The Benefits of Whole Life Insurance

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The Benefits of Whole Life Insurance
Whole Life Insurance is exactly what it sounds
like, a Permanent Insurance policy for your
entire life. You and your beneficiaries will be
in a permanent financial safety net till the day
you pass away, or the term ends. It comes with a
fixed premium, which means you wont have to
worry about variable rates now and then. Also,
when it isnt likely that you would opt to renew
for another term. You see, for this type of plan,
the term ends after 90 or 100 years. However,
these shouldnt be the only reason why you should
opt for whole life insurance. Thats why, to give
you a clear understanding of what are the
additional benefits that come with this policy,
we have made this document. Have a look.
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416-543-9000
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The Cash Value

• Similar to permanent life insurance policies,
  whole life insurance also comes with a cash
  component which only accumulates over time. It is
  guaranteed to grow at a particular rate and can
  be used as an investment vehicle. Additionally,
  this component is also tax-sheltered throughout
  its lifetime.
• You can withdraw the cash component at any time
  and can use it in
• Paying premiums
• Purchase additional coverage
• Use it for emergencies
• Provide a tax-free loan
• However, you will have to keep in mind that it
  will deduct the loan amount from the death
  benefits if you borrow against the cash value and
  then pass away.

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416-543-9000
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Lets talk dividends
If youve opted for a dividend-paying whole life
insurance policy, there is a chance of a dividend
cash-out in case the insurer performs better than
expected. As a policyholder, you will be able to
participate in the companys profits after they
have paid all death benefits and other business
expenses.
No medical exams
Generally, medical exams are not a component of
life insurance policies, but they are always in
the underwriting. However, choosing a guaranteed
acceptance whole life insurance means you will
have the option to skip detailed health questions
and the medical exam.
Complete life coverage
To reiterate, with whole life insurance, you get
a policy for the entirety of your life. You can
add your family member or any dear one as your
beneficiary, and as long as you can pay the
premium, you will reap the policys benefits.
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416-543-9000
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These are to name a few however, if youre still
not convinced about whether you should apply for
this policy, contact Harpreet Puri. Shes an
experienced insurance broker and can help you
with your queries.
canadianlic.com
416-543-9000
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Contact Us
Office - 416-543-9000 E-mail - info_at_CanadianLIC.co
m Website - https//www.canadianlic.com/ To
know more about Whole Life Insurance, Visit
https//www.canadianlic.com/services/whole-life-in
surance