Union of Canada Life Insurance

Union of Canada Life to be Liquidated

On February 2, 2012, the Ontario Superior Court of Justice ordered that Union of Canada Life cease all business operations and that its remaining assets be liquidated, having found that the insurance company had insufficient capital to ensure long-term viability. “Union of Canada Life was faced with unique challenges that caused the company to seek...
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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...
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Life Insurance for People Over 60

Life insurance for people over 60 can range in cost significantly from company to company. Insured over 60 have a choice between term coverage, which starts off lower in cost and increases as the insured gets older, and permanent life insurance, which starts off at a higher cost but never increases as the insured gets...
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50 Plus Life Insurance

Life insurance for people 50-years-old and older can range in cost greatly from company to company. Insured can choose between term policies, which start off lower in cost and increase as the insured ages, and permanent policies, where the premiums are initially higher, but do not increase as the insured ages. The following are two...
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Union of Canada’s Non-Medical Life Insurance Policy

Union of Canada offers a non-medical life insurance policy called Protection Plus. The policy is available to insured people age 45 to 75, and the amount of insurance can range from $5,000 to $25,000 of coverage. The premiums on the policy are guaranteed paid-up at the end of twenty years.
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Free Accident Insurance

No, the title of this article is not a typo. It’s true: Union of Canada is offering free accident insurance to insureds age fifteen days to six years. The base amount of accidental death coverage is $5,000, and there are a host of free accident-related fracture benefits, including fractures related to injuries of the foot, collar...
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Term 100 Life Insurance with a Twist

Union of Canada offers a term 100 life insurance policy with a unique twist. Called Select Life, this policy generally has the best pricing and is available in base amounts of $200,000 or higher. There are no policy fees on the plan, and the premiums are guaranteed never to increase. What sets it apart from...
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Union of Canada’s Progression 15 Life Insurance Policy

Union of Canada offers a very unique Progression 15 life insurance policy. It is a whole life policy that includes a single automatic dividend option that allows you to buy additional paid-up insurance. This comes into effect after the policy has been in force for 15 years. Beginning on its 15th anniversary, this policy acquires...
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Understanding Limited-pay Whole Life Insurance Plans

Unity Life of Canada joined the Foresters family in April 2008 and as of Jan 23 2012 changed their name to Foresters Life Insurance Company. Limited-pay Whole Life insurance plans provide guaranteed level premiums, lifetime protection and the policies are guaranteed paid-up after a limited number of years. UPDATE: These policies have recently been in the...
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