Canada Life Permanent Life Insurance
With time, certain events may change the course of your life, but your policy coverage won’t. Build your wealth while providing financial security for your dear ones,
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Common questions
- Life Insurance can protect your family from any financial crisis
- You leave a completely tax-free inheritance to your dear ones or beneficiaries
- Life Insurance can pay for your funeral expenses
- You can clear your debts and loans with Life Insurance
Permanent Life Insurance
Protection for life
With time, certain events may change the course of your life, but your policy coverage won’t. Build your wealth while providing financial security for your dear ones.
It’s your choice and life
Have comfort knowing you’re safeguarding the things that matter the most to you.
A brighter and secure future for your children
Help pay for your child’s school or college.
Retirement income
Live the life you’ve dreamt of with Permanent Life Insurance.
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Permanent Life Insurance Quote Form
Get the best Insurance Quote from Canada Life
Call 1 844-542-4678 to speak to our advisors.
What is Permanent Life Insurance?
A lifelong insurance policy coverage that is guaranteed to protect your loved ones once you are gone. With time, you can build wealth and access the case during your life to take care of any expenses with specific tax implications.
You can get access to the money in your insurance policy through a withdrawal or a loan. When you pass away, the individuals you have nominated will stand to receive a tax-free benefit.
Get the best Insurance Quote from Canada Life
Call 1 844-542-4678 to speak to our advisors.
Various types of Permanent Life Insurance are available?
There are two types: Participating and Universal Life Insurance. Both these policies offer lifetime coverage and the chance to grow your wealth.
Participating Life Insurance
Universal Insurance
- Cash values on specific policies are guaranteed
- The choice to select your investment options
- Less costly than Participating Life Insurance
- Flexible premium payment options
Difference between Universal and Participating Life Insurance?
Universal and Participating Life Insurance are the two forms of Permanent Life Insurance policies. Below-mentioned is a comparison of the two:
| Participating Life Insurance | Universal Life Insurance | Common features |
|---|---|---|
| Guaranteed money grows inside your policy | Choose your investment options and control your risk profile | Lifetime insurance coverage |
| Conservative asset management | Cost-effective | Premium options guaranteed |
| Policy owner dividends | Flexible payment options | Pay-out is guaranteed |
Get the best Insurance Quote from Canada Life
Call 1 844-542-4678 to speak to our advisors.
How much insurance coverage do you need?
Preferably, you want to ensure your debts are paid off, so you don’t leave any significant expenses for your dear ones to struggle to pay it off.
Below-mentioned is a few things to consider:
- Your income and net worth
- Needs of your family
- Outstanding debts
- Other insurance policies you have
How much does it cost?
Permanent Life Insurance is costlier than term Life Insurance. The price of thepolicy varies and is based on a few factors, including:
- Age: If you are a young individual, Permanent Life Insurance is cheaper.
- Health: The cost of the policy can increase based on your family’s medical history, lifestyle, and chronic diseases.
- Gender: The insurance cost for women is much cheaper as they live longer than men on average.
- Occupation: The term Life Insurance cost can be high if your job is risky.