Equitable life insurance
Canada is a leading life insurer in Canada and is ranked among the top 15 insurance companies in Canada. The company had an AM best company rating of NR-5 and as of 2010, its capital base was 1.3 billion CAD and business funds of over 40 billion dollars. Being an independent life insurance company, the qualifying life insurance policyholder receive dividends based on the company performance. Equitable life has an asset base of over 1.3 billion dollars with new premiums written in 2010 amounting to 414 million CAD. The company was established in 1920 and since then has continues to put a strong financial performance. The company provides a range of life and health insurance products. Equitable life insurance Toronto offices head the Equitable life insurance Ontario business and the nationwide operations.
The Equitable life insurance policies include universal life, term life and whole life insurance. The Equitable life universal life insurance products range in terms of the cost of insurance plan and the cash value and benefit model. The EquiLife Limited Pay provides guaranteed cost of insurance for specific periods of time. This universal plan is participating thus giving policyholder an opportunity to share in the dividends. The policy comes with guaranteed cash values and a diverse option for investing the cash value. The Equation Generation IV universal life insurance policy is a low cost product with options for death benefit plan and cost of insurance models. There are two types of Generation IV policies namely Generation IV with Bonus and Equation Generation IV Low Fees. The Equitable term life policies include a 10 year term life policy and 20 year term life policy option. The whole life insurance policy by Equitable life insurance is named Equimax and it provides a participating lifelong policy cover with level premiums.
Equitable life insurance Canada also offers a critical life insurance policy that provides a face value payout to policyholder who is diagnosed with one of the predefined critical illnesses. Critical illnesses include diseases such as stroke, cancer, heart attack, excessive burns among other diseases.