Checklist & Payments - Application To Equitable
Define Goals and Review Client Information
Online Application
- Purpose
- Legato 1/2/3
- Legato Client Information form
- Driver's License (Box) and SIN
Online Application
- EZComplete
- Corporate Owner:
- #594 - Business Information form
- #2004 - Signing Authorities certificate
- Canada's Business Registration
- Large app: #1027 AML form
- Replacement: LIRD form
- Upload forms
- Sign and submit
Accepted Payment Methods for Equitable Life
Payment Methods
Equitable Life of Canada offers clients the opportunity to pay their premiums annually or via monthly pre-authorized payments.
If the client chooses to pay via monthly pre-authorized payments, a PAD form is required along with the banking information that the payments are to be drawn from. Form 378 The banking information must include the 3 digit bank number, 5 digit transit number and the associated account number.
All payments submitted must include a policy number.
If a loan repayment is submitted, Equitable Life must be provided with these instructions.
The default order for applying payments that do not include instructions are as follows:
The following payment methods are available for annual premium payments, lump sum UL deposits or loan repayments.
Online Banking: Accepted
Starter/Counter Cheque: Accepted
Money Orders & Bank Drafts: Accepted
Cash: Not Accepted
Cheque: Accepted
*Acceptable source of fund documentation includes the bank account-holder’s name, date the item in question was issued and amount. Please see below for examples:
Payment Methods
Equitable Life of Canada offers clients the opportunity to pay their premiums annually or via monthly pre-authorized payments.
If the client chooses to pay via monthly pre-authorized payments, a PAD form is required along with the banking information that the payments are to be drawn from. Form 378 The banking information must include the 3 digit bank number, 5 digit transit number and the associated account number.
All payments submitted must include a policy number.
If a loan repayment is submitted, Equitable Life must be provided with these instructions.
The default order for applying payments that do not include instructions are as follows:
- Premium/UL Deposit
- Cash Loan
- APL
The following payment methods are available for annual premium payments, lump sum UL deposits or loan repayments.
Online Banking: Accepted
- Payments must be made separately for each policy.
- The payment must include the policy number.
Starter/Counter Cheque: Accepted
- Bank account-holder’s name must be indicated on the cheque.
Money Orders & Bank Drafts: Accepted
- *Source of funds must be provided with payment.
Cash: Not Accepted
Cheque: Accepted
- Must be payable to Equitable Life and completed correctly/completely.
*Acceptable source of fund documentation includes the bank account-holder’s name, date the item in question was issued and amount. Please see below for examples:
- A letter from the bank on their letterhead
- A copy of the bank statement
- All payments that are made to a policy by anyone other than the owner or the insured, must be accompanied by a completed Third Party form. Form 31
- Payments of $100,000 or more that are made from an individual’s account must be accompanied by a completed Additional/Updated Customer Information form. Form 1027
- Scotiabank line of credit accounts (11 digit account numbers) are not accepted for monthly pre-authorized payments.
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