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LEGATO WEALTH MANAGEMENT
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Checklist & Payments - Application To Equitable
​Define Goals and Review Client Information
  • 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:
  1. Premium/UL Deposit
  2. Cash Loan
  3. 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
Important Notes
  • 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.
Copyright 2022 - Legato Wealth Management Inc.

Copyright 2023- Legato Wealth Management Inc. 

  • Home
  • About
    • Mission & Principles
    • Our People
    • Strategic Relationships
    • Community
    • Learning & Connecting
    • Contact
    • Meeting Legato >
      • Meeting Checklists
      • Parking
      • Review Online
  • Solutions
    • Invest For Succession
    • Legato "Fund" for Estate Freeze
    • My PAR Gift
    • Philanthropy
    • Creating & Distributing Wealth
    • Legato Plans
    • Steps to Legato1
    • Policy Search
    • Will Search
  • Articles
    • The Pair: Estate Freeze & Legato Plan V2
    • 70 Years and 214 Days
    • Tax Apportionment in Estate Planning
    • Beneficiary Designations and Resulting Trusts Revisited
    • Reviewing A Shareholder's Agreement
    • Part 1: Legacy Gifting Private Company Shares
    • Part 2: Legacy Gifting Private Company Shares
    • Life Insurance As Fixed Income Plus
    • Smooth Transitions
    • Reduce Estate Shrinkage
    • Take Time For Your Legacy
    • Protect Your GrandChildren
    • Another Asset Class
    • Take Five
    • Inheritance & Taxation
    • Cash Me If You Can
    • Think Wider
    • Succession Planning
    • Legato 3
    • Retirement Income
    • Look Across
    • Lest We Forget
    • Partners In Search For A Cure