Whole Life Insurance

Provides lifetime insurance protection with guaranteed benefits, cash value accumulation and valuable estate planning opportunities.

Lifetime Protection With Guaranteed Benefits

Whole life insurance provides permanent life insurance protection, helping you protect your family, preserve your estate and create a lasting financial legacy.

Unlike term life insurance, whole life insurance is designed to remain in force throughout your lifetime, provided the required premiums are paid. Many whole life policies also accumulate cash value, providing an additional financial resource during your lifetime.

Why Choose Whole Life Insurance?

Lifetime Protection

Coverage designed to remain in force for your entire life, subject to policy conditions.

Guaranteed Death Benefit

Provides a guaranteed amount payable to your beneficiaries, subject to policy terms.

Guaranteed Premiums

Premiums are generally fixed and guaranteed, with options to pay for a limited number of years or throughout your lifetime.

Cash Value Accumulation

Many policies build guaranteed cash surrender values that can grow over time.

Tax-Advantaged Growth

Investment growth within an exempt life insurance policy generally accumulates without annual taxation.

Estate Preservation

Helps provide liquidity to cover taxes, debts and other estate obligations.

Corporate Planning Opportunities

Corporate-owned whole life insurance can support business protection, wealth accumulation and estate planning strategies.

Accessing Your Policy’s Cash Value

Many whole life insurance policies accumulate cash value that may be accessible during your lifetime, depending on the policy.

Depending on the policy, funds may be accessed through policy withdrawals, policy loans or loans from a financial institution using the policy as collateral.

Accessing cash value can have tax implications and may affect the policy’s death benefit or other values. Loans are also subject to applicable interest rates, lending requirements and repayment obligations.

Whole Life Insurance for Business Owners

Corporate-owned whole life insurance can offer additional planning opportunities for business owners and incorporated professionals.

Business Protection

Help protect the business against the loss of an owner or key employee.

Business Succession

Support business succession and estate planning strategies.

Cash Value Growth

Accumulate cash value within a permanent life insurance policy.

Financing Opportunities

Explore potential access to financing using the policy as collateral.

Tax-Efficient Wealth Transfer

Create opportunities for wealth transfer through the corporation’s Capital Dividend Account, subject to applicable Canadian tax rules.

Is Whole Life Insurance Right for You?

Whole life insurance is generally more expensive initially than shorter-term life insurance, but it provides permanent protection, premium certainty and potential cash value benefits.

The appropriate solution depends on your financial objectives, budget, estate planning needs and whether you are considering personal or corporate ownership.

Find the Right Whole Life Insurance

InsureBizz works with leading Canadian life insurance companies to compare whole life insurance options.

We can help you evaluate guaranteed benefits, premium payment periods, cash value growth potential and available policy features to find a solution that fits your financial goals.

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