Whole Life Insurance
Protect your loved ones while still being able to invest in their future. Rest easy knowing that your coverage will last a lifetime and never be changed on you.
Whole Life Insurance provides you and your loved ones with lifelong protection, tax free investing, and a hassle-free death benefit. Below are just some of the many benefits which Whole Life Insurance can provide.
Access your Cash Value at any age, at any time, for any reason on a Tax-Free Basis.
This is a huge benefit when compared to other investment accounts such as RSPs or LIRAs which pay money out on a fully taxable basis. With Whole Life Insurance, you will be able to withdraw monies at any point without incurring any taxes or penalties.
Insurance for Life.
Once your Whole Life Policy has been put in place, you will be guaranteed to have life insurance for the rest of your life. Unlike other forms of insurance, you will never be at risk of losing your insurance coverage or being required to pay higher insurance premiums.
Your invested monies are Principal Protected.
Your cash value is never subject to market losses, as it is with mutual funds and other investments.
Investment Returns are Tax Sheltered.
So long as the insurance policy remains in force any investment returns earned will be on a completely tax sheltered basis. Better still; any invested monies will not impact your contribution limit as it relates to other tax savings vehicles such as RSPs and TFSAs.
Whole Life Insurance policies certainly provide solid benefits while you are living but at the end of the day, they are also insurance policies which will provide your beneficiaries with a guaranteed death benefit on a fully tax-free basis.
* This service is currently provided by third party professionals
If you are looking for holistic advice which covers your entire financial situation, we would be keen to discuss how we could work with you and your family. An Optimize Advisor* is always ready to take that step with you and design a financial solution specific to your particular goals and objectives.
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