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Universal Life Insurance

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Who We Are
Universal Life Insurance
WHEN THERE IS IF IN LIFE

Canada’s Leading Insurance Marketplace

Protect Your Family, Invest For Your Future,Universal life insurance provides permanent protection, along with the option to invest in a tax sheltered environment by over-funding the policy. Universal life insurance is an alternative to explore if you’re searching for a plan that will give you flexible lifetime coverage. With an investment savings component and has a low cost similar to term life insurance.This coverage is well suited for those who are concerned about estate preservation and estate planning.It’s guaranteed, lifelong protection that lets you invest and build your wealth. And it’s one of the most flexible and affordable products available that covers you for life.Universal life insurance gives you access to money you’ve earned in your policy. You can access the money as long as there’s enough remaining to cover your monthly insurance cost, as well as any cancellation charges, policy loans and market value adjustments.

How Does Universal Life Insurance Work,

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UNIVERSAL LIFE INSURANCE

Benefits of Universal Life Insurance

A flexible solution that offers the security of lifetime coverage and tax-effective investing to help you protect your assets and your loved ones for the long-term.

Lifetime Coverage

With universal life insurance, you have permanent coverage for life—your coverage does not end after a certain period.

Tax-Advantaged Investing

A portion of your premium purchases your insurance, while the rest earns interest that is not taxable while it remains in your policy.

Access to Funds

Throughout your lifetime, you can access the funds in your policy to supplement your income in retirement or during a time of illness.

Estate Planning

The unique features of universal life insurance make it an ideal way to protect your assets and pass them on to your beneficiaries.

Benefits of Universal Life Insurance
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POLICYDIRECT?

We Care About Your Life’s Important Things. Expert Advice with Superior, Honest Solutions – Reliable, Essential and Yearlong Service. At PolicyDirect, we’ve made the process of buying insurance as easy and painless as possible.

HIGHLIGHTS OF UNIVERSAL LIFE INSURANCE

Universal Life Insurance Plan Details

Access Your Money When You Need It​

Universal life insurance gives you access to money you’ve earned in your policy.You can access the money as long as there’s enough remaining to cover your monthly insurance cost, as well as any cancellation charges, policy loans and market value adjustments.

Term Life Insurance Plan Details

Access Your Money When You Need It

  • The Right Choice If You
  • Withdrawals
  • Policy loans
  • Cancelling your policy
  • How Much Does It Cost?
UNIVERSAL LIFE INSURANCE PLAN DETAILS

The Right Choice If You

  • Are a Canadian citizen or a permanent resident/landed immigrant who have been in Canada over 12 months.
  • Are from age 0 to age 85 - Want permanent life insurance coverage.
  • Are financially secure and want to grow your wealth.
  • Contribute the maximum to your RSP.
  • Are nearing retirement and want to preserve your estate.
UNIVERSAL LIFE INSURANCE PLAN DETAILS

Withdrawals

  • You can make a partial withdrawal at any time.
  • Withdrawals decrease your policy’s cash value as well as your beneficiary’s payment.
  • The minimum withdrawal is $500.
  • The maximum depends on your policy. You pay income tax on any withdrawals you make from your policy.
UNIVERSAL LIFE INSURANCE PLAN DETAILS

Policy loans

  • Borrow with interest from your policy’s cash value – as long as there’s enough money to cover the cost of cancelling your insurance – and eventually pay it back.
  • Your cash value continues to grow as if you hadn’t taken out the money.
  • The minimum loan is $500 and may be taxable. You can repay your loan at any time.
  • The loan will be subject to a loan interest rate set by Canada Life on each policy anniversary.
UNIVERSAL LIFE INSURANCE PLAN DETAILS

Cancelling your policy

  • You’ll receive the balance in your account, which is called the cash surrender value.
  • During the first nine years, there’s a penalty for cancelling your policy, called a surrender charge.
  • Some policies have no surrender charge.
  • You may pay income tax on what you receive, in the year you cancel your policy.
UNIVERSAL LIFE INSURANCE PLAN DETAILS

How Much Does It Cost?

Participating life insurance can be more expensive than term and universal life insurance because of the policy’s guarantees.There are several variables that determine the cost of your policy. Here are a few of the main factors:

  • Age - Generally, insurance is less expensive when you’re younger.
  • Health - Family history, chronic diseases and lifestyle can increase costs.
  • Gender - Women live longer than men on average, so insurance may cost less.
  • Occupation - If you have a dangerous job, your insurance costs can be higher.

Protected Against Unexpected

Protection and security for you and your family.

Right Plan @ Right Rate

We will get you right coverage. Pay only for what you need.

When There Is If In Life

You can count on us, wherever & whenever you roam .

Customized Insurance Offering By Policydirect

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A simple promise : We'll be there when you need us most. When there is if in Life, you can count on PolicyDirect.

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We can assist you in reaching your financial goals with personalized financial pathway that meets your unique needs & goals.

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HOW POLICYDIRECT WORKS?

At POLICYDIRECT, process of buying insurance as easy and painless as possible. in just a few minutes you could be on the way to obtaining right coverage, protecting your loved ones, and having the peace of mind knowing we haveprotected you and your family.

STEP 1 - QUICK QUOTE

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STEP 2 - QUICK GUIDE

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