Universal Life

Universal life insurance uniquely combines permanent life insurance protection with the benefits of tax-advantaged investing.

Like an RRSP, a Universal Life policy allows you to accumulate interest while tax is deferred, enabling you to realize returns that may be significantly higher than those offered by traditional savings vehicles.

Universal Life is affordable and flexible coverage on your life and an investment component that offers you tax-sheltered guaranteed or variable investment choices.

Universal Life allows you to:

  •  
    • - Choose from a wide range of investment options for tax-advantaged investing according to your   
    •   personal risk-tolerance level
    • - Realize returns that may be far more significant than traditional savings vehicles because the
    •   Account Value of your policy grows on a tax-deferred basis 
    • - Earn bonus interest on amounts invested in your Universal life policy

With universal life insurance, you pay an amount of money that is deposited into one or more investment accounts. Each month, the insurance company takes out money to cover the cost of the insurance and administrative costs. The money left in the investment account earns a return based on the performance of the investment account(s) you have chosen inside the policy, and it is important to remember that you do not have to pay tax on any growth in the investment accounts because it is part of a life insurance policy, provided your policy value does not exceed an amount prescribed under the Income Tax Act.

 

 

 

Please contact us for your no-obligation consultation. We look forward to helping you and your family! 

 

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