Universal Life

Another key difference between universal life coverage and term life insurance is that in addition to providing life insurance protection, there is also a savings component to your policy. Similarly to RRSPs, a universal life policy allows you to accumulate interest while tax is deferred*, enabling you to realize returns that may be significantly higher than those offered by traditional savings vehicles.

The returns you earn depend on the investment option you select. Returns of the Treasury Bill and Fixed Rate Interest Options are guaranteed. With other interest options, you accept the risk of price variations - both upward and

downward. Within the limits of your policy, and as long as you cover the minimum cost of your insurance protection, you can decide how much or how little money would you would like to pay into the policy. As you accumulate funds within your universal life policy, you decide how your premium is invested and can withdraw cash from your policy (some withdrawal charges apply) or borrow against it.

Universal Life Insurance

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