New dividend scale effective July 1, 2013

Equitable Life® is one of Canada's largest mutual life insurance companies.  Our participating policyholders are our owners. We have no shareholders.

Participating whole life policyholders are entitled to share in Equitable Life's distributable earnings of the Participating Account through a credit of annual dividends to their policy.  Equitable Life's Participating Account yield has remained strong despite challenging economic times and a low interest rate environment.  The prolonged low interest rate environment continues to put pressure on those yields, which needs to be reflected in the dividend scale and could require reductions to the dividend scale in the future for all classes of participating policies within the participating block.

Determining the dividends takes into consideration various components.  These include the investment performance of the Participating Account as well as death claims, policy lapses, taxes, and other expenses.  An objective of each year's dividend is to maintain reasonable equity between classes and generations of policyholders.  This means that different classes of policies may have different adjustments to the dividends they receive.  Dividends are not guaranteed and future dividends can be higher or lower than previously projected.

Equitable Life's Board of Directors has approved a change to the dividend scale effective July 1, 2013.  Most Equimax® Participating Whole Life policies purchased from November 2004 to February 2012 will be affected.  The change consists of a reduction to the dividend interest rate.  Other components will remain unchanged.  What does this mean to you?

If you purchased an Equimax® Participating Whole Life policy before November 2004 or after February 2012, you are not affected by this dividend scale change.

Would you like more information?

If you have any questions regarding the dividend scale change, your policy or Equitable Life, or if you would like an updated illustration to show how your cash values will grow given the new dividend scale, please call your advisor or contact us at 1.800.668.4095 or email