Cash Value Life Insurance

Posted on April 20, 2010 and updated October 25, 2018 in Insurance Types, Life Insurance Canada News, Permanent Insurance 2 min read
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Permanent life insurance is often referred to as cash value life insurance.

Permanent policies can be subdivided into the following three categories: Whole Life, Universal Life and Term 100 coverage. Whole Life and Universal Life plans generally build a cash value. Whole life policies offer more guarantees than Universal Life policies and can be further sub-divided into participating and non-participating policies.

Participating whole life policies have a guaranteed cash value and a dividend value.  The dividend within a participating whole life policy can fluctuate based on the companies’ responsibility. 

The non-participating power of Whole Life policies is fully-guaranteed and only offers a guaranteed cash value. 

Universal life plans unbundle the life insurance and cash value component out of a permanent life insurance policy. Universal life policies offer a wide variety of investment options ranging from a no-risk, fixed rate investment to  an equity based investment. 

For more details, you can visit our Permanent Life Insurance Quote Page or our  Universal Life Quote page or contact us at 1-866-899-4849.