Unity Life’s Plus Term: a Hidden Gem

Posted on August 11, 2008 and updated January 23, 2019 in Canadian Life Insurance Companies, Life Insurance Canada News, Unity Life of Canada 3 min read

a-man-reads-a-documentUnity Life of Canada joined the Foresters family in April 2008 and as of Jan 23 2012 changed their name to Foresters Life Insurance Company.

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 example of $250,000 coverage for a 41 year-old Female Non Smoker. Unity Life stacks up well against its Whole Life Paid Up at 65 competitors, especially in the cash value department.


Monthly Premium

Contribution to age 65

Cash Value at 65





Unity Life




Industrial Alliance





• All three policies have a paid up death benefit at age 65.

The Manulife applicant saves about $4,900 over the 24 years but her cash value would be over $65,000 less at age 65. The Industrial Alliance plan has a higher premium and $62,650 less cash value at 65.

Unity Life’s Plus Term plan also has a unique Extended Insurance feature. In the event the policy owner is unable to pay premiums and the policy has been in force for 2 years, the insurance amount, less the outstanding loan and any interest due, will remain in force for one year from the date premiums was due. During this period the policy can be put back in force by paying the premium plus any interest. Policyholders can use this feature up to 3 times.

Additionally now that Unity Life has joined forces with The Foresters all policyholders are now Forester members and may be eligible for valuable complimentary member benefits such as postsecondary scholarships or a grant for a covered illness. These benefits may provide extra protection to help ensure new applicants and their families get the support they need through key life events.


I request a quote for consideration of a 20 year old male Unity life’s Plus for $500,000. Non smoker, good health.


Inquiring about Life insurance for both my Husband and I. He was born 1960 and I 1963. We are not making to much of an income at the time being. He is a smoker I am not. I was looking at health insurance if one of us gets sick and dies. Like cancer or heart attack etc. Could you e-mail me some quotes according to that information? Natalie Hayward