CI Global Asset Management (CI GAM) and Empire Life Insurance Co. introduced a new package of segregated funds.
Empire Life Concentric’s GIF CIs are available in 22 different options, according to the release, offering investors access to the diversification, risk management and growth potential of actively managed mutual funds with the security of guaranteed insurance benefits.
Segment fund contracts issued by Empire Life invest in underlying funds managed by CI GAM and offer a variety of management styles and geographic diversification, from 100% fixed income to 100% equity.
The new funds offer maturity guarantees and death benefits. The maturity benefit is 75% of deposits (less any withdrawals prorated) on December 31 of the year in which the annuity turns 100 years old. Death benefits are available in two options: 75% or 100% of deposits (less pro rata any withdrawals) paid to the beneficiary upon the death of the annuitant.
“In the current environment of low interest rates and market uncertainty, investors need investment and real estate planning strategies that allow them to achieve reasonable returns while managing risk,” said Roy Ratnavel, executive vice president and head of distribution for CI GAM. statement.
