What is universal life insurance?
Universal life insurance is an all-in-one way to get the protection you need and build your savings. The policy combines permanent life insurance (whole 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 that will be paid to your beneficiaries and the payments you make above the cost of insurance can grow in a tax-preferred savings account or be used to increase the amount of your death benefit.
Is universal life insurance right for you?
Universal life insurance is of particular interest to people who:
- Have maximized their RRSP contributions
- Want to enhance their estate for their children and grandchildren
- Are business owners looking for a tax-efficient way to protect the value of their business
An advisor can provide you with the most accurate life insurance quote and find you the best coverage for your needs.
Types of universal life insurance:
SunSpectrum Universal Life
- SunSpectrum Universal Life provides permanent life insurance protection to help meet your long-term needs, plus the opportunity for tax-preferred growth in savings
- Single and joint policies are available
- The policy fund offers 18 investment options
- SunUniversalLife provides our most extensive combination of insurance features and investment options for maximum flexibility
- Single, joint and multiple life policies are available
- The policy fund offers 42 diversified investment options
Get universal life insurance
Step 1: Find an advisor
An advisor can help you determine the right life insurance for your needs. Talk to your advisor or find one near you to help answer your questions – there is no cost to talk to an advisor.