Life Insurance

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?

Narrator: How would you feel if you had insurance protection for your whole life?
Description: A couple stands together, the woman is pregnant. A line protects them like a roof.Disclaimer appears: “As long as you make required insurance payments.”
Narrator: Now what if your insurance protection also had value that you could access for cash?
Description: The line moves downward and catches them, like a hammock. Disclaimer appears: “As long as your money remains in the policy, within legislative limits.”
Narrator: That’s exactly what you get with participating life insurance.
Description: Text “Participating Life Insurance appears.” A shield is drawn around the text.
Narrator: It’s protection that’s built on a foundation of guarantees.
Description: A line enters into frame.
Narrator: Starting with guaranteed premiums that won’t change.
Description: A block with the text “Guaranteed premiums” builds into frame.
Narrator: Name a charity or loved one for the death benefit – whomever you want – so money is available when they may need it most.
Description: First block is bumped up by another block with the text “Guaranteed death benefit.”Disclaimer appears: “You may have to pay taxes on funds withdrawn or borrowed from your policy. In addition, any withdrawals or loans will decrease the size of your death benefit.”
Narrator: Plus, your policy’s cash value is guaranteed to grow over time with tax advantages.
But that’s not all.
Description: Second block is bumped up by another block with the text “Guaranteed cash value.”
Narrator: We pool money that you, and every other participating life insurance policyowner, pay and put it into a separate account.
Description: Cut to stack of coins. More stacks slide into account. Money is moved out of smaller account into a larger one. Stacks of bills and coins slide in.
Narrator: That money is professionally managed and used to pay for the expenses, taxes, insurance claims and other items.
Description: Some money falls out of larger account into a box that reads text “Expenses, taxes, insurance claims and other items.”
Narrator: If the account performs better than we initially expected, you may get a dividend.
Description: Some money falls again into a box that reads “Dividend.” Disclaimer appears: “Dividends aren’t guaranteed.”
Narrator: And, you decide what happens to your dividends – take them as cash,
Description: Hand reaches into box and pulls out a few bills.
Narrator: buy more insurance
Description: An insurance policy comes out of the box, like a printer
Narrator: or pay for your existing coverage.
Description: Policy is circled as paid.
Narrator: It’s strong, it’s flexible and it’s there when you may need it most.
Description: Cut to couple again, time has passed, they watch their child is swinging on a tree swing.
Narrator: That’s participating life insurance.
Description: Text “Talk to your advisor today” appears with Freedom 55 Financial logo and legal.

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.

Financial planning and solutions

Your financial security plan should be as unique as you are. Tailor made to fit your needs.

Learn about our financial solutions

Related products

Health insurance

We provide a health and dental benefit plan, designed for individuals and families who are looking for help to pay expenses not covered by their provincial health plan.

Income and asset protection

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.

Plan for freedom today.

Freedom 55 Financial security advisors are with you every step of the way. Not only will they guide you through the financial security planning process by focusing on your personal needs and goals, they’ll help you understand your options so you can make smart choices. And as your needs change, your financial security plan can change, too. That’s true financial freedom.

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