Skip to customer sign in Skip to content Skip to footer

Insuring your life

Simply put: What is permanent life insurance? (Video)

When you buy a permanent life insurance policy, both the premium and benefit are typically guaranteed for the rest of your life.

All life insurance is designed to provide the people you love with financial security when you die. When you buy a permanent life insurance policy, both the premium – what you pay – and the benefit – what the insurance company pays out after you die – are typically guaranteed for the rest of your life.

Use our life insurance calculator to find out how much coverage you may need.

Learn more about the advantages of permanent life insurance:

 

Video Transcription

What is life insurance?

All life insurance is designed to provide your loved ones with financial security when you die. One of the most common types of life insurance is called permanent life insurance.

What’s the advantage of permanent life insurance?

Simply put, when you buy a permanent life insurance policy, the benefit is guaranteed for the rest of your life. The premium is also typically guaranteed for the life of the policy, although some products are adjustable.

Permanent life insurance provides you with the security of knowing your loved ones will have lasting, stable protection. As you age, or as your health deteriorates, purchasing a new plan becomes much more costly, so permanent life insurance provides peace of mind early, leaving you free to enjoy your life now.

Find more tips and tools at sunlife.ca. Life's brighter under the sun.

Related articles