Low Load: Now available on Pivotal Select ( français )
Equitable Life® is pleased to announce that Pivotal Select segregated funds are now available in a range of sales charge options, including the DSC option, No Load option, and thenewly launched Low Load option.
By offering the choice of three sales charge options, as well as the choice between three distinct guarantee classes (Investment Class (75/75), Estate Class (75/100) and Protection Class (100/100)), and a diverse selection of investment funds, the Pivotal Select contract provides the flexibility to build an investment solution that meets the needs of investors and advisors alike.
Low Load option information:
• Effective January 18th, 2016 units within the Low Load option can be purchased in a new or existing Pivotal Select contract.
• Existing Pivotal Select clients will be notified in their December 31st, 2015 statement that the Low Load option has been made available within their contract, and will be provided with a link to the contract addendum. As a result, advisors are not required to provide existing Pivotal Select clients with additional documentation when purchasing units in the Low Load option.
• Based on our administrative rules, units in the Low Load option and DSC option may not be held within the same contract. We will continue to allow units in the DSC option and No Load option to be combined in the same contract. We will also allow units in the Low Load option and No Load option to be combined within the same contract.
• The updated Pivotal Select application (1383/1384), Contract and Information Folder (1403), Fund Facts (1366), and Pivotal Select Advisor Guide (1403) can be ordered through our supply department by completing the Savings & Retirement Supply Order Form (form #1391). All of these documents can also be accessed through EquiNet, our advisor website.
• Withdrawals made from the Low Load option are subject to a deferred sales charge based on the following schedule:
- Year 1: 3%
- Year 2: 2.5%
- Year 3: 2%
- Year 4: 0%
• The Low Load option provides the advisor with an upfront commission, as well as an escalating trailer commission.
® denotes a trademark of The Equitable Life Insurance Company of Canada.