Permanent Participating Life Insurance is a type of whole life insurance that offers cash surrender values and allows you to “participate” in any profits of the participating products through dividends declared on the policy. Dividends can be paid directly to you or may be credited to one of the dividend options provided under the terms of the policy. One option is like a TFSA ( Tax Free Savings Account ) which provides tax-free accumulation within the policy.
Most Companies offer two distinct participating insurance products each having two payment options – payments to age 100 or payments for the first 20 years of the coverage. Some offer the opportunity to pay for a policy in even fewer years.
Guarantees can be very important when it comes to selecting the right insurance plan for you. Participating Life Insurance features Guaranteed Life Insurance coverage and strong guaranteed cash values to provide reliable life insurance protection for you and your family or business. The added bonus is the potential to receive dividends each year. Dividends are not guaranteed. However, many companies have a track record of paying dividends on its participating plans every year since inception.*
Participating insurance is a great choice for:
- Young children, by taking advantage of their age for lower affordable rates
- Families adverse to volatile swings in investment returns in the market
- Small business with short and long term protection needs
- Individuals looking for short or long term growth of their estate protection
*Past performance does not guarantee future results
