Lifelong protection that adapts to your plans.
Universal life insurance is a type of permanent life insurance that pairs a death benefit with a tax-advantaged savings component. Part of each premium pays for the insurance; the rest goes into an account you can invest in a range of options. Growth inside the policy is tax-sheltered within government limits.
Benefits of universal life insurance
- Lifelong coverage for you and your family.
- Flexible premiums — increase, reduce or skip payments within the policy's limits.
- Investment choice — choose how the savings component is invested.
- Tax-advantaged growth that can help with retirement and estate planning.
Is universal life insurance right for you?
Universal life is well suited to people who want permanent coverage and are comfortable taking an active role in how their policy is invested — for example business owners, high-income earners who have maximized other tax-sheltered savings, and anyone planning to transfer wealth to the next generation. If you prefer guarantees, whole life insurance may be a better fit, and term life insurance offers the lowest-cost coverage.
Our Brampton advisers will walk you through the options, explain the inclusions and exclusions, and recommend a plan that fits your financial goals.