Universal Life Insurance
What is universal life insurance?
Universal life insurance is an all-in-one way to get the protection you need and build your savings. The policy combines permanent life insurance protection for lifelong peace of mind with a broad range of investment account options for tax-preferred savings growth. You choose a guaranteed death benefit for your beneficiaries and the payments you make above the cost of insurance can grow in a tax-preferred savings account. Or you can use them to increase the amount of your death benefit.
Universal Life Insurance is beneficial if you are:
- Looking for ways to build your savings alongside your RRSPs and TFSA
- Looking for a way to leave more money for your children and grandchildren
- A business owner looking for a tax-efficient way to protect the value of your business