Whole Life Insurance for Seniors

listening old man by Manuel Mc
Whole life is
available for seniors.
Photo by Manuel Mc

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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life insurance testimonialsLisa Harbinson wanted a new life insurance policy for her mother Joyce. She thought...1 of 85Lisa HarbinsonRead more

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Head Office: 2900 John Street Suite #302 Markham, L3R 5G3
Office 1-866-899-4849, 905.248.4849 Fax 905.300.4848

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