Monday, February 06, 2012
Assuris Protection
Assuris - Protecting your life insurance
Founded in 1990, Assuris is a not for profit organization that protects Canadian policyholders in the event that their life insurance company should fail.
What if the life insurance company fails?
Your annuity is protected by Assuris (formely known as CompCorp), in case of the failure of the insurance company underwriting your annuity. If your life insurance company fails, your Payout Annuity policy will be transferred to a solvent company.
What are the protection limits?
On transfer, Assuris guarantees that you will retain up to $2,000 per month or 85% of the promised Monthly Income benefit, whichever is higher.
What if the annuity amount exceeds $2,000 per month?
If the amount of your annuity would exceed the limits of coverage, you could consider splitting your purchase over more than one insurance company.
Does LifeAnnuities.com deal with members of Assuris?
Yes, all our annuity policies come from member companies of Assuris.
Which Insurance companies are members of Assuris?
All life insurance companies authorized to sell in Canada are required, by the federal, provincial and territorial regulators, to become members of Assuris.
Click here complete list of member companies.
