Coverage on multiple accounts
If you have more than one account, you may be eligible for additional coverage if one or more of the accounts meets one of CIPF's Separate Account definitions.
Here’s how it works:
1. Each account is assessed against CIPF’s Separate Account definitions to determine if it is a Separate Account. Unless otherwise indicated in the CIPF Coverage Policy, each Separate Account held by a customer in the same capacity or circumstance (e.g., an RRSP and a RRIF are both considered to be registered retirement plans) are added together and considered to be a single Separate Account for coverage purposes. Each Separate Account is eligible for $1 million coverage.
2. Any accounts that are not Separate Accounts are combined into a single General Account that is eligible for $1 million coverage.
For more information, please refer to the CIPF Coverage Policy