Flexible, Lifelong Coverage with Investment Options
Universal Life Insurance Made Simple
Lifelong protection with flexible coverage and tax-efficient cash value growth—designed for Canadians.
What is Universal Life Insurance?
Universal life insurance provides permanent coverage while allowing you to adjust premiums and build tax-advantaged cash value over time.
Offers flexible premium payments based on your financial situation.
Builds tax-deferred cash value through investments.
Benefits of Universal Life Insurance in Canada
Investment options to grow cash value over time.
Lifelong protection with tax-deferred cash value growth.
Adjustable death benefit as your financial needs change.
Combines insurance protection with long-term wealth-building potential.
Universal vs. Whole Life Insurance: Which Is Right for You?
Both universal and whole life insurance offer lifelong coverage, but universal life provides more flexibility for those who want greater control over their premiums and cash value growth.
Universal Life Insurance
Universal life insurance offers adjustable premiums and the opportunity to grow cash value through tax-advantaged investments.
Flexible premiums tailored to your budget and needs.
Investment growth potential with tax-deferred advantages.
Access to accumulated cash value while you’re still alive.
Whole Life Insurance
Whole life insurance provides fixed premiums, guaranteed cash value growth, and lifelong protection.
Fixed premiums that never change.
Guaranteed cash value growth over time.
Ideal for those wanting long-term stability and simplicity.
How Universal Life Insurance Works in Canada
Universal life insurance combines lifelong protection with an investment component, giving you flexible premiums and the ability to grow tax-advantaged cash value.
Pay flexible premiums that can increase or decrease based on your financial situation.
Withdraw or borrow from the cash value while keeping your coverage active.
Who Should Consider Universal Life Insurance?
Individuals seeking flexible premiums and long-term investment growth.
Canadians who want more control over their insurance and savings strategy.
High-income earners looking to maximize tax-advantaged wealth accumulation.
FAQs About Universal Life Insurance
Enjoy life’s milestones and adventures with affordable life insurance in your back pocket.
What is universal life insurance?
Universal life insurance is permanent coverage that includes an investment component. It allows flexible premiums and builds tax-deferred cash value over time.
How do UL premiums work?
With UL, you can increase or decrease your premium payments within certain limits. Part of your premium covers the insurance cost, and the remainder goes into a cash value account that can grow through investments.
How does the cash value grow?
Cash value grows tax-deferred based on the investment options available in your policy. Growth is not guaranteed and depends on market performance, fees, and the policy structure.
Can I withdraw or borrow from my UL policy?
Yes. You can access the cash value through withdrawals or policy loans. Withdrawals may reduce your death benefit, and loans may accrue interest if not repaid.
Is universal life insurance risky?
UL involves investment risk. If market returns are low or fees exceed growth, your cash value may not perform as expected. You may need to increase premiums to maintain coverage.
Who is universal life insurance best suited for?
UL is ideal for individuals seeking flexible premiums, long-term tax advantages, and investment growth potential—typically higher-income earners or those with more complex financial goals.
Are universal life insurance returns guaranteed?
No. The cash value portion of a UL policy is not guaranteed and depends on market performance and investment choices. Some policies offer minimum interest guarantees, but growth can still vary widely.
Can my universal life policy lapse?
Yes. If the cash value becomes too low to cover the insurance cost and you don’t increase your premiums, the policy may lapse. Regular reviews help ensure the policy stays funded.
Is universal life insurance tax-free?
The death benefit is tax-free, and cash value growth is tax-deferred. Withdrawals or loans may have tax implications depending on how and when they’re taken.
How do I know if universal life is the right choice for me?
UL is best for people who want lifelong coverage, flexibility, and tax-efficient growth — especially those with higher incomes, long-term planning needs, or comfort with market-linked investments.
Find the Right Universal Life Insurance in Canada
