Continuing to Make Your RRSP or RESP Contributions

Saving is certainly one of your priorities. However, if a disability prevented you from pursuing your occupation, a decrease in income could affect the amount you have available to invest in your registered retirement savings plan (RRSP) or the registered education savings plan (RESP) you have subscribed to for your children.

At Industrial Alliance, we offer you optional, exclusive coverage to ensure that your contributions continue to be made to your savings plan in the event of a disability*.

The CID (contribution in the event of the insured’s disability) benefit provides for the payment of a monthly contribution to the savings plan (whether or not it is registered) of the disabled insured. If the savings plan is registered, the contributions are paid up to the maximum allowable limit for tax purposes or under the plan rules. The excess contributions, if any, are deposited in an Ecoflex non-registered contract.

You may take out this coverage on your Industrial Alliance Ecoflex, Diploma or My Education contract.

*Certain conditions apply.