June 5, 2024 -

Equitable®  is pleased to announce a change to the dividend scale for the period of July 1, 2024 to June 30, 2025.

  • The dividend scale interest rate will change. It will go from 6.25% to 6.40% on July 1, 2024.
  • Other factors used to decide the dividend scale will stay the same.
  • The interest rate for participating whole life insurance policies with dividends on deposit will change. It will go from 2.25% to 3.50% on July 1, 2024.
  • The interest rate for most policy loans will remain at 6.50%. This applies to both new and existing policy loans, and automatic premium loans. Older policies may have different loan rates.
  • We expect to pay close to $140 million in dividends between July 1, 2024 and the end of June 2025. 

Eligible policyholders may get some of the participating account earnings as dividends. 

Every year, we look at how much was earned by the participating account. Many factors, like the death benefits we paid and how our investments did, can affect the earnings of the participating account. We use a formula called a dividend scale to figure out how much of the earnings can be paid as dividends. Each year, we make sure the dividend scale reflects in the performance of the participating account. Using the dividend scale, we determine the dividend payment. If a dividend is declared, it will get paid towards eligible policies.

Dividends are not guaranteed. Dividends are paid at the sole discretion of the Board of Directors. 

For more information, please visit the Dividend Information page.

About Equitable
At Equitable we believe in the power of working together. This guides how we work with each other. It guides how we help our clients and partners. And it guides how we support the communities where we live and work.

Together, with partners across Canada, we offer individual insurance, group insurance and savings and retirement solutions. Helping our clients protect today and prepare tomorrow.

We believe the world is better when we work together to build an Equitable life for all.

® or TM denotes a trademark of The Equitable Life Insurance Company of Canada.

For additional information:
Patti McKague,
AVP, Corporate Communications and Philanthropy