Non participating whole life policies
Whole life insurance is designed to provide coverage for the life of the insured. Whole life policies generally offer fixed premiums, guaranteed death benefits and are designed to build a tax deferred cash value.
You can choose to pay up the policy in 20 years.
Participating Whole Life Insurance
A participating whole life insurance pays dividends. The dividends represent the favourable experience of the insurance company. Dividends cane be paid in cash,used to reduce the your insurance payment, left to accumulate at a specified rate of interest or used to purchase paid-up additional insurance.
The additional paid-up life insurance will increase your sum insured and the value of the cash value of your policy.
The policy can be paid-up in 20 years and you are entitled to continue to receive dividends as long as the policy is in force.
Universal Life Insurance Policies
Universal life insurance policies combines permanent life insurance protection with the option to accumulate tax-deferred growth.
You can choose to pay within the minimum and maximum premium indicated in your contract. The minimum premium is required to keep your policy in force. Any amount in excess of the minimum is invested in the various funds in accordance with your investor profile.