LLQP (Life Licence Qualification Program) Practice Exam · Question
If a life insurance company becomes insolvent, what is the level of protection provided by Assuris for segregated fund guarantees?
Assuris provides protection for Canadian policyholders if their life insurance company fails. For segregated funds, Assuris guarantees that policyholders will r
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Question: If a life insurance company becomes insolvent, what is the level of protection provided by Assuris for segregated fund guarantees?
Answer options:
- 100% of the market value of the fund.
- 75% of the total premiums paid. ✅ 85% of the promised death and maturity guarantees.
- $100,000 across all accounts.
Correct answer: 85% of the promised death and maturity guarantees.
Explanation: Assuris provides protection for Canadian policyholders if their life insurance company fails. For segregated funds, Assuris guarantees that policyholders will receive at least 85% of the promised death and maturity guarantees.
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- A life insurance policy that offers lifelong coverage, a guaranteed death benefit, and a savings component tha
- Group benefits in Canada commonly include:
- Sarah, a 35-year-old marketing professional in Ontario, purchases a participating whole life insurance policy
- Mark, a 45-year-old business owner in British Columbia, has a Universal Life policy with a Level Cost of Insur
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