Equitable Life of Canada Review

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About Equitable Life Insurance

Equitable Life of Canada is a mutual insurance company founded in 1920. The company is reputed to have strong financial stability, and outstanding customer service. Equitable Life is owned by its policyholders and as a result, the company takes pride in their tactfulness and cordiality in its communication.

Equitable Life of Canada is trusted for offering life insurance, critical care insurance, and health insurance for individuals, as well as group benefits. Policy holders are able to bundle their insurance and convert individual coverage to family coverage.

Equitable Life Key Information

Company NameEquitable Life of Canada
Head Office Address One Westmount Road North, P.O. Box 1603, Stn,
Waterloo, Ontario, N2J 4C7
Contacts519.886.5210 or 1.800.722.6615
Fax: 519.883.7404
Website https://www.equitable.ca
In Business Since 1920
A.M. Best Rating -
Financial AssetsC$20.32 Billion
Terms and Conditionshttps://www.equitable.ca/en/legal.aspx

How Do I Purchase a Plan with Equitable Life?

You can contact Equitable Life by phone or directly on their website if you wish to purchase a plan with them. 

How Can I Reach Equitable Life by Telephone?

To reach Equitable Life by telephone, contact them at 1.800.722.6615. 

How Do I File a Claim with Equitable Life?

You can file a claim with Equitable Life via phone or fax. The corresponding phone numbers can be located here.

Equitable Life Pros and Cons

As with any product or service, and depending on your individual needs, there’s always advantages and disadvantages. Let’s take a look:

Why Equitable Life Could Be Right for You:

  • Wide range of products 
  • Strong customer service
  • Customized insurance solutions

Why Equitable Life May Not Be Right for You:

  • Expensive
  • Complex policies
  • Coverage limitations

What Does Equitable Life Insurance Offer?

Equitable Life offers a comprehensive array of life and critical insurance options designed to safeguard your financial well-being and provide peace of mind. From life insurance plans tailored to individual needs to critical coverage that ensures access to quality care, Equitable Life's diverse range of options caters to various lifestyles and priorities.

EquiLiving Critical Illness Insurance 

EquiLiving critical illness insurance is designed to cover the cost and requirements of your extended healthcare. You can take advantage of alternative therapies outside of Canada. In this plan, you will be paid a lump sum if you survive the critical illness after 30 days of being diagnosed with it. The plan covers 25 life-threatening illnesses such as heart diseases, multiple sclerosis, paralysis, Parkinson’s disease, Alzheimer’s disease, coma, major organ transplant, loss of limbs, benign brain tumor, cancer, kidney failure, occupational HIV infection and so forth. Additional 5 critical illnesses are covered for children up to age 25. These include cerebral palsy, cystic fibrosis, congenital heart disease, type 1 diabetes mellitus, and muscular dystrophy. You can bundle the EquiLiving critical illness insurance to a universal life insurance, term insurance or a whole life insurance to provide better protection for your health and life needs. The plan makes it possible and easy for you to take alternative therapies outside Canada. The cost of extended healthcare is also covered by this plan. 

Equitable Life - Life Insurance Plans

Equitable Life presents a range of life insurance plans designed to secure your family's future. With options like term life, whole life, and universal life insurance, they offer flexible coverage choices. Whether you seek financial protection, estate planning, or lifelong security, Equitable Life's life insurance plans provide the necessary foundation for you and your loved ones.

Term Life Insurance 

The Equitable term life insurance is a customizable insurance coverage that can be tailored with optional benefits to meet your evolving needs. You can cover multiple lives on the plan, or you can add term life insurance on your children to make it a family plan. The plan also includes unique mortgage protection and you can bundle term life insurance and EquiLiving insurance in one package. Equitable term insurance is designed to help you continue your mortgage payment, replace your income, fund your children's education, maintain your family’s lifestyle, pay business loans and debts, and so forth. The plan is designed to efficiently help you protect your mortgage. The plan has three options namely 10 year term, 20 year term and term 30/65. The first two allow you to renew your premium every 10 and 20 years respectively, while in term 30/65, premiums are payable to the later ages 65 or 30.

Equimax Insurance 

Equimax allows you to customize your insurance plan. The optional benefits that come with the plan are designed to make the plan suitable for your unique needs. The plan also makes it easy for you to leave a legacy for your dependents and give your children a head start for tomorrow. You can improve your life and that of your loved ones with this plan. Equimax is adequate for you if you want to create an inheritance for your loved ones with the tax-free death benefit. You can also preserve an inheritance for your beneficiaries. With the Equimax 20 Pay, you can provide a paid-up permanent protection for your children or grandchildren at a low rate. The cash value can be used to augment your retirement income. This can help you to build wealth, pay your children’s educational fees, or financial needs and so forth. With this plan, you can save tax, increase your wealth and leave a legacy. Bundle the Equimax life insurance and the EquiLiving critical illness insurance in one package to help protect your health and life needs.

Equation Generation IV

There are lots of high performing investment options included in the Equation Generation IV. Equitable Life can help you to choose the investment option that will best suit your needs if you complete the Universal Life Protector Profiler Questionnaire. Equation Generation IV is an ideal insurance plan for you if you need a tax-advantaged investment opportunity and also a cost-effective life insurance plan. The plan is of two types namely, Equation Generation IV with Bonus and Equation Generation IV Low Fees. The cash surrender value of the policy can serve as collateral for a tax-free bank loan. The plan is easily customizable. Bundle term life insurance and EquiLiving critical illness insurance in this package to help protect both your life and health needs from a single box. A wide range of investment options is offered by Equation Generation IV. Equitable Life is always available to help you choose the best option if you complete the Universal Life Investor Profile Questionnaire.

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