Universal life insurance

Universal life insurance offers protection for your whole life with the added benefit of building your savings. Universal life insurance is a practical solution to increase your savings alongside your TFSA or RRSP, leave money for your beneficiaries or use to pay future premiums.

The cost is guaranteed for the life of the policy with the benefit of savings component when you pay above the premium. The savings component has a variety of investment options to increase your savings growth on a tax-preferred basis. If you die when the policy is in effect, a tax-free payment goes to the person or people (beneficiaries) you named in the policy.

The savings component is great for business owners looking for a tax-efficient method to protect the value of their business. 

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