To avoid additional stress due to market fluctuations in the event of the loss of a loved one, assets held in segregated funds will be transferred to the money market fund upon notification of the death of the annuitant or the last successor annuitant.
For situations where a rollover to avoid tax provisions is possible, no transfer will be made. This change takes effect immediately for all contracts.
On death:
- Funds will be automatically transferred by administration to the money market fund upon receipt of notification of the death of the annuitant or the last successor annuitant.
- You will receive a transaction confirmation notifying you of the transfer of assets.
- No transaction confirmation will be sent to the annuitant or the last successor annuitant.
Contract modification
The applicable contract modifications are reflected in riders and the following documents :
- F13-772A-7 | Information Folder and Contract – IAG SRP
- F13-885A_Rider-01 | Information Folder and Contract – My Education+
- F13-1196A | Information folder and contracts – Products not offered for new contracts
- F13-772A | Information folder - IAG SRP
- F13-885A | My education+ Information Folder and contract
No action required
All clients will receive a communication with the December 2022 semi-annual statement mailing.
Questions?
Customer Service – Individual Savings and Retirement
- 1-844-442-4636
- savings@ia.ca
