Life Insurance

Term Insurance

Plan Types

Description

Short term protection covers liability and mortgage
Most affordable Life Insurance.
Premiums are locked in for the entire term of your policy.
Renewable at the end of the specified duration.
Conversion options: Can be converted to a permanent plan without medical evidence.
Your designated beneficiaries will receive the death benefit tax-free.

Term 10

Term 20

Term 30

Term 65

Term 75

Term 100

Plan Types

Description

Protected for your entire life
The premiums are fixed according to plan preference
Quick pay options allow flexibility of premium payment duration. Policy is guaranteed to be paid-up at
the end of 10, 15 or 20 years, whereby no further premium payments are required while providing protection for life!
Invest wisely- Since you are at less risk when you are young, premiums are much lower and you will
secure lifetime coverage that is more cost-effective than term insurance in the long run.
Contains Guaranteed Cash Values - A portion of the paid premiums are allocated to the “Guaranteed Cash Value” reserve which are available should the policy owner decide to surrender/terminate the policy. Alternatively, borrowing against the cash values is an option at the interest rate determined by the carrier.
Highly recommended for young adults

10 Pay
15 Pay
20 Pay
65 Pay
100 Pay

Plan Types

Description

Tax Free Benefits: Whether you choose cost of insurance level or increase (YRT or ART), the policy amounts paid to beneficiaries is tax free.
Tax Shelter: Universal life insurance policies have a policy
accumulation fund portion; and it accumulates on a tax sheltered basis. Most Canadian insurance companies offer a range of investment options with all risk levels.
Tax Free Accumulation: Money stays in your policy accumulation fund and grows tax free.
Recommendation: Highly recommended for business owners or self employed individuals.

10 Pay

20 Pay

100 Pay

*Varies by carrier

Term Insurance

Whole Life

Universal Life