Industrial Alliance Insurance and Financial Services Inc. today announced the launch of Ecoflextra. The new retirement income product ensures investors of a retirement income guaranteed for life, while allowing them to profit fully from all the growth potential of the market.

Ecoflextra also offers investors the possibility of being credited a 5% bonus on their guaranteed income for the first 15 years of the contract if no withdrawal is made.

“Ecoflextra provides a lifetime retirement income that is secure and predictable, with the possibility for investors to profit from potential market upswings, and even to take advantage of a bonus,” explains Bruno Michaud, senior vp, administration and sales.

Industrial Allliance says Ecoflextra includes numerous advantages to satisfy clients’ various needs/

Annual retirement income is equivalent to 5% of investments, for life or for a minimum period of 20 years, which allows the investor to recover their entire investment, even if markets abruptly go down.

A yearly bonus of 5% of the guaranteed income, for the first 15 years if no withdrawal is made during the year, gives the investor a yield that can reach 75%, no matter the market returns.

Guaranteed resets every three years during market upswings can increase the minimum guaranteed income as well as the bonus amount.

A 100% capital guarantee at death isreset every three years.

The products also offers access to more than 38 investment funds managed by renowned professionals in Canada and abroad, and transfers between funds, without fees.

There is also the possibility of redeeming funds at all times, if needed.

“After consulting our clients and our partners, we decided to offer a flexible product that adapts to the client’s specific needs,” says Michaud. “For example, no other retirement income product offers as many investment options: Guaranteed Interest Funds equivalent to Guaranteed Investment Certificates, two series of investment funds-one offering a guaranteed income and the other allowing occasional withdrawals-and a Life Investment that is the only one of its kind in the market.”

Ecoflextra also allows investors to profit from all the advantages of segregated funds, such as the possibility of avoiding probate fees, protection against potential creditors and avoiding surrender fees at death.