Assuris’ mission is to protect policyholders if their life insurance company fails.
Protection at a Glance
Assuris provides protection to Canadian policyholders for benefits under products issued by life insurance companies in Canada.
Death Benefits, Monthly Income, Health Expense, and Cash Values
If a member life insurance company fails, Assuris will seek to transfer the policies to a solvent company. Assuris guarantees that policyholders will retain at least 85% of the insurance benefits they were promised. Insurance benefits include Death, Monthly Income, Health Expense and Cash Values. Assuris provides 100% protection when benefits are below certain dollar values:
Assuris will seek to transfer investment products to a solvent company. For these products, Assuris guarantees that policyholders will retain 100% of their Accumulated Value up to a maximum of $100,000. Investment products include accumulation annuities, universal life overflow accounts and dividend deposit accounts.
- Accumulated Value
- Up to $100,000
Assuris provides separate protection for individual, group, registered and non-registered benefits. Assuris also provides separate protection for individual Tax-Free Savings Accounts and group Tax-Free Savings Accounts invested in accumulation annuities.