New Dividend Scale effective July 1, 2021

New Dividend Scale effective July 1, 2021 The Equitable Life Insurance Company of Canada Board of Directors has approved a change to the dividend scale for the period July 1, 2021 to June 30, 2022. 
   
*The dividend scale interest rate is not the same as the participating account rate of return in any given calendar year. The dividend scale interest rate smooths out the ups and downs experienced by the participating account.
  
Policyholder dividends in the next dividend scale year would be approximately $85 million, compared to $67 million in the prior dividend scale year.
 
The sustained low interest rate environment continues to put downward pressure on the experience in the participating account. If low interest rates continue, investment returns in the participating account will also be lower, and we may need to decrease the dividend scale in the future. 
 
Your participating whole life clients will receive a notice of the dividend scale change with their annual policy statement. The Equitable Sales Illustrations system will be updated to reflect the new dividend scale. Updated illustration software will be available for download after 9 a.m. ET on June 25, 2021.

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