Unity Life of Canada policies

Pluses:

1. They have a wide variety of term policie. They are one of the few companies in Canada offering a five-year term.
2. They have participating Whole Life policies.

Minuses:

1. Very limited disability insurance options.
2. Universal Life level cost policies are not competitively priced at certain age brackets.

Back to Unity Life of Canada

Unity Life of Canada News

• Unity Life of Canada: Life Insurance Policies

  11/15/2011

  Unity Life offers a spate of term insurance policies.  Photo by Zach Suggs Unity Life of Canada offers a full range of term life policies, including a 5-year term, a 10-year term, a 15-year term, a 20-year term, a 25-year term, and a 30-year term. They also offer non-participating whole life insurance and Term 100 [...]

• Guaranteed 15-Pay Whole Life Coverage

  07/31/2011

  You're in it for the long haul with 15-Pay Whole Life. Photo by Philippe Tarbouriech Guaranteed 15 pay whole life coverage provides lifetime protection and a policy that is paid up at the end of 15 years with the policy in-force. Many insurance companies in Canada have either raised their rates or removed their limited-pay [...]

• Term 20 Life Insurance for Seniors

  04/30/2011

  Term insurance is an effective way to manage debt. Photo by Luciano Meirelles Vov e Vov An increasing number of Canadians are struggling under higher debt loads. In fact, a recent article in The Globe and Mail revealed that 44% of Canadians are carrying debt into their retirement. This debt comes in the form of [...]

• Withdrawal of Unity Life’s Mortgage Advantage Product

  01/07/2011

    Please be advised that effective February 1, 2011, Unity Life’s Mortgage Advantage product will be withdrawn from the Unity Life product portfolio. All Mortgage Advantage applications, including conversions, MUST be received at Unity Life's Policy Administration office, no later than 3:00 pm, January 28, 2011.

• Bank of Montreal’s Mortgage Life Insurance Policy

  12/12/2010

  Mortgage Life Insurance is available from Bank of Montreal. Bank of Montreal Mortgage Life Insurance is available directly through the insured's lender. The policies cover the outstanding mortgage balance at the time of death, up to a maximum of $600,000. A maximum of two people can be covered under the policy and the policies are [...]

• Term 15 Life Insurance for Seniors

  12/12/2010

  Many companies offer Term Insurance for seniors. Photo by Edwin Kelly Tofslie Term 15 Life Insurance policies provide coverage, which is level for the first 15 policy years. Most plans are guaranteed convertible and renewable. However, seniors may have limitations on those conversion options, as most Term life policies only offer a conversion plan up [...]

• Non-Medical Term Life Insurance Options In Canada

  12/10/2010

  These plans can be had by those 60 plus. Photo by mrhayata Canadian consumers looking for Non-medical Term life insurance in Canada should consider the following: As a rule of thumb, it's best to remember that the younger the insured, the more likely Term Life insurance is going to be available without medical tests. For [...]

• Women’s vs. Men’s Term Life Insurance in Canada

  11/29/2010

  You won't believe how much money you'll save as a woman. Photo by Victor Bezrukov Term life insurance provides affordable insurance premiums for a stated term, such as 10 years, 15 years, 20 years or 30 years. The longer the term, the higher the initial premium. Most term policies are guaranteed renewable after the initial [...]

• 25-Year Term Insurance in Canada: Who Has the Best Rates

  10/19/2010

  Ever wonder where to get the best 25-year Term plans? Photo  by Ben W 25-year term policies provide level premiums for the first 25 policy years. Most policies are renewable and convertible, meaning the coverage can be renewed at the end of the 25 years. One caveat with these plans is, the renewal rate is [...]

• TD Insurance’s Business Credit Life Insurance

  10/17/2010

  A look at TD's Business Credit Life Insurance. Photo by Lee Chisholm TD Insurance offers business credit life insurance to authorize borrowers who are Canadian residents are between age 18 to 69. The policy is available directly through TD Insurance's call center with the following features: 1) Applicants can get coverage of up to $500,000 [...]

• CUMIS Term 10 Life Insurance Plan

  10/17/2010

  CUMIS Term 10 rates don't stack up against their competitors Photo by Andy Rennie The CUMIS Group Limited partners with credit unions in offering its insurance and financial products. They are a leading provider of insurance related products and services to the Canadian credit union system. They serve approximately 485 credit unions with a total [...]

• Unity Life Term Life Insurance Enhancement

  10/16/2010

    Effective on October 1, 2010, Unity Life of Canada (a Foresters' Company) announced four changes to its Term 10 and Term 20 product line up. 1. They are re-pricing the rate on their Term 10 and Term 20 plans effective October 1 in certain key markets. 2. They are offering higher face amounts on [...]

• Term 100 vs. Level Cost Insurance

  10/01/2010

  Insurance plans with guaranteed cash value you can take to the bank. Photo by Paul. Term 100 insurance provides very straightforward coverage. It provides fixed premiums, guaranteed to never increase, lifetime protection and, in most instances,  the policy does build at cash value. Universal Life insurance also offers lifetime protection, but offers a variety of [...]

• Term 15 Life Insurance

  05/30/2010

  Term 15 is Renewable to age 75 or 80. Photo by Ben W Term 15 life insurance offers a hybrid type policy for those, who are wavering between Term 10 plans and Term 20 policies. The premiums are fixed for 15 years and most plans are renewable to age 75 or 80. Additionally, most policies [...]

• A.M. Best Ratings for 2009-2010

  04/23/2010

  Most credit scores of insurance companies are stable Photo by Balazs Gal A.M. Best is a credit rating company for the insurance and banking sectors. Consumers use it to assess the financial strength and credit worthiness of their lending institutions. The following are the ratings for March 2010 and the fourth quarter of 2009: AM [...]

• Life Insurance Policy Fees

  04/02/2010

  Don't let policy fees nickel and dime you by Garry Knight Life insurance policy fees are a built-in fee, which covers the administration of the policy. The fee is hidden within the premium, but can be found with the policy document. The following is a summary of term 10 policy fees charged by Canadian insures. [...]

• Canada Protection Plan: Simplified Life vs. Deferred Life

  01/28/2010

  Find the plan that's right for you. Photo by Ben W. Canada Protection Plan is a Canadian company, which is a leading provider of non-medical life insurance solutions, underwritten by Unity Life. They offer simplified life plans and deferred life policies. The difference between these policies is as below; The Simplified life policy -Plans provide [...]

• Life Insurance for Smokers vs. Non-Smokers

  01/07/2010

  Smoker by Valentin Ottone Life insurance companies generally classify an applicant as a smoker if he or she has used and form of tobacco during the last 12 months. The difference in premium can be substantial. In many instances, a smoker will pay double the cost for equivalent coverage than a non-smoker would. Below is [...]

• Term Life: Unity Life Updates Risk Structure

  12/13/2009

  Unity Life has updated their Preferred Term risk structure effective immediately! They've gone from six risk classes down to four, making Class D their new Standard rate. Also, Risk Classes E and F are now terminated, since these are borderline rates and only need to be applied at issue on a case by case basis. [...]

• Understanding Limited-pay Whole Life Insurance Plans

  07/02/2009

  It's important to understand limited pay before you sign on. Limited-pay Whole Life insurance plans provide guaranteed level premiums, lifetime protection and the policies are guaranteed paid-up after a limited number of years. UPDATE: These policies have recently been in the Canadian industry spotlight in Canada. Historically low interest rates have reduced profitability on these plans [...]

• A Closer Look: CPP Term Plans

  05/08/2009

  Since June 2006, Canadian Protection Plan [CPP] has offered various term life insurance plans underwritten by Unity Life. The flagship plans in CPP's lineup are Deferred Term, Simplified Term and Simplified Term Plus.They are all available without a medical and can be purchased online or through a broker. The flagship plans in CPP's lineup are [...]

• Unity Life’s Plus Term: a Hidden Gem

  08/11/2008

  Unity Life’s Plus Term is a non participating whole life policy available in Canada to applicants aged 18 to 45. The plan provides lifetime protection and is guaranteed paid up at age 65. The policy has a guaranteed cash value available at age 65 and the cash value accumulates each year thereafter. Below is an [...]

• A Strong Term Lineup

  06/09/2008

    Unity Life has been selling insurance in Canada for over 100 years, and although they advertise less than some of their competitors they have one of the strongest term insurance lineups in the Canadian marketplace. They are one of the only companies to offer 5, 10, 15, 20, 25 and 30-year terms. And unlike [...]

• Unity Life adds universal life insurance

  04/22/2008

  Unity Life of Canada, a Foresters Company, expands its product portfolio with the addition of Forester Passport Universal Life. This universal life product complements Unity Life's competitive term and solid permanent products and is available to Canadians nationwide through its extensive brokerage distribution network. "Forester Passport Universal Life is designed specifically to meet the needs [...]

• Demutualization completed

  04/04/2008

  On April 3, Foresters and Unity Life of Canada announced completion of the agreement under which Unity Life becomes a wholly owned subsidiary of Foresters and will represent Foresters in the Canadian market as "Unity Life of Canada, a Foresters Company." The announcement follows the April 2nd completion of the sponsored demutualization of Unity Life, [...]

• Demutualization at Unity Life – why is it great news?

  03/30/2008

  As we have reported earlier, policyholders of Unity Life of Canada have voted to sell the insurer in April to the "The Independent Order of Foresters", a fraternal benefit society. Let me add some background and comments to clarify the situation at Unity Life. Demutualization is the process of converting from a mutual company, owned [...]

• Unity Life policyholders accept sale to Foresters

  03/04/2008

  Policyholders of Unity Life of Canada have voted to sell the insurer in April to the "The Independent Order of Foresters", a fraternal benefit society, The Toronto Star reported. Some 15,000 holders of the Mississauga company's 192,000 active insurance policies will get an average of $3,300 in cash payments. According to The Star article, more [...]