Canada Whole Life Insurance

Whole life insurance is the most common type of permanent life insurance, and unlike term life it is permanent, for as long as the premiums are paid. Whole Life Insurance

There are several types of permanent insurance (e.g. whole life, universal life, etc.), all of which have the following characteristics in common:

  • they have a cash value.
  • they provide a death benefit.
  • they last for a person's life, as long as premiums are paid up.
  • they can be used for the management of wealth management as well as estate planning, etc.
  • there are numerous options available to suit a person's needs, and each insurance company differs in their options and plan types. 

Whole Life

Whole life policies stretch the cost of insurance out over a long period of time, thereby minimizing the increasing insurance cost.  The premiums can be spread out over your lifetime, or up until a certain age.

Earnings are tax-deferred, and the death benefit is level (never decreases).

Universal Life

With universal life you can usually reduce or increase the amount of your death benefit, and in addition the cash value tends to increase in a non-linear fashion, depending on how your money is invested.

Universal life tends to be a better choice for wealth management and estate planning, since there are many options available to people.

For more information see the Universal Life Insurance page.

Quotes and Enrolment

Permanent life is more complicated then term life, and we highly recommend contacting us for assistance when getting quotes and purchasing whole life insurance.

However, you can get whole life quotes and enrol online by clicking on the link below and then selecting one of the "Whole Life ..." options in the Initial Level Insurance Period listbox.

Whole Life Quotes | Universal Life Insurance