Whole Life Insurance – Equitable Life Equitable Life is an insurance provider in Canada and offers whole life insurance. The product name for their whole life policy is Equimax. Equimax provides participating* whole life insurance that offers permanent protection with guaranteed premiums, cash values and death benefit. The cash value can be accessed to fund education, renovate your home or even supplement your retirement income. Use it in any way you choose. Equimax can help you: Provide for your loved ones The death benefit can be used to replace your income and maintain your family’s lifestyle. Create an inheritance The tax-free death benefit creates an instant legacy for your...
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Legacy policyholders still with the pension company are due a windfall. Pension company Equitable Life is set to shut down, 18 years after it almost collapsed. So long as members agree to the move in a vote scheduled for 2019, the insurer will transfer all policies to Reliance Life and its with profits fund will be closed for good. In 2000, Equitable Life was hit by a major financial scandal which caused it to almost collapse. It had failed to put enough money aside to pay for promised pension payouts. Since then the company has been closed to any new business. Policyholders will forgo current policy guarantees, but they are set to benefit from a large windfall. A total of £1.8 billion...
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Equitable Life of Canada posts strong results for 2018 WATERLOO, Ontario, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Equitable Life, one of Canada’s largest mutual life insurance companies, had another outstanding year in 2018, with strong growth across all lines of business. The Company finished the year with one of the highest capital ratios in the industry as measured by the Life Insurance Capital Adequacy Test (LICAT). The Company reported premiums and deposits of $1.4 billion in 2018, contributing to $4.3 billion of assets under administration. Growth was bolstered by strong sales. The Savings and Retirement business set a new record of $380 million, an increase of 22% over last year. The...
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Feature offers clients the ability to capture potential investment gains in up and down equity markets Equitable, a leading financial services company and subsidiary of Equitable Holdings (NYSE: EQH ), today announced enhancements to its Structured Capital Strategies PLUS registered index-linked annuity that offers clients some upside potential even when the S&P 500 benchmark index goes down. The new feature, Dual Direction, is available within SCS PLUS annuities with the S&P 500 as the benchmark index. Dual Direction offers clients the following benefits: If the S&P 500 benchmark index declines up to or equal to 10% at the end of the six-year investment time frame, clients...
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Equitable, a leading financial services company and subsidiary of Equitable Holdings (NYSE:EQH), today announced enhancements to its Structured Capital Strategies PLUS registered index-linked annuity that offers clients some upside potential even when the S&P 500 benchmark index goes down. The new feature, Dual Direction, is available within SCS PLUS annuities with the S&P 500 as the benchmark index. Dual Direction offers clients the following benefits: If the S&P 500 benchmark index declines up to or equal to 10% at the end of the six-year investment time frame, clients earn a positive return equal to the percentage of the decline up to or equal to 10%. If the S&P 500...
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Obituary: Louise Reichgott Endel, 98; Formerly Of North Haven Her early involvement in the League of Women Voters, Girl Scouts & Ridge Road School's PTA eventually led to a lifetime of community service Louise Reichgott Endel (Image via Beecher & Bennett Funeral Home) Information via Beecher & Bennett Funeral Home Louise Reichgott Endel, 98, formerly of Vista Road in North Haven, died on April 27, 2020 of the COVID 19 virus. Her husband of 56 years, Charles Endel, predeceased her in 2000. Louise's parents, Henry (Yale '14) and Sadie Reichgott met in New Haven and raised their family of four girls in St. Louis, Missouri where Henry became the 1st Jewish Vice President of Equitable...
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Equitable Holdings, Inc. Schedules Announcement of First Quarter 2020 Results Equitable Holdings, Inc. (NYSE: EQH ) announced today that it will release financial results for the first quarter of 2020 after the market closes on Thursday, May 7, 2020. The company will host a conference call webcast on Friday, May 8, 2020 at 8:00 a.m. ET to discuss the results. The conference call webcast, along with additional earnings materials will be accessible on the company's investor relations website at ir.equitableholdings.com. Please log on to the webcast at least 15 minutes prior to the call to download and install any necessary software. To join the conference call via telephone, please use one of...
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Will you get a windfall from Equitable Life? More than 250,000 savers are set to receive surprise payouts as scandal-hit pension firm is shut down Equitable Life ran into trouble promising better payouts than could be delivered To save itself from collapse, the firm then slashed pensions by as much as 40% This led to a court case that Equitable Life lost, leaving it with a funding shortfall More than 250,000 savers with scandal-hit pension firm Equitable Life are set to receive surprise payouts worth thousands of pounds as the firm is shut down and its pension book is taken over by another company, Reliance Life. Here, Ruth Lythe explains who will benefit and by how much. What is Equitable...
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Axa Group Gives Equitable Life a Shot in the Arm Two of the world’s biggest insurers joined forces Thursday when Axa Group of France put up $1 billion for up to a 49% stake in Equitable Life Assurance Society, the third-largest life insurer in the United States. Equitable, which has been hard hit by losses in its real estate and junk bond portfolios, took immediate advantage of Axa’s capital infusion by setting aside $500 million for future writeoffs in those troubled areas. Axa’s capital infusion sets the stage for Equitable to move forward with its previously announced plan to alter its ownership structure by transforming itself from a mutual insurance company--one owned by its...
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In 2018, Michael Dawe, 62-year old Senior Vice President with 37 years’ service at The Equitable Life Insurance Company of Canada asked the Ontario Superior Court of Justice to award him 30-months’ notice. The court accepted Mr. Dawe’s position that he had intended to work until retirement at age 65 and that there were no comparable employment opportunities for him. The court considered the particular circumstances of an older employee in a post-mandatory retirement world as factors that should be considered in assessing the notice period. The court awarded Mr. Dawe’s requested 30-month notice period. In fact, the court found that Mr. Dawe should have been allowed to retire "on his own...
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