Whole Life insurance can offer professionals 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 professionals who have maximized non-registered and registered savings options but have additional assets
inside a professional corporation that could benefit from additional tax-advantaged options.
Whole life insurance is a solution that provides:
- Protection for the family with the life insurance death benefit and building significant cash values on a tax deferred basis
- A tool to pass the cash values through a private company to the next generation
- cash value can be used as collateral for bank loans
- Loan liabilities can be paid off at death
- To compliment retirement income