Universal life insurance combines the assurance of lifelong protection alongside a selection of investment accounts available for you to build your wealth and maximize your retirement income.
With a universal life policy, you may contribute excesses of premiums into your choice of guaranteed interest account or indexed accounts. Over time this may result in a larger cash value on your life policy, which may be used for whatever purpose you wish. For this reason, universal life insurance may be a useful way to set aside money for the future when your RRSP is maxed out.
Universal life insurance may be the right insurance solution for seniors whom:
Want the freedom to earn money from their life insurance policy.
Wish to secure the maximum amount of retirement income possible.
Are seeking to build an investment portfolio with relatively low risk.
Some universal life policies allow you to invest the money back into the policy, which can lower your premiums for a cheaper policy.
Specialty Life works with leading Canadian insurers in order to provide you with a wide array of affordable life insurance options. Whether you need coverage for long or short-term needs, we can help you find your ideal insurance plan at a price you are comfortable with. Apply for a quote now and discover your options.