Equitable Life Insurance Review

Equitable Life has been providing financial protection to Canadians since 1920. They are one of the biggest mutual life insurers in the country where they are able to provide fully to the needs of their customers with things like personalized services, security, wellbeing and many more.

Their products come in many categories, including insurance products for individuals, as well as other products like investment management, savings & retirement and group benefits.

Term life insurance is the first service to be listed. The period can go for either 10 or 20 years, and most importantly, you are able to renew your policy when the period is over. The advantage of this plan is that you can customize your benefits to make sure it includes everything you need.

Whole life insurance is similar to term life, however it is a permanent protection. The thing that I really like about this is that it can guarantee your premiums, cash values and death benefits. The payment you receive from this plan can be used on a number of things like education funding, home renovation and even to add to your retirement income.

The two plans that you are able to select from are Equimax Estate Builder, and Equimax Wealth Accumulator. The first allows you to have higher long-term value, and the latter allows you to have higher early cash values within the first 20 years.

The next plan up is universal life insurance. What I really like about this plan is that it is very cost effective. It is also great for clients that want to have tax-advantaged investment opportunities.

Lastly, critical illness can provide you with an income in the event of you suffering a terminal illness. At first I was taken by the long list of conditions that are covered. It included things from heart attacks, severe burns, stroke, cancer, all the way to Parkinson’s disease, which I think will really cover the majority of illnesses people will suffer from. And for children up to the age of 25, conditions such as muscular dystrophy and cystic fibrosis are also covered to give you a peace of mind.

The benefits of this plan are that it is a lump sum payment and you are allowed to use the money however you like.

To see the other products that Equitable Life of Canada will be able to provide to you, it is very important that you head over to their website and have a look around.

Equitable Life Insurance has been rated 4.5 out of 5 by Insurance Reviews.