Life insurance

Term life insurance is affordable and the simplest form of Life Insurance that gives you flexible protection.

In Term Insurance the cost of insurance remains the same for a specific period of time (term), there is usually an option to renew the coverage after the initial term at a higher premium. If you die while the policy is in effect, a tax-free payment will go to the person or people you name as you beneficiaries. With most of the term policies, you can also convert your coverage to permanent insurance.

Participating life insurance provides a combination of permanent life insurance (whole life insurance) protection and an opportunity for tax-preferred cash value growth. The base insurance protection is guaranteed for life, as long as you pay the premiums.

The policy is also eligible to receive dividend payments, which you can use to buy additional coverage or reduce your annual premium. You can also leave them on deposit to earn interest or take them in cash. 

Universal life is similar to Participating Insurance but offers more flexibility by providing the owner  with a broad range of investment account options for tax-preferred savings growth. 

You choose a guaranteed death benefit for your beneficiaries and the payments you make above the cost of insurance can grow in a tax-preferred savings account.