Whole Life Insurance Made Simple
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Whole Life Insurance by Sun Life
Whole life insurance provides Canadians with reliable lifelong insurance coverage. These permanent life insurance plans often pair standard death benefits with cash value savings components that grow over time. Whole life insurance plans typically have guaranteed premiums locked in from when you purchase the plan, meaning you never have to worry about your premiums going up for life.
Key Benefits
- Lifetime Coverage
Your coverage remains active for life, never decreasing in value or ending without your say. These plans provide coverage that is always there for you and your family without the worry of renewing to keep your policy active.
- Cash Value
Whole life plans bundle life insurance security with a living benefit known as cash value. This savings component takes a portion of your premium payment and saves it, building interest over time. You can then borrow against this cash value and use the funds in any way you wish.
- Fixed Premiums
There is no need to worry about your premiums going up every 10 - 20 years. Unlike term policies, your rates are secured from the day you purchase your coverage and remain the same for as long as you have the plan.
Choice of Plans
SunSpectrum Permanent Life II Insurance
An affordable whole life insurance option offering guaranteed premiums, death benefit, and cash value accumulation. SunSpectrum Permanent Life II also offers you multiple ways to pay your premiums, so you can cover the cost of your policy in the way that works best for you.
Plan Features:
• Coverage available in single life and joint options.
• Benefit rangaes from $25,000 to $10,000,000.
• Guaranteed cash value beginning in year 3 of the policy.
• Guaranteed death benefit for life.
Four premium payment options:
• Life pay – premiums are payable for life, up to age 100.
• 20 pay – premiums are payable for 20 years. After 20 years, there are no premium payments.
• 15 pay – premiums are payable for 15 years. After 15 years, there are no premium payments.
• 10 pay – premiums are payable for 10 years. After 10 years, there are no premium payments.
Optional benefits to maximize your coverage include:
• Child term insurance benefit
• Total disability waiver benefit
• Guaranteed insurability benefit
• Accidental death benefit
• Renewal protection benefit
• Owner waiver disability benefit
• Partner protection benefit
• Business value benefit
Sun Permanent Life
Insurance
Sun Permanent Life is a simple lifelong insurance that provides Canadians with guaranteed premiums, benefits and cash value options. With multiple ways to pay for your premiums and additional benefits that can be added on to your coverage, this whole life policy can be customized to work for your needs.
Plan Features:
• Coverage available in single life and joint options.
• Benefit rangaes from $250,000 to $10,000,000.
• Guaranteed cash value beginning in year 3 of the policy.
• Guaranteed death benefit for life.
Four premium payment options:
• Life pay – premiums are payable for life, up to age 100.
• 20 pay – premiums are payable for 20 years. After 20 years, there are no premium payments.
• 15 pay – premiums are payable for 15 years. After 15 years, there are no premium payments.
• 10 pay – premiums are payable for 10 years. After 10 years, there are no premium payments.
Optional benefits to maximize your coverage include:
• Child term insurance benefit
• Total disability waiver benefit
• Guaranteed insurability benefit
• Accidental death benefit
• Renewal protection benefit
• Owner waiver disability benefit
• Partner protection benefit
• Business value benefit
