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Equitable Life, a mutual life insurance company based in Waterloo, Ont., is launching an online application tool, EZcomplete, for segregated funds.

Tool features include step-by-step instructions to ensure advisors provide correct details, and immediate processing by Equitable Life staff, says a release.

Response to the tool has been positive, said Judy Williams, vice-president of savings and retirement at Equitable Life, in the release, with most life and critical illness applications now received electronically.