GICs & Segregated Funds
INVESTMENT DEPOSIT “GUARANTEES"
How are my investment deposits guaranteed?
How secure is this guarantee?
Deposits with a BANK or TRUST COMPANY
CDIC (Canadian Deposit Insurance Corporation) provides a $100,000 guarantee per account if your funds are invested with a Bank or Trust company that is a participating member of CDIC.
Canadian Deposit Insurance Corporation is a Federally regulated body and only insurers deposits of 5 year terms or less.
For more information on CDIC, go to http://www.cdic.ca/Coverage/Pages/default.aspx?gclid=CPjhxob6-ccCFQtqfgodO48JyA
Deposits with a CREDIT UNION
CUDGC (Credit Union Deposit Guarantee Corporation) provides an unlimited guarantee per account if your funds are invested with a credit union. CUDGC was formed in 1953 to instill confidence in Saskatchewan credit unions.
It is an “in system” regulator that promotes responsible governance by credit unions and promotes the strength and stability of the credit union system. CUDGC only insures deposits of 5 year terms or less.
For more information on CUDGC, go to http://www.cudgc.sk.ca
Deposits with a LIFE INSURANCE COMPANY
ALL Life Insurance companies authorized to sell in Canada, are required by the Federal, Provincial and Territorial regulators to be members of ASSURIS.
Assuris guarantees that you will retain 100% of your Accumulated Value up to $100,000. Deposit type products include accumulation annuities, universal life overflow accounts, premium deposit accounts and dividend deposit accounts.
An Accumulation Annuity is a deposit type product that accumulates value by adding interest to the deposits. The interest rates may be guaranteed for periods such as 1, 3, 5, 7 or 10 years.
If your life insurance company fails, your Accumulation Annuity policy will be transferred to a solvent company. On transfer, Assuris guarantees that you will retain 100% of the accumulated value up to $100,000.
For more information on Assuris, go to https://assuris.ca/how-am-i-protected/
MPIP Segregated Pools
With access to balanced and fixed income asset classes, as well as global opportunities, these 14 segregated pools may be ideal for business owners and professionals who want to separate personal assets from business assets for potential creditor protection. They appeal to conservative investors who want the financial security that segregated fund insurance contracts may provide. Program features include:
- Access to high-conviction, active portfolio management
- Death Benefit and Maturity Guarantees
- Tiered Management Fee Reimbursements and household contract-linking
- A range of contract types to choose from
- Pre-Authorized Chequing (PAC), Scheduled Withdrawal Payments (SWPs)
- Client proposal service
- Comprehensive client reporting
- Marketing support and sales tools
Empire Life Segregated Fund
To learn more click here