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Life Insurance

Temporary Insurance

  • Lowest cost solution
  • Meets a need with a limited timeframe: mortgage, automobile, period during which children are dependent
  • Can be offered based on terms, i.e. T-1, T-5, T-10, T-20, T-65 and T-75
  • Most of the time, this product is renewable and transferable.

Permanent Insurance

  • Cost and coverage fixed for life
  • Premiums are often waived at a specific point in time
  • Very rigid product structure
  • Has a cash value component or pays dividends, depending on the plan

Universal Insurance

  • Product offered based on a TRA (T-1) or uniform (T-100) timeframe
  • Offers greater flexibility given the premium paid under the plan
  • Allows savings to grow tax free
  • Can be a very efficient for financial planning (retirement or estate planning)
  • The value is available to the insured during their lifetime

Your advisor would have to analyze your financial needs to select the product that is best suited to your situation.

Life insurance as a financial driver

Life insurance is often used by tax specialists as a way to grow your savings tax free. In this context, life insurance can also be used as a very powerful investment tool to help you prepare for your retirement; it can become a real estate investment or provide substantial tax benefits for succession purposes.

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