Equitable Life of Canada - Insurance Products
Founded: 1920
  • Term Insurance
    Permanent Insurance
    Participating Insurance
    Universal Insurance
    Critical Illness Insurance

LICAT Ratio 2022
150%
Financial Rating: A

Equitable LogoWhen it comes to protecting your financial future, it's essential to choose a life insurance provider you can trust. Equitable Life of Canada is a leading mutual company that has been serving the needs of Canadians for over a century. With a strong commitment to personalized service, financial stability, and long-term growth, Equitable Life is the ideal choice for individuals and families seeking reliable life insurance solutions.

In this comprehensive guide, we will explore the various insurance options offered by Equitable Life, including Term Insurance, Participating Whole Life Insurance, Universal Life Insurance, and Critical Illness Insurance. We'll delve into the unique features, benefits, and flexible options available in each policy, providing you with the information you need to make an informed decision about your insurance coverage.

So, whether you're looking for affordable temporary protection, lifetime coverage with earnings, tax-advantaged growth, or income protection during recovery from a serious illness, Equitable Life has you covered. Let's dive into the details of each insurance option and discover how Equitable Life can safeguard your financial well-being.

Term Insurance: Temporary, Affordable Protection

Overview of Term Insurance

Term Insurance is an excellent choice for individuals and families who are looking for temporary, affordable protection. With Equitable Life's Term Insurance plans, you can enjoy guaranteed coverage for 10, 20, or 30 years, with premiums that fit within your budget.

Key Benefits of Term Insurance

  • Mortgage Protection: Protect your home and ensure that your loved ones can continue to live in it, even if you're no longer around.
  • Income Replacement: Provide your family with a steady income stream to cover their daily expenses and maintain their quality of life.
  • Funding Education: Secure your children's educational future by setting aside funds for their tuition and other educational expenses.
  • Paying Loans and Expenses: Ease the financial burden on your loved ones by ensuring that any outstanding loans and expenses are taken care of.
  • Business Expenses: Protect your business from financial strain by using term insurance to cover key expenses.

Equitable Life offers customizable Term Insurance plans, allowing you to tailor your coverage to meet your specific needs. You can choose the benefits you want to add to your plan, select who should be insured, and determine the duration of the policy. At the end of the term, you have the option to renew your insurance automatically or switch to permanent protection.

Mortgage Protection with Equitable Life

One of the primary reasons people opt for Term Insurance is to protect their mortgage. While mortgage insurance offered by banks may seem like a convenient option, it's essential to understand that it primarily safeguards the lender's interests. Equitable Life offers a better alternative, providing you with mortgage insurance that prioritizes your needs.

By choosing Equitable Life's term insurance for mortgage protection, you can ensure that your loved ones are not burdened with the responsibility of paying off the mortgage if something were to happen to you. This provides them with the financial security they need to remain in their home and maintain stability during a challenging time.

Explore Your Options with Equitable Life's Term Insurance Plans

Equitable Life understands that every individual's insurance needs are unique. That's why they offer a range of term insurance plans to cater to your specific requirements.

EquiLiving Critical Illness: Comprehensive Protection for Your Life and Health Needs

Equitable Life's EquiLiving Critical Illness insurance is designed to provide you with a lump sum benefit if you are diagnosed with a serious illness or injury covered by the plan. This money can be used to cover various costs during your recovery, such as your mortgage, business expenses, childcare, or additional treatments not covered by government plans.

With coverage for 26 illnesses, 8 early detection illnesses, and 5 additional childhood illnesses, EquiLiving Critical Illness insurance offers comprehensive protection for you and your family's well-being. By bundling EquiLiving with term, whole life, or universal life insurance plans, you can create a single, streamlined policy that meets all your life and health needs.

Cloud DX: State-of-the-Art Monitoring for Your Recovery

When you choose EquiLiving Critical Illness insurance, you also gain access to Cloud DX's Connected Health™ service. This innovative digital health platform offers six months of free monitoring of your vital signs if your claim is approved. The service includes a Connected Health™ kit with medical-grade clinical devices like a blood pressure cuff, oximeter, thermometer, and weight scale. These devices connect to the Cloud DX app, allowing a healthcare team to monitor your health remotely and provide support as needed.

With app notifications, regular check-ins with your healthcare team, and the ability to communicate via text, call, or live video chats, Cloud DX's Connected Health™ service ensures that you receive the care and attention you need during your recovery.

Please note that the availability of Cloud DX's service is not guaranteed and can be withdrawn or changed by Equitable Life at any time. The service does not include claims for the Early Detection Benefit.

Participating Whole Life Insurance: Value, Choice, Flexibility

Overview of Participating Whole Life Insurance

Participating Whole Life Insurance offered by Equitable Life provides you with lifetime protection and the opportunity to earn dividends. With guaranteed premiums, cash values, and death benefits tailored to your needs, participating whole life insurance helps you secure your loved one's financial future, grow your wealth, and protect what matters most.

Protect Your Child's Future with Participating Whole Life Insurance

Investing in your child's future is a priority for many parents. Equitable Life's Participating Whole Life Insurance allows you to give your child a head start on their financial journey. By purchasing a policy for your child or grandchild, you can build cash value over time, which they can access in the future if needed. This money can be used for education expenses, down payments, or other financial needs. When the child reaches the age of majority, the policy ownership can be transferred to them tax-free, providing them with a strong foundation for their own financial planning.

To learn more about how Equitable Life's Participating Whole Life Insurance can give your child a head start for tomorrow, contact us today.

Equimax Plans: Flexibility and Choice

Equitable Life's Equimax participating whole life insurance offers a range of options to suit your specific needs. Whether you want to create an estate plan, protect your accumulated wealth, cover expenses like taxes or debts, or grow your wealth for unexpected expenses or additional retirement income, Equimax has a plan for you.

Equimax Estate Builder®: Long-Term Value and Estate Transfer

Equimax Estate Builder is an ideal choice if you're looking for higher long-term value and want to create an estate transfer plan. With premiums payable for life, 20 years, or 10 years, this plan provides you with peace of mind knowing that your loved ones will be taken care of after you're gone.

To view the Equimax Estate Builder playbook and learn more about this plan, contact us today.

Equimax Wealth Accumulator®: Early Cash Values and Business Protection

If you're seeking higher early cash values and want to protect your business, Equimax Wealth Accumulator is the perfect choice. With premiums payable for life or 20 years, this plan allows you to build cash value quickly and provides the flexibility to protect your business from unforeseen circumstances.

To view the Equimax Wealth Accumulator playbook and explore this plan further, contact us today.

By customizing your participating whole life insurance plan with added benefits, such as EquiLiving Critical Illness and Flexible Guaranteed Insurability Option for child plans, you can create a comprehensive policy that meets all your life and health needs in one simple package.

Dividends: Participate in the Earnings

One of the significant advantages of participating whole life insurance is the opportunity to receive dividends. As a participating policyholder with Equitable Life, you have the chance to participate in the earnings of the participating account through dividend payments. Dividends are not guaranteed and are paid at the sole discretion of the Board of Directors. The amount of dividends can vary based on the actual investment returns in the participating account, mortality, expenses, lapse, claims experience, taxes, and other factors.

Equitable Life has a long history of sharing success with policyholders through dividend payments. As a mutual company, they are not driven by shareholder pressures for quarterly results, allowing them to focus on strategies that foster long-term growth, stability, and continuity. This commitment to their policyholders' well-being is reflected in their exceptional customer service, as evidenced by their top-ranking Net Promoter Score in a 2019 survey of customers from 15 life insurance companies.

Universal Life Insurance: Permanent, Affordable Protection with Tax-Advantaged Growth

Overview of Universal Life Insurance

Universal Life Insurance from Equitable Life offers permanent, affordable protection with the added benefit of tax-advantaged growth. This flexible insurance solution allows you to choose the death benefit, premium payment structure, and investment options that align with your needs and financial goals.

The Benefits of Universal Life Insurance

Universal Life Insurance serves multiple purposes, providing coverage for your mortgage, funding your children's education, and acting as a source of cash when you need it. With Equitable Life's Universal Life Insurance plans, you can enjoy the peace of mind that comes with knowing your loved ones are protected, while also having the potential to grow your policy's cash value over time.

Equitable Generations™: A Universal Life Plan that Fits Your Needs

Equitable Generations™ is a comprehensive Universal Life plan offered by Equitable Life. This plan is designed to provide you with competitive pricing, modern investment options, and caring claims support. With Equitable Generations™, you have the flexibility to customize your coverage and investment strategy to suit your unique needs and financial goals.

Modern Investment Options for Growth

Equitable Generations™ offers a wide range of investment options to help you grow your policy's cash value. Whether you're looking for traditional investment options or options that apply Environmental, Social, and Governance (ESG) principles, Equitable Life has you covered.

To explore the rates and performance of Equitable Generations™ investment options, contact us today.

Find the Best Universal Life Plan for You

Choosing the right Universal Life plan is essential to ensure it aligns with your financial goals and risk tolerance. Equitable Life provides a Universal Life Investor Profiler Questionnaire that can help you determine which investment options are best suited for you. Discussing your unique needs and preferences with one of our advisors will allow you to make an informed decision and select a plan that fits your requirements.

Why Choose Equitable Life?

Equitable Life of Canada stands out as a trusted life insurance provider for several reasons. As a mutual company, Equitable Life is not driven by shareholder pressures and can focus on long-term growth, stability, and continuity. Their dedication to meeting their commitments to customers is evident in their exceptional customer service, as reflected in their top-ranking Net Promoter Score in a 2019 survey.

With Equitable Life, you can trust that your financial future is in good hands. Their commitment to personalized service, financial security, and well-being sets them apart from other life insurance providers. Whether you're looking for term insurance, participating whole life insurance, universal life insurance, or critical illness insurance, Equitable Life has the expertise and solutions to meet your needs.

Conclusion

Equitable Life of Canada is your trusted partner for life insurance solutions in Ontario. With a wide range of customizable insurance options, including Term Insurance, Participating Whole Life Insurance, Universal Life Insurance, and Critical Illness Insurance, Equitable Life has the coverage you need to protect your financial future.

Whether you're looking for temporary, affordable protection, lifetime coverage with earnings, tax-advantaged growth, or income protection during recovery from a serious illness, Equitable Life's insurance solutions are designed to meet your unique needs. With a commitment to personalized service, financial stability, and long-term growth, Equitable Life is the ideal choice for individuals and families seeking reliable life insurance solutions.

Speak with one of our advisors today to explore the insurance options available to you and secure your financial future with Equitable Life of Canada.