Permanent Life Insurance, like WL and UL, as apposed to Term Life Insurance, like T10, or T20, afford permanent life insurance protection. So long as the required premiums are paid as due, is guaranteed to pay out a death benefit, regardless of when death occurs. Term Life insurance on the other hand, pay provided death occurs within the term of the Term Policy.

Given that a benefit will be paid; here are some of the typical reasons Canadians use the proceeds of a permanent policy. Keep in mind that Life insurance death proceeds do not attract any form of taxation (thus its TAX FREE). The proceeds create immediate liquidity, in other words, Tax Free CASH to fund such items as:

  • Last Expenses, if any
    • Funeral
    • Medical Bills
    • Outstanding Income Tax
  • Debt Liabilities, if any
    • Mortgage, Lines of Credit
    • Loans, Car, Investment loans
    • Credit Cards
  • College Fund shortfalls for children grandchildren
  • Retirement Income Savings shortfall
  • Deferred Tax Liabilities
    • Deferred Capital gains taxes on
      • Cottage, Condo
      • Stocks, bonds other investments
      • RRSP RRIF
  • Legacy Funding
    • Create liquidity for financing gift of capital assets like cottage, farm, condo etc.
    • Gifts to Children, Grandchildren.
  • Charitable Gifting
  • Business Application
    • Fund buy sell Agreements
    • Fund Loss of Key Employees
    • Collateral for Business Loans

There are different types of Permanent Life insurance. The three main ones are Term to age 100 or T100; Whole Life or WLand Universal Life [UL]. You need professional help in determining which permanent type is best suited for your particular circumstance.

For an initial free consultation and assistance please CONTACT us.







  • No comments found
Brock U.jpg Univerity college U of T, Toronto, ON.jpg Ukranian Church.jpg Via_1.jpg TorontoWaterFront.jpg cottagecountry.jpg Niagara falls.jpg Burlington.jpg Guelph U.jpg toronto harbour.jpg CFL TigerCat Cheerleaders, Hamilton, ON.jpg Croatian Franciscan Centre.jpg Rogers Center-football.jpg HartHouse, TorontoON.jpg Moose.jpg ROM1.jpg Halton Country.jpg Rogers Center 2.jpg Goose1.jpg UnionStation.jpg badlands.jpg LondonSkyline.jpg Niagara vineyard.jpg Queens U.jpg escarpment.jpg Sunset1.jpg Hamilton.jpg CottageCountry2.jpg vineyard2.jpg Eaton's Center.jpg Western U.jpg TorontoBeach.jpg RoyalYork.jpg CanadianRail.jpg Lake Muskoka.jpg Yonge St.jpg York U.jpg Queens U 2.jpg Wolf Lake.jpg Rogers Center 1.jpg WindMill.jpg parliament.jpg Pearson.jpg lightning.jpg Hockey Hall of Fame, Toronto, ON.jpg