Whole Life Insurance for Seniors


Whole life insurance comes in two types of plan varieties.

Firstly, there is participating Whole Life Insurance, which offers guaranteed premiums, lifetime protections, and both a guaranteed and non-guaranteed cash value.

The non-guaranteed cash value comes in the form of a dividend and is related to the insurance company’s profitability as well as long-term interest rates. Non-participating whole life insurance policies offer fixed premiums, lifetime protection, and guaranteed values.

Non-Participating Insurance policies are generally fully guaranteed and do not produce a policy dividend.

In general, whole life insurance rates can vary significantly from one carrier to another. The following is pricing for $100,000 of a Non-Participating, 20-Pay Whole Life policy for a 65-year-old, male non-smoker. The policy is fully paid-up after 20 years. (Rates are accurate as of March 2012.)

1. Foresters Life: $323.19 a month

2. Western Life: $367 56 a month

3. AXA Insurance: $370 44 a month

4. Desjardins Insurance: $373 68 a month

5. Wawanesa Life Insurance Company: $376 29 a month

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

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