Equitable Life Insurance Review April 2021 | Finder Canada
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Equitable Life insurance

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Equitable Life offers a diverse selection of life insurance packages including Equimax and Equiliving.

Equitable Life works with independent financial advisers across Canada and offers a diverse set of insurance and financial solutions to meet your needs.

Please note: All information about Equitable Life insurance has been collected independently by Finder and this product is not available through this site.

Equitable Life provides Canadians with a wide range of life insurance and investment options to ensure that your dependants are financially secure in the event of a fatality. It is a long-established company in Canada and will be celebrating its centennial year in 2020.

What is Equitable Life insurance?

As a life insurance provider to Canadians for 100 years, Equitable Life is well known for its good reputation and flexibility in its life insurance policies. Its corporate headquarters is in Waterloo, Ontario – the city in which it was founded.

Equitable Life covers all your bases when it comes to life insurance and offers a variety of different options that are right for your needs and lifestyle. When it comes to individual insurance plans, Equitable Life offers the following:

  • Term life insurance. Providing flexible and affordable protection for you and your family, term life insurance provides coverage that expires at a specific age or year. Premiums are guaranteed for a given period of time depending on the plan selected, but it is usually for a term of 10, 20 or 30 years.
  • Whole life insurance. Labelled as Equimax, this plan offers permanent protection with guaranteed premiums, cash values and death benefits.
  • Universal life insurance. This plan is ideal for those who want cost-effective life insurance and tax-benefit investment opportunities.
  • Critical illness insurance. Labelled as EquiLiving, this plan pays out a lump-sum benefit after a survival period of 30 days after diagnosis of a critical condition covered by the plan.

What other insurance coverage options does Equitable Life offer?

Equitable Life does not offer any other insurance products other than life insurance. However, it does offer a range of investment-related opportunities for its clients.

Equitable Life insurance bundles

Equitable Life gives you the flexibility to customize your insurance plan with optional benefits. Some of these optional benefits include a bundle package where you can bundle a term life insurance plan and an EquiLiving (critical illness insurance) plan to help protect your life and health needs in one combined policy.

What exclusions do I need to know about?

Naturally, each plan will have its own set of exclusions and limitations. It’s important to read and understand what exactly is excluded from the plan you have selected. If you still have questions over a plan’s exclusions and limitations, it’s best to contact an Equitable Life adviser who can properly convey what these exclusions are.

What do customers say about Equitable Life of Canada?

Equitable Life insurance has an A+ rating with the Better Business Bureau. This rating speaks to Equitable Life‘s reputation as a trusted leader in the life insurance space and its longevity in providing Canadians with life insurance for 100 years.

How to contact Equitable Life?

Equitable Life makes it very simple and convenient for you to contact the company regarding your life insurance plan and reporting a claim.

For anything related to your life insurance plan including making a claim, you can call the company’s toll-free number at 1-800-668-4095 or you can email them through its website.

Equitable Life mobile app

Equitable Life has a mobile app called Equitable EZClaim Mobile that is available on most Android and Apple devices. With this app, you can submit a claim, view your life insurance policy and contact Equitable Life if you have any questions.

Compare other life insurance providers

Name Product Types of Insurance Coverage Range Issue Ages Medical Exam Required Province Availability
RBC Life Insurance
Term Life
$50,000 - $25,000,000
18 - 75 years old
No
Ontario, Alberta and Manitoba
Select from two unique RBC term life insurance plans to get flexible and affordable coverage that suits your lifestyle and budget. Get a free quote through PolicyAdvisor.
PolicyMe Life Insurance
Term Life
$100,000 - $5,000,000
18 - 75 years old
No
Alberta, British Columbia, Manitoba, Nova Scotia, Ontario and Prince Edward Island
Get fast and affordable term life insurance without the need for a medical exam with PolicyMe.
Manulife Life Insurance
Term Life
$100,000 - $1,000,000
18 - 70 years old
No
Ontario, Alberta, Manitoba
Manulife's CoverMe Term life insurance is simple and straightforward coverage that suits your lifestyle and budget. Get a free quote through PolicyAdvisor.
Empire Life Insurance
Term Life
$50,000 - $10,000,000
18 - 75 years old
No
Ontario, Alberta and Manitoba
Empire Life offers affordable, flexible term life insurance coverage and can provide lifetime coverage if needed. Get a free quote through PolicyAdvisor.
BMO Life Insurance
Term Life
$100,000 - $5,000,000
18 - 75 years old
No
Ontario, Alberta, Manitoba
BMO Term life insurance provides you with coverage for 10, 15, 20, 25 or 30 years. Get a free quote through PolicyAdvisor.
Desjardins Life Insurance
Term Life
$50,000 - $10,000,000
18 - 75 years old
No
Ontario, Alberta and Manitoba
Desjardins offers a number of different term life insurance options to cover fixed-term needs including lifestyle protection and mortgage coverage. Get a free quote through PolicyAdvisor.
Wawanesa Life Insurance
Term Life
$50,000 - $10,000,000
18 - 75 years old
No
Ontario, Alberta and Manitoba
Wawanesa offers simple and straightforward term life insurance coverage. Choose from single and joint coverage options. Get a free quote through PolicyAdvisor.
Canada Life Insurance
Term Life
$100,000 - $10,000,000
18 - 75 years old
No
Ontario, Alberta and Manitoba
Choose from 4 different term life insurance options from Canada Life. Get a free quote through PolicyAdvisor.
Canada Protection Plan Life Insurance
Term Life
$50,000 - $1,000,000
18 - 70 years old
No
Ontario, Alberta, Manitoba
Canada Protection Plan's Preferred Term life insurance is suitable for those in good health. Get a free quote through PolicyAdvisor.
Assumption Life Insurance
Term Life
$50,000 - $4,000,000
18 - 75 years old
No
Ontario, Alberta, Manitoba
Choose from five different term life insurance plans with Assumption Life. Get a free quote through PolicyAdvisor.
Sun Life Go Simplified Term Life Insurance
Term Life
$50,000 - $100,000
18 - 69 years old
No
All of Canada
Sun Life Go Simplified Term Life Insurance covers you for 10 years, during which time your premiums are guaranteed not to rise. Apply for up to $100,000 in coverage.
Sun Life Go Term Life Insurance
Term Life
$100,000 - $1,000,000
18 - 69 years old
No
All of Canada
Sun Life Go Term Life Insurance is a standard term life insurance option that guarantees your premiums in the first 10 or 20 years of your policy.
Sun Life Go Guaranteed Life Insurance
Whole Life
$5,000 - $25,000
30 - 74 years old
No
All of Canada
Permanent life insurance coverage that guarantees fixed premiums until 95 years old (and no premiums thereafter).
 Life Insurance Through PolicyAdvisor.com
Whole Life, Term Life, Universal, No Medical
$25,000 - $5,000,000
18 - 75 years old
No
Alberta, Manitoba, Ontario
PolicyAdvisor is a digital life insurance brokerage that has partnerships with 20 insurers in Canada.
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Bottom line

Canadians looking for a company that focuses on one specific type of insurance should consider Equitable Life. It offers competitive and tailored life insurance offerings, and as a client, you become a part owner of Equitable Life.

Frequently asked questions

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