Individual Life Insurance

Term Life Insurance

Term insurance, as the name implies, provides insurance protection for a specific length of time.  Term life insurance is well suited to meeting high, short-term protection needs for the lowest initial cost.  The term insurance policies that we offer are renewable after 10 or 20 years without providing proof of health.

  • Term insurance can provide your beneficiaries with the funds needed to pay estate taxes, provide an income for your family, or leave a legacy to your favourite charity
  • For business owners, term life insurance may be a cost-effective method for funding a buy-sell agreement, helping to ensure that funds are there when they’re needed.
  • Life insurance proceeds can provide immediate tax-free capital to help the business replace a key person or employee.

Permanent Life Insurance

Permanent life insurance provides life insurance protection for the insured's lifetime. Cash values and paid-up values are available on the majority of permanent insurance plans. Permanent insurance is available in two forms, namely participating and non-participating.

  • Participating whole life insurance premiums that policyowners pay go into the participating account with premiums from other participating policyowners. 
  • The philosophy underlying Participating life insurance policies is to provide policyowners with insurance at a cost that takes into account the long-term performance of the participating account.  If the participating account performs better than the guaranteed values a dividend will be declared and credited to the policyowner.
  • With the potential for earning policyowner dividends in addition to the guaranteed cash values, Participating life insurance allows policyowners the opportunity to share in the success of the pool of participating policies.  The performance of the participating account is measured by a variety of factors such as investment income, asset defaults, mortality, lapses, expenses and taxes.
  • Participating insurance affords you the benefit of having lifetime insurance protection, as well as the benefits of tax-advantaged policy cash values for future use during your lifetime.

Universal Life Insurance

Universal life insurance uniquely combines permanent life insurance protection with the benefit of tax-advantaged savings components. 

  • For those who prefer hands on investment management, Universal life insurance policies include a variety of tax-advantaged interest options that allow you to select interest options, including equity-linked options, to compliment your specific risk tolerance level.
  • With extreme premium flexibility, universal life appeals to those who wish to choose the amount of premium to pay within the minimum and the maximum premium defined in the contract. As long as there are sufficient funds to maintain the policy, the premium payment and premium frequency are flexible. To provide even more flexibility, universal life allows you to choose from two or more cost of insurance options to manage the costs to best suit your needs.
  • Universal life is managed at the policy level and investment performance (net of MER’s) of the policyowner’s asset mix is reported separately, making Universal life attractive for you if you would prefer to see the insurance components identified separately.
  • The universal life insurance policies that we offer, provide you with a variety of options and features so you can customize your policy to meet your needs.

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