UNIVERSAL LIFE INSURANCE QUOTE AND EXPERT TIPS

Why Choose LSM Insurance for universal life insurance?

  • One of the largest Canadian life insurance brokerages
  • We work with more life insurance companies than the majority of brokers (20+ insurers)
  • Serving Canadians for over 25 years
  • Offering Universal Life insurance solutions across Canada

 

LSM Insurance is accredited by:

 

 

 

Get a universal life insurance quote today or ask questions

Universal Life Insurance Quote for Canadians

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Sample Universal Life Insurance Quotes

Male, 44 years old, non-smoker, level COI, minimum funded, no serious health pre-conditions, universal life insurance policy for $200,000 coverage

Best quote:
$196 per month

Female, 35 years old, non-smoker, level COI, minimum funded, no serious health pre-conditions, universal life insurance policy for $500,000 coverage

Best quote:
$251 per month

Male, 51 years old, non-smoker, level COI, minimum funded, no serious health pre-conditions, univeral life insurance policy for $200,000 coverage

Best quote:
$262 per month

What is universal life insurance?

Universal life insurance is a policy that covers a policyholder as long as he/she lives. On top of being insurance, it is also a saving product because universal life insurance accumulates cash value.

It is different from whole life insurance. Universal life insurance is an “unbundled insurance.”  This means you can vary your monthly deposit, choose a level or increasing death benefit option, or tailor your investment choices within a tax sheltered account.

This type of insurance was created to correct the drawbacks of whole life insurance.

Interested in universal life insurance or have questions? Please complete the form above.

When do you Need universal life insurance?

There are numerous cases in which whole life insurance is your best option:

  1. You want to have life-long coverage that does not expire.
  2. You want flexibility in monthly contributions and the ability to choose level or increasing death benefit options.
  3. You want a combination insurance and investment product.
  4. You want to decide how your investment component is invested. This policy will let you choose a savings account, GIC, or index based investments.

Interested in universal life insurance or have questions? Please complete the form above.

How Does Term Life Insurance Compare to Other Life Insurance Products?

Here is a brief comparison of how universal life insurance compares to term life insurance and whole life insurance.

  Term Life Insurance Whole Life Insurance Universal Life Insurance
Coverage length Limited (e.g. Term 10 – coverage for 10 years) Life long Life long
Insurance coverage Yes Yes Yes
Cash accumulation No Yes Yes
Can choose amounts going into insurance and cash accumulation No No Yes

A universal life insurance policy allows you to decide if the investment portion of your monthly contribution will be invested into a savings account, GIC, or index based investments.

Interested in universal life insurance or have questions? Please complete the form above.

What are universal life insurance rates?

Universal life insurance rates vary depending on your choices – you can decide on a monthly basis how much you will contribute. Typically, universal life insurance policy rates will be higher than term life insurance’s rates since you are choosing life-long protection with the additional feature of an investment component.

Interested in universal life insurance or have questions? Please complete the form above.

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