The rebrand follows its acquisition of Retirement Advantage in January 2018.
This reflects the breadth of the company’s product range, which allows homeowners and landlords over 55 to access the value of properties they own, lender said.
Head of marketing and communications at Canada Life Home Finance, Alice Watson, said that home finance products in the UK are booming and the equity release sector is a prime example.
She added: “Existing customers can rest assured that there will be no change to their products or the service they currently receive.
“Innovation is the key to equity release’s future. Central to our offer is listening to advisers and to customers to develop a product range which meets their evolving needs. This approach also includes broader home finance options, such as our over 55 Buy-to-Let and second homes mortgages.”
David Burrowes, chairman of the Equity Release Council (ERC) (pictured), said that 2018 has seen equity release become an integral cog in the wheel of the later life planning process and it is a fitting time for Canada Life to formally join the Equity Release Council’s growing membership.
“Canada Life joining [the ERC] is also a recognition of our shared commitment to quality standards and builds on Retirement Advantage’s contribution to the market, helping more people explore the potential for housing wealth to meet a variety of financial goals at a time of growing social need.”
Doug Brown, Canada Life UK chief executive officer and executive vice-president, said: “We have ambitious plans which build on our heritage and strengths across wealth management, protection, retirement income and annuities and we will be launching innovative products and services which meet the evolving needs of intermediaries and their customers.”