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Equitable Life health insurance plan

Learn about Equitable Life Health Insurance Plan

Equitable Life Insurance is a financially solid mutual company, established in 1920. The company is committed to providing financial security to its wide range of customers. Equitable life is one of the largest mutual companies in Canada; it has reached and exceeded several milestones. In 2017, the company realized record earnings of $106 million which was an increase of 33% over its last year of $80 million net income. The successes recorded so far by Equitable Life can be attributed to its strong growth and a conservative approach to investment. The company has about $1.2 billion in premiums and deposits and exceeded $4.1 billion of assets under management.

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What Does Equitable Life Group Benefit Cover?

Equitable Life meets the needs of their plan members and administrators by working in partnership with their clients through the network of their independent advisors.

It offers several services and products under the group insurance. These include:

  • Life, accident and critical illness.
  • Health and dental.
  • Health care spending account.
  • Disability management solutions.
  • Health, wellness, and online services.
  • Personal health and dental coverage.
  • Taxable spending account.

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What are the Different Health Insurance Plans Offered by Equitable Life 

Equitable Life has a very flexible claims system that makes it easy to offer each client a customized health benefit that suits their specific needs. Here are the health benefits offered by the plan.

  • Convalescent home services.
  • Private duty nursing care.
  • Dental accident.
  • Vision care services.
  • Survivor benefits.

The individual plan includes a critical illness insurance plan, EquiLiving, which covers 25 conditions and 5 additional conditions for children.

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News about Equitable Life

DBRS, a global credit rating agency, confirmed on September 27, 2018, Equitable Life of Canada’s “A” rating for financial strength. DBRS cited a number of factors such as Equitable Life’s strong market presence, its good risk profile, ability to adapt to the current business environment and the notable investments in process improvement as well as technological improvement to minimize cost and improve its services.

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Equitable Life FAQ

What is a segregated fund?

A segregated fund is much like a mutual fund but unlike a mutual fund, it offers an insurance product which provides investors a downside protection.

Does Equitable Life manage non-segregated funds?

Yes. The Equitable Asset Management Group (EAMG) manages Equimax which is a whole life participating fund provided by Equitable Life.

How do I purchase Equitable Life’s funds?

For financial advisors, simply request contact information for your local sales manager. Retail investors can contact their financial advisor or local insurance for more information.

What is tactical asset allocation?

Tactical asset allocation is a way to adjust the exposure of asset classes dynamically by employing the principles of micro-economics. These include bonds and equities.

You have a lot of segregated funds, which ones does Equitable Life manage?

Equitable Life is responsible for selling the funds of several Canadian insurance companies, however, Equitable Asset Management Group (EAMG) manages the Active Balanced Portfolios. Furthermore, Equitable Life does not have any investment association with any other segregated fund other than the Money Market fund and the Active Balanced portfolios.

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