Our Mission

Assuris’ mission is to protect policyholders if their life insurance company fails.

Protection at a Glance

Assuris provides protection to Canadian policyholders for virtually all 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:

Benefits

Protection

or 85%
whichever is higher

Death Benefit $200,000
Health Expense $60,000
Monthly Income $2,000/month
Cash Values $60,000

Accumulated 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.

Benefits

Protection

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.