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What is iA Participating Life Insurance (iAPAR)?
Combining growth, flexibility and stability, iA Participating Life Insurance (iA PAR) is permanent life insurance that includes basic coverage for which premiums, the initial face amount and the surrender value are fully guaranteed.
The main advantage of iA PAR are the dividends that you can receive and use to increase the death benefit and total cash surrender value. So, in addition to protecting and growing your estate, iA PAR gives you the opportunity to access a source of liquidity and diversify your investments.
Dividend scale
We are pleased to announce that the dividend scale, including the interest rate of 6,25% is being increased for 2024.
How does it work?
iA allows you to choose from different payment terms to meet your specific needs and expectations. In all cases, the premiums are leveled (fixed) and guaranteed. These premiums are payable over a period of 10 years, 20 years or until the age of 100.
Regarding the dividends you can receive, the amount is based on a scale rate that varies annually. Depending on your choice, your dividends can be used to:
- Increase your paid-up insurance1
- Lower your annual premium
- Receive a cash amount, or
- Invest in an investment account that earns interest
Should your needs evolve, you can change your option at any time without having to fulfill any medical requirements.
1 Paid-up insurance: Paid-up insurance: Permanent life insurance where no more premiums need to be paid. Acquired through the payment of dividends or the additional deposit option.
Depending on your financial goals, two versions of iA PAR are available:
The iA PAR Estate Solution
The iA PAR Estate version helps you maximize your wealth by optimizing the long-term growth of the total surrender value and the total amount of life insurance.
This is an ideal solution if you are:
- A parent or grandparents who want to provide a solid financial foundation for their family with paid-up permanent life insurance that continues to grow over the long term
- A professional with strong income growth who has surplus cash and wants to maximize their long-term wealth in a tax-efficient manner
- A business owner looking for a flexible permanent insurance solution with access to liquidity
Advantages
- Maximise the growth of your wealth over the course of your lifetime
- Limit the tax impact on your estate at the time of your death
- Generate a long-term source of liquidity
- Provide a solid financial foundation for your children or grandchildren and protect their future insurability
The iA PAR Wealth Solution
The iA PAR Wealth version helps you maximize short-term growth by maximizing the total cash surrender value in the early years of your policy, while allowing for long-term growth of your estate.
This is an ideal solution if you are:
- An incorporated professional who wants to generate a quick return on their investment and ensure a tax-efficient transfer of wealth
- A shareholder of a corporation who wants to diversify their assets and reduce taxes while meeting their insurance needs or those of the corporation
- A business owner who wants to benefit from high surrender values to finance an investment project while securing the value of their estate
Advantages
- Access a source of short-term liquidity to be reinvested in a corporation or in income-earning assets, for example
- Generate a quick return on investment
- Reinforce your corporation’s balance sheet by diversifying your assets
- Ensure the growth of your wealth and net estate value over the course of your life.
A product that adapts to your needs
Dividend options
Four options are available for you to benefit from your dividends, based on your objectives. You can modify the option you have selected at any time, based on your changing needs.
OPTION 1: Paid-up additions
This option puts dividends towards the purchase of paid-up insurance, which favours the growth of your estate. This option maximizes the coverage amount and increases the total cash surrender value.
OPTION 2: Annual premium reduction
This option allows lets you use your dividends to reduce the amount of your next annual premium without affecting the amount of the death benefit to be paid to your beneficiaries.
OPTION 3: Payable in cash
This option allows you to receive your annual dividends in cash. You therefore benefit directly from this additional source of liquidity, while maintaining the cash value of your policy in the event of death. This option could have tax consequences.
OPTION 4: Deposit with interest
This option allows you to receive your annual dividends in a savings account managed by iA Financial Group. This savings account generates interest that is taxed at the end of the year. This option could have tax consequences.
Additional deposit option
If you choose to use your dividends to increase your paid-up insurance, you can also make additional deposits to your policy to purchase additional paid-up insurance coverage through the additional deposit option. This growth accelerator allows you to increase the life insurance amount and the total cash value even faster.
However, the additional deposit option is not offered with the 10-year payment option.
Access to liquidity
Annual dividends and the cash surrender value of an iA PAR policy are two ways you can obtain cash. For instance, a partial withdrawal, a policy loan or a loan from a financial institution allows you to access the cash surender value1.
1Certain conditions apply.
Participating account
Dividends are amounts which could be paid to you annually, on the policy anniversary. The amount of the dividends is calculated based on returns in the various asset classes of the participating account as well as other factors such as mortality, lapse rate and operating costs. The participating account groups all the funds paid by participating policyholders. This account is managed by iA Investment Management to maximize long-term returns.
Thanks to annual dividends, you’ll benefit from an advantageous solution that could maximize the growth of your estate. Dividends may vary annually and are not guaranteed.
Account overview for participating contracts
- December 2023 PDF (769.64 kB)
- September 2023 PDF (672.94 kB)
- June 2023 PDF (412.74 kB)
- March 2023 PDF (687.44 kB)
- December 2022 PDF (687.28 kB)
- September 2022 PDF (1.45 MB)
- June 2022 PDF (671.81 kB)
- March 2022 PDF (1.58 MB)
- December 2021 PDF (670.15 kB)
- September 2021 PDF (5.74 MB)
- June 2021 PDF (5.74 MB)
- December 2020 PDF (2.02 MB)
- September 2020 PDF (2.02 MB)
Dividend Scale Announcement
We are pleased to announce that following a review of the dividend scale, the interest rate will be increased from 6% to 6.25% in 2024 for our iA Participating life insurance product (iA PAR). Each year, the board of directors determines the amount of the dividend to be paid in accordance with the dividend policy. This policy governs the fair distribution of dividends to clients. The dividend amount is set according to the dividend scale, which varies based on investment return, lapse rate, mortality and expenses related to the participating policy block of business.
Additional information
You can maximize the life insurance amount and the cash surrender value by paying your premium faster, in 10 or 20 years. The Payable to age 100 option is also available.
Age at issue
| Payable 10 years | Payable 20 years | Payable up to 100 years | |
|---|---|---|---|
| Individual | 0 to 85 years | 0 to 80 years | 0 to 75 years |
| Joint-last-to-die | 15 to 85 years1 | 15 to 80 years1 | 15 to 75 years1 |
1 The minimum age of both insureds is 15 years and the maximum is the age indicated. The resulting equivalent age must also be lower than the maximum age indicated.
Purchasing iA PAR couldn’t be easier! You can get coverage of up to one million dollars by answering just a few simple health questions and you may qualify for instant acceptance with no medical requirements2!
A simple, quick and hassle-free process. iA Financial Group sets the standard for the quick purchase of participating life insurance!
2 Medical requirements are not systematic for clients aged 18 to 50.
The following additional benefits and riders are available to complement your insurance coverage:
- Term life insurance coverage for periods of 10 to 30 years
- Waiver of premiums in the event of disability
- Accidental death coverage
- Life insurance to cover your child
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OUR ADVICE
- Participating life insurance
- The importance of taking out life insurance
- The importance of life insurance for children
- The benefits of mortgage insurance
