Multiple Options with Co-operators’ Universal Life Plan

The Co-operators was founded in 1945 when a group of Saskatchewan wheat farmers decided to pool their collective resources to start an insurance co-operative. The company has made great strides over the past 60 years, and has a significant presence in the Canadian property and casualty market.

All Co-operators insurance products are sold through a captive sales force (i.e., their sales team is limited to selling Co-operators life insurance products). Insurance products sold by captive agents tend to have higher costs because unlike an independent broker, they are unable to shop the market for the best rate; the insurance provider knows this, and prices their plans accordingly. Another reason for the higher premiums is that companies with a captive sales force tends to have more management layers and higher distribution costs, which are passed on to the consumer.

Co-operators’ universal life plan has multiple investment options, flexible premiums and level or increasing death benefits. One major flaw with their universal life plan is that the company does not offer a level cost of insurance option (COI). A level COI structure ensures the risk charge remains at a guaranteed level to age 100. The majority of Canada’s life insurance providers offer a level COI structure; this is a crucial option for applicants that want cost certainty.

Call us: 1-866-899-4849

Name *
Phone *
Email
Your Date Of Birth
Amount of Coverage
Type
Comment
* Please Confirm Your Contact Details Are Correct

What Clients Say About LSM

life insurance testimonialsThank you Andrew for sharing your time to make sure that what I was...1 of 84Elizabeth ZuestRead more

One Comment

  1. [...] life coverage with a twist. One of the best plans around is Canada Life’s universal life plan. Co-operators’ universal life plan has multiple investment options, flexible premiums and level or increasing [...]

Skip to
second column

Leave a Reply

 

Head Office: 2900 John Street Suite #302 Markham, L3R 5G3
Office 1-866-899-4849, 905.248.4849 Fax 905.300.4848


© LSM Insurance Services Ltd. 1998-2017




Translate »