Confidently Protecting Your Canadian Life Insurance & Investments

Here’s what every Canadian policyholder should know about keeping your policy and cash value protected if your insurance company ever becomes insolvent.

Understand Your Protection

The Safety Net: How Canadian Policyholders Are Protected

Canada's insurance industry is guided by a multi-layered regulatory framework that helps keep insurers financially strong and gives consumers added confidence.

Federal Oversight

The Office of the Superintendent of Financial Institutions (OSFI) keeps an eye on federally regulated insurers to support financial soundness.

Provincial Regulators

Each province helps guide solvency and market conduct, supporting strong local consumer protections.

CLHIA Standards

The Canadian Life and Health Insurance Association helps promote industry standards that support stability across member companies.

What Happens if an Insurer Fails?

The main takeaway is steady coverage for policyholders. Regulators work to restore stability first, then arrange a transfer if that’s the best path — and insolvency is kept as a last-resort backstop.

Assuris: Your Protection with Confidence

Assuris is a non-profit, industry-funded organization that serves as Canada's policyholder safety net — automatically helping protect you if your insurer ever needs support.

90%

Death Benefit

Assuris helps preserve at least 90% of your life insurance death benefit.

90%

Cash Surrender Value

Up to 90% of your accessible cash value is protected, giving you added peace of mind.

$200K

Minimum Floor

Assuris provides a minimum of $200,000 in death benefit protection per policyholder.

What to Do If Your Insurer Fails

If your insurance company is declared insolvent, taking swift, informed action can help you stay on top of your coverage and make confident decisions about your investments.

Stay Informed

Keep an eye on communications from your insurer and provincial regulators. They’ll share the next steps and any important timelines.

Contact Assuris

Assuris can help guide you through the protection process. Visit assuris.ca or call their helpline for direct support.

Consult a Licensed Advisor

A licensed insurance advisor can help you explore policy transfers and shape your next coverage strategy.

Securing Your Financial Future: Proactive Steps

The best protection starts before an insurer fails. These habits help you stay prepared and keep your financial plan resilient.

Choose Reputable Insurers

Look for companies with strong financial ratings from agencies like AM Best or DBRS Morningstar. (Ivari has an excellent "A-" rating)