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 of your accounts is reviewed to determine its purpose.  For example:

  • RRSP and RRIF accounts are both for retirement purposes
  • Cash and margin accounts are for general use
  • Your percentage interest in an account that is held on a joint or share ownership basis is also for general use

2.     The amounts owed to you (less any amounts you might owe to the CIPF Member) in accounts held for the same purpose are added together and considered to be a single account for coverage purposes

3.     Each account is then assessed against CIPF’s Separate Account definitions to determine if it is a Separate Account. If it is, it is eligible for $1 million coverage

4.     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.