ivari Universal Life
Your Policy, Plain and Simple
A friendly guide to your Ivari Universal Life insurance — what it does, how it works, and what matters most.
What Is This Policy?
Two powerful features, one contract:
Lifelong Protection
Coverage that never expires. Your beneficiary receives a tax-free death benefit — no matter when you pass away.
Built-In Investment Account
Premiums grow inside your policy in the Total Fund Value — your personal investment account.
Tax-Favoured
Designed to stay tax-exempt under Canadian rules — a long-term wealth and protection tool in one.

Think of it as flexible life insurance + an investment account — all in one contract.
How Payments & Costs Work
Your Premiums
Paid in Canadian dollars. A minimum is required in the first few years — but you can pay more within tax rules.
More deposits = more growth in your Total Fund Value.
Monthly Deductions
Each month, ivari automatically deducts a Monthly Deduction to cover:
  • Cost of your insurance
  • Policy administration fee
  • Any rider charges (optional add-ons)
Cost of Insurance Options
ART to 90/15
Starts lower and increases each year. Stops at the later of age 90 or 15 years. Good if your needs may change.
Level Cost
Stays the same throughout the policy. Only available with the increasing death benefit option. Predictable and steady.
How Your Money Can Grow
After costs are covered, your remaining premiums sit in the Total Fund Value. You choose how it's invested:
Treasury Bill Option
A short-term, formula-based rate. Never falls below 0% — your fund is protected from negative returns.
Fixed-Rate Options
Lock in a rate for 1, 5, or 10 years with a minimum guaranteed return. Stable and predictable.
Index & Fund-Linked Options
Canadian, U.S., and global equities, bonds, and portfolios. Returns can go up or down — including negative, which can reduce your fund.

✨ Policy Bonus: Each year, ivari may add an extra interest bonus based on your fund's size and performance.
Your Death Benefit Options
Choose how your beneficiary is paid at the time of your death:
Level Death Benefit
Pays the higher of the Face Amount or the policy's share of the fund during the cost-of-insurance period.
Typically lower cost of insurance.
Increasing Death Benefit
Pays Face Amount + Total Fund Value at death. Your beneficiary receives both your coverage and your full investment account.
Required for the Level Cost insurance option.

⚠️ Important: Loans, withdrawals, and negative returns can reduce the death benefit paid to your beneficiary.
Tax-Exempt Status — Why It Matters
What "Tax-Exempt" Means
Growth inside your policy is sheltered from annual income tax — a key advantage over regular investment accounts.
ivari checks your policy every year to keep it within Canadian tax rules.
If the Fund Gets Too Large
If your investment account grows too large relative to coverage, ivari may:
  • Increase your Face Amount (within set limits)
  • Move extra money to a Side Account — still held with ivari, but earning taxable interest
The Side Account
A separate holding area for money that cannot remain in the main policy for tax reasons.
1
It Earns Interest
A guaranteed formula-based rate — never below 0%. Your money won't shrink from negative returns here.
2
You Can Withdraw
You have access to Side Account funds — withdrawals are permitted at any time.
3
At Around Age 100
The Side Account is used to purchase an annuity. If the income would be very small, ivari may pay it out as a lump sum instead.
Accessing Cash While You're Alive
Living Benefit
From policy year 6, if you're diagnosed with a serious disability or critical condition, you may request a lump-sum Living Benefit.
The amount is your fund value minus:
  • Outstanding loans
  • Unpaid charges
  • Three months of minimum premiums

⚠️ Taking the Living Benefit will reduce both your fund and the death benefit.
Policy Loans
You can borrow against your policy up to a maximum amount — useful if you need cash without surrendering the policy.
  • Loans accrue interest over time
  • Unpaid loans reduce your fund and death benefit
  • Repay at any time to restore full value
Withdrawals & Surrendering
Partial Withdrawals
Withdraw a portion of your fund. Minimum is typically $500. May be subject to surrender charges and market value adjustments from fixed-rate options.
One Free Withdrawal Per Year
After policy year 2, one free partial surrender per year — up to a formula-based amount — with no surrender charge.
Full Surrender
Cancel the policy at any time. ivari pays the Net Cash Surrender Value: fund value minus loans, surrender charges, and market value adjustments.

📌 Surrender charges are higher in the early years. This is best treated as a long-term plan.
Keeping Your Policy Active
If your fund can't cover monthly charges, ivari gives you time to fix it — but act quickly to protect your coverage.
Reinstatement
If your policy lapses, reinstate it within 2 years by providing:
  • Proof of good health
  • Payment to cover past shortfalls
Best Practice
Keep your fund well-funded — especially during lower investment returns or after withdrawals and loans.
Your Beneficiary & Death Benefit
01
You Choose Your Beneficiary
Name the person who receives the death benefit. Update at any time by written notice — unless you've named an irrevocable beneficiary.
02
Ivari Pays the Benefit
ivari pays the death benefit minus any outstanding loans and unpaid charges to your beneficiary — tax-free.
03
Settlement Options
Your beneficiary chooses how they receive the proceeds, based on the settlement options in the contract.
Key Takeaways
Protection + Growth
Lifelong insurance and an investment account — in one flexible contract.
Costs Are Automatic
Monthly charges come from your fund. Some investments can lose value and reduce your coverage.
Stays Tax-Favoured
Managed to stay tax-exempt — ivari may adjust coverage or shift money to a Side Account if needed.
Cash Access Has a Cost
Withdrawals, loans, and Living Benefits reduce what your family ultimately receives.
Think Long-Term
Surrender charges make this best suited as a long-term plan, not a short-term savings vehicle.