What is Genesis?
Genesis universal life insurance is a product that meets your permanent life insurance and savings needs.
Genesis is a flexible product that allows you to save and maximize your estate tax-free, insure your mortgage, protect the value of your business, have access to liquid assets for additional retirement income, deal with the unexpected or bring a project to life.
How does it work?
A portion of the premiums you pay is used to cover the cost of insurance and taxes. The excess in invested in investments that correspond to your investor profile!
Genesis provides protection for your entire life and allows you to customize your coverage with the cost of insurance, the death benefit, the face amount and the premium paid. With insurance adapted to your needs, you can protect your family or your business against the financial burden that results from death.
The savings portion is invested and generates income that accumulates tax-free. iA Financial Group offers a wide range of investment accounts that can meet your needs. Additionally, there is an investment bonus of 0.75% starting in the first year, for all index accounts (except for the Money Market Account and the Smoothed Return Diversified Account (SRDA)).
A product that adapts to your needs
|Costs of insurance (guaranteed)||Age at issue|
|YRT, level||0 to 85|
|Level with 10-year option||0 to 80|
|Level with 15-year option||0 to 70|
|Level with 20-year option||0 to 60|
Genesis offers three death benefit options: face amount only and face amount + fund.
The face amount only option is generally for people who prioritize savings in their insurance policy. The savings portion is an integral part of the face amount; therefore, the face amount remains the same for the life of the policy. Note that this type of death benefit is available for YRT costs of insurance only.
The face amount + fund option is ideal if you want insurance coverage and a tax-free savings fund. The face amount grows over time, as the amounts accumulated in the policy’s savings portion will be added to the benefit paid to your beneficiary. This type of death benefit is available with all Genesis cost of insurance options.
The face amount + fund with wealth maximizer option has the same advantages as the face amount + fund option but is better suited to those seeking to maximize the savings in their insurance policy. This type of death benefit is designed to take maximum advantage of the tax-exempt status of a universal life policy, while keeping the costs of insurance as low as possible. Note that this option is only available with YRT insurance costs.
Like any cash investment, the savings portion of your policy is carefully invested in accounts that correspond to your investor profile!
iA Financial Group offers many advantageous investment options, including:
Guaranteed interest accounts
- 5-year average account
- Fixed-term accounts (1 to 5 years and 10 years)
Market index accounts
- Money market
- Canadian equities
- Global equities
- International equities
- European equities
- U.S. equities
- U.S. equities/DAQ
- Global Allocation Account
Diversified strategy accounts
- Cautious account
- Moderate account
- Balanced account
- Growth account
- Aggressive account
Active management accounts
- Smoothed Return Diversified Account (SRDA) (iA)
- Canadian Bond (iA)
- Diversified (iA)
- Global Diversified (Loomis Sayles)
- Strategic Equity Income (iA)
- Dividend Growth (iA)
- Canadian Equity (Fidelity)
- Global Equity (iA)
- Global Equity (QV)
- Global Diversified Account (iA) (see table below for allocation)
- International Equity (iA)
- European Equity (Fidelity)
- U.S. Dividend Growth (iA)
- Global Health Care (Renaissance)
- Targeted Canadian Equity (iA)
- Canadian Small Cap. Equity (Fidelity)
- Canadian Equity (iA)
- Global Dividend (Dynamic)
- NorthStarTM (Fidelity)
- You pay no policy fees.
- Starting from the first year, an investment bonus of 0.75% is paid into the accumulation fund (except for the Money Market Account and the Smoothed Return Diversified Account (SRDA)), regardless of its performance during the year.
- All excess amounts are paid into a shuttle fund while awaiting transfer into your accumulation fund.