Whole Life Insurance

Do you want to make sure that you are covered permanently, for your entire lifetime? Unlike term life insurance, whole life never expires meaning you are insured for as long as you live. Plus, a whole life insurance policy adds the benefit of built in savings. This level of protection comes at a price though, as the premiums you pay are typically much higher than term life insurance.

What's the Catch?

Before you sign the dotted line, there are a few things you will want to take into consideration. Firstly, because you are entitled to a portion of the cash value of your policy, the premiums you pay will be significantly higher compared to term life insurance. And second, any loans or withdrawal s you take from your account can reduce your death benefit payout.

How Do I Get More Information?

Due to the fact that a whole life insurance policy is not as straight forward as term life insurance, it is recommended that you speak with a certified insurance broker. Many insurance companies offer their own variations, and the best option is to speak with someone about which plan would fit your life best. LifeCover.ca specializes in finding you the coverage you need, at a price you deserve. Find out how we can help you by requesting a free comparison report.