Universal life coverage can provide permanent life insurance protection with a tax-advantaged investment component. As cash values accumulate, they can be used to pay part or all of the cost of your insurance.
In addition to providing security and protection through its insurance component, universal policies can provide an additional source of income for emergencies, retirement or for estate planning needs.
We will help you select an investment mix that is best for you taking into account the amount of risk you are comfortable with, your financial goals and time horizon.
Planning considerations such as family trusts, holding companies and professional corporations may need to be addressed to maximize the benefit of your universal life policy.
The total account value in your policy can grow on a tax-advantaged basis within limits set by Revenue Canada. The insurance proceeds paid to your beneficiary upon your death are tax-free and may include the total account value you have accumulated over the years.
We will take the time to understand your position and help fit all the pieces together, including working with your lawyer and accountant.
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Contact Us and a licensed life agent serving Whitby will take time to ensure you clearly understand all your options.
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We are here to help, even if it is as simple as finding the right phone number for that policy you bought when you got married.
Group Annuity: A contract providing annuities at retirement to a group of people in a pension plan. Usually, it is issued to an employer for the benefit of employees. The individual members of the group hold certificates as evidence of their annuities.