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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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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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179:"Assuris - Protection for your life insurance products"
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90:instruments if a life insurance company becomes
131:Canadian Life and Health Insurance Association
82:under Canadian federal regulation to protect
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264:Non-profit organizations based in Toronto
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210:https://assuris.ca/how-am-i-protected/
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96:Canada Deposit Insurance Corporation
109:Policies are protected as follows:
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279:1990 establishments in Ontario
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222:"Assuris - Past Insolvencies"
98:for deposit accounts). The
29:; 34 years ago
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80:nonprofit organization
69:CompCorp (1990-2005)
274:Insurance in Canada
157:www.osfi-bsif.gc.ca
150:"Supervisory Board"
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247:Official website
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269:Life insurance
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225:. Retrieved
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182:. Retrieved
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161:. Retrieved
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42:Headquarters
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258:Categories
137:References
227:April 17,
184:April 17,
163:April 17,
92:insolvent
24:Formation
199:CompCorp
125:See also
76:Assuris
55:assuris
50:Website
45:Toronto
32: (
19:Assuris
153:(PDF)
78:is a
229:2023
186:2023
165:2023
34:1990
27:1990
86:of
57:.ca
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