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Whole Life Insurance

 

Whole Life Insurance is a form of permanent insurance that provides coverage for a lifetime, rather than a specified term. Depending on your plan the cost of the coverage is spread out over the lifetime of the policy or over a limited time period such 10, 15 or 20 years.

Additional features of Whole Life Insurance:

  • Guaranteed premiums that remain level throughout the life of the policy

  • Participating Whole Life Insurance policies earn dividends from the insurance company. This type of policy is usually more expensive than Non-Participating Whole Life Insurance.

  • Guaranteed cash value - unlike Term Life Insurance, some of the money you pay in premiums accumulates as guaranteed cash value. If you surrender the policy, this cash value would be available to you. In addition with some policies you are able to borrow against the cash value, but any amount that you haven't repaid when you pass away reduces the death benefit.

How much coverage you require will depend on several factors such as your lifestyle, age, number of dependents, income and assets. You can use our online Life Insurance Calculator to help you estimate how much is enough to ensure your loved ones are financially secure.

Here at ISI we are able to offer a range of Whole Life products from leading Canadian insurance providers, thus providing an opportunity to choose the plan that is just right for you. Please CLICK HERE if you would like to receive a no obligation quote or further information about Whole Life Insurance. For a complete list of our insurance providers please CLICK HERE.