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Whole Life Insurance

Whole Life Insurance (Participating)

Whole life insurance is a permeant life insurance policy which is guaranteed to remain in force for the entire lifetime of the insured provided that premiums are paid according to the contract made between the insurance company and the insured.

Some of the benefits of a whole life insurance policy are as follows:

You can pay off your whole life insurance in 10 or 20 years (limited pay policy) and the policy will remain in force for the rest of your life.
You can have access to a guaranteed cash value in your policy for any unexpected expenses or to use it as a supplement for your retirement income.
In a participating whole life insurance, since a portion of your premiums are invested, the earnings from those investments may be paid out as dividends you can use to either buy additional coverage or reduce your annual premium.
The death benefits will be paid tax-free to the beneficiary or estate specified in your policy.
The cash value built up in your whole life policy can be used as a collateral for a loan.
The death benefit will be increased by any accumulated dividend or decreased by any outstanding policy loan.

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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