Life Insurance
Term Life Insurance
- Provides your family with financial security if something were to happens to you
- Provides protection to your family for a limited time
- Gives flexibility on the length and amount of coverages
Permanent Life Insurance
- Lifelong coverage with a guaranteed acceptance or required a simple medical report
- Premiums may never increase as you age
- Build your savings to help live the life you want
Whole Life Insurance
- Earn dividends to protect your family and estates
- Lifetime coverage with cash value guarantees
- Ability to choose how long to pay for premium and frequency
Universal Life Insurance
- Provides lifetime coverage and helps in a tax advantage policy to save for the future
- Amounts of premiums are invested where it grows tax advantage
- Can make partial withdrawal
Sources: Investopedia, Sun Life Financial, RBC Insurance.
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