WATERLOO, ON, June 15, 2011 /CNW/ - 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 eligible 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
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.
SOURCE Equitable Life of Canada
For further information:
Media relations contact
Director, Corporate Communications
1.800.722.6615 ext. 8017