Equitable Bank announced Sept. 3 a new partnership with Empire Life. Through the Equitable Bank CSV Line of Credit, Empire Life policy owners can borrow up to 90 per cent of the cash surrender value of their insurance policies without making ongoing payments and affecting the growth of their policy.
"We are pleased that more and more well established insurance providers such as Empire life are recognizing the value in our CSV lending products" says Andrew Moor, President and Chief Executive Officer, Equitable Bank. "Empire's vision of being Canada's most convenient insurance and investment company is both admirable, and one we can relate to as Canada's Challenger Bank."
Equitable Bank's CSV Line of Credit is currently available to Canadians aged 50 and over who have a whole life insurance policy with a partnered insurer, and adequate cash surrender value available in their policy to secure a loan.