Equitable Bank Insurance Lending Solutions

If you’re looking for quick access to tax-free cash1 to meet your goals, we offer three products within our Equitable Bank CSV Insurance Lending Solutions to leverage your whole life insurance policy.

The Equitable Bank CSV FLEX Line of Credit offers access to tax-free cash1 while your policy continues to grow, and payments are not required.2 This option allows you to access up to a maximum of 90% of the cash surrender value of your policy (evaluated on a case-by-case basis) and is available to Canadian residents 50 years of age or older who have a whole life policy with one of Equitable Bank’s insurance partners.3

Use the Equitable Bank CSV FLEX Line of Credit Qualification Calculator to see how much you may be eligible for.

The Equitable Bank CSV MAX Line of Credit offers access to tax-free cash1 while allowing the policy to continue to grow. Borrowers are eligible for credit limits totalling 90% of the cash surrender value of the policy, provided that monthly interest payments are made.2 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.

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, or are in the process of obtaining, a whole life policy with one of Equitable Bank’s insurance partners are eligible to apply for this option.

Contact your financial advisor to see how you can do more with what you’ve built today.

Equitable Bank CSV Line of Credit Suite

Advance your next financial move with Equitable Bank Insurance Lending Solutions

Equitable Bank CSV FLEX Line of Credit

  • Tax-free funds

    Take your wealth management plans to a new level by getting access to cash that’s tax-free.1

  • No payments required

    Payments are not required as long as your line of credit remains in good standing.2

  • Access up to 90% of the CSV value of your policy

    You may be eligible to access up to a maximum of 90% of the cash surrender value of your policy.3

  • Continued growth

    Borrowing from your policy’s available CSV allows you to keep your policy intact. You get access to cash without interrupting the growth of your policy.

  • Flexible options

    With multiple advance options to obtain funds, you get what you want when you need it. Scheduled, ad-hoc or all at once – you decide what works best for you.

  • Trusted partners

    We understand the value of expertise. That’s why we’ve partnered with well-known Canadian insurers.

Equitable Bank CSV MAX Line of Credit

  • Tax-free funds

    Take your wealth management plans to a new level by getting access to cash that’s tax-free.1

  • Access 90% of the CSV value of your policy

    You may be eligible to access 90% of the cash surrender value of your policy.4

  • No age restriction

    Canadian residents that are the age of majority are eligible to apply for this option.

  • Continued growth

    Borrowing from your policy’s available CSV allows you to keep your policy intact. You get access to cash without interrupting the growth of your policy.

  • Flexible options

    With multiple advance options to obtain funds, you get what you want when you need it. Scheduled, ad-hoc or all at once – you decide what works best for you.

  • Trusted partners

    We understand the value of expertise. That’s why we’ve partnered with well-known Canadian insurers.

Equitable Bank Immediate Financing Arrangement (IFA)

  • Tax-free funds

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

  • No additional collateral required

    Borrow back the premium without the requirement for additional collateral.

  • Access up to 100% of policy premium

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

  • 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.

Pursue more of life’s opportunities with Equitable Bank Insurance Lending Solutions

  • Dream bigger: From dream homes to dream vacations, enjoy the lifestyle you want with greater financial flexibility. Having quick access to extra cash means you can enjoy more of what life has to offer.
  • Supporting your family: Give more to those you love. Fund your children’s tuition costs, contribute to their wedding day or help them move into their first home with money that’s tax free.1
  • Expand your portfolio: Add to your investments by securing credit to fund a real estate opportunity, business venture or to diversify your market holdings with financing when you need it.
  • Plan for retirement: Further develop your retirement strategy by supplementing your income. Leveraging your policy as a flexible financial planning tool can help you achieve your goals more easily (and with the Equitable Bank CSV FLEX Line of Credit option, you won’t have to make monthly interest payments).
  • Grow your business: Have a corporation or small business? Obtain capital to increase opportunities for growth, with the Equitable Bank CSV FLEX Line of Credit option of no ongoing payments. Take your operations to new heights to fund business continuation with a smarter financing option.
  • Emergency fund: By leveraging credit that’s readily available, you can handle unanticipated expenses as they come up and retain your peace of mind.
Michael Cappello
Michael Cappello
Business Development Manager, Wealth Solutions
Tel: +1-416-818-1682
Ontario
Deborah Bendavid
Deborah Bendavid 
Senior Bilingual Associate, Internal Business Development, Wealth Solutions
Tel: +1-647-668-7128
Quebec

You may be eligible for an Equitable Bank CSV FLEX Line of Credit if you:

  • Are 50 years of age or over and a resident of Canada
  • Have a whole life insurance policy with one of Equitable Bank’s insurance partners
  • Have adequate cash surrender value available in your policy

You may be eligible for an Equitable Bank CSV MAX Line of Credit if you:

  • Are the age of majority and a resident of Canada
  • Have a whole life insurance policy with one of Equitable Bank’s insurance partners
  • Have adequate cash surrender value available in your policy
  • Meet financial qualifications to ensure interest payments can be made

You may be eligible for an Equitable Bank Immediate Financing Arrangement if you:

  • Are the age of majority and a resident of Canada
  • Have a whole life insurance policy with a minimum annual premium of $100,000 with one of Equitable Bank’s insurance partners
  • Meet financial qualifications to ensure interest payments can be made

Repayment and interest

Equitable Bank CSV FLEX Line of Credit

Payments are not required if your line of credit remains in good standing.1 Interest is capitalized meaning it’s added to your outstanding balance and accrues until funds are repaid. Generally, when your death benefit is paid, your beneficiary will receive the amount minus your outstanding balance.

Equitable Bank CSV MAX Line of Credit

Monthly interest payments are required. Generally, when your death benefit is paid, your beneficiary will receive the amount minus your outstanding balance.

Equitable Bank Immediate Financing Arrangement

Monthly interest payments are required. Generally, when your death benefit is paid, your beneficiary will receive the amount minus your outstanding balance.

Application Process

  1. 1

    Meet with your financial advisor or an accredited insurance broker

    They’ll work with you to determine which Equitable Bank Insurance Lending Solution option may be best suited for your needs, and will help you prepare a few documents we’ll need.

    Equitable Bank CSV FLEX Line of Credit forms

    Equitable Bank CSV MAX Line of Credit forms

    Equitable Bank 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 CSV Line of Credit or IFA approved

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

Rates
TypeRate
CSV Prime Rate (P)5.45%*
Equitable Bank CSV MAX/FLEX Line of Credit & IFA Competitive loan specific pricing based on Equitable Bank CSV Prime Rate**

CSV Prime Rate as of December 12th, 2024.