Examples of Tax Free Savings Account (TFSA) Protection
Example 1
Benefit | Original Policy
when Company Fails | Explanation | Assuris Protection
when Company Fails |
Accumulated Value
(in TFSA)
| $2,500 |
Since the amount is below $100,000, the Accumulated Value is fully protected.
| $2,500 |
If the liquidator, appointed to manage the company failure, achieves a greater return on the policy than the Assuris protection, your benefits will be adjusted to the greater of either:
- The Assuris protection or;
- The amount recovered by the liquidator.