Assuris

Assuris

Do not worry! We have Assuris ( previously called CompCorp).It is a non-profit federal organization that protects canadian life insurance policy owners from losing their benefits if an Assuris member becomes insolvent or bankrupt. Assuris is the insurance industry’s version of the canadian Deposit Insurance Corporation ( CDIC ), which protects certains assets that an investor might have in a bank.

What happens if the company becomes insolvent ( or goes under) ?

Policyowners do not have to apply to Assuris if their insurance company becomes insolvent. They are covered automatically.

We as brokers work with companies that are members of Assuris so our clients’ peace of mind is established.

We at YourInsuranceGuy.ca are experts in explaining the the various types of insurances that could protect the entire family. Please feel free to contact us at aman@yourinsuranceguy.ca or at 1 416 509 2540. Please visit us for a no obligation quote or advice.

 

Life Insurance Contract : features and requirements

Requirements of a Standard Insurance Contract (Standard legal Contract)

Need for a Valid Offer and Acceptance: The client initiates the insurance process by submitting the application. The insurance company decides whether it will offer the policy to the client and what premium will it require.  The client has the option of accepting or declining the offer.

 

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