. -
Simpler juvenile policy approvals
A win for you and clients
Get insurance protection in place more quickly for kid’s policies with an enhanced juvenile underwriting model. It’s an industry-leading predictive model that extends existing auto-assess capabilities for your juvenile applications.
What does this mean for you?
You will notice reduced wait times as clients get the protection they need faster. And you will receive your commission quicker as well. This gives both you and your Equitable® underwriter time to focus on supporting your complex cases to bring you our best offer. The new auto-approval model for juvenile policies is a win for all.
Give us a try!
See for yourself how we can help you get protection in place for clients quickly.
Contact your Equitable wholesaler for more information.
® or TM denote trademarks of The Equitable Life Insurance Company of Canada. -
COVID-19 Vaccinations and your Equitable Life of Canada Insurance Coverage
Equitable Life of Canada would like to reassure our policyholders that getting vaccinated for COVID-19 will not negatively impact your life or health insurance coverage.
Being vaccinated for COVID-19 would have no impact on any claim made under an insurance policy or group benefits plan with Equitable Life of Canada. Your Equitable Life policies provide life and health insurance based on the conditions outlined in your contract with us. Our contracts do not include limitations related to adverse reactions to vaccines.
Equitable Life will continue to follow the guidance and recommendations from the Canadian government to protect the health of Canadians, and we fully support government-approved vaccines as one of the most effective ways to protect yourself from serious illness or death from COVID-19. -
Manage more details within Contract Delivery for New Business applications
We are excited to announce further enhancements to our eDelivery process to empower you, the advisor, the ability to manage client details more easily within Contract Delivery.
Effective January 15, 2022, advisors will need to create a Password within Contract Delivery when choosing “eDelivery” as the contract delivery method and provide the password to the client to use as their password:
The Password must be between 4 and 100 alpha/numeric characters, and cannot be the Policy number. For multiple signers the password (and email address) must be unique per each signer.
Advisors can now edit and/or update an email address within Contract Delivery, in the event of a bounce back or email change, to keep the eDelivery process moving and avoid delays in processing time. If a lock out occurs, advisors can trigger a resend of the signing email once they add a new valid email address in Contract Delivery. Simply click the pencil icon beside the Email field to enter the valid email address:
Another new feature- in the event a client has declined, the advisor will get an email from Equitable Life®. Click through to EquiNet® within the email to view the message within Contract Delivery that the client provided as the reason for decline under a new “Declined Details” section. This enables you to connect with the client to proceed with the sale by discussing the reasons for decline with them directly.
Also new for clients with this enhancement, policy owners of a policy created after January 15 will be able to see a PDF copy of their policy within client access. Note: this PDF copy is as the policy was originally issued.
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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.