June 15, 2011 -
The Equitable Life Insurance Company of Canada® is pleased to
announce that its Board of Directors has approved the continuation
of the current dividend scale for 2011/2012. As such, policyholder
dividends credited to each individual policy during the period from
July 1, 2011 to June 30, 2012 will be equal to or greater than
those of the previous year. Total dividend payments to
policyholders will be approximately $10.2 million in 2011/2012,
compared with $9.8 million the previous year.
Despite the economic decline and low interest rates over the
past few years, Equitable Life of Canada® has maintained a prudent
risk management and long-term investment strategy for its
Participating Account, allowing the Company to maintain positive
yields. However, a prolonged low interest-rate environment could
put downward pressure on those yields, requiring a reduction in the
dividend scale in the future.
About Equitable Life of Canada
Since 1920, customers have been depending on Equitable Life of
Canada for financial protection. As one of the largest mutual life
insurance companies in Canada, Equitable Life® is dedicated solely
to its policyholders. Everything we do is focused on providing them
with personalized service, security and wellbeing.
Through partnerships with Managing General Agencies and
Advisors, we offer a wide selection of competitive Individual Life
and Health, Savings and Retirement and Group Benefits products to
meet a range of financial planning and health needs.
Media relations contact
Director, Corporate Communications
1.800.722.6615 ext. 8017