New Equitable Life Policy Loan Process
What This Covers
A step-by-step walkthrough of how to take a policy loan from Equitable Life of Canada—covering both the old manual process and the new client portal feature that simplifies requests.
Why Clients Use It
To access cash from their participating whole life policy
To start practicing the Infinite Banking Concept through real borrowing
To learn the difference between manual and online policy loan options
To feel more confident using the client portal for self-service
Key Insights by Timestamp
00:00 – 01:18
Many policyholders haven’t taken a loan yet. This session is for them.
Policy loans are a core part of becoming your own banker, not just owning insurance.
01:18 – 04:02 📝 Old Process Overview
Requires PDF form #680, wet signature, scanned and emailed to Equitable Life.
Payout options:
Up to $100,000 via Electronic Fund Transfer (with void cheque attached)
Over $100,000 via physical cheque only
Email addresses to send form:
enforcelivemail@equitable.cacustomer-service@equitable.ca
Loan processing time: 3–7 business days
04:02 – 07:11 🌐 New Online Process via Client Portal
Clients can now log in at client.equitable.ca to request loans directly
Setup requires:
Policy number
Postal code
Date of birth of the insured
Once logged in:
Navigate to the policy > Values tab
Click the new “Request Loan” button
Enter loan amount (minimum $500)
Confirm address for delivery
07:11 – 09:51 📬 Current Limitations + Workaround
Default delivery is by cheque
For bank deposit, you must:
Submit the request online
Email
enforcelivemail@equitable.cawith:Policy number in subject line
Void cheque attached
Request for EFT
In the future, the system will allow direct input of bank info and delivery preference
Toggle agreement checkboxes and submit the request. Confirmation arrives by email
Key Takeaway
Taking a policy loan is now faster and more convenient.
Equitable Life’s new client portal feature lets you initiate loans online, reducing paperwork and delays, while still giving you control over how the funds are sent. This is a big step toward making your banking system work for you.