Canada life ul investment options

By: Macklay On: 28.05.2017

Universal life insurance gives you lifelong protection and the potential to grow your wealth over time.

canada life ul investment options

Universal life insurance offers you flexible, cost-effective lifetime coverage that can be personalized to match your changing lifestyle. With the ability to adjust your premium payments within certain limits to your changing needs and situation, universal life insurance is ideal for those focused on obtaining flexible coverage.

And unlike term life insurance — which only offers coverage for a set period of time — universal life insurance makes sure you and your family are protected for life, provided you pay your premiums. With an added investment component you have the opportunity to grow your wealth over time, making it an excellent option if you want to utilize your insurance while you are still living.

The remaining balance is invested on a tax-advantaged basis.

Why Whole Life Insurance Is a Bad Investment - Mom and Dad Money

You choose from a variety of investment account options based on your objectives and tolerance for risk. The growth of your investment account depends on how well your investments perform, and the size of your premium payments. The money in the account can be used to help make future premium payments or provide a source of future savings. That money can be borrowed against, withdrawn or left to your beneficiaries.

Guaranteed Interest Options < Canada Life

Keep in mind that borrowing or withdrawing money from your policy will reduce its cash value, and how much money your beneficiaries will receive when you die. Universal life insurance offers cost-effective lifelong protection, combined with the opportunity to build tax-advantaged cash value to support your financial goals. It is flexible to match your changing needs and situation, so you can help make sure your family maintains a comfortable lifestyle.

Set your own schedule Pay your premiums on a set schedule, or as your budget allows. You can also adjust your premium payments within limits in the future without impacting your coverage, provided your policy has enough money in your investment account to cover the cost of your insurance.

Not feeling confident in your finances? You can talk to an advisor who will work with you to craft a financial plan tailored to your needs.

canada life ul investment options

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