Universal Life Insurance
Get the Coverage You Deserve
Universal life insurance is a new all-in-one way to get the protection you need and build your savings. The policy combines permanent life insurance protection with a broad range of investment account options for tax-sheltered, tax-differed savings growth and upon death the life insurance and savings (cash Value) goes tax free to the beneficiary.
Why universal life insurance?
You may be interested in universal life insurance if You are:
Looking for ways to build your savings alongside your RRSP and TFSA
Buy-sale agreement, insured retirement, charitable giving, last expenses.
Looking for a way to leave more money for your children and grandchildren without paying probate fee and tax on the growth to your beneficiary.
Flexibility in the premium payment. You can increase, decrease or even stop the premium if you have cash value to support your policy.
Premium is guaranteed not to increase in level cost of insurance plan.
Can be used as Key Person Life Insurance which certifies financial protection to continue operations effectively in the event of death or disability of a key person employed in a business organization.
Types of universal life insurance:
Universal Life plans are available with following options:
You can pay till age 100.
It can also be designed to pay for a limited period of 10yrs, 15yrs, 20yrs, till age 65 and you are protected for ever.
Life policy collateral loans
Universal life policyholders can use the cash surrender value of their life insurance policy as collateral for a tax-free bank loan and can return back too if he doesn’t need anymore.
High performing investment options
Universal Life offers a wide range of investment options. To help you select the ones that best match your financial goals and risk tolerance.
Customized payment period
Universal life can be paid of in 10-15-20 years too.
Bundling protects your total life and health needs
You can customize your plan with optional benefits to meet your changing needs. Bundling universal life with a Term life insurance and a critical illness insurance helps protect your total life and health needs in one convenient policy.