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Permanent life insurance

Protection for life

Your life may change but your coverage won’t. Help provide lifetime financial security for your loved ones, while building your wealth.

  • It’s yours for life

    Comfort knowing you’re protecting the things that matter most.

  • A brighter future for your kids

    Help pay for college or university.

  • Retirement income

    Build your savings to help live the life you want.

What is permanent life insurance?

It’s guaranteed lifelong coverage that protects the people you care about. But it’s more than just insurance. Over time your policy can build value you can access for cash during your life, with certain tax implications.  

You can access money in your policy through a loan or a withdrawal. And when you die, the people you’ve chosen receive a tax-free payment, similar to term life insurance.  

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What types of permanent life insurance are available?

Both participating and universal life offer lifetime coverage and the opportunity for tax-free cash growth, but they’re structured differently. 

Participating life insurance

  • Guaranteed cash values
  • Guaranteed insurance payout
  • May pay a yearly dividend
  • Premiums stay the same
View participating life insurance

Universal insurance

  • Guaranteed cash values on some policies
  • Choose your investment options
  • Generally less expensive than participating life insurance
  • Flexibility in premium payments
View universal life insurance

What is the difference between universal and participating life insurance?

Universal and participating life insurance are the 2 forms of permanent protection. Here’s how they compare: 

Participating life insurance

Universal life insurance

Common features

  • Guaranteed money grows inside your policy
  • Conservative asset management
  • Policyowner dividends
  • Manage your risk profile and choose investment options
  • Cost effective
  • Payment flexibility
  • Lifetime insurance coverage
  • Guaranteed premium options
  • Guaranteed payout

How much insurance coverage do you need?

Ideally, you want to make sure your debts are covered, so you don’t leave major expenses behind for your loved ones.

Here are a few things to consider:

  • Your income
  • Net worth
  • Family needs
  • Debt
  • Other insurance you have 

How much does it cost?

Generally, permanent insurance costs more than term insurance, but there are a lot of factors that determine the cost of your policy, including:

  • Age

    Generally, insurance is less expensive when you’re younger.

  • Health

    Family history, chronic diseases and lifestyle can increase costs.

  • Gender

    Women live longer than men on average, so insurance may cost less.

  • Occupation

    If you have a dangerous job, your insurance costs can be higher.

Submit a claim online

Notify us of a death and/or make a claim on a wealth or life insurance policy bought through an advisor.

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