If I lose my job or miss a payment; will I lose all my money?

The simple answer is no, you will not lose all your money. However, there will be some loss of investment earnings or number of units in your plan depending on the steps taken to make up for missed contributions. We offer a wide range of choices. If you are not comfortable committing to a regular contribution schedule, you can make single contributions when you are able. Want to contribute just once a year? We can do that. Monthly contributions? No problem. Alternatively, you can open an Individual or Family Savings Plan as these plans don’t require ongoing contributions.

We understand that life happens and certain situations may make it impossible to meet your regular contribution schedule. However, if you miss one or more of your contributions, you will be in default of your group plan commitment. To stay in the plan as you originally set it up, you’ll have to make up all of the contributions that you missed. You will also have to make up what the contributions would have earned if you had made them on time. This is the interest adjustment. Any interest that is paid as part of this process would then be payable to the beneficiary as part of the EAP that they will receive.

If you’re worried about missing a payment, we encourage you to contact our Customer Experience Department at 1-877-333-7377 to talk about your options. There are a number of things you can do, such as hold your payment for a short period of time, change your contribution schedule or reduce the number of units in your group plan.

We’ve helped many people sort through difficult times, but we need to hear from you in order to help you. Talking through the situation will help us get you back on track sooner and find a solution for you and your family.

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