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Universal Life
Insurance
Universal Life Insurance is an extremely flexible form of life insurance. It is the most versatile insurance solution, providing a permanent insurance coverage to fit any situation. This insurance policy is perfect for long-term plan, as this contains flexible investment options like guaranteed investments and mutual funds.
Universal Life insurance combines both insurance coverage and an opportunity to invest in a tax sheltered investment environment. This is the only insurance policy, which covers both the things. Universal Life insurance policy lets you create wealth for the next generation, as the insurance coverage amount is greater then cumulative amount you pay in premiums. However, you have to pay the minimum amount to keep the policy from lapsing. Universal life insurance coverage is exceptionally flexible. You can choose the amount of life insurance you need now and change it later as your need changes.
Universal life insurance also gives you access to cash. When your investment plan has accumulated sufficient cash value, you can withdraw cash from it, or borrow money using the policy as collateral.
Advantage of Universal Life Insurance Policies:
- Only policy offering tax-sheltered life insurance in Canada.
- Provides permanent insurance coverage.
- Offers flexible investment options including mutual funds.
- Pay taxes that occur automatically at the time of death.
- Enhanced Buy-Sell agreements.
- Pension maximization.
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