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Ivari Life Insurance

Ivari is the new name for Transamerica Life Canada.  Transamerica Life Canada was purchased by Wilton Re.  Wilton Re is in turn owned by the Canadian Pension Plan Investment Board (CPPIB) and its management.

Ivari offers Universal Life, Term Insurance and Critical Illness insurance products.  They also offer investments including segregated funds, guaranteed investment certificates and annuities.




Main reception

Mailing address
500-5000 Yonge Street
Toronto, Ontario M2N 7J8

Customer Service
Toll free: 1-800-846-5970

Financial Strength

from A.M. Best

Additionally, A.M. Best has upgraded the FSR to A+ (Superior) from A (Excellent) and the Long-Term ICR to “aa-” from “a” of ivari (Toronto, Ontario, Canada).This upgrade reflects A.M. Best’s view that ivari has become a strategic part of Wilton Re Ltd’s current and future business strategies, contributing a significant portion of the group’s earnings.

The outlook of all these Credit Ratings (ratings) is stable.

The ratings reflect Wilton Re’s very strong balance sheet strength, as well as strong operating performance, favorable business profile and appropriate enterprise risk management.

The ratings also reflect Wilton Re’s solid risk-adjusted capitalization level, disciplined growth strategy, and high quality balance sheet and stable liability structure, which are focused principally on mortality risk. The ratings also recognize the ongoing commitment by the company’s highly rated ultimate parent, Canada Pension Plan Investment Board (CPPIB), to provide capital to Wilton Re in support of future growth. While Wilton Re’s operations generate significant capital, which can be deployed to fund growth, A.M. Best believes that CPPIB would provide additional funding, if needed. Wilton Re’s continued strategy of closed block acquisitions is viewed positively, as it enhances the embedded value of the organization, and its future earnings and capital generation capabilities.

Ivari customer service is generally rated as good to excellent.

please see A.M. Best’s Recent Rating Activity web page

A description of Ivari’s products and features

Ivari offers a limited range of life insurance products including: Ivari term life insurance, Ivari critical illness insurance, and Ivari universal life insurance.

Term life insurance from Ivari

10, 20, and 30 years periods – are covered by Ivari term life insurance. Level and guaranteed premiums are also available on all term life plans for the duration of the policy. 

Term life insurance can be purchased for one person or for multiple people (maximum five insured lives).

Ivari Term 10

Term life insurance with a 10-year term makes sense for:

  • Owners who need to pay off their mortgage in the last few years
  • Insuring couples on a budget
  • Owners Starting a business and covering overhead expenses


  • Life insurance that can be converted into a permanent policy
  • Renewable every 10 years until the age of 80
  • $50,000 – $10 million in coverage
  • The option to add a critical illness rider

Ivari Term 20

You may want to consider the term 20 plan for:

  • Individuals who are looking for an affordable insurance policy that allows for future flexibility
  • Families who have mortgages
  • Starting a business and covering overhead costs


Life insurance that can be converted into a permanent policy

  • Renewed every 20 years to age 80
  • There are coverage amounts available (for single life) between $50,000 and $10 million
  • The option to add critical illness coverage

Ivari Term 30

Term 30 is the longest of the Ivari term policies and is suitable for:

  • Those seeking affordable insurance coverage with future flexibility
  • Individuals or families looking to cover their mortgage
  • Cost-effective coverage for young families

The Term 30 plan, carried over from Transamerica Life Canada, offers three interesting options between policy years 15 and 20.

  • You can choose this option to lower the benefit amount and suspend payments until the term ends.
  • For as long as you live, you can suspend your premium payments for SelectLIFE insurance.
  • SelectValue – Permits you to access any cash value attributed to your policy.


  • Life insurance that can be converted into a permanent policy
  • Renewal at the end of the policy term
  • There are coverage amounts available (for a single life) ranging from $50,000 to $10 million
  • Option to add critical illness coverage

Universal Life Insurance by Ivari

In addition to providing lifelong coverage, universal life insurance accumulates cash value and has a lot of flexibility. If your needs change, you can change your premiums or adjust the death benefit, within certain limits. A universal life insurance policy also allows you to choose investment options based on your investment strategies.

The Ivari Universal policy can be bought as a joint or a single policy.


  • Amounts ranging from $25,000 to $10 million are available
  • Add-ons such as a critical illness rider are available


Critical Illness Insurance from Ivari

Most people these days can survive a serious illness thanks to modern medicine – but the financial costs can be devastating. A critical illness insurance policy can help with the financial burden. In case of serious illness, it ensures your retirement savings are not drained.

In addition to the 4- coverage plan, Ivari offers a 25-coverage plan. The 4-coverage plan covers:

  • Heart attack
  • Cancer
  • Stroke
  • Coronary artery bypass surgery

The 25-condition coverage covers all these conditions and 21 others, including blindness, severe burns, and loss of speech and more. If you are looking for a comprehensive critical illness policy, this may be the right option for you.


  • Level premiums
  • Coverage amounts range from $25,000 to $2,000,000
  • Benefits for Early Detection – A lump-sum payment is provided if you are diagnosed with certain conditions
  • Death benefit with return of premiums – Provides a lump-sum payment upon the death of the insured
  • You will have access to some of the world’s top doctors who will review your case and provide advice to your physician

Riders to the Ivari Life Insurance Plan

With riders, you can tailor your insurance coverage to fit your needs, usually for a small fee. Here are some of the riders offered by Ivari:

  • Protection against critical illnesses – The insurer pays a lump-sum benefit if you are diagnosed with a covered illness.
  • Children’s Insurance Rider – Provides low-cost coverage for the insured’s children. Upon turning 18, the child has the option to convert it to permanent life without undergoing medical examination.
  • Accidental Death and Dismemberment – Provides an additional death benefit to your beneficiary in the event of an accident-related death or dismemberment.
  • In the event of a disability, future premium payments are waived.
  • This rider waives all premiums if the insured is a minor and the payor in the policy becomes disabled.
  • Term riders – You can purchase additional life insurance for a specific period over and above your basic coverage.

Options unique to Term 30

Term 30 is an important part of any Ivari life insurance review. Policyholders have the option to select three interesting inbuilt features. Between years 15 and 20 of your policy, you can choose from:

  • Suspend premium payments and reduce the benefit amount
  • Put a suspension on your premium payments in exchange for a reduced level of coverage
  • Your policy’s cash value can be accessed
  • Five insured lives can be covered jointly

Is Ivari Insurance Right For You?


Ivari Insurance offers some good term life, universal life, and critical illness plans. The company has strong financial standing. In comparison to its competitors, it offers some insurance products with above-average rates. It’s definitely worth considering, if you don’t mind that.

Ivari has been in the business for over 80 years. AM Best has rated them as A+. The largest retirement fund in the world, the Canada Pension Plan, owns Ivari – previously Transamerica Life Canada. Do we need to say more?  


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