Independent Life Insurance Reviews

Equitable Life of Canada Life Insurance Reviews

(17 reviews)
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(1.6 out of 5 stars)
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Unethical Business Practices

 
(1.5 out of 5 stars)
by DrTran Jul 26, 2018
No transparency in the claim process. They do everything in their power to nickel and dime you.
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Did you know that if you are a 35-year old female, a term life insurance policy for 10 years with coverage of $500,000 will cost you around $15-$20/month? Getting your life insurance quote today will allow you to lock-in a great rate.
 

THIEVES

 
(1.0 out of 5 stars)
by Reviewer91 Jul 13, 2018
They reject everything and make you fight to get your money back from them. They won't even contact you if they need more info, they will just reject and make you start from square one and drag the process out and do whatever they can to not pay you. Be prepared to fight for your money with this useless, thieving company.
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Horrible stay away

 
(1.0 out of 5 stars)
by Look elsewhere Jun 06, 2018
Stay away from this company! Horrible service and rates constantly go up. When the time comes and you need them - good luck. You are treated like dirt. I will be going somewhere else after this nasty experience. I can’t believe how I was spoken to on the phone. You are injured and they have the nerve to say "I don’t care". What a heartless company. If I did that at my place of employment, I would have been fired!
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Feel so ripped off

 
(1.0 out of 5 stars)
by mikeg May 28, 2018
I purchased Health Insurance (medication) after losing my job in July 2017. I received a letter from Equitable Life stating I could continue coverage if purchased within the first 3 months of being laid off. I called and spoke with agent and finally decided to purchase insurance as I needed it for heart and diabetes medication. I ask the agent what it would cover and the agent told me that coverage would continue "as it was" with former employer. So I agreed to purchase for $146 per month. After about 4 months I was told by my pharmacist that my limit had been reached for the year when trying to get my medication. I called Equitable Life to inquire what was going on. The agent I spoke to then said to me that I had a $1100 "cap" for the year in which I was NEVER TOLD when I purchased. After phone calls back and forth with a few different managers, I was told that I should have basically had "read the fine print" before purchasing. I even told the manager why would I spend almost $1800 a year to get $1100 in coverage? She "denied" that I was never told. In any case, it was never resolved and I cancelled immediately. This is by far the worst company to deal with and would not recommend to anyone. Lowest star rating was 1, but I actually give this company a -5 star rating. Avoid, Avoid, AVOID
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Group benifits provider

 
(1.0 out of 5 stars)
by Rory M Jan 31, 2018
Our plan was previously with green shield never had any issues with them. Got my orthotics for my work boots as I usually do every year this year my claim was denied. They told me even with my prescription they do not cover orthotics for flat feet I asked what they do cover orthotics for and they refused to tell me. I spoke to two different agents on different days both would not tell me what medical conditions were covered by my insurance pertaining to orthotics. I asked for this policy in an email to show my plan administrator we’ll see if that email ever comes through. Really disappointed. They send out paper benefits cards cheap from first impression to last.
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Did you know that if you are a 30-year old male, a term life insurance policy for 20 years with coverage of $200,000 will cost you around $19/month? Getting your term life insurance quote today will allow you to benefit from a great rate.
 

Thieves

 
(1.0 out of 5 stars)
by Satahook Nov 22, 2017
I had health insurance with this company and it has been the worst experience ever. These people took money for a coverage for more than one year and when I finally called to use my coverage, I was informed that I did not have a coverage with the company due to having residents coverage elsewhere. Entirely false: that was the only coverage I had. So I went on to ask the customer service rep why take my money then provide no service and blatant reply was... I should go ask my employer. I have requested getting my money back because this is the highest level of fraud, leading a customer to believe there was a service provided when that was not the case. So many questions are rumbling through me... what if I was seriously injured or sick, and I thought I had coverage paid for????? These people are the scum of the earth, words can't describe how disgusting they are. I have seen the matter with them and the only thing I was told is that I should try to send in a claim form for whatever I did in the past. They are just trying to cover their track because they are so wrong. And at this point that can't help me, when I needed the service, it was not there and those people already let the cat out of the bag. I need my money, you people are thieves. I would encourage anyone with a plan to use it often so they can't scam you and make sure to keep detailed logs of when you call service reps because they will hide the call logs. And I definitely recommend everyone to find a different insurance company because this one doesn't like to pay out... only to collect.
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Where's the half star?!

 
(1.0 out of 5 stars)
by GoElseWhere Oct 30, 2017
I had to select 1 star as that is the lowest allowed rating. They provide no reason for claims denied. You have to call their claims department. You are not allowed to speak with the Judicator. The 1st level help desk is middle person to the Judicator. They do not help you with your claims, just send you off on wild gooses chases. They are not here to help. They are here to profit. You are not important. Your checkbook is. Equitable Life are villains.
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Group insurance plan

 
(5.0 out of 5 stars)
by aceman3226 Jul 21, 2017
I have been insured with Equitable Life for over 5 years. Having a small company I look to take care of my employees providing them with the best benefits and insurer. Over the years (past 20 years) we've been with all of the big Canadian companies (Sun Life, Manulife, Great West Life) and they were all ok but from a customer service standpoint, Equitable Life call centre representatives are the most knowledgeable and actually seem to care when one of my employees phone's in. They also have the best (and easiest) ways to send in claims over their website and through my iPhone. Would highly recommend this company.
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Constructive cancellation

 
(1.0 out of 5 stars)
by Havingsaidthat Jun 28, 2017
We returned from a trip last Friday and were shocked to find a letter dated June 5th from Equitable Life informing us that our life insurance policy had lapsed due to underfunding of "monthly administration charges". We were further informed that our $165 monthly payments (referred to as "premiums" in the sales pitch and on the policy), were now $438 a month and a "shortage" amount of $1029 is owed by June 28th or we would be required to apply for reinstatement. The reinstatement would require us to requalify for life insurance on the basis of good health to the company's satisfaction. We signed on to this Equation Universal Life policy on the advice of a so called financial advisor, who had been referred to us by a mortgage broker, due to our need at the time for mortgage insurance on an $80,000 mortgage. We still have the We were 33 and 37 years old when we began with Equitable life, and we have paid $41,580 over 21 years for a $250000 insurance policy. Having dutifully paid our premiums over 21 years, up to and including May 30, we are stunned to find ourselves suddenly uninsured with little time to react and come to grips with a staggering 165% premium increase. We were a simple hardworking Canadian family in 1996 just trying to do the right thing in purchasing insurance. We didn't sign on to play the stock market, and we are not trained or well versed in financial matters. We trusted the experts and just kept on paying our premiums. Given our evident longstanding loyalty, I am surprised that no financial advisor or customer service representative affiliated with our account bothered to contact us or otherwise give us advance notice of our looming situation. We certainly were contacted with additional accident insurance offers from time to time. To me, this appears to be a sort of constructive cancellation of our policy. I contacted an Equitable Life Individual customer service representative on June 26 to request more specific details regarding the underfunding matter and the administration charges in writing. I provided an email address and telephone number. I have received nothing to date. I sincerely hope that this sort of thing never happens to anyone else.
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Stalling tactics at work

 
(1.0 out of 5 stars)
by Distraught Apr 06, 2017
My brother in law died over 4 months ago and his wife was told today it will take a year to adjudicate the paper work on his life insurance policy. It is not a large amount but is needed to pay bills like the funeral. We don't understand. The man is dead and all paperwork is completed. What are we not understanding? Be aware of the stalling of payouts.
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Dont recommend - AVOID.

 
(1.0 out of 5 stars)
by elena Apr 04, 2017
I will NOT RECOMMEND this insurance, especially their Group Health and Dental Benefit due to: 1.Their booklet does not reflect the full requirement esp with custom made orthotics (please read another review here by dee on 24Jan2017); 2. Don't respect doctors prescription or find the medical judgement unsatisfactory; 3.They issued me a statement stating my condition "does not warrant treatment" though they have not seen, nor assessed my condition - the statement was plainly based on all the paperwork they received. 4. You get what you pay. Before they pay up, they will ask for too much paperwork. They think, our MD's or health service provider can make letters after letters to explain further your need for treatment. Please avoid or spare your company and your employees complains, embarrassment, headache and grief just avoid this insurance as stay with the big names.
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Absolute waste of time

 
(1.0 out of 5 stars)
by IHATEEQLIFE Mar 07, 2017
On hold for hours, they don't cover much in the way of medication means that this is one of the most useless insurance companies out there. The premiums must be cheap because the service is horrible. Avoid these guys like a plague!
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Simply frauds

 
(1.0 out of 5 stars)
by Dee Jan 24, 2017
Their policies are a lot worse than those of other insurance policies, for example: 90 days to submit all claims after you terminate (and who wouldn't). Their systems are archaic and when you call in, nobody knows how to direct you properly. Any employer who is using them is simply trying to go 'el cheapo' on their employees. I lost 1500 because of their policies that they did not disclose until it was too late. Frauds. When I was trying to get my orthotics approved, it was a joke. We went through 3 cycles with Paris Orthotics (the biggest orthotics maker in Vancouver, Canada). They couldn't believe it. Equitable kept rejecting the claim (due to the fact that Paris didn't specify the manufacturing process with enough detail, and I saw the level of detail they prepared! In the end, on the pre-approval form Equitable wouldn't confirm if they will cover the orthotics 'for sure'. Paris Orthotics have been in business for years and never have problems with any Insurance companies. That was until they met Equitable life. In the end, I didn't want to risk $500 so I had my old pair of orthotics fixed (which they didn't cover, at 1/8th of the cost). This was typical. Don't use them, don't buy them.
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Don't Buy from this company

 
(1.0 out of 5 stars)
by Mag Oct 19, 2015
I tried to cancel my insurance from this company and they will not reply to my cancellation request. I had to put a stop payment block in order to stop them taking funds from my account. Will not recommend.
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Very poor communication

 
(2.0 out of 5 stars)
by Peter Jun 29, 2015
Tried to purchase a term Life Insurance with The Equitable. Despite sending a nurse who did a detailed health evaluation (including blood-work), they requested additional information to my Dr. who took over 60 days to respond. Once Equitable got the report, they sent my file to reassurance and then came back saying I had a pending exam (just a regular physical I had pre-booked with my Dr.), so they needed to wait for those results. I tried to explain this was an ordinary annual check-up and that the nurse had already tested me for all the same stuff. Didn't matter. I had the exam done the following week, and the day after I get a letter from the insurance company saying they were closing my file because they didn't get all the requested information. If they manage to screw up the sign-up process, I don't want to imagine what filing a claim and getting paid must be like! Doesn't feel too equitable to me!!!
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N/A

 
(2.5 out of 5 stars)
by lance Jun 13, 2012
Overall I would not hold a policy with this company again. I found that the company did little to no communicating and made customers jump through many hoops and did not provide up front coverage.
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N/A

 
(4.5 out of 5 stars)
by tony_k May 01, 2012
We have three policies, this personal Value Term 100 for $250,000 is superior in premium and product provided.
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Planning to get life insurance to protect your family, including children? Make sure that you get enough coverage. According to studies, it takes about $250,000 in total to raise a child to the age of 18 (and that doesn’t include any post-secondary education costs).