50 absolute ave unit 3806 Mississauga Ontario L4Z0A8
Participating Life Insurance
With participating life insurance, you get lifetime insurance coverage with flexible, tax-efficient dividend options to grow your estate significantly or access cash when you need it.
How it works ?
Participating life insurance policies have 2 components: guaranteed values, including some cash surrender values, your premiums and your death benefit, and non-guaranteed dividends.
When you purchase participating life insurance, you get lifetime insurance coverage and the opportunity to earn dividends. These dividends can be used in different ways, such as:
- Provide a financial foundation for children and grandchildren.
- Support your growing business needs.
- Supplement your retirement income.
Ideal for you, your business or your loved ones !
- Maximize the value of the estate you plan to leave for your loved ones.
- Accumulate tax-preferred cash values that you can access during your lifetime.
- Increase your death benefit to keep pace with both inflation and growing estate-related taxes.
- Have the flexibility to adapt your coverage options as your needs evolve.
Features of Participating Life Insurance:
Participating life insurance can be a good option for individuals who are looking for a life insurance policy that provides both a death benefit and a savings component.
Guaranteed Death Benefit
Participating life insurance policies offer a guaranteed death benefit that will be paid out to the policyholder's beneficiaries upon their death, as long as premiums are paid. This can provide peace of mind and financial security to loved ones in the event of the policyholder's untimely death.
Cash Value
Participating life insurance policies include a savings component that grows over time. The policyholder can access the cash value through withdrawals or loans. This can be a useful source of funds for emergencies, education expenses, or retirement.
Dividends
Participating life insurance policies are eligible to receive dividends, which are a portion of the insurance company's profits. Dividends can be used to purchase additional coverage, reduce premiums, or be paid out as cash.
Tax Advantages
Participating life insurance policies offer tax advantages, as the growth in cash value is tax-deferred. In addition, the death benefit is generally not taxable to the policyholder's beneficiaries.
Long-Term Savings
Participating life insurance policies are designed to provide long-term savings and protection. This can be a useful financial planning tool for individuals who are looking to build wealth over time and provide financial security for their loved ones.
BENEFITS :
- Guaranteed, tax-free death benefit.
- Guaranteed premiums.
- 5 dividend options to meet your needs.
- Options include purchasing additional life insurance or reducing your premium with dividends received.
FLEXIBLE OPTIONS :
- Premiums payable for 10 years, 20 years or to age 100.
- Individual or joint coverage.
- Ability to stop paying premiums while maintaining your coverage.
CUSTOMIZE YOUR COVERAGE :
Customize your coverage and remain fully protected whatever the future holds by adding:
- An option that lets you increase your insurance amount as your needs change, without having to provide new evidence of insurability.
- Additional coverages for accident, fracture or dismemberment.
- Disability Waiver of Premiums to cover your monthly cost of insurance if you become disabled.
