Guaranteed investing is a safe and secure way of growing your savings.

This low-risk option provides a guaranteed interest rate and protection from market uncertainty. Most banks offer a Guaranteed Investment Certificate (GIC). At Equitable®, we offer a Guaranteed Interest Account (GIA). A GIA has additional features and protections, many of which are unique to insurance investments. 

See how the two guaranteed investments compare

Guaranteed interest rate  
Choose a term between 1- to 15-years2 and receive a competitive guaranteed interest rate for the duration of that term. 

Cashable  
A GIA is typically held until the maturity date. If needed, it can be redeemed early, subject to a market value adjustment. 

No fees at death  
Equitable will waive any market value adjustment fees in the event of the annuitant’s death. This means Equitable will pay the beneficiary the GIA value, including interest earned up to the date of death. At a bank, a market value adjustment fee may be charged at the time of death before paying the proceeds of the GIC to the beneficiary or estate. 

Estate planning 
At death, proceeds from a GIA go directly to the named beneficiaries. By bypassing the estate, this allows the proceeds to avoid possible probate, legal and executor fees. A non-registered bank GIC does not allow a beneficiary to be named, and at the death of the owner, the payment must be made to the estate. 

Pension Income Tax Credit 
The interest income from a GIA qualifies for the Pension Income Tax Credit. This means a client 65 years or older may claim the first $2,000 of interest on a non-registered account as eligible pension income.  

Potential creditor protection 
Creditor protection may be available for the contract owner in the event of a bankruptcy or lawsuit. Creditor protection is not guaranteed and is dependent on several factors including, the designation of the annuitant’s spouse, child, parent, or grandchild as beneficiary3. 

Safe and secure 
Equitable is a member of Assuris. Assuris is the not-for-profit organization that protects Canadian contractholders in the event their insurance company fails. Assuris guarantees clients will retain up to $100,000 or 90% of your accumulated value, whichever is higher. Details about Assuris’ protection are available at www.assuris.ca or by calling the Assuris Information Centre at 1.866.878.1225. 

 

To invest in a DIA or GIA, contact your advisor. If you do not have an advisor and would like to speak to one, call us at 1 800 668 4095 and one of our Client Care Representatives would be pleased to have an advisor in your area contact you. 

1. For details visit www.cdic.ca/about-us/  

2. Terms may be limited at age 90. 

3. In Quebec, clients may receive protection from creditors if a family member who is an ascendant or descendant of the contractholder is named as the beneficiary.  

 

This information does not constitute legal, tax or other professional advice. Clients are advised to speak with their advisor before making any investment decisions.  

® or ™ denotes a trademark of The Equitable Life Insurance Company of Canada.