Segregated Funds
This feature secures a portion of the investor's money at maturity or death.
What is a guarantee?
This option credits interest daily and provides a low, non-guaranteed interest rate.
What is the DIO (Daily interest option)?
This term refers to the person whose life is used to determine annuity payments.
What is an annuitant?
This plan type is used to save for retirement.
What is an RRSP?
This system houses all segregated funds/GIOs.
What is Unitrax?
This feature allows clients to automatically contribute to their policies on a pre-set schedule.
What is a PAC (Pre-authorized contributions)?
This option locks in a specific interest rate for a chosen term.
What is a GIO (Guaranteed Interest Option)?
If an annuitant dies during this period, remaining payments go to the beneficiary.
What is the guarantee period?
To withdraw money from this plan you must "unlock" it first.
What is a LIRA?
This system provides a comprehensive view of all policies held by a client.
What is Co-Pilot?
This load option has a fee schedule of 6 or 7 years.
What is a DSC fee?
This is the maximum term length for a GIO.
What is 120 months (10 years)?
This annuity option is based on completing a fixed payment schedule rather than the annuitant's lifetime.
What is a term certain annuity?
Registered policies are subject to this at the time of withdrawal/redemption.
What are withholding taxes?
This system is used to follow up on requests & forms received.
What is OnBase?
A DCA is also known as this.
What is an auto-switch?
The minimum amount required to invest in a GIO.
What is $500?
A client purchases an annuity at age 55 but does not plan to receive income until age 65. The 10 years in between are known as this.
What is a deferral period?
Every year, the Federal government decides the contribution limit on this plan type.
What is a TFSA?
Another name for the GWL mainframe.
GPA
This option must be chosen at the time of application and is only available on policies with a 100/100 guarantee.
What is a maturity guarantee reset option?
The fee to remove money from a GIO before the term is over.
What is MVA (Market value adjustment) / ECC (Early cash out cost)?
A 75-year-old and a 60-year-old purchase identical annuities with the same premium. This client will typically receive the higher income payment.
Who is the 75-year-old client?
When a policy matures, it must undergo this process to move into its next stage.
What is conversion?
This system used by staff and advisors is only available for advice Canada aligned policies.
What is investment centre?