Once the funeral contract is drawn up, Eirene will put your fund in an investment that is 100% government guaranteed. All funds on deposit with our partner GFD are placed with an approved financial institution and invested only in GIC’s (as per provincial regulation) and consequently are protected by either CDIC (federal insurance) if deposited in a bank or DICO (provincial insurance in Ontario) if deposited with a credit union.
The money you invest for a funeral today is guaranteed and protected with GFD. Each account is CDIC insured to a maximum of $100,000. Furthermore, your funds are regulated by the Bereavement Authority of Ontario.
We are required by law to only have it in very safe investments, and you are entitled to ask Eirene annually where and how the money is invested and how much money you have in your account.
GFD has operated successfully for almost 60 years and we have never had a default. Your trust deposit principal is fully protected by regulated depositories such as banks or credit unions and they are respectively protected by government guaranteed.
If the funds are requested for any reason, the purchaser gets back every penny that was put into the investment, plus the interest earned. Whether you have only made a few installments towards the contracted funeral services amount, or paid in full, you get exactly what you put in plus any interest earned.