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%
|
| 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.