Permanent Life Insurance

Here at Life Insurance Pro Canada, we believe that no one should have to worry about how his or her loved ones will cope after passing. That is why we offer permanent life insurance, which provides cover for the rest of your life. Permanent Life insurance gets overlooked once the mortgage gets paid, or the kids graduate college. In reality, many people will need continuous coverage to be comfortable in the knowledge that their family can maintain their lifestyle, even after they pass.

Permanent Life insurance offers a cash surrender value. This cash value is built up, accumulated over time, from paying in premiums. Once a solid foundation is secured, this cash value might one day be taken out as a loan, as your son or daughter’s deposit for their first home for instance. Loans from your policy do have to be repaid (or beneficiaries receive a lesser death benefit), but fortunately with much less interest than other financial institutions.

A Permanent Life insurance policy also comes with the added benefit of being tax-free: generally, any cash withdrawn up to the value of the premiums does not count as taxable income. Being tax-sheltered is also an excellent advantage when your family receives the death benefit since the full amount can be used to pay off any capital gains tax from assets in your Will.

Much like the other term life insurance policies we offer, your premiums will always stay level. As long as the premiums get paid, we can guarantee that your beneficiaries will be eternally grateful for the lasting legacy you leave.

At Life Insurance Pro Canada, we know that family is the most important. With our leading Permanent Life insurance policies, you can continue to provide for your family, even when you are not there. Click to get a quote or give us a call to talk to an adviser about the type of coverage that would be right for you.