Compare Whole Life Insurance Quotes?

As you review and compare various whole life insurance quotes, there is real value to speak to an independent life licensed representative.

Why Bother With Whole Life Insurance Quotes?

Life insurance companies in Canada are trying to differentiate themselves from one another and in trying to achieve this goal they are adding various benefits or extras to their whole life policies. In addition, some companies have some hybrid forms of whole life insurance that includes a combination of whole life and yearly renewable term. This can provide the consumer with a whole life product that is much less expensive but will still last for their entire life.

Contact Us For a FREE Consultation

We're waiting to help you! Click here to ask any question. We'll contact you with your answer, or to make an appointment, free of charge.

As with all insurance policies, age, sex and the use of tobacco are the main factors when determining premiums. The other factor is the amount of the death benefit. The more money you want to leave your beneficiaries, the more the policy will cost.

Once you have determined these factors, you can customize your policy to meet your personal needs.

Getting the Best Value for Your Premiums

The greatest advantages of these whole life insurance quotes and therefore a whole life insurance policy are the guarantees: First of all, the face value or the death benefit is guaranteed. Secondly, the premiums are guaranteed for as long as the policyholder maintains the contract. Thirdly, the cash value that builds up in the policy over time is also guaranteed in other words, you will know exactly how much cash value is available in the policy in any given year that the policy has been maintained. Finally, whole life contracts contain provisions for loan guarantees. This means that policyholders may borrow against the cash value at any time that they like based upon the current interest rates charged by the insurance company. This is an excellent method by which access the cash value without paying any income tax.

Review Whole Life Insurance Quotes and consider the other advantages of Whole Life Insurance including:

  • The policy never expires. As long as premiums are paid, the policy remains in effect, without any renewals. Also, premiums can be prepaid in 10, 15 or 20 years or to Age 65 so that no more premiums are due but the policy will last until death of the insured or age 100. For those lucky enough to live to 100, the policy will simply pay out.
  • A whole life insurance policy can be used as a means of wealth management and estate planning. As an example, suppose a business owner wishes to pass on his business to his son. However, his son cannot afford to purchase the business. The business takes out a loan in order to pay off father, and also purchases a whole life policy that will pay off the loan when the father dies, thus leaving the son with the business no debt.
  • Participating whole life policies also include the option for the company to pay a dividend to the participating policyholders. That dividend is determined annually based upon excess money that the insurance company has above and beyond its costs. Most insurance companies have consistently paid the dividend to participating policyholders for over 100 years with very few exceptions. Although this is not a guaranteed option it can be a very valuable option to build up additional cash value or additional insurance inside the policy.
  • There are several options available to suit each person's individual needs. Different companies offer different options - another reason that an independent insurance advisor can help you sort through the many different products that are offered.

Whole Life Insurance Quotes

A whole life insurance policy is almost like money in the bank. You can use it as collateral against a loan, or make cash withdrawals. However, if you do not replace any money you take out or pay off the loans, that money will be deducted from the final payout of the benefits.

Tips for Understanding Whole Life Insurance Quotes

The best tip for buying whole life insurance is buy as young as possible. When you're 25, and feel as if you're going to live forever, a $125 per month policy might seem quite steep. But, by the time you reach the age of forty-five, with career advancements and salary increases, that same $125 will seem like pennies. Your rate is locked in for as long as you pay your premiums.

You can use your policy as collateral to secure a mortgage, or to buy a new car. You can borrow from your policy to help your children pay for college. You cannot do any of that with term life insurance. The premiums you pay to a term life insurance policy is only paid upon your death. Before that, it holds no value whatsoever.

Contact Us For a FREE Consultation

We're waiting to help you! Click here to ask any question. We'll contact you with your answer, or to make an appointment, free of charge.

There are many good, reputable Canadian insurance companies. Get whole life insurance quotes from several different ones before you decide which is best for you.

We're happy to provide detailed information on different whole life insurance quotes. Click any links below to explore further.

More About This Topic

Define Whole Life Insurance
Advantages of Whole Life Insurance
Whole Life Insurance Canada
Whole Life Insurance Quotes Canada
Whole Life Insurance Tips



Return from Whole Life Insurance Quotes to the Canada Life Insurance Companies home page

More About Canada Life Insurance Companies

Click the images or links below to find out more about the life insurance you're interested in, or to request a quote.

Best Term Life Insurances

Best Term Life Insurance Quotes

Canada Life Insurance

Canada Life Insurance

Disability Insurance

Disability Insurance

Estate Planning Checklist

Estate Planning Checklist

Key Man Insurance

Key Man Insurance

Universal Life Insurance Canada

Universal Life Insurance Canada

Whole Life Insurance Quotes

Whole Life Insurance Quotes