Universal Life Insurance

NOTE: The introduction of the Tax Free Savings Account has made many Universal Life plans obsolete. If you have a U-Life policy call us for a review.  There may still good reason to continue with some U-Life plans so don’t cancel without a review

Tax Free Savings Accounts now offer similar investment advantages as Universal Life Policies, but without the fees and possible future taxes on a Universal Life Plan.

Universal life plans do have their place, especially if you already top up your TFSA and you still have cash flow to fund a U-life Policy. They are a great wealth building tool, for those who can afford them.

Summary of benefits:

    • Wide variety of investment selections
    • Access to assets while living
    • Assets become part of the tax free death benefit
    • Succession ownership possible -for estate planning

Some companies offer the ability to change the insureds in the plan, which make them useful for business purposes. . There are so many variables in uses and features that it would be folly for us to try to present them here. Contact us for free a consultation or a second opinion on your existing plan or to look at a new proposal. Email us at [email protected]