Canada Life Equity Release (Dec 2021)

Canada Life Lifetime Mortgage Review

Contributors: Nicola Date, Katherine Read. Edited by Rachel Wait & Reviewed by Francis Hui

Are You Considering Canada Life Equity Release? What are the Pros, Cons & Costs? Discover If Canada Life Lifetime Mortgage Schemes are for You.

Before You Start Reading...

Let's See How Much You Can Release 👇

 

Equity Release Calculator

Value of Your Home?

50000

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🔒 100% Secure & Fast. Takes Just 8 Seconds.

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Canada Life Review

I think you’ll agree with me when I say:

It’s REALLY hard to choose the best equity release provider with all the choices available.

Or is it?

Is Canada Life equity release the best?

The companies we profile, are the best in the business to help you unlock the cash tied into your home.

We’re here to help you:
Let’s find out NOW!

As experts in the equity release field (we’ve reviewed more than 250 schemes!), we’ve combed the market, researched all equity release service providers and narrowed it down to who’s on top.

Is Canada Life the ideal equity release loan company to assist you and your family?

What’s Equity Release?

An equity release mortgage is, in a nutshell, a loan plus interest that is paid back to the lender when the homeowner passes away or goes into permanent care. The homeowner’s family usually pays back the cash released, and the interest incurred, from the sale of the home in question.

Learn More: What’s Equity Release?

How Does Equity Release Work?

Equity release is available for individuals or couples over the age of 55, with the youngest homeowner’s age determining the amount of equity that can be released. It is important to note that some equity release schemes may require the homeowner to be 60 or older.

Learn More: How Does Equity Release Work?

We’ve summed up the most important information about the topic in this quick video.

What About the Canada Life Equity Release Calculator?

Before you consider using the Canada Life calculator, please take note.

Our providers can almost always match & BEAT any existing equity release quote that you find through Canada Life. So first use this calculator below & see how much you can release.

How Much Can You Release?

Use the FREE Calculator 👇

 

Equity Release Calculator

Value of Your Home?

50000

Drag me

🔒 100% Secure & Fast. Takes Just 8 Seconds.

timer

It's VERY FAST and, takes just 8 seconds

Canada Life Reviews & Ratings

Canada Life Complaints

If you’re unhappy with Canada Life and would like to make a complaint then the best way to do this is reach out directly on their website. They care about their customers and will forward you to the relevant department. The alternative is to use a review site such as Trustpilot or Feefo and leave a review and they’ll quickly reach out to you to assist.

Are Canada Life Equity Release Any Good?

PROS

  • There are plenty of products to choose from.
  • You are given plenty of opportunities to make early repayments without facing a charge.
  • You can add a reserve fund to draw down extra cash from.
  • No danger of falling into negative equity.
  • All lifetime mortgages are regulated by the FCA

CONS

  • Interest can compound quickly, leaving little for your heirs after you die.
Editor’s Rating: 4.89

Canada Life's Equity Release Plans & Lifetime Mortgage Schemes

Are you looking for a specific equity release scheme? These are some of the schemes offered or covered by Canada Life.

Not what you're looking for?

Have a look at all the equity release schemes available on the market, with our easy-to-use table or compare the equity release rates!

Who Are Canada Life?

Canada Life Financial Corporation is a Canadian firm that provides group and individual life, health, and disability insurance.1 After rejecting a hostile acquisition proposal by rival Manulife, it was bought by The Great-West Life Assurance Company in 2003.

Individuals, families, and businesses can benefit from Canada Life’s retirement, investment, and protection services. It has 3.4 million customers and 470,000 pension annuities in place, and its investments section manages over £38.3 billion in stocks, fixed income, and property, as well as a broad multi-asset range. Through financial advisers, Canada Life markets goods to individuals and corporations in the United Kingdom.

Canada Life is a subsidiary of the Great-West Lifeco business, which operates in Canada, the United States, Ireland, and Germany. It’s been in business in the UK since 1903 and now employs over 1,200 people.

Canada Life is dedicated to providing a fair and inclusive workplace where everyone feels valued, has a voice, and has an equal chance to achieve and grow.

Aside from its fantastic goods and services, the company is also committed to developing the communities in which they live, work, and do business. Shelter, Help Bristol’s Homeless, and Histio UK were among the organisations and communities the equity release business donated to in 2019.

As a company, its ultimate objective is to be a market leader in retirement, investment, and protection goods.

Regulators

  • Financial Conduct Authority
  • Financial Services Authority

Canada Life Info

Got Questions About Canada Life& Lifetime Mortgages? Check These First

Is Canada Life A Member of the Equity Release Council?

What Are Canada Life's Interest Rates?

Who Owns Canada Life?

Where is Canada Life Located?

Before You Go...

Let's See How Much You Can Release 👇

 

Equity Release Calculator

Value of Your Home?

50000

Drag me

🔒 100% Secure & Fast. Takes Just 8 Seconds.

As Featured In
yahoofinance marketwatch

Conclusion

If you’re anything like us, you skipped to the end anyway.

So here’s the scoop – our intention is to help you by finding the best lifetime mortgage so that you can spend the money on something that you really want, rather than on a high tax bill.

Editorial Note: This content has been independently collected by the SovereignBoss advisor team and is offered on a non-advised basis. Sovereignboss may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.

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rachel w

Rachel Wait
Personal Finance Journalist

Rachel is an experienced finance journalist and editor with a particular interest in personal finance and consumer affairs. She has vast experience writing about money issues, property, insurance, and consumer affairs, and you’ll find her articles regularly featured in top media and newspaper publications.
john lawson profile.jpg

Written by
John Lawson
Founder SovereignBoss

John is passionate about education and has made it his life-long mission to assist UK citizens on their future financial options, with a specialist interest in equity release, and SovereignBoss is the natural extension of this passion.
francis

Reviewed by
Francis Hui
Senior Risk Manager

Having held various high-level roles across the industry, Francis is truly an expert in aiding UK citizens in their financial decisions and risk analysis. His unique insight and statistical knowledge make him the perfect person to help you take your financial future to the next level.
kath icon

Katherine Read
Consumer Affairs Writer

Since joining the editorial team at SovereignBoss, Katherine has become focused on bringing transparency to finances and opportunities for those approaching retirement age. She writes on the topics of equity release, home reversion, and mortgages.
nicola

Nicola Date
Writer & Journalist

Nicola is a financial writer for SovereignBoss and is passionate about the opportunities that equity release can open up for homeowners. Her extensive business experience and deep understanding of the industry means that she’s always up-to-date with the latest developments.

See How Much You Can Release 👇

Use the QUICK form below.

 

Equity Release Calculator

Value of Your Home?

50000

Drag me

🔒 100% Secure & Fast. Takes Just 8 Seconds.

As Featured In
yahoofinance marketwatch