Whole Life Insurance Policies in Canada: A Comparative Analysis

Whole Life insurance policies can be broken down into two types:

Non-participating Fully guaranteed contracts and the plans do not participate in the companies profits.

Participating Whole Life Policies Offer policy guarantees, but in addition, allow the applicant to participate in the profits of the insurance company.

Whole Life policies They have gained a resurgence in popularity in Canada over recent years, as consumers are becoming more concerned with market volatility.

The following is an analysis of the top or the analysis of 4 of the leading Whole Life insurance carriers in participating insurance carriers in Canada. These premiums and cash values have changed since the time the article was written please contact a licensed broker to get today’s rates.

50-year-old male, non-smoker @ $500.00/month with a paid-up additional dividend option.

 Initial Coverage
Death Benefits/age75
Cash Value/age75
Canada Life Wealth Achiever $153,990.00 $355,847.00 $202,658.00
Assumption Life Par Plus $170,208.00 $346,041.00 $155,138.00
Manulife Performax $149,860.00 $457,744.00 $285,036.00
Empire Life Optimax $175,800.00 $373,937.00 $213,968.00

Each of the above plans assumes its respective insurance company’s current dividend rate. These dividend rates are not guaranteed and fluctuate.

For more information on Whole Life participating policies in Canada, please contact us at 1-866-899-4849, or visit our Whole Life Insurance Instant Quote Page.

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  • LSM Insurance
    April 1, 2012 at 4:30 pm

    Thanks for the note. The rates will depend on your health and the type oif plan. We will send you a separate email now.

  • rose
    March 31, 2012 at 4:23 pm

    me and my husband is interested in canada life insurance. we’re both 44 yrs old and non smokers. pls send me a qoute for monthly payment. we’re looking at 150,000 coverege. thanks

  • LSM Insurance
    February 23, 2012 at 6:04 pm

    Thanks for the note. The premiums will depend on the type of Whole Life plan and if you are non smokers.

    Also keep in mind most insurance companies use age nearest pricing. We will be in touch by email shortly.

  • Napisum
    February 23, 2012 at 1:57 pm

    We would like to know what the premiums per month, and that would be for two people, my wife is 44 and I’m 54 years old, we were thinking about getting life insurance for awhile at around $250,000, please let me know I’m looking around for estimates right now and information as to what insurance policies have to offer, thanks!

  • LSM Insurance
    January 31, 2012 at 11:11 am

    Thanks for the note. The premiums will depend on the type of Whole Life plan and the amount of coverage. We will send you an email now. Regards, LSM Insurance

  • Devon
    January 30, 2012 at 8:48 pm

    I am interested in Life Insurance coverage for myself and my 14 year old daughter; we are both non-smokers.