Term Life
For ten, twenty, or thirty years.
By offering low-cost life insurance protection, term life insurance can help you achieve your financial goals.
Whole Life
With 20 pay options
Lifelong insurance protection and the chance to build tax-advantaged cash value, participating life insurance may be right for you.
Universal Life
More flexibility
It’s permanent life insurance that comes with the flexibility to meet your unique needs.
Who is Term Life for?
If you believe life insurance is essential but you’re looking for a solution that’s more affordable than permanent, lifelong insurance, you may be interested in term life insurance. This kind of life insurance protects you for a set period of time at the lowest initial cost.
That means term life insurance may be a prudent choice for young adults, people with young families or those looking to protect their small business. But it’s a worthwhile option for just about anyone interested in acquiring life insurance at a relatively low cost.
How will this help me?
Term life insurance provides low-cost life insurance protection for you and your family. Because it’s more affordable than permanent life insurance, term life insurance allows you to purchase more coverage. Additionally, premium payments are locked in, meaning they won’t change during your selected term (either 10 or 20 years).
In addition, if you have term life insurance and pass away, your chosen beneficiaries – such as your husband, wife, children, other family members or friends – will receive a lump sum payment that can be used to help pay for your funeral and other important expenses.
Who is Whole Life for?
If your goals are to acquire protection for the rest of your life and the ability to build cash value to support your financial goals, participating life insurance may be the solution you’re looking for. As opposed to term life insurance – which only protects you for a set period of time – participating life insurance lasts your entire lifetime (so long as you continue to pay your premiums).
If you already have term life insurance, you can convert to participating life insurance without undergoing further medical examination. Your financial security advisor can tell you more about how this process works.
How will this help me?
Participating life insurance will provide coverage for life. It’s simple: Keep paying the required premiums and you’ll always be insured. Money made available through participating life insurance can be paid to your named beneficiaries tax-free when you pass away, potentially making the process of settling your estate much easier for your loved ones. Overall, a participating life insurance policy can help protect you and your family while having access to cash values during your lifetime.
Who is Universal life for?
If you want the ability to make changes to your life insurance, universal life insurance may be right for you. Those who feel that neither term life insurance nor participating life insurance are flexible enough to meet their needs may find what they need in universal life insurance.
Unlike term life insurance, universal life insurance is permanent life insurance, meaning it won’t end (so long as you keep paying your premiums). And unlike participating life insurance, it can be more flexible – for example, you can make changes to your premium payments (within legislative limits), allowing you to match your changing needs and financial situation.
How will this help me?
Universal life insurance provides you with life insurance protection and the opportunity to build tax-advantaged cash value to support your unique financial goals. In essence, this type of life insurance blends traditional life insurance with a tax-advantaged investment component, meaning it can help build wealth over time. If your investment component performs well, you can use the funds to help reach your financial goals, such as financing a child’s post-secondary education or starting a business.