Whole life insurance is a form of permanent insurance, or term to 100 insurance, which provides a guaranteed cash benefit at the time of the insured’s death. Some policies also accumulate cash values on a tax deferred basis over the life of the policies.
Programs include options for premiums to be paid for the life of the contract or premiums to be paid on an accelerated basis for a number of years. These policies typically have a “paid up” feature included. Future annual premiums are funded from accelerated payments and cash values accumulated inside the policy.
I recommend Canadian Term Insurance. I was offered a solution which allowed me to find coverage for both the immediate and long term with a mix of both 10 and 20 year term insurance.
Canadian Term Insurance helped to decide upon the correct amount of coverage to protect our family. Jeff recommended a program which provides 20 years of term coverage for my wife at preferred rates, and 10 years of term insurance for me at a higher death benefit.
Jeff Comiskey assisted my wife and I in identifying a need for insurance, and presented us with a variety of choices. We chose universal life insurance because of the permanent protection it offered and rates that remain the same for our entire lives.
