Skip to main content

How Canada Life is supporting you during COVID-19. Learn more

Your web browser is out-of-date. For the best experience, please update to a modern browser like Chrome, Edge, Safari or Mozilla Firefox.

Real estate investment funds

Partial lifting of temporary suspension of Canada Life’s real estate investment fund

Canada Life announced a temporary suspension of contributions to, transfers and redemptions from its Canadian real estate segregated fund, effective March 20, 2020, until market conditions have stabilized. This was done in the best interest of our investors, since there was material uncertainty in the valuation of the properties held by the fund.

Although the suspension remains in place, the fund is open for contributions and requests for redemptions.

What the partial opening means for you

We’re pleased to inform you we now have the necessary confidence in the valuation of the properties held by the fund to take the next step towards getting back to standard operations. As of Jan. 11, 2021, you can make contributions and transfers into the fund.

Although the temporary suspension remains in place for redemptions, the real estate fund is now in a position to allow us to accept initial redemption requests for investors. If you choose to do so, you can now submit a redemption request between Jan. 11 and Feb. 19, 2021

If the total of all redemption and transfer requests we receive from all investors exceeds the amount of cash available for distribution from the real estate fund, payments will be made on a proportional basis. Any remaining redemption and transfer amounts owed to you will be carried forward to the next payout date.

What the suspension means for you

Payment release review program

What is it?

We’ve established a process to facilitate payments to customers who have an urgent need and no other source of funds. The value of the customer’s account/policy will be reduced by the amount of any payment made.

How to submit an application for payment release review

  1. Review your financial portfolio and you may want to speak with your advisor. Investors will need to prove an immediate and urgent need for funds and exhaust all other financial options.
  2. Gather your documents and financial information.
  3. Complete the form below and submit your application in one of the following ways:
    • Email: paymentreleasereviewprogram@canadalife.com
    • Fax: 1-855-317-9241
    • Mail: 255 Dufferin Avenue, London, ON N6A 4K1
    • Your advisor

Need more information?

This fund was fully suspended because of valuation uncertainty from March 20, 2020 to Jan. 11, 2021. Unit values and rates of return for that time period may not accurately reflect the market value of the properties held by the fund.