Whole Life:

News from 2019

Explained by an Expert: What is a cash surrender value?

 I’m going to talk a little bit now about cash surrender value and how it works in terms of a life insurance policy. Generally, cash surrender values apply to permanent policies, and permanent policies can be whole life coverage, can be Term-100, or can be universal life. Most Term-100 policies don’t have a cash surrender value, but whole life policies and most universal life policies do. A whole life policy can either be participating or non-participating. Participating policies have a ...
Continue reading
how-to-use-whole-life-insurance-for-retirement

Explained by an Expert: How to Use Whole Life Insurance for Retirement

 I’m going to talk a little bit today about a question I got on how you can use a whole life insurance policy to help with your retirement. A whole life policy generally allows you to build a cash value in addition to the insurance. This cash value is growing in a tax shelter basis, so some people will use that cash value to supplement their retirement income. That person will want to make sure they are taking advantage of things like RRSPs and tax-free savings accounts, if it fits ...
Continue reading