We have been informed by CI Investment Inc. of fund name changes that impact some of our Managed Index Interest Options. There are no changes to the investment objectives of these funds.
In July 2021, the Designated Indices of the below Managed Index Interest Options underwent a name change. Accordingly, effective on or about July 29, 2021, the names of the corresponding Managed Index Interest Options were updated by ivari to reflect these changes as follows:
| ivari UniversalTM, WealthADVANTAGETM & EstateADVANTAGETM | |||
|---|---|---|---|
| Managed Index Interest Option | Designated Index | ||
| PREVIOUS | NEW | PREVIOUS | NEW |
| CI American Value Index Interest Option | CI U.S. Stock Selection Index Interest Option | CI American Value Fund | CI U.S. Stock Selection Fund |
| CI Canadian Small/Mid Cap Index Interest Option | CI Canadian Small/Mid Cap Managed Index Interest Option | CI Canadian Small/Mid Cap Fund | CI Canadian Small/Mid Cap Managed Fund |
| 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 |
| CI Signature Select Canadian Index Interest Option | CI Select Canadian Equity Index Interest Option | CI Signature Select Canadian Fund | CI Select Canadian Equity Fund |
A message will be included in the policyholder’s statement, under the Keeping You Informed section, to let policyholders know about these changes.
As well, policy contracts for ivari Universal Life policies issued on or after July 29, 2021 have been edited to reflect the new fund names.
For any illustration done prior to July 29 where the policy is still pending on July 29, 2021, please inform your clients of the fund name changes. The LifeView illustration tool has been updated to reflect these changes.
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Published on: July 29, 2021