New collateral financing offer from Equitable Bank

Business Development August 23, 2021

We are pleased to announce our new partnership with Equitable Bank, which gives clients with whole life insurance policies access to the Equitable Bank's cash surrender value line of credit products.

Advantages for your clients

Equitable Bank's line of credit products are secured against the cash surrender value of whole life insurance policies and offer a variety of advantages:

  • Access to tax-free cash through a line of credit, up to 90% of the cash surrender value of their life insurance policy
  • Borrowing against the policy's cash surrender value without interrupting the growth of their policy
  • Flexible funding options, whether scheduled or ad-hoc
  • Interest rate that's generally lower than other financing products

Your clients will enjoy additional income that they can use to:

  • Pay for major expenses
  • Increase the value of their investment portfolio
  • Supplement their retirement income
  • Renovate their home
  • Purchase real estate
  • Invest in their business
  • Buy out a shareholder or a retiring business partner

A simple application

  • Minimal personal information is required
  • Documentation is reduced to speed up the underwriting process

Products available

Here are the main features of the 2 line of credit products offered by Equitable Bank.

CSV FLEX Line of Credit

  • Available to residents of Canada who are 50 years of age or over and have a whole life insurance policy with a cash surrender value (participating or nonparticipating)
  • Principal or interest payments are not required provided your client's loan remains in good standing1
  • 1 The Equitable Bank CSV Line of Credit is a demand credit facility, meaning Equitable Bank can demand payment of all or part of the outstanding balance at any time. The outstanding balance of your client's loan must remain below 95% of the cash surrender value of their policy.

CSV MAX Line of Credit

  • Very accessible product available to residents of Canada who has reached the age of majority and have a whole life insurance policy with a cash surrender value (participating or nonparticipating – minimum $15,000 loan)
  • Policyholder must meet financial qualifications to ensure interest payment can be made

Eligibility for both financing products is determined between Equitable Bank and the client.

Process for offering collateral financing to your client

  1. Make sure your client has adequate cash surrender value available in their policy.
  2. Contact one of our partners (Manulife Bank or Equitable Bank) and recommend your client to them.
  3. The partner will contact your client to start the lending process.


If you'd like to find out whether your client is eligible for one of these products or if you have questions:

Business Development