Whole Life Insurance Vancouver, BC

Whole life insurance is permanent life insurance that offers both guarantees and cash values. Unlike universal life insurance, with whole life insurance the insurance company chooses the investments. This makes if safer and provides steady returns. Historically the investment returns have been about 6%+ with very little standard deviation.

A popular choice for whole life insurance is called 20 pay. This means that you only have to pay the premiums for 20 years at which point the policy becomes paid up and premiums are no longer required. Once the policy is paid up, the cash values and death benefit will continue to compound tax free.

Cash values within whole life insurance policies can be accessed without cancelling the policy. This is done via policy loan. Then upon death the loan is paid off and the balance goes to the insured’s beneficiaries.

Whole life insurance comes in many shapes and sizes and can accrue substantial guaranteed cash values over time. Many people invest in a whole life policy because contrary to the markets, the dividends are very stable. Like RRSPs and TFSAs, investing in a whole life policy also offers major tax advantages. Whole life insurance is very popular at the moment and many people are using it to supplement their investment portfolio.

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Insurance Solutions we offer include: Life Insurance | Term Life Insurance | Creditor (Mortgage) Insurance | Life Insurance for New Immigrants | Non-medical Life Insurance | Manulife Vitality | Permanent Life Insurance Term 100 - Permanent Life Insurance | Universal Life Insurance | Whole Life Insurance | Medical Underwriting | Living Benefits Insurance | Critical Illness Insurance | Disability Insurance | Life Insurance For Business Owners | Corporately Owned Life Insurance | Saving money on life insurance

Who needs life insurance?

Ask yourself this question: Would anyone you care about suffer financially in the event of your premature death? If you have dependant children, the answer is yes. If you have a spouse, the answer is probably.

Who does not need life insurance?

If you are single you probably do not need life insurance. Usually the death of a single/childless person does not leave anyone worse off financially. A single person with a mortgage may still NOT need life insurance as their family would still inherit equity in their property. Single people need to prioritize critical illness and disability insurance.

How much life insurance do I need?

The primary purpose of life insurance is to pay off debts (especially a mortgage) and replace income for dependants of the deceased. We do a needs analysis to determine how much money your family would need to maintain their standard of living in the event of your premature demise. A commonly used guideline for someone in their 30s is 20 times after-tax annual earnings.

Camlife Financial Corp serves clients across: Vancouver | Richmond | West Vancouver | North Vancouver | Burnaby | Surrey | White Rock | Langley | Coquitlam | Maple Ridge | New Westminster BC

Contact Camlife Financial Corp now so we can give you peace of mind……….guaranteed!

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