Taking out life insurance can raise a lot of questions. How much does it cost, what coverage is included, should you consider add-ons? Our advisors1 can help with that.
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Universal life insurance is an all-inclusive solution to protect you, your family and your financial future.
This insurance covers both your insurance and investment bases. If you're looking for a tax-sheltered savings option to supplement your RRSPs and TFSAs, and also want permanent life insurance, this product is right up your alley.
Your life insurance is there to keep up with your life. You can adjust your coverage features throughout your contract to meet your changing needs.
Once you've decided on the coverage amount, you can choose to contribute more to build up additional savings. It's a smart and simple way to diversify your tax-sheltered investments.
Even if you've maxed out your RRSPs and TFSAs, universal life insurance gives you another way to benefit from tax-sheltered savings. We put your money to work by investing part of the amount you pay for your insurance. You don’t have to do a thing. You can also choose to use some of your savings for a personal life project or as a source of extra income.
Just keep in mind that withdrawals may be subject to income tax.
What could be more important than protecting your children? Universal life insurance for children offers coverage just for them, such as guaranteed insurability and critical illness insurance for children.
Amine2, a 30-year-old from Ontario, started his company a few years ago. He is looking for permanent life insurance to protect his business should he pass away. In addition to this coverage, universal life insurance allows him to save more money on a tax-sheltered basis so he can enjoy his dream retirement.
Emily2, newly retired, and her husband Andrew, who recently sold his business, have purchased universal life insurance. In their sixties, the couple wants to maximize their tax-sheltered investments and ensure their blended family estate planning will be seamless for their children and grandchildren.
Caroline and James2 have purchased universal life insurance for their young son Nathan. They wish to stay together as a family and have a financial cushion should he fall ill. The coverage included in universal life insurance for children allows them to ensure Nathan will be protected if needed, while benefiting from tax-sheltered investments.
If you are diagnosed with a covered critical illness, you receive a tax-free payment to ensure you have the money needed to focus on your health.
This life insurance covers all the children of the insured parent.
Receive a tax-free amount if your child becomes ill, so you can stay at their side and focus on what matters.
In the event of a disability, we’ll take care of your insurance payments.
In the event of a fracture, you’ll receive a lump-sum payment to help cover unexpected expenses resulting from your injury.
1. On behalf of Beneva Inc., Financial services firm and its authorized partners.
2. Insurance of persons is underwritten by Beneva Inc. This product may not be available in your province or territory of residence. Conditions, exclusions and limitations apply. These are fictitious cases. Please contact your financial security advisor.