Provides lifetime coverage with the added benefit of accumulating cash value over the years.

Fixed insurance premiums which cover the cost of the insurance and act as an investment. The investment component of a whole life insurance policy builds an accumulated cash value through equity growth and possible tax-deferred dividends or interest which build up over time. A policy holder can also borrow against or withdraw against the investment component of a whole life insurance policy.

• The need to provide dependents with cash quickly after the head of the family dies
• The need to have cash to liquidate business debt, pay off mortgages and/or help family members reduce their debts
• To fund requests from charities

• Premiums, life insurance policy face value and the surrender values are guaranteed
• You choose how long you want to pay the premiums for. You can pay for 10, 15, 20 or even 30 years, up to the age of 65 or later so you can plan according to your priorities
• Surrender values are available starting in the 11th year of the contract, and they continue to increase with time, allowing the accumulation of a fund that can be used as needed

Provides insurance coverage for a specific time period ex. 10, 15, 20, 25 or 30 years. Once the policy term expires it is up to the policy owner to decide if they want to renew the policy or let the coverage end.

Specifically designed to insure individuals against loss of life and has no additional cash value. If a person dies within a policy term, the death benefit is paid out. However, if the policy term has ended, no death benefit is paid. Policy holders can also take advantage of options to extend the coverage period or even transfer to a permanent life insurance solution should the need arise.

• Meet high, short-term protection needs for the lowest initial cost
• Gives you the option to pay off existing debts - like your mortgage
• Ensures you can maintain a comfortable lifestyle without having to worry about large premiums
• Even allows you to invest in other long term educational plans or RSP's

• Premiums guaranteed to remain the same for 10 or 20 years depending on your needs
• Affordable life insurance coverage
• No medical evidence required at renewal period. However, medical evidence may be required if coverage amount increases
• Ability to convert to a permanent life insurance policy
• Be rewarded for a healthy lifestyle - your personal health and lifestyle determines the premium for your insurance coverage
• Complete control of your coverage

Universal life insurance coverage is a bit of a combination of the low-cost protection of term life insurance plus a savings elements similar to whole life insurance.

Premiums in a universal life insurance policy are broken down into two components

• Cost of insurance - the premium value associated within this must be paid regularly so the policy stays in effect but can be shifted overtime as a users needs change.
• Savings component known as the cash value is the premium value paid in excess of the minimum cost of insurance.

Universal life insurance is best suited for individuals buying life insurance early in life (20's - 30's) as this gives the maximum time to build upon your life insurance policy. This ensures that you will let the policy mature for at least 10-15 years before you look at taking out the cash component or decide to shift any investments.

• Potentially won't need to pay insurance premiums for life but will still remain insured into your retirement. This helps reduce your costs as you get older.
• Take advantage of tax efficiency which help you build assets for your children, help protect your mortgage, enhance your retirement income and help protect your retirement savings.