Meets a need to provide coverage for a set period of time, for example: mortgage, automobile, period during which children are dependent
Can be offered based on terms, i.e. T-1, T-5, T-10, T-20, T-65 and T-75
Most of the time, this product is renewable and transferable
Cost and coverage fixed for life
Premiums are often waived at a specific point in time
Very rigid product structure
Has a cash value component or pays dividends, depending on the plan
Universal InsuranceProduct offered based on a TRA (T-1) or uniform (T-100) timeframe
Offers greater flexibility given the premium paid under the plan
Allows savings to grow tax free
Can be a very efficient for financial planning (retirement or estate planning)
Values available to the insured during their lifetime
For a Child
Most insurance products allow you to add a life insurance coverage amount for a child. This guarantees the child’s future insurability, at a low cost.
Your client can buy a life insurance policy with waived premiums when his children are very young. Once the number of years set out in the contract has passed, no further premiums are required and the child remains insured for the life of the contract.
Do not hesitate to write us by filling out the contact form. It will be our pleasure to assist you in all the steps.