Protect the ones you love
Life insurance is an important part of any sound financial security plan. It can mean the difference between leaving your loved ones financially secure or struggling with debt.
Term life insurance
Term life insurance is a simple and affordable way to help you meet short-term protection needs over a defined period of time, 10 or 20 years. It is ideal for those seeking basic coverage when insurance needs/financial risks are highest but available funds are limited – for example, a couple with young children and/or mortgage.
Permanent life insurance
Permanent life insurance provides insurance coverage for life. It also offers cash values that can grow over time to either increase the value of your death benefit or help pay for future goals like an education fund, starting a new business, or supplementing your retirement income.
Participating life insurance
Also called whole life insurance, participating life insurance provides lifelong insurance coverage with an opportunity for a tax-advantaged cash value component (a guaranteed amount of money that grows inside the policy) and death benefit growth.
These policies give you the opportunity to earn policyowner dividends which can be used to purchase additional insurance coverage, or reduce your annual premium payments. Dividends when credited to the policy have a cash value. You can withdraw cash from these policies or borrow against the policy’s cash value.
Universal life insurance
Universal life insurance combines the benefits of a lifetime insurance policy with a tax-advantaged investment component that you select and manage based on your risk profile and objectives. It also offers the added convenience and flexibility of adjustable premium and payment schedules.
What is participating life insurance?
Strong, flexible and built on a foundation of guarantees, participating life insurance gives you lifelong protection and value you can access for cash.
A financial security plan that includes critical illness and income replacement insurance can help financially protect you and your loved ones, and help realize your long-term goals.