Special Temporary Life Insurance Agreement (TIA) for up to $10,000,000 for Equimax® participating whole life policy applications
For a limited time, Equitable Life has increased the amount of temporary life insurance coverage provided under the Temporary Life Insurance Agreement (TIA) on new Equimax participating whole life insurance applications to include face amounts up to $10,000,000. The person(s) insured will be eligible for up to $10,000,000 of temporary life insurance coverage if all of the following conditions have been satisfied:
- all questions in the Temporary Life Insurance Request have been answered "NO" by the person(s) to be insured; and
- payment of at least one-twelfth of the annual premium for the life insurance applied for on the application has been submitted with the application; and
- the payment has gone through successfully when first presented for payment; and
- the policy applied for in the application is an Equimax whole life policy; and
- The application is received by us at our Waterloo, Ontario Head Office no later than December 31, 2016.
The special up to $10 million Temporary Life Insurance Agreement has been posted to EquiNet® under Forms. If you are submitting an Equimax application with a face amount of over $1 million where your clients have completed the Temporary Life Insurance Request and qualify for temporary life insurance, please ensure that you print the Agreement and leave a copy with your clients at the time they complete their application.
For clients who apply for Equimax with a face amount of $1,000,000 or less, and request and qualify for temporary life insurance, the regular up to $1,000,000 Temporary Life Insurance Agreement will apply.
Please do not use the special up to $10 million Temporary Life Insurance Agreement for:
- Equimax applications that we will receive at our Waterloo, Ontario Head Office after December 31, 2016; or
- Applications for all other types of policies.
(published December 8, 2016)