Additional Benefits

Estate Planning Benefits
IA Clarington GIFs offer powerful estate planning benefits. Here's how they can help you:

Rapid payment of benefits
The value of your investments is paid directly to your beneficiaries, following proof of the claim, without the need to wait for the final settlement of the estate.

Greater estate value
Direct payment to beneficiaries avoids the withdrawal of probate fees from the amounts paid upon death as these amounts are not included in the total settlement of the estate. 1

Creditor Protection
It is possible to protect the assets held inside IA Clarington GIFs from your potential creditors. This is accomplished by designating a "preferred" beneficiary, (such as your spouse or child) which can shelter the investments from your potential creditors and helps to ensure the financial security of your beneficiary. 2

Consumer Protection
The consumer protection organization, Assuris, provides additional protection to IA Clarington GIF policyholders. Assuris ensures the payment of the amounts guaranteed in the contract at maturity or at death. 3 This additional measure of security ensures you have total peace of mind.

  1. Depending on the estate value, probate fees can greatly reduce the amount paid to heirs. Probate fees vary according to province of residence and personal situation.
  2. Provincial legislation may affect the degree to which segregated funds can be used to shield assets from creditors. In addition, certain transfers of assets shortly prior to bankruptcy may be voided by the bankruptcy trustee or by a creditor.
  3. Certain maximums apply to the Assuris protection.

The advantages of mutual funds, and more.

Segregated funds are an insurance product, combining a mutual fund-like investment with the protection of an insurance policy.

All the advantages of Mutual Funds ...

IA Clarington GIFs Mutual Funds

Pooling of Investments

Y

Y

Market-based returns

Y

Y

Investment in registered and non-registered contracts

Y

Y

Wide range of fund choices

Y

Y

Investment flexibility

Y

Y

Access to invested capital

Y

Y

Leading investment managers

Y

Y

Daily unit values

Y

Y

Ability to transfer between funds without fees

Y

Y

Ability to make withdrawals without fees

Y

Y

... and more.

IA Clarington GIFs Mutual Funds

Guarantee applicable at maturity or death on deposits  made

Y

N

Protection of gains earned*

Y

N

Protection of investments against potential creditors*

Y

N

Protection of estate value at death (no probate fees)*

Y

N

Consumer protection*

Y

N

* subject to certain limitations and provincial legislation