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- [pdf] Payout Annuities Product at a Glance
- [pdf] Application for Agency Contract to Sell Insurance Products - MGA, AGA and National
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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* will decrease from 6.2% to 6.05%.
- All series of participating whole life policies issued in the 2012 series and beyond other than the most recent Equimax Estate Builder® series will see an improvement in the mortality component. The most recent Equimax Estate Builder series, for sale as of September 12, 2020, already incorporated better mortality and its mortality component will remain unchanged. Series issued prior to 2012 will see an increase in the overall dividends but results will vary by series and policy.
- Other factors that are used to calculate the dividend scale will remain unchanged.
- The interest rate for dividends left on deposit will decrease from 2.75% to 2.25% for all participating whole life policies.
- The policy loan rate will remain unchanged at 6.2%. This applies to all new and existing policy loans, including automatic premium loans on Equimax® policies that have a 9-digit policy number beginning with a “3” or an “8”. The policy loan rates on some older blocks of policies may increase or decrease because they are tied to the prime interest rate.
*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.
Find out more -
Joe Galbraith recognized as Wealth Professional Magazine 2025 5-Star Wholesaler of the Year
Joe Galbraith, Director, Investment Sales at Equitable®, has been named one of Wealth Professional Magazine’s 2025 5-Star wholesalers. This award highlights his significant contributions to the financial services industry. The 50 individuals, chosen from a large pool of nominees, represent some of the best in the wholesaling business.
Encouraged by his wife to pursue his passion for helping people, Joe transitioned into financial services, spending 12 years as an advisor. He began his current role as Director, Investment Sales with Equitable six years ago. Known for his empathetic service mindset, Joe is deeply committed to understanding and addressing the unique needs of everyone he works with. His collaborative approach and knack for problem-solving make him a valued team member.
Joe's recognition as one of Wealth Professional's top 50 wholesalers underscores his commitment to clients and the industry. In response to this recognition, Joe expressed he is “humbled that advisors value our relationship enough to take the time to nominate me for this recognition. Their support and belief in me mean a great deal, and I’m grateful for the trust and collaboration we share.”
Join us in congratulating Joe on this achievement!
Date posted: May 1, 2025
- [pdf] Introducing EZBenefits: A better benefits experience for small business