Equitable Bank Immediate Financing Arrangement (IFA)

If you’re looking to borrow money to protect your loved ones, while still preserving cashflow for other investment or business opportunities, our latest addition to our Equitable Bank Insurance Lending Solutions might be the answer for you.

The Equitable Bank Immediate Financing Arrangement (IFA) offers access to up to a maximum of 100% of the premium of your policy (evaluated on a case-by-case basis), without requiring you to submit additional collateral. Canadian residents that are age of majority and hold a whole life policy with one of Equitable Bank’s insurance partners are eligible to apply for this option.

Immediate Financing Arrangement (IFA)

Access up to 100% of policy premium

You may be eligible to access 100% of the total annual premium of your policy.

No additional collateral required

Borrow back the premium without the requirement for additional collateral.

Tax-free cash

Take your financial planning to a whole new level by getting access to cash that’s tax-free.1

Continued growth

You get access to cash without interrupting the growth of your policy.

Widely available

Canadian residents that are the age of majority and have a life insurance policy with a minimum premium of $100,000 are eligible to apply for this option.

Check out the links to some of our media articles here:

Do your clients need an IFA to reduce estate taxes?
https://www.investmentexecutive.com/in-depth_/expert-advice_/do-your-clients-need-an-ifa-to-reduce-estate-taxes/

Can clients use an IFA to combat inflation?
https://www.advisor.ca/partner-content_/expert-advice_/can-clients-use-an-ifa-to-combat-inflation/

How can clients balance inflation vs. the cost of life insurance?
https://www.investmentexecutive.com/in-depth_/expert-advice_/how-can-clients-balance-inflation-vs-the-cost-of-life-insurance/

Can IFAs help broach the insurance conversation with your clients?
https://www.advisor.ca/partner-content_/expert-advice_/can-ifas-help-broach-the-insurance-conversation-with-your-clients/

Debunking Myths About IFAs
https://www.investmentexecutive.com/in-depth_/expert-advice_/debunking-myths-about-ifas/

Use case

Jason wants to take out a whole life insurance policy to ensure their beneficiaries are protected, should the unexpected happen—however, the required premium payment is significant. He’s hesitant to tie up funds in a life insurance policy, as opposed to allocating them among more lucrative opportunities.

Result:

You help Jason purchase a life insurance policy to protect their loved ones. After the premium is paid (and the policy is in place), you help them acquire an Equitable Bank Immediate Financing Arrangement. Equitable Bank lends back 100% of the premium amount to Jason, allowing them to obtain the life insurance coverage they want, while maintaining the same amount of liquidity.

IFA Application process

  1. 1

    Meet with your financial advisor or an accredited insurance broker

    They’ll work with you to determine if an Equitable Bank IFA is best suited to your needs and will help you prepare a few necessary documents.

    Immediate Financing Arrangement Forms

    Your advisor or broker will determine if you require any additional documentation.

  2. 2

    We’ll review your eligibility to determine if you qualify

    By working with your financial advisor or insurance broker, we’ll determine how much you can qualify for.

  3. 3

    Getting your Equitable Bank IFA approved

    If conditionally approved, we’ll notify you of any additional requirements and confirm your credit limit, so you can access your funds.

Contact the Equitable Bank Wealth Solutions Sales Support Team at 647-600-7559, or email wealthsolutions@eqbank.ca.