Are you a newcomer to Canada? Let our advisors help you secure your financial future.
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We’re invested in your future
Building a new life in Canada is a project that requires careful planning. Let our advisors help secure a new financial future for you and your loved ones.
At iA Financial Group, we understand your specific needs and challenges, as nearly half of our new clients are newcomers like yourself.
Simplifying your experience
- Your immigration documents are, for the most part, not required.
- You may be approved for insurance without having to undergo medical examinations.
- International students can purchase up to $250,000 in life insurance.
- Do you have permanent resident status? iA recognizes your assets held in another country when determining your insurance amount.
- You will have access to one of our advisors, either virtually or in person, who can help you find the products that are right for you.
Protecting what you hold closest to your heart
Whether you want to protect your family or your lifestyle, we offer a variety of insurance products that can help you grow your wealth.
Explore our insurance brochures, available in several languages.
Securing the future for your loved ones
Life insurance helps cover your financial commitments and maintain your family’s lifestyle in the event of your death, and can complement coverage offered by your employer. It can also allow you to leave an inheritance. With an estate plan, you can optimize the transfer of wealth to your loved ones.
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Ensuring your peace of mind while abroad
Travel insurance offers you coverage against the unexpected, including emergency medical coverage with a 24/7 toll-free assistance line and compensation for lost luggage. You can even add coverage for extreme sports or activities. It’s the perfect way to get away from it all without worrying about a thing!
Discover iA travel insurance
Protecting your income and your financial commitments
An unexpected illness or accident can come with considerable costs. Health and disability insurance will help you meet your financial obligations without having to dip into your savings, leaving you to recover with peace of mind. Protect yourself—you are your own most valuable asset!
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Make your savings grow even faster
Moving to Canada is a step that will open a horizon of exciting projects and plans. Our wide range of savings vehicles and investment options will help you grow your wealth according to your investor profile and values. Benefit from impressive advantages and make your dreams a reality!
Explore our savings brochures, available in several languages.
Invest in you child’s future
Provide your child with a bright future by taking advantage of generous government grants (20% to 30%) within a Registered Education Savings Plan (RESP) and help open the doors to their post-secondary education.
Save money tax-free
Build your tax-free savings for retirement with a Registered Retirement Savings Plan (RRSP) or for other short-term projects with a Tax-Free Savings Account (TFSA).
Discover our savings plans
Protect your assets and enjoy peace of mind
Take advantage of segregated funds and other iA Financial Group savings products, which come with death benefit protection, rapid payouts and much more.
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More information
Critical illness Insurance
iA Participating Life Insurance (iA PAR)
Emergency Medical Insurance | Visitors to Canada
Mortgage Insurance
Term Life Insurance – Family
Term Life Insurance – Business
Savings and taxes
Loan Investment
My Education+
RESP
Prestige preferential pricing
Segregated funds
Personalized service and advice
An advisor can help you make your plans a reality, offering the advice you need for your family’s financial wellbeing. You can meet them virtually or in person.
Transferring a UK pension to Canada
If you have contributed to a UK pension plan and are aged 55 or over, you may be entitled to transfer your pension to Canada on a tax-free basis.
More details
Advice for you
Finances My savings
Establishing yourself financially in Canada: what you need to know
schedule
9min.
Well-being Life and health
The Canadian health care system: What you need to know
schedule
8min.
Well-being Life and health
Taking care of your health once you’ve arrived in Canada
schedule
2min.
Want more advice?
Frequently Asked Questions
Our entire range of insurance and savings products is available to newcomers.
Newcomers are eligible for the following benefits:
- •Your immigration documents are generally not required to take out insurance with us
- •International students are eligible for up to $250,000 in life insurance
- •If you are a permanent resident, we recognize your foreign assets when determining the amount of your life insurance
- •It is possible to purchase life insurance without having to undergo medical examinations
- •You have access to many savings products that will help grow your assets, while enjoying the guarantees and benefits of insurance products
In the event of death, life insurance covers the deceased’s financial commitments, such as mortgage and debts. It also provides relatives the money they would need to maintain their lifestyle and covers death-related expenses, such as the cost of repatriating the deceased to their country of origin, for example. This money is tax-free.
The best way to choose a life insurance product that fits your specific needs and financial situation is to consult a qualified, experienced advisor. They will guide you.
The cost of life insurance varies according to your needs. Here are a few examples of term life insurance costs:
- •$9/month for coverage of $100,000 on a 10-year term: 26-year-old female, non-smoker
- •$47/month for coverage of $750,000 on a 20-year term: 35-year-old male, non-smoker
- •$62/month for coverage of $350,000 on a 15-year term: 50-year-old female, non-smoker
Yes, it is possible for foreign nationals to purchase life insurance. This would be the case for a study permit holder, for example. You can contact an advisor for more details.
There are many types of life insurance to choose from, each with its own distinct characteristics. Here are a few examples of what is available with iA Financial Group:
- •Term life insurance
- •Permanent life insurance
- •Participating life insurance
- •Universal life insurance
- •Specialized life insurance
No. Immigration documents are not generally required to purchase life insurance with iA Financial Group.
iA Financial Group offers many different types of insurance products.
- •Critical illness insurance: If you were to be diagnosed with a critical illness covered under your policy, tax-free financial aid would be provided to help you respect your financial commitments while you recover
- •Disability and income insurance: If you were to become disabled, a source of income would be provided during your disability leave so you can meet your financial commitments and concentrate on your recovery
- •Accident insurance: If you were to suffer an accident, a lump-sum payment would be provided or certain accident-related expenses would be covered
- •Home insurance: If your home were to be damaged by fire, flood, theft, water ingress, etc., you (as the tenant or owner) would be protected
- •Auto insurance: Required by law, auto insurance protects your vehicle and wealth, and gives you access to emergency assistance
Please note that the public and group insurance plans offered by employers do not always provide complete coverage. In this case, it is very important to complete your coverage. An advisor can help guide you according to your situation and needs.
Your credit report is automatically created as soon as you take out a loan or apply for credit.
What we call a “credit rating” is developed over time according to how you manage your credit.
It is possible to positively affect your credit rating by paying your credit cards, rent, mortgage, electricity bills, etc. on time. On the other hand, paying your bills late, requesting multiple loans or credit cards, and exceeding your credit limit would all negatively affect your credit report.
A clean credit report is important if you want to obtain financing, rent an apartment, purchase insurance or receive an advantageous interest rate, among other things.
Learn more about how to make your financial integration in Canada a success.
Here are some investment options for newcomers:
- •Registered Retirement Savings Plan (RRSP)
- •Tax-Free Savings Account (TFSA)
- •Registered Education Savings Plan (RESP)
- •First Home Savings Account (FHSA)
- •High Interest Savings Account (HISA)
- •Guaranteed Interested Fund (GIF)
- •And many more
If you are wondering where to start, an advisor is the best person to consult. An advisor is a professional who, by gauging your risk tolerance, can develop an investor profile to point you to the products that best fit your situation and can help you achieve your financial goals.
Find an advisor near you.
Yes, you can start contributing to an RRSP as long as you earn an income in Canada and have filed at least one income tax return with the Canadian government. Foreign workers and students can also start saving before becoming permanent residents.
If the assets in your RRSP are invested in a non locked-in plan, it is possible to withdraw them at any time. It is important, however, to consider that the amount withdrawn will be added to your other taxable income for the year and that you will be taxed according to the tax bracket under which you fall after making the withdrawal. Be sure to consider the tax implications of withdrawing from your RRSP.
There are many factors to retirement planning. It is therefore wise to seek professional advice. A financial security advisor can, among other things, help you determine your retirement goals and how much you need to save to reach them, based on your income.
There are many tax-free plans and accounts available to help you access property in Canada. Based on your ability to save and timeframe, you might consider a First Home Savings Account (FHSA), a Home Buyers’ Plan (HBP) through your RRSP, a Tax-Free Savings Account (TFSA), or a combination of all three. It will also be important to eventually protect your mortgage with mortgage life insurance.
