Canadian financial regulators recently announced strengthened requirements regarding the amount of money insurance companies must set aside to cover guarantees made to their clients. These changes, compounded by adverse market conditions, have made it necessary for us to re-evaluate the costs associated with our Ideal Income Series.
Please note that we have sent an Addendum to the Ideal Segregated Funds – Signature Series Information Folder to the regulators to increase the Ideal Income Series Fund Fee Rates. Subject to approval, we will increase the Fund Fee Rates for our Ideal Income Series effective July 1st, 2012.
This change will not affect the guarantees, features or benefits offered under our Ideal Segregated Funds – Signature Series contract.