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Learn more about iA Financial Group life insurance.

Founded in 1892, iA Financial Group is the fourth-largest life and health insurance company in Canada. The company does business across the country and is headquartered in Quebec City. In 1987, Industrial Life and Alliance Nationale merged to become Industrial Alliance (Industrielle Alliance in French). It rebranded itself as iA Financial Group (iA Groupe financier in French) in 2015.

iA Financial Group offers individual insurance and wealth management products to retail customers, as well as group insurance, group savings and retirement products to businesses (which they then offer to their employees).

The iA Financial Group life insurance advantage.

What makes iA Financial Group life insurance unique?

Unlike most of the large Canadian life and health insurance companies, iA Financial Group offers property and casualty insurance for homes, cars, and recreational vehicles. The company also has a full-service brokerage, which offers stocks, bonds, and other types of investments

iA Financial Group bought investment and wealth management firm HollisWealth from Scotiabank in 2017, making it one of the largest non-bank wealth management firms in Canada. And in 2019, iA Financial Group launched a virtual assistant, which can be accessed using Google Assistant on Android or Apple devices as well as Google Home.

What life insurance products does iA Financial Group offer?

iA Financial Group offers both term and permanent life insurance products, but it has many additional permanent insurance options.

Term insurance is for a certain period of time, such as a 10 or 20-year period, while permanent insurance coverage is for your entire life. Premiums for term insurance stay the same for the length of the term and rise if you renew your insurance. On the other hand, premiums for permanent insurance usually stay the same.

Permanent insurance

Policy nameWho’s it for?Max. policy value
Whole lifeFor people looking to protect their family’s financial security.$10-million
Access LifeFor people whose health may prevent them from getting regular life insurance or who don’t want to go through a medical exam.$500,000
Child Life & Health DuoFor parents who want to insure a child and receive financial support in the event the child is stricken with a critical illness.$500,000
Life and Serenity 65For people who want lifelong coverage as well as additional protection in the event they end up with Alzheimer’s, Parkinson’s, paralysis, or loss of autonomy.$1-million

iA Financial Group also offers universal life insurance products, which is a form of permanent insurance. Universal life combines life insurance with an investment account and it’s up to policyholders to determine how they invest their premiums.

Its two universal life products — Equibuild and Genesis — are targeted towards individuals, families, young professionals, upper-income earners, and corporations. Genesis is similar to other universal life products, whereas Equibuild has some unique features. For instance, a bonus will be earned each year, which will increase a policyholder’s coverage. There’s also a guaranteed cash surrender value that the policyholder can use for retirement or for other things, such as home renovations.

Term insurance

Policy nameWho’s it for?TermsMax. policy value
Access LifeFor people who have trouble getting life insurance due to their health, age, or where they’re from.10, 20, or 25 years$500,000
Pick-A-TermFor young families with loans and a mortgage, and want insurance when their children are financially dependent.10 to 40 years (can choose 18, 22, etc.)$10 million

Is iA Financial Group right for you?

iA Financial Group is one of the largest life and health insurance companies in Canada, with a solid track record of meeting its financial obligations. It’s also been around for more than a century, having survived the Great Depression and the financial crisis of 2007-08.

American credit rating agency A.M. Best gives iA Financial Group an A+ rating, which is the highest rating possible. According to A.M. Best, an A+ means that the insurer has “a superior ability to meet their ongoing insurance obligations.”

Even though the company isn’t as well known outside of Quebec and Ontario, the company is stable, which is important for insurance buyers. If you still have questions about iA Financial Group, you can always ask your insurance broker.

Before deciding whether or not to choose iA Financial Group as your life insurer, keep in mind that:

  • LowestRates.ca compares quotes from more than 20 different life insurance companies.
  • Comparing will give you a better idea of which companies want to insure you: the lower the quote, the more likely it is that you are a good match for the insurer’s underwriting standards, and vice versa.

What else does iA Financial Group do?

Besides life insurance, iA Financial Group also offers:

  • Car insurance
  • RV insurance
  • Home insurance
  • Mortgage insurance
  • Critical illness and disability insurance
  • Personal accident insurance
  • Travel insurance
  • Mutual funds
  • Segregated funds
  • High-interest savings accounts
  • GICs
  • Annuities
  • Investment loans
  • Group health insurance
  • Group retirement savings plans

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