April 12, 2010 -

Equitable Life® announced today that it offers clients the option to select simple interest payments on new Guaranteed Interest Account contracts issued on or after Monday, April 12, 2010.

This new option provides clients the flexibility to request simple interest payouts monthly or annually, while preserving the principal. By presenting the opportunity to select the preferred payment frequency, clients are able to align regular income payments on Guaranteed Deposit Accounts to meet their financial needs. Whether simple interest payments are used to cover the cost of monthly expenses through retirement, or to plan for the annual family vacation, this new feature presents the optimal solution for clients looking for a secure investment, at industry-leading rates.

"Equitable Life understands that each client has their own unique investment objective - from those saving for retirement, to those living out their retirement dreams. Whatever the case may be, the new simple interest payout option offers the flexibility to assist all Canadians in achieving their financial goals."

- Michael Dawe, Senior Vice-President, Individual

Founded in 1920, Equitable Life of Canada is the largest federally regulated mutual life insurance company in Canada, offering a wide selection of quality financial products in individual life and health insurance, group life and health insurance, annuities, segregated funds and retirement plans as well as commercial mortgages. Equitable Life of Canada, which is known for its highly personal and responsive services, employs more than 500 staff members at its head office in Waterloo and in regional offices across Canada. More than 10,000 advisors represent the Company, from British Columbia to Ontario and the Atlantic provinces.