The Ontario Superior Court of Justice has ordered the winding-up of Union of Canada Life, finding that the company had insufficient capital to ensure long-term viability. The court has named Grant Thornton Limited as liquidator. More details can be obtained through Grant Thornton Union of Canada Update.

Union of Canada Life Insurance, founded in 1863, is one of the oldest insurance companies in Canada. They offer life and accident insurance, mortgage and investment products; presently operating in the province of Ontario, Québec, New Brunswick and Prince-Edward Island.

For individual life insurance, there are several options to choose from; participating or non-participating policies are available. Their accident insurance provide complete coverage in case of an accident at very competitive rates, from 15 days up to 100 years.

For those in the market for a mortgage, Union of Canada may have the right solution with their various mortgage products—short or long-term, variable amortization periods and flexible payment options.

For investors, Union of Canada offers Uniflex and Uniflex Plus savings vehicles for one to five-year periods, with simple, compound or daily interest rates. Their retirement savings products are available to individuals and groups.

Union of Canada Life Insurance Policies

Plus:

1. Wide range of non participating whole life policies

Minus:

1. Limited Term insurance line-up

LSM Union Policy Reviews