Intro to Equitable Life:

Product Highlights &

Jennifer Engman, BA

Regional Life Sales ManagerAIC# 30523 and AIC# 18701 for 1.00 life credits & .25 A&S credits

Highlights &Sweet Spots

• Equitable Life is the largest federally regulated mutual life insurance company in Canada.

• Our participating whole life policyholders

Why Equitable Life?

• Our participating whole life policyholders have received dividends every year since we launched participating whole life in 1936.

• Equitable Life is a focused, stable and strong company

Why Equitable Life?

• Competitive, Diversified Product Shelf:

– Equimax Whole Life – 2 types

– Equiliving CI – Adult and Child– Equiliving CI – Adult and Child

– Term Insurance – 10/20 year RCT

– Universal Life – traditional and limited pay

Why Equitable Life?

• Superior Service:

- shortest submission to commission timelines

- direct access to underwriters

- local service support via Regional Service Rep in Calgary.

- local Regional Sales Managers

Did you know?

Product, policy service & underwriting

Underwriting

• indnewbus@equitable.ca prelim inquiries

• Questionnaires may speed up underwriting and prevent an APS

Adobe Acrobat

Document

Adobe Acrobat

Document

Underwriting Guide

Preferred UW Guide

Adobe Acrobat

Document

Travel Questionnaire, Respiratory etc

Travel

Adobe Acrobat

Document

Travel

Both Hawaii & Mexico are considered part of North America for the travel question

Travel Declines

• Missionary

• Military

• Peace-keeping• Peace-keeping

• Diplomacy

• Journalism

• Foreign aid

www.travel.gc.ca

Travel

Equinet Advisor Website

• Over 80% of the site is viewable without a username and password.

• Find marketing materials, advisor guides, administration guide, sales tools, sales concepts, sample contract policy pages, FAQ concepts, sample contract policy pages, FAQ pages, on-line needs analysis tools and fund rates and performance.

• When logged in you can view your new business pending report or your entire Equitable book of business.

1. What is Mobile EquiNet

2. Devices Supported

3. How do I Access?

Mobile Equinet (NB Pending)

3. How do I Access?

4. Rollout and Support Available

5. Q&A

Mobile Equinet – Life New Business Pending InquiryEasy access to Equinet's New Business Inquiry from your Smartphone or Tablet.

• Formatted for Smartphone screens

Mobile Equinet

• Formatted for Smartphone screens

• No new passwords to remember

• Available anywhere the internet is

• Link on Equinet (Online tools & info)

https://advisor.equitable.ca/mobile/

• IPhone

• Android

• Playbook

• Blackberry, Bolds, Torch views better with O/S

Devices Tested

• Blackberry, Bolds, Torch views better with O/S

5 or newer

• Blackberry Curve views better with O/S 6

Equinet

Mobile Equinet

It’s this easy…..

Change to Non Smoker

• Policy change form and saliva for life insurance

• If Critical Illness insurance = urine

Juvenile CI:Smoker/Non-Smoker Smoker/NonSSSmoker Smoker

• Issue Ages 30d –17 years:• •Rates set as non-smoker, but loaded as smoker on the

system• •Declaration sent on the anniversary following 16th, 17th and

18th birthday• •Declaration sent on the anniversary following 16th, 17 and

18th birthday• •The insured has up to 60 days after the anniversary following

age 18 to return the form• •If form is not returned: Premiums will increase to smoker rate

on anniversary nearest age 18• •If form is returned: Premiums remain the same

Built-in Benefits: CI

Early Detection Benefit Payment

– Paid as a lump sum

– Requires satisfaction of survival period (30days)

– Diagnosis of an Early Detection Benefit covered condition as defined in contract required

– Early Stage Prostate, DCIS, Superficial Malignant Skin Cancer, Coronary Angioplasty

less than or equal to 1.0 mm in depth

Built-in Benefits: CI

Early Detection Benefit

– Amount payable is equal to the lesser of:

• 15% of the current Sum Insured to a maximum of $50,000$50,000

• It can be paid twice during the lifetime of a policy but only once for any one Early Detection Benefit covered condition.

Loss of Independent Existence

- is a covered condition

Best Doctors®

Client access to Best Doctors®

initiated at claim time

– Client is given toll-free Best Doctors® telephone numberDoctors® telephone number

– Client simply makes the call to access the service

– Access to Best Doctors® applies, even if claim is denied

InterConsultation™ Service

• Assists client & treating physician in submitting necessary medical information

• In-depth review of client’s medical file by experts

• Creates profile of key issues• Creates profile of key issues

• Findings and recommendations documented in a report to client and treating physician

FindBestDoc™ Service

• Customized search of specialist(s) made from Best Doctors® database

• 3 leading physicians identified; Best Doctors®

determines availabilitydetermines availability

• Client receives report listing physicians

• Client selects physician, Best Doctors® coordinates arrangements

FindBestCare® Service

• Recommendation of facilities and cost estimates provided

• Coordination of appointments and travel arrangements arrangements

• Client contacted in preparation for medical appointment(s)

• Best Doctors® monitors and coordinates client’s care delivery

Other features

Non-Smoker Definition:

– the Person Insured has not used any tobacco, nicotine, or marijuana products in the twelve (12) months preceding the application for this Policy. months preceding the application for this Policy. Up to one cigar or cigarillo is permitted per month, subject to a negative cotinine test.

– Rescission right now 10 days

Older Issue Ages

• Critical illness insurance = Age 65

– T10 and Permanent to Age 100

• Term 20 Life Insurance = Age 65

• And T10 Life issue age maximum 75

Rescission Right

• 10 days all products including Equimax Whole Life

• Re-launched in Feb 2012

• Now 2 kinds: Wealth Accumulator or Estate Builder

• Two ways to pay: Life Pay or 20 Pay

Enhancements to Equimax

• Adult or Child coverage available

• Increased flexibility on Excelerator Deposit Option (EDO)

• EDO available on substandard ratings up to 200%

• No additional evidence required if policy owner:

– Skips up to 2 years of EDO payments

Increased flexibility on EDO

– Adds EDO within 12 months of policy issue

– Increases EDO payment amount within 12 months of issue (within maximum tax exempt

room limits)

– 4.0% commission

Term Life Upsell

CI Special Offer

- If your clients are 50 or under and qualify for a preferred risk class on term coverage, they will be automatically underwritten for CI. underwritten for CI.

- If they qualify, their term approval notice will be accompanied by an offer to purchase CI in an amount equal to 25% of the amount of their term coverage to a maximum of $250K.

Term U/W Classifications

• Preferred u/w is available for face amounts of $250K+ (including riders)

-Class 1 – Preferred Plus N/S-Class 1 – Preferred Plus N/S

-Class 2 - Preferred N/S

-Class 3 - Standard Non-Smoker

-Class 4 – Preferred Smoker

-Class 5 - Standard Smoker

Effective June 29, 2009:

• All 10YRCT coverages issued after July 14, 2008 are eligible to exchange their T10 coverage to a T20 coverage with no medical evidence!

T10 to T20 Exchange Option

medical evidence!

• Allowed after: 1st coverage anniversary but

• Before 5th coverage anniversary or until insured reaches age 65 (on joint when oldest

insured reaches 65)

• New T20 plan is based on:

– 20 YRCT rates in effect at the time of the changechange

– Insured person’s age nearest the new coverage date

– Any insurance ratings on original 10 YRCT

AgePremium*

1st Years 1-10

T10 renewal premium Years

11-20

T10 renewal premium years

20-25

T20 Premium

5th anniv.

Years 1-20

Total Savings over 25 year

period

40 $34 $248 $614 $95 $45,807

Male, Class 3 (standard non-smoking risk), $500,000 Face amount

Exchange Option Example

40 $34 $248 $614 $95 $45,807

•All premiums quoted are monthly PAC and rounded to nearest dollar based as at November 2011

At age 45 locks in great new monthly rate for a new 20 year period!

Competitive compensation on exchanges:

– FYC: 25% on base T20 premium upon

exchange

Commission on Exchanges

exchange

– Riders carried over from T10 to T20 get

renewal premium but no FYC

– No chargeback on original T10

Commission Differences

• Term 10 $380 x 40% $190 FYC

• Rewrite 45 $570 x 40% $228 FYC

• Term 20 $670 x 45% $302 FYC

• T10 $380 x 40% $190 FYC

• Exchange $1,055 x 25 $264 FYC

$500K T10 Male 40 NS at Nov 2011

Term Conversions

• Convert 50% of the Term life insurance

• Remaining Term can be moved to new permanent plan, current age and rates, permanent plan, current age and rates, starts term period from year 1 again, no underwriting

Waiver definitions

• 2 year regular occupation definition

• Then “any occ” definition

• No gainful employment• No gainful employment

Conversion if on WP

• If disability occurs prior to age 60 and still disabled at age 65, the Term policy or rider will automatically convert to a or rider will automatically convert to a permanent insurance policy

Illustrations

• Add Calc Sales concepts

• UL alternate investment scenario

• WL/UL Multiple Scenario availability to • WL/UL Multiple Scenario availability to show how the different options impact the policy.

• Ability to customize report to your preference (ie: show IRR’s etc)

Why a mutual company?

New Client Brochure #1164 (PDF only)

DeMutualization #s

• Sun Life 2000 $1.20 billion

• Manulife 1999 $2.50 billion

• Prudential 2001 $3.025 billion

• MetLife 2000 $7.04 billion

• 55,000 conference credits

• 7 settled cases

San Francisco

• June 2-5, 2013

Annual Leader’s Conference

• June 2-5, 2013

DisclaimerThis presentation is for educational purposes only. It should not be construed as legal, tax or accounting advice.

Equitable Life has made every effort to ensure the accuracy of this presentation, however accuracy is not guaranteed. If the information presented here differs from that contained in any Equitable Life policy contract, the policy contract prevails in all cases.

If this presentation contains competitive information, we've made every effort to ensure its accuracy as of the date of the original oral presentation. We cannot, If this presentation contains competitive information, we've made every effort to ensure its accuracy as of the date of the original oral presentation. We cannot, however, guarantee the accuracy and, if you have any questions regarding this information, you should contact the competitor directly.

® denotes a trademark of The Equitable Life Insurance Company of Canada. Reproduction or redistribution of this presentation, in whole or in part, without permission from Equitable Life is forbidden.

© 2012 The Equitable Life Insurance Company of Canada. All Rights Reserved.

Questions?Questions?