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However, 100% protection is provided by
Assuris for amounts below the following cash values: monthly income policies up to $ 5,000, health expenses policies up to $ 250,000, death benefits on policies up to $ 1,000,000, and cash values up to $ 100,000.
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Every life insurer that is authorized to sell policies in Canada is required by the various provincial, territorial, and federal regulators to become a member of
Assuris. Founded in 1990 as CompCorp, it was renamed to Assuris in 2005.
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105:. It is designed to allow a block of policies to be transferred to a solvent company in which the policies will continue to be honoured (similar to the
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states, "Assuris' mission is to mitigate the impact on
Canadian policyholders of the financial failure of a life insurance company."
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monthly income, health expense, death benefits, and cash values policyholders receive at least 85% of their promised benefits.
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The last insurer to have its policies guaranteed by
Assuris was Union of Canada Life.
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190:"Assuris - Protection for your life insurance products"
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101:instruments if a life insurance company becomes
142:Canadian Life and Health Insurance Association
93:under Canadian federal regulation to protect
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275:Non-profit organizations based in Toronto
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221:https://assuris.ca/how-am-i-protected/
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107:Canada Deposit Insurance Corporation
120:Policies are protected as follows:
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290:1990 establishments in Ontario
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233:"Assuris - Past Insolvencies"
109:for deposit accounts). The
40:; 34 years ago
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91:nonprofit organization
80:CompCorp (1990-2005)
285:Insurance in Canada
168:www.osfi-bsif.gc.ca
161:"Supervisory Board"
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16:(Redirected from
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258:Official website
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236:. Retrieved
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193:. Retrieved
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172:. Retrieved
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53:Headquarters
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269:Categories
148:References
238:April 17,
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174:April 17,
103:insolvent
35:Formation
210:CompCorp
136:See also
18:CompCorp
87:Assuris
66:assuris
61:Website
56:Toronto
43: (
30:Assuris
164:(PDF)
89:is a
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45:1990
38:1990
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68:.ca
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