Universal Life Insurance
Universal life insurance is a type of insurance that combines both savings and insurance coverage. Here’s a summary of how it works to help you decide if this type of insurance might be suitable for you.
Save while being covered
Thanks to its investment aspect, universal life insurance will allow you to take control of your investments. The returns on your investment accounts will depend to a large extent on the accounts you choose. Our advisors will help you put together a plan that suits you and help you reach your goals. Whether you prefer accounts with 100% guaranteed interest or moderate risk, no problem, we’ve got you covered.
How Much Does It Cost?
In general, universal life insurance is more affordable than participating life insurance. There are several factors that affect the cost of your policy, including
Age
As a general rule, the younger you are, the cheaper the insurance.
Health condition
Family history, chronic illness and lifestyle can increase the cost.
Gender
Since women live longer on average than men, their insurance may cost less.
Work
If you work in an unsafe profession, the cost of your insurance may be higher.
Is universal life insurance a good solution for you?
Universal life insurance may be for you if:
You are looking for ways to grow your savings, in addition to your RRSPs and TFSAs;
You are looking for a way to save more money for your children and grandchildren;
You are a business owner looking for a tax-efficient way to protect the value of your business.
Get a free quote online
Calculate your insurance premium and save! Our online insurance calculator compares offers from multiple insurance companies and financial institutions to help you save money!
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