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Acronyms used in our correspondence

This list of acronyms is intended to help you navigate our correspondence and understand the content that is presented in your materials.

Acronym	Description
ART/YR	Annual Renewable Term/Yearly Renewable Term
CI	Critical Illness
COI	Cost of Insurance
DB	Death Benefit
DTFD	Deductions To First Death
DTL	Deductions To Last Death
ETI	Extended Term Insurance
Incr. COI	Increasing Cost of insurance
Incr. DB	Increasing Death Benefit
JFTD	Joint First To Die
JLTD	Joint Last To Die
LCOI	Level Cost of Insurance or Level Cost
NC	Non-Convertible
NR	Non-Renewable
PTFD	Premiums to First Death
PTLD	Premiums to last death
R&C	Renewable & Convertible
Return of Dep.	Return of Deposit
RPU	Reduced Paid Up
Sum Ins.	Sum Insured
T100	Term to Age 100

The information provided in this list of acronyms and their specified meanings is intended for general reference purposes only. Please be aware that this list may be updated periodically to reflect new acronyms and other changes. This list may not cover all possible acronyms relevant to your specific context. If you encounter an acronym not included here, please contact ivari at 1-800-846-5970 or [email protected].

Making a life insurance claim

If you’re making a claim on a life insurance policy, it’s most likely because you’ve experienced a personal loss. We understand that this is a challenging time so we want to help make the claims process as quick and as easy as possible.

What you need to know

Step 1: Contact us in any one of the following ways:

Complete and submit our online life claim form.
Email us at [email protected]
Call us at 1-800-846-5970

You’ll need to have this information handy when reporting your claim:

Policy number
Insured’s first and last name
Date of death
Country of death
Cause of death

Step 2: One of our Claims Adjudicators will contact you within 24 hours of receiving the claims details. At that time, we’ll explain the claims requirements and send you any forms that need to be completed either by email or mail. Note: Providing us with your email address will help to expedite this process. The sooner you receive and complete the forms, the sooner we can process your claim. Step 3: When we receive the requested documents and completed forms, we will evaluate your claim and make a decision. Claims for policies under 2 years old are referred to as “contestable claims”. And, while this may sound bad, it really just refers to the fact that the claim will have to go through a routine investigation process to look at the insured’s health history prior to the date of the policy being issued. This is an industry-wide practice that can take a while but the good news is that most of the time everything is just fine and the claim is paid. If you have any immediate questions, please contact us at 1-855-806-5057 or [email protected]

Making a Critical Illness claim

If you are in the position to make a claim on a critical illness policy, it is most likely because you have suffered a serious medical condition. The last thing you need is to deal with a wall of paperwork and confusing information. At ivari, we understand that this is a challenging time so we are here to make the claims process as quick and easy as possible.

What you need to know

Step 1: Contact us in any one of the following ways:

Complete and submit our online CI claim form. CI Claim forms will be emailed to you directly when submitting a claim using the online form.
Email us at [email protected]
Call us at 1-800-846-5970

You’ll need to have this information handy when reporting your claim:

Policy Number
Insured’s first and last name
The diagnosis
The date of the diagnosis

Step 2: When we receive the requested documents and completed forms, we will evaluate your claim. Note: Providing us with your email address will help to expedite this process.

If your policy is less than 2 years old

Claims for policies under 2 years old are referred to as “contestable claims”. And, while this may sound bad, it really just refers to the fact that the claim will have to go through a routine investigation process to look at the insured’s health history prior to the date of the policy being issued. This is an industry-wide practice that can take a while but the good news is that most of the time everything is just fine and the claim is paid. If you have any immediate questions, please contact us at 1-855-806-5057 or [email protected]

How do I update my smoker status?

To change your status from smoker to non-smoker, please contact your advisor who will assist you through this process. If you need help locating your advisor, please contact ivari Customer Service at 1-800-846-5970.

How do I update my banking information?

To set up or change Pre-authorized Debit (PAD) payments with ivari, you have two options:

Complete and submit online.^NEW
You can complete the Pre-Authorized Debit form. The fastest and easiest way to send us your completed and signed forms is through our online tool. By using this tool, forms are sent instantly! Alternately, you can mail your completed forms to: ivari P.O. Box 4241, Station A Toronto, ON M5W 5R3

If you need any help or, require additional information, please contact your advisor or ivari Customer Service at 1-800-846-5970.

How do I update my address, email or telephone number?

You have three options when changing your contact information:

You can complete and submit online.
You can call us directly at 1-800-846-5970
You can complete the Contact Information Change form. The fastest and easiest way to send us your completed and signed forms is through our online tool. By using this tool, forms are sent instantly! Alternately, you can mail your completed forms to: ivari P.O. Box 4241, Station A Toronto, ON M5W 5R3

If you need any help or, require additional information, please contact your advisor or ivari Customer Service at 1-800-846-5970.

How do I transfer the ownership of my policy?

You can transfer the ownership of your ivari insurance policy by completing a Notice of Transfer of Ownership form. For all universal life policies, please contact your advisor who will assist you through this process. If you need help locating your advisor, please contact ivari Customer Service at 1-800-846-5970. The fastest and easiest way to send us your completed and signed forms is through our online tool. By using this tool, forms are sent instantly! Alternately, you can mail your completed forms to: ivari P.O. Box 4241, Station A Toronto, ON M5W 5R3 If you need any help or require additional information, please contact your advisor or ivari Customer Service at 1-800-846-5970. Please be advised that a transfer of ownership may have tax consequences depending on the Owner’s relationship as described in the Income Tax Act. If you need help understanding some of the terms used in the tax section of the form, you can find definitions below.

Definitions

What does it mean by arm’s length?

This type of relationship refers to a relationship between a non-related person as defined in the Income Tax Act section 251(1) and (2).

For an individual, a non-related person can a person’s uncle, aunt, nephew and niece
For a corporation, this means where one person or a group of related individuals has no controlling interest in the corporation. For example a shareholder that directly or indirectly controls < 50% of the corporation or between employee and employer with no controlling interest.

What does it mean by non-arm’s length?

This type of relationship refers to a relationship between related person as defined in the Income Tax Act section 251(1) and (2).

For an individual, a related person means an immediate family member connected by blood, marriage/common-law, or adoption. This excludes uncles, aunts, nephews and nieces
For a corporation, this means where one person or a group of related individuals has a controlling interest in the corporation. For example a shareholder that directly or indirectly controls 50% or more of the corporation.

For more clarification, please refer to the Income Tax Act sections mentioned above or contact your financial advisor.

What does it mean by “opting out from the Income Tax Act automatic rollover under subsection 148(8.1) or 148(8.2)”?

On a transfer of ownership transfer between current or former spouse/common-law, the Income Tax Act allows for an automatic rollover under the sections above which are considered tax deferred if the parties meet the specific requirements (one of them being that both of them have to be a Canadian resident). In some cases, say when it involves a court order, one party may be required to pay an amount to the other. This is when the owners would typically opt out from the provision. If this occurs, they need to provide the amount exchanged between the parties.

How do I pay premiums?

There are three ways for you to make your scheduled premium payments to your existing ivari policy. Learn more.

Pre-Authorized Debit (PAD)
Online banking
Mail

How do I obtain general information about my policy?

You can contact us at 1-800-846-5970.

How do I follow up on a request I sent?

You can email us at [email protected] or call us at 1-800-846-5970 and we’ll be happy to look into it for you.

How do I find the cash value of my policy?

You can contact your advisor or contact us at 1-800-846-5970.

How do I find a form?

All of our forms can be found on our site under Forms and Guides.

How do I file a complaint?

Please view our Customer Complaint Handling Process for more details.

How do I contact my advisor?

If you need help locating your advisor, please contact ivari Customer Service at 1-800-846-5970.

How do I contact ivari?

ivari P.O. Box 4241, Station A Toronto, ON M5W 5R3 Customer Service Toll free: 1-800-846-5970 Email [email protected]

How do I change the advisor on my policy?

You can send us a completed Request for Change of Servicing Representative Form (DCC 369) or a Letter of Direction, signed by the policy owner(s) and the new servicing agent. Be sure to include your policy number(s). The fastest and easiest way to send us your completed and signed forms is through our online tool. By using this tool, forms are sent instantly! Alternately, you can mail your completed forms to: ivari
P.O. Box 4241, Station A Toronto, ON M5W 5R3
Tel: 1-800-846-5970
[email protected]

How do I change or correct my name on my ivari policy?

You can change or correct the name on your policy by completing sections 1 & 10 of the Policy Service form and signing on page 4. Note: A copy of the name change documentation must be submitted. For Corporations: Please attach articles of amalgamation/amendment showing the correct legal name. The fastest and easiest way to send us your completed and signed forms is through our online tool. By using this tool, forms are sent instantly! Alternately, you can mail your completed forms to: ivari P.O. Box 4241, Station A Toronto, ON M5W 5R3 If you need any help or require additional information, please contact your advisor or ivari Customer Service at 1-800-846-5970.

How do I change my term policy into something more permanent?

This is known as a conversion and it will ensure that you have coverage for life. Your advisor will be able to assist with a conversion. If you don’t remember your advisor’s contact information, call us at 1-800-846-5970 and we’ll be able to help you.

How do I change my coverage amount?

To increase or decrease your coverage amount, you’ll need to contact your advisor who would review your financial needs and help you understand the coverage amount that you need. If you don’t remember your advisor’s contact information, call us at 1-800-846-5970 and we’ll be able to help you.

How do I change my beneficiary?

When changing your beneficiary, you must complete the Change of Beneficiary form. This form can be completed in one of two ways:

Online version – complete and sign entirely online*
PDF version – download, print, sign and submit

All policy owners, including any irrevocable beneficiaries, must sign the Change of Beneficiary form. *At this time, only the following provinces accept eSignatures for the Change of Beneficiary form: AB, BC, MB, NB, NL, ON and QC. Clients residing in other provinces will need to download, print, sign, and send the PDF version of this form to ivari through our Send Documents tool. Alternately, you can mail your completed forms to: ivari P.O. Box 4241, Station A Toronto, ON M5W 5R3 If you need any help or, require additional information, please contact your advisor or ivari Customer Service at 1-800-846-5970.

How do I buy a new ivari insurance policy or find an advisor?

Your advisor can help you purchase a new policy. If you do not have an advisor you can contact ivari Customer Service at 1-800-846-5970.

How do I add my spouse to my policy?

Your advisor would be happy to help you with this. If you don’t remember your advisor’s contact information, call us at 1-800-846-5970 and we’ll be able to help you.

How do I add my child to my policy?

Congratulations! If you already have a child rider on your policy, you simply need to send us a signed letter with your child’s name and date of birth. If you need to add a brand new child rider, please contact your advisor. If you don’t remember your advisor’s contact information, call us at 1-800-846-5970 and we’ll be able to help you.

How do I add more coverage or make a change to my existing life policy?

To add more coverage to your policy, or make a change to your existing life policy, please contact your advisor directly. If you need help locating your advisor, please contact ivari Customer service at 1-800-846-5970

Do you accept credit cards for premium payments?

No, we don’t currently. However, there are several other options for you: pre-authorized debit, online banking and cheque through the mail. Learn more

How do I borrow money (take a loan) from my cash value policy?

A policy loan can be requested by completing sections 1, 6 & 7 of the Policy Service form and signing on page 4. Please be advised that a loan against your universal life policy may cause the policy to lapse if it is not adequately funded. As well, this transaction may cause a taxable consequence. Please contact your advisor or ivari Customer Service at 1-800-846-5970 for more information. The fastest and easiest way to send us your completed and signed forms is through our online tool. By using this tool, forms are sent instantly! Alternately, you can mail your completed forms to: ivari P.O. Box 4241, Station A Toronto, ON M5W 5R3

Am I eligible to skip a payment on my universal life policy?

Please contact your advisor or ivari Customer Service at 1-800-846-5970 to determine if your policy has this option.

How do I make a cash withdrawal from my cash value policy?

A withdrawal can be requested by completing sections 1 , 5(a) & 7 of the Policy Service form and signing on page 4. Please be advised that a withdrawal against your universal life policy may cause the policy to lapse if it is not adequately funded. As well, this transaction may cause a taxable consequence. Please contact your advisor or ivari Customer Service at 1-800-846-5970 for more information. The fastest and easiest way to send us your completed and signed forms is through our online tool. By using this tool, forms are sent instantly! Alternately, you can mail your completed forms to: ivari P.O. Box 4241, Station A Toronto, ON M5W 5R3

How do I terminate/cancel my insurance policy if it has no cash value? i.e., a term or critical illness policy

If you would like to cancel your insurance policy with ivari, and the policy has no cash value, please submit a letter of direction including the policy owner(s) and insured(s) names, plus a policy number. All policy owners must sign and, if applicable, irrevocable beneficiaries must also sign. The fastest and easiest way to send us your completed and signed forms is through our online tool. By using this tool, forms are sent instantly! Alternately, you can mail your completed forms to: ivari
P.O. Box 4241, Station A Toronto, ON M5W 5R3

If you need any help or, require additional information, please contact your advisor or ivari Customer Service at 1-800-846-5970.

How do I terminate/cancel my cash value insurance policy?

Before cancelling your valuable insurance policy, we encourage you to speak to your advisor. You may surrender your insurance policy by completing sections 1, 5(b) & 7 of the Policy Service form and signing on page 4. Please be advised that this transaction may cause a taxable consequence. Please contact your advisor or ivari Customer Service at 1-800-846-5970 for more information. The fastest and easiest way to send us your completed and signed forms is through our online tool. By using this tool, forms are sent instantly! Alternately, you can mail your completed forms to: ivari P.O. Box 4241, Station A Toronto, ON M5W 5R3

The COVID-19 vaccine and your life insurance – setting the record straight

There is no truth to the rumours that having taken the COVID-19 vaccination you will not qualify for life insurance or you will be denied benefits from your life insurance policy. All of Canada’s life and health insurers, including ivari, are supportive of Canadians receiving government-approved vaccinations to protect themselves from serious illness and death. Read the statement from Canadian Life and Health Insurance Association (CLHIA) about COVID vaccinations and your life insurance here.

How do I?

Acronyms used in our correspondence

What you need to know

What you need to know

If your policy is less than 2 years old

Definitions

What does it mean by arm’s length?

What does it mean by non-arm’s length?

What does it mean by “opting out from the Income Tax Act automatic rollover under subsection 148(8.1) or 148(8.2)”?

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