The purpose of this article is to discuss in details, all about “iA Financial Group” which is a Canadian insurance company. Therefore, to do this, we need to look into these subtopics: Overview Of iA Financial Group, iA Financial Group Companies, Functions Of The iA Financial Group, iA Life Insurance, Benefits Of The iA Financial Group Life Insurance and Types Of The iA Financial Group Life Insurance.
Now, let’s introduce the topic properly.
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Overview Of iA Financial Group
There are various insurance companies in Canada, but this particular insurance company is one that is unique. It stands among the biggest insurance and wealth management groups in Canada. Also, it stands amongst the largest public companies in Canada. Due to its expansion, it has a branch in the United States. This insurance company is more or less a daughter company of the iA Financial Corporation Inc.
iA Financial Group is a public company that functions as a business corporation (Quebec). It runs financial and insurance services. Meanwhile, it came into existence in 1892 through Hormidas Laporte and Bernard Leonard. The head office is located at 1080 Grande Allée Ouest Quebec City, Quebec G1K 7M3, Canada.
The company is under the leadership of Denis Ricard who is the President and CEO. Some of the insurance services rendered by the iA Financial Group are: Individual insurance, individual wealth management, group insurance, group savings and retirement, dealer services, general insurance (auto and home. Meanwhile, it is on record that this insurance company has a record of 8,300 employees as at March 2022.
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iA Financial Group Companies
Individual Insurance
- Industrial Alliance Insurance and Financial Services Inc.
- PPI Management Inc.
- Michel Rhéaume et Associés ltée
Group Insurance
- Industrial Alliance Insurance and Financial Services Inc. (employee plans and special market solutions)
- PPI Management Inc.
Individual Wealth Management
- Industrial Alliance Insurance and Financial Services Inc.
- iA Private Wealth Investment Inc.
- iA Clarington Investments Inc.
- Investia Financial Services Inc.
- Industrial Alliance Trust Inc. (as trustee for several registered plans)
- Industrial Alliance Investment Management Inc.
- PPI Management Inc.
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Group Savings And Retirement
- Industrial Alliance Insurance and Financial Services Inc.
Dealer Services
- Industrial Alliance Insurance and Financial Services Inc.
- SAL Marketing Inc.
- National Warranties MRWV Limited
- Industrial Alliance Pacific General Insurance Corporation
- WGI Service Plan Division Inc.
- WGI Manufacturing Inc.
- Lubrico Warranty Inc.
Auto And Home Insurance
- Industrial Alliance Auto and Home Insurance Inc.
- Prysm General Insurance Inc.
- iA Advantages Damage Insurance Inc.
- Surexdirect.com Ltd. (majority shareholder)
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Auto Financing
- iA Auto Financing Inc.
- Industrial Alliance Trust Inc. (as trustee)
U.S. Companies – Individual Insurance
- iA American Life Insurance Company
- American-Amicable Life Insurance Company of Texas
U.S. Companies – Dealer Services
- Dealers Assurance Company
- iA American Warranty, L.P.
- iA American Warranty Corp.
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Functions Of The iA Financial Group
The ideal duty of the iA Financial Group is to operate as a life and health insurance company. In addition to this, it also runs other services like: Individual Insurance, Individual Wealth Management, Group Insurance and Group Savings and Retirement.
iA Life Insurance
Here, the iA insurance group safeguards and protects your family and your dear ones financially, should anything happen to you. As long as you are under their life insurance and you pass away, your family will benefit financially from the company and won’t lack.
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Benefits Of The iA Financial Group Life Insurance
- Your financial commitments are being taken care of.
- It offers a maximum coverage to your family’s standard of living.
- Any death-related expense is being taken care of by the insurance company.
- The event of death won’t lead to the closure of one’s business.
- It completes life insurance coverage offered through your employer.
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Types Of The iA Financial Group Life Insurance
Term Life Insurance
It offers a cheaper coverage to sort your temporary needs. Also, it gives coverage to your loved ones for a given period of time while you have greater financial commitments. This type of life insurance are beneficial to those who still have children that they look after and are not on a flexible budget. Also, it is for those who need to pay of a short term loan.
Permanent Life Insurance
This type of insurance offers a lifetime insurance coverage and also confer a high level of protection on your family. Those who will find this type of life insurance beneficial are those who want coverage, even if there is an alteration in your health status. Also, those who want their business to keep running should anything happen, will also appreciate this permanent life insurance.
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Participating Life Insurance
This is a form of permanent life, such that, when you obtain this type of life insurance, you are sure of the growth of your estate. Also, it offers a level of coverage and protection to your family as you gain access to dividends. Other use of this type of life insurance are:
- If you wish to confer on your family and relations a big estate and also for them to reap from your retirement proceeds.
- Also, if you don’t want your family to encounter any financial hardship or difficulties.
Universal Life Insurance
This is a type of life insurance that comes from the merger of permanent life insurance and savings. If you are on this type of life insurance, you are sure of having a lifetime coverage and the chance to save with certain tax benefits. You can enjoy this type of life insurance if you want your family to enjoy a substantial property when you are gone. Also, you can enjoy it if you have contributed the maximum amount to your RRSP and your TFSA.
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- Aviva Canada
- Great-West Lifeco
- Intact Financial Corporation
FAQs
Is iA Financial Group A Good Company?
According to employees, they rate iA financial group 4.3 out of 5 stars based on 586 anonymous reviews. So, it is fair to say it is a good company.
What Is The iA Financial Group?
Industrial Alliance Financial Group, also known as iA Financial Group is an old company which is part of the largest life insurance companies in Canada.
What Is The Yearly Revenue Of iA Financial Group?
Its yearly revenue is over $3 billion.
Is The iA Financial Group A Big Company?
Yes, it is. It has over $213.9 billion in assets, 8,500 employees, 4 million clients and 50,000 advisors.
Who Is The CEO Of iA Financial Group?
The company is under the leadership of Denis Ricard.
Conclusion
I believe you understood the topic clearly. Nevertheless, you can carry out more research to know more about this insurance company.
See also: https://ia.ca/