In July 2021, CI Global Asset Management announced that the Sentry U.S.
Growth and Income Corporate Class fund was renamed to CI U.S. Equity Income Corporate Class. As such, effective July 29, 2021, ivari updated the name of the Designated Index and the corresponding Managed Index Interest Option to reflect this change as follows:
| ivari UniversalTM, WealthADVANTAGETM & EstateADVANTAGETM | |||
|---|---|---|---|
| Managed Index Interest Option | Designated Index | ||
| PREVIOUS | NEW | PREVIOUS | NEW |
| American Equity Index Interest Option | CI U.S. Equity Income Index Interest Option | Sentry U.S. Growth and Income Corporate Class | CI U.S. Equity Income Corporate Class |
We have since been informed by CI Global Asset Management that this fund will instead be named CI U.S. Equity Corporate Class. Accordingly, effective October 25, 2021, ivari updated the name of the Designated Index and the corresponding Managed Index Interest Option as follows:
| ivari UniversalTM, WealthADVANTAGETM & EstateADVANTAGETM | |||
|---|---|---|---|
| Managed Index Interest Option | Designated Index | ||
| PREVIOUS | NEW | PREVIOUS | NEW |
| CI U.S. Equity Income Index Interest Option | CI U.S. Equity Index Interest Option | CI U.S. Equity Income Corporate Class | CI U.S. Equity Corporate Class |
There are no changes to the investment objective of this fund.
A message will be included in the policyholder’s statement, under the Keeping You Informed section, to let policyholders know about the change.
As well, policy contracts for ivari Universal Life policies issued on or after October 25, 2021 have been edited to reflect the correct fund name.
For any illustration done prior to October 25, 2021, where the policy is still pending on October 25, 2021, please inform your clients of the fund name change/correction. The LifeView illustration tool has been updated to reflect this change.
Published on: October 25, 2021