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Assuris | Increased guaranteed levels of protection

October 13, 2023

As of May 25 2023, Assuris has increased the levels of protection on all insurance and annuity products issued by Canadian member insurers. All iA Financial Group clients automatically benefit from this protection.

Here is a table of the protection levels now offered:

 

Savings Assuris Protection

Segregated funds

(Guarantee value at maturity and death)

$100,000
or 90%, if this amount exceeds $100,000

Guaranteed Investment Funds (GIF) and High Interest Savings Account (HISA)

Monthly income

(Life annuity or annuity certain, for example)

$5,000/month

 

Insurance Assuris Maximum Protection
Life insurance $1 million or 90%, whichever is greater; no maximum
Critical illness $250,000

 

Give your clients peace of mind

The protection offered by the Canada Deposit Insurance Corporation (CDIC), which is available to banks, is not as extensive. In an environment where guaranteed investments are attractive because of their high rates, this information could make all the difference to a client hesitating to invest between GIFs and Guaranteed Investment Certificates (GICs).

This is also an additional advantage that segregated funds have over mutual funds.

 

Case study

Let’s say your client invests $200,000 in a GIF and $50,000 in segregated funds in the 75/75 Series at iA Financial Group. Here is a comparison with a client investing the same amount in a bank:

  Amount of coverage
  iA Financial Group Bank
Funds $37,5001 $02
Guaranteed investments $180,0003 $100,0004
Total $217,500 $100,000

 

For more information, please visit the Assuris website.

 


1 $50,000 X 75% = $37,500 (Classic Series 75/75 guarantee)

2 CDIC protection does not apply to stocks, bonds and mutual funds.

3 $200,000 X 90% = $180,000 (90% since amount is greater than $100,000)

4 CDIC protection covers a maximum of $100,000 for this type of investment.

 

Topics : Insurance, Savings, Insurance - Living Benefits

Written by iA

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