Universal life insurance is permanent life insurance that offers you flexible, cost-effective lifetime coverage that can be tailored to fit your changing lifestyle needs.

It’s combined with a tax-advantaged investment component, which you can manage according to your financial plan and risk tolerance. On the death of the life insured, any growth of investments held within the policy will be included in the death benefit as a lump-sum tax-free payment to the beneficiaries.

The death benefit may be used to:

  • Cover costs associated with final expenses
  • Pay taxes on registered assets and capital gains
  • Facilitate wealth transfer and succession planning

The cash values may be used to:

  • Help make future premium payments
  • Provide a source of future savings
  • Be borrowed against, withdrawn or left to your beneficiaries. 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