iA Financial rolls out additional pandemic support

iA Financial is launching additional support to help those affected by the COVID-19 crisis.

The company is offering its auto insurance policyholders (through its iA Auto and Home division) a discount on their premiums. The discount represents 20% of their monthly auto insurance premium.

A release said that the discount applies retroactively to April 01, 2020 for an initial period of two months. iA Financial will then reassess conditions after the period based on how measures announced by the government and public health authorities change. Further details about the discount will be disclosed to customers soon, it added.

iA Financial is also providing additional forms of relief to its other clients:

• Life, critical illness, disability, and personal accident insurance, as well as individual insurance and savings clients can contact iA Financial’s customer service until May 31, 2020 to request a 90-day deferral of their insurance premiums and loan payments.
• Mortgage loan clients can similarly call to request a deferral of their mortgage payments; administrative fees will also not be charged at this time.
• Auto loan clients will be offered flexible payment solutions.
• Group insurance clients can postpone the payment of premiums for 60 days, while clients on short-term disability following a positive COVID-19 diagnosis will receive immediate coverage. iA Financial is considering other measures, such as maintaining coverage for employees that lost their job due to the pandemic and the automatic temporary renewal of prescription drugs.

In addition to the support iA Financial has been providing to clients, the company has also been donating to COVID-19 relief since March. The insurer has donated (as of April 07) a total of $1,450,000, including $600,000 in emergency funding to various teaching hospital foundations and health research centres. iA Financial has also donated $850,000 in emergency funding to various community organizations across Canada, and another $450,000 in emergency funding to United Way.