TERMIUM Plus®

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LEGAL-FOR-LIFE COMPANY [1 record]

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Alphabetical list of terms

Record 1 1990-03-01

English

Subject field(s)
  • Investment
  • Insurance Law
CONT

Generally, under current federal and provincial legislation, insurance and pension institutions can only invest in companies that have four to five years of positive earnings or four to five years of dividend payout. The provisions vary from province to province, but in all cases companies that meet those performance criteria - known as "legal-for-life" companies - presumably have sound financial histories that are deemed safe for life insurance companies to invest in. The federal government, however, plans to do away with the legal-for-life requirement and replace it with new "prudent portfolio" rules to guide the investment practices of insurance and pension fund managers.

French

Domaine(s)
  • Investissements et placements
  • Droit des assurances

Spanish

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