What is universal life insurance?
Universal life insurance is an all-in-one way to get the protection you need and build your savings.
There are two parts to a universal life insurance policy: insurance and investment. You choose your investments and wealth can accumulate tax-free, within limits set by the government. You can withdraw or borrow from your policy, with certain tax implications. You can also choose who to leave your money to.
Why choose universal life insurance?
With universal life insurance, you have permanent coverage for life—your coverage does not end after a certain period.
The policy combines permanent life insurance protection for lifelong peace of mind with a broad range of investment account options for tax-preferred savings growth. You choose a guaranteed death benefit for your beneficiaries and the payments you make above the cost of insurance can grow in a tax-preferred savings account. Or you can use them to increase the amount of your death benefit.
Benefits of universal life insurance
If you die during the time period when coverage is in effect, your beneficiaries or estate can receive the death benefit tax-free.
Some features include: Tax-Free Benefit (your beneficiary or estate receives the death benefit tax-free), Death Benefit Options (choose from a fixed protection or increasing protection based on your needs), Flexibility (choose how much to pay into your policy and how you want to pay your premiums), Range of Investments (create the portfolio that is right for you with a range of investments called interest options).
What is universal life insurance?
Universal life insurance is an all-in-one way to get the protection you need and build your savings.
There are two parts to a universal life insurance policy: insurance and investment. You choose your investments and wealth can accumulate tax-free, within limits set by the government. You can withdraw or borrow from your policy, with certain tax implications. You can also choose who to leave your money to.
Why choose universal life insurance?
With universal life insurance, you have permanent coverage for life—your coverage does not end after a certain period.
The policy combines permanent life insurance protection for lifelong peace of mind with a broad range of investment account options for tax-preferred savings growth. You choose a guaranteed death benefit for your beneficiaries and the payments you make above the cost of insurance can grow in a tax-preferred savings account. Or you can use them to increase the amount of your death benefit.
Benefits of universal life insurance
If you die during the time period when coverage is in effect, your beneficiaries or estate can receive the death benefit tax-free.
Some features include: Tax-Free Benefit (your beneficiary or estate receives the death benefit tax-free), Death Benefit Options (choose from a fixed protection or increasing protection based on your needs), Flexibility (choose how much to pay into your policy and how you want to pay your premiums), Range of Investments (create the portfolio that is right for you with a range of investments called interest options).
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(905) 550-2157
(647) 972-6641
68 Church Street S.
Ajax, Ontario L1S 6B3
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info@williamsandcroft.ca