Whole Life insurance offers permanent protection for life. In addition, the policies provide for tax-advantaged investing with guaranteed
premiums and cash values.
The features you get in Whole Life insurance that are not available in other types of life insurance are:
- Premiums are guaranteed. The premium choices are, premiums paid for life, or for a limited number of years, example 10 years or 20 years.
Like pre-paying your mortgage if premiums are paid over a shorter period the premiums will be higher.
- The death benefit is also guaranteed if premiums are continued.
- Whole life insurance policies also have a guaranteed cash value. The cash values grow over time depending on the premium level and the
dividend credited rate.
- The dividend rate is determined once per year.
Whole life insurance is for businessowners who have maximized non-registered and registered savings options but have additional assets that
they could benefit from additional tax-advantaged options.
Whole life insurance is a solution for businessowners looking to:
- Protect their business and maintain some access to cash
- Pass on the cash values in a private company
- The cash value can be used as collateral for bank loans
- Loan liabilities can be paid off at death