Permanent Life Insurance

Permanent Life Insurance policies include insurance and savings in a single tax-advantaged plan.

With Permanent life insurance you have the ability to change your coverage, deposits and often your investment choices in response to your changing needs, conditions, or circumstances.

The two most common types of Permanent Life Insurance are Whole Life and Universal Life.

Whole Life is the type of insurance where the insurance protection and the savings component are bundled together and the savings component is managed by the insurance company. A hands off approach.

Universal Life on the other hand is an unbundled plan. Deposits are applied to the policy as they are paid each month or year. The insurance company deducts the insurance administrative costs from the deposits. The balance of the deposit is then applied to the saving account which is made up of a selection of investment options within the policy that you can manage.

With the savings component to a Permanent insurance plan, one can develop significant cash values which the owner of the policy may use through surrender, policy loans or leveraging. The excess deposits and cash value accumulates in the policy on a tax-deferred basis. Provided your policy value does not exceed an amount prescribed under the income tax act.

Contact our office if you need more information about Permanent Life Insurance.

Subscribe to our Newsletter

Click Here for Current Issue

* 
* 
* 

Email marketing by AdvisorNet Communications Inc

Happy Clients

Bill Thompson has helped my family and I achieve a new level of financial peace of mind. I have received excellent advice on a wide variety of complex financial situation. Won't hesitate to recommend Bill and his team.

Peter Stanley

Plant Manager, Oshawa, Ontario

This company is the best financial services company that I have ever worked with. I recommend them often to my family and friends.

Jane Smith

Dentist, Toronto, Ontario

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim minim veniam, quis nostrud exercitation nisi.

John Smith

VP Marketing & Sales
ABC Real Estate