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Equitable Life Insurance review

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Equitable Life Insurance
All information about Equitable Life Insurance has been collected independently by Finder. Finder is not connected with Equitable Life products, and this page is not sponsored, endorsed or administered by, or associated with, Equitable Life. All product names, logos, and brands have been used for identification purposes only and are property of their respective owners.


Equitable Life Insurance 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.

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


  • Financial strength and stability. Equitable Life Insurance has a conservative approach to investments because it is owned by its policyholders and not shareholders.
  • Industry-leading insurance. Equitable Life Insurance works with independent financial advisers across Canada and offers a diverse set of insurance and financial solutions to meet your needs.
  • Longevity. Equitable Life Insurance has a solid reputation as it has been successfully insuring Canadians for 100 years.


  • Lack of options. You'll have to turn to another provider for other types of insurance (e.g. auto, home, travel etc) as Equitable Life Insurance only offers life insurance packages.

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What is Equitable Life Insurance?

As a life insurance provider to Canadians for over 100 years, Equitable Life is well known for its good reputation and flexibility in its life insurance policies. Its corporate headquarters are 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 a C- rating with the Better Business Bureau and is not BBB accredited. It also has an average rating of 3.8 out of 5 stars from over 90 Google reviews.

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.

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