Life Insurance Guaranteed Whole Life Policies

Guaranteed whole life policies have been under pressure in recent months, as many life insurance companies in Canada have responded to historically low interest rates by either raising the rates on the guaranteed whole life insurance policies or removing these policies from their product lineup.

Manulife recently removed their Guaranteed Limited-Pay Whole Life Plan from their product portfolio, and Empire Life recently increased the rates on their 20-Pay Whole Life Insurance Policy.

The following is an example of $250,000 of guaranteed whole life coverage for a 30-year-old, male non-smoker at standard rates:

Guaranteed Whole Life 20-Pay Coverage

Western Life is $130.29 a month, Wawanessa Life is $148.95 a month, and Empire Life is $150.08 a month.

Guaranteed whole life 15-Pay Coverage

Union of Canada is $189.83 a month, Wawanessa Life is $193.95 a month, and Assumption Life is $211.73 a month.

Guaranteed Whole Life 10-Pay Coverage.

Western Life is 197.80 a month, Desjardins Insurance is 221.40 a month, and Union of Canada is 261.91 a month.

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

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