Clarica was a Canadian financial services company that operated from 1870 to 2002. The company specialized in providing life insurance, investment, and group benefits products to individuals and businesses. It was headquartered in Waterloo, Ontario, and had a nationwide presence with offices across Canada.
Clarica focused on helping individuals and families plan for their financial future through various insurance and investment solutions. The company offered a wide range of life insurance products, such as term life insurance, whole life insurance, and universal life insurance. These policies provided financial security and protection against unforeseen events, offering beneficiaries a payout upon the policyholder's death.
In addition to life insurance, Clarica offered investment options to help clients grow their wealth and achieve their financial goals. These included mutual funds, segregated funds, and annuities. Through these investment products, individuals could diversify their portfolios and potentially generate income or capital appreciation over time.
Furthermore, Clarica provided group benefits solutions for businesses, enabling employers to offer comprehensive benefit plans to their employees. These benefits often included health and dental insurance, disability coverage, and retirement savings plans.
In 2002, Clarica was acquired by Sun Life Financial, one of Canada's largest insurance and financial services companies. The merger strengthened Sun Life's market presence and expanded its customer base, consolidating its position as a leading provider of insurance and investment products in Canada.
