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UNIVERSAL LIFE

The most flexible form of permanent life insurance, effectively combining
permanent life insurance with the benefits of tax-advantaged investing in a
single product. This form of insurance is similar to whole life, however more
flexible in premiums, death benefits, and the investment component thus
providing you options at various stages of your life.

Premiums could be shifted over time based on your needs. Increase your premium
and take advantage of tax deferred investments provided your policy value does
not exceed an amount prescribed under the Income Tax Act. You could decide to
reduce your premiums and pay only the insurance and administration costs each
month and not use the investment component. Or, you could use the cash value
accumulated to help pay premiums over time. As long as the minimum cost of
insurance is covered, either through paid premiums or cash value, the policy
continues to be enforced. There are unlimited ways to structure this policy and
make changes throughout your life as needed.

At Everlife Financial we combine all insurance policies with tax planning. Tax
is a major component of one’s income and goes hand in hand with any type of
investments and insurance policies. We have a team of experts to help you build
a portfolio taking into consideration all components of a successful plan.

Who Should Consider Universal Life Insurance?

Individuals or families seeking financial security and wishing to accumulate additional funds (to carry out retirement plans, for example).

Young dual-income professional couples that can pay the insurance premium more quickly.

Persons with a higher-than-average income who are looking for a tax-deferred savings vehicle.

Business people, to finance a shareholders’ agreement or insure a key employee.

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