Equitable Dividend Scale Update
What This Covers
Update on Equitable Life of Canada’s dividend scale and policy loan interest rates, effective July 1, 2024.
Why Clients Use It
Helps clients track earnings potential on participating whole life policies
Clarifies loan interest rates tied to their policies
Shows long-term patterns of dividend rate changes in relation to national interest rates
Key Insights by Timestamp
(00:01) – Dividend scale increase:
New rate: 6.40% (up from 6.25%) effective July 1, 2024
Applies to most clients with newer policies (Series 3 or 8)
(00:53) – Policy loan interest rate:
Stays at 6.5% — unchanged from previous year
Most clients are not tied to Prime rate, so this applies broadly
(01:30) – Historical context:
Dividend scale closely tracks national interest rate trends
As rates rise in Canada, dividends are rising too