AssurisProtecting your life insurance

Who is Assuris?

Founded in 1990, Assuris is the not for profit corporation, funded by the life insurance industry, that protects Canadian policyholders against loss of benefits in the event that their life insurance company should fail.

Our Mission

Assuris' mission is to mitigate the impact on Canadian policyholders of the financial failure of a life insurance company. We work in partnership with regulators on any necessary interventions, seeking to both minimize long-term costs and preserve consumer perceptions of industry strength

Who is a member of Assuris ?

All life insurance companies who are authorized to sell insurance policies in Canada are required by the federal, provincial and territorial regulators to become a member of Assuris

* The complete member list is available on www.assuris.ca

Why is Assuris Talking to You?

If a life insurance company should fail financial advisors need to:– provide reassurance to their clients– understand Assuris’ protection

Financial advisors are on the “front line” with

policyholders

Don’t sell the companies products?

You will still be required to…

• Reassure your clients on– their policy;– the stability of the industry.

Assuris’ Responsibility to AdvisorsAssuris is committed

to:• Educate financial advisors

on Assuris’ protection• Provide appropriate

sources of information– brochure– web site– Assuris Information

Centre 1-866-878-1225– info@assuris.ca

The Tidal Wave… aka Insolvency

“Good Standing”

Life Insurance Company

Life Insurance Company

“All Aboard”

Our Primary Role

•Protect Canadian policyholders from devastating financial loss

•Work with liquidator to protect the interests of policyholders

•Work in partnership with regulators

Our Secondary Role

• Minimize losses in an insolvency

• Preserve consumer perceptions of the strength of the industry– Confidence in the industry– Confidence in the Canadian financial

system

• Provide a credible protection plan for Canadian policyholders

History of protecting policyholders

1992 - Les Coopérants−Policyholders were fully protected

1994 - Confederation Life −Policyholders were fully

protected

1993 - Sovereign Life −96% of policyholders

recovered 100% of their benefits

−Remaining 4% retained at least 90% of their benefits

In the Event of an InsolvencyWhat do you tell your clients?

• Continue to pay their premiums

• The liquidator will contact them directly to inform them on how their respective benefits are protected by Assuris

• It is not necessary to file a claim with Assuris

The Assuris Promise

For benefits unique tothe life insurance industry

Assuris guarantees that policyholders will recover at least 85% of their promised benefits

Assuris’ Protection

Death Benefit $200,000 or 85%

Health Expense $60,000 or 85%

Monthly Income $2,000/mth or 85%

Cash Values $60,000 or 85%

For promised benefits that are below certain dollar values, Assuris provides 100% protection

Death Benefit Example

Term Life

Assuris AdjustedExample Sum Insured Protection Benefit

Policy 1 $150,000 $200,000 $150,000

Policy 2 $1,000,000 85% $850,000

Policyholder Protection

This applies to Accumulation Annuitiesand other deposit type products such as:• Universal life overflow accounts• Dividend deposit accounts

Accumulated Value benefits are 100% protected by Assuris up to $100,000

Accumulated Value Example

Deferred Annuity

Assuris AdjustedExample Sum Insured Protection Benefit

Policy 1 $75,000 $100,000 $75,000

Policy 2 $150,000 $100,000 $100,000

Structure of Protection

• Products issued by a life insurance company may contain multiple benefits therefore Assuris’ coverage applies to product benefits

• Assuris protects:

– Canadian citizens or residents

– Policies in all currencies

Structure of Protection

Benefits similar in nature• All benefits similar in nature issued by the

same life insurance company are added together– Individual and group – Registered and non-registered – Individual and group Tax Free Savings Account

• Individual and group Tax Free Savings Accounts invested in accumulation annuities are protected separately

Summary of ProtectionIndividual Registered

Individual

Non-Registered

Group Registered

Group

Non-Registered

Individual Tax Free Savings Account

Group Tax Free Savings Account

Death Benefit X X

Health Expense X X

Monthly Income X X X X

Cash

Values X X X X

Accumulated Values X X X X X X

85%

100%

For more information

Assuris Information Centre 1-866-878-1225

Email info@assuris.ca Response within 24-48

hoursAssuris Brochure

Free of chargeAvailable on our web siteContact Assuris Information CentreEmail

For more information

To receive regular updates on how your clients are protected

Send us an email at info@assuris.ca