Every now and then a client will express concern regarding life insurance companies. In the last number of years we have seen a lot of press regarding U.S. insurance companies going bankrupt. In Canada, this has been very rare but it has happened.
So, what happens to a policyholder if the company they are insured with becomes insolvent?
Here in Canada we have an industry funded (and government legislated) association called Assuris. In a sense, it is insurance for insurance companies. Policyholders can be assured that they are protected by many guarantees on the different types of life and health insurance contracts they own.
* Life insurance arranged through Zanen Financial Corporation and/or HUB Financial Inc.