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Universal Life Insurance

Universal Life Insurance

Universal life insurance provides you with not only the protection you need for life but also allows you to build your savings. It is basically a combination of permanent life protection with a broad range of investment options to have a tax-deferred growth of your savings portion of your policy.

The key points to highlight on universal life insurance can be summarized as below:

A portion of the premium you pay will be for the purchase of the insurance and the rest will be invested on your behalf and will grow over time.
To supplement your retirement income or during the time of an illness, you can always access to funds accumulated in your policy.
The Universal life insurance will give you coverage for the rest of your life and the policy will not end after a certain period of time.
Universal life insurance helps you protect your assets and pass them to your beneficiaries.
Upon your death, provided that your universal life policy was in force, your beneficiaries or estate can receive death benefits tax-free. Death benefit includes the face value of the policy along with any cash value accumulated in your account.
The growth of your cash value in your policy, since it is tax-deferred, is more rapid compared to an investment that is subject to taxation.
You can have universal life insurance policy, along with TFSA and RRSP, to build your savings.

Due to the great variety of conditions and facilities in preparing and using any kinds of insurance, it is recommended that you consult with one of our insurance advisors before making any decision. Our expert team at Forever Insure is always ready to provide the right consultation to you and thus help you make the right choice.

For more information, please contact one of our advisors at Forever Insure for a free consultation.
  • 647-518-1390
  • info@foreverinsure.ca

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