Get lifelong coverage with permanent life insurance
A permanent life insurance plan gives you much more than temporary plans do. Some products provide tax-advantaged savings which can complement traditional retirement plans, such as RRSPs. While term insurance has a set time length and premiums increase each renewal, permanent insurance is good for a lifetime with guaranteed premiums.
We've designed permanent life insurance plans that provide options and choices to meet your unique needs.
Whole Life Suite
Whole Life is for those who want lifetime coverage with built-in savings, the comfort of guaranteed premiums and the ability to earn dividends. Whole Life covers all permanent insurance needs, including funeral costs, estate settlement costs, paying debt, and any other financial need. Features include:
- Guaranteed cash values that can provide you with access to the funds through partial surrenders and policy loans
- Policy dividends (not guaranteed), which allow you to share profits based on the participating account performance and are payable after the first policy anniversary
- Automatic premium loans, where accumulated cash values can keep your policy in force if you are unable to pay premiums for a period of time
- An option to pay premiums for the life of the policy or for 20 years
- Children’s coverage with our Whole Life > Head Start™ policy to ensure your loved one is covered for life
- Coverage starts at $25,000 and is available between the ages of 0 to 80
Contact your local advisor to discuss the benefits of a Whole Life policy.
Universal Life Suite
Universal Life provides you with additional ways to manage your financial portfolio now and into retirement. Universal Life plans protect your wealth, allow savings to grow in a tax-deferred environment, and provides for your beneficiaries in the event of your death.
We know everyone wants to enjoy maximum flexibility in coverage options. Universal Life provides you and your family with that flexibility. These are just a few of the benefits you’ll enjoy with a Universal Life policy:
- Coverage that adapts as your life changes
- Savings growth in tax-advantaged accounts
- Multiple investment accounts tailored to your risk profile
- Access to cash accrued within your policy when you want it
- Premium holidays
We have different plans in the Universal Life Suite. Each is designed to address the needs of a specific life stage, as well as a plan for Business owners. Your local Co-operators advisor will work with you to set up the best plan for you.
“Premium holidays” available when you need them
There may be times you need to reduce your monthly expenses for a while. Unanticipated costs like car repairs or home renovations can strain your budget, but there’s no need to worry. Your Universal Life policy allows you to take an occasional break from paying premiums when necessary, as long as you have enough funds in your policy to cover your monthly insurance charges.
Interest Rates and Unit Values
To view current interest rates and unit values, select a universal life product from the list below:
Contact your local Co-operators advisor for more details on any of our Universal Life plans.
*Tax regulations can change at any time.
If you are looking to convert a term plan to a permanent plan at an affordable cost, Infinity Term® is for you. To make premiums more affordable, Infinity Term® offers full coverage without a savings component.
Infinity Term® offers a variety of benefits, including:
- Guaranteed level premiums that are fully paid up at age 110
- A full set of riders and benefits to customize your plan
- Your choice of premium payment options
- Coverage starts at $25,000 and is available between the ages of 0 to 80 for Life-Pay and 0 to 70 for 20-Pay.
Infinity Term® can cover your permanent business, estate or family life insurance needs.
Contact your local Co-operators advisor to find out more about Infinity Term® and how it can meet your needs.
Responsibility® and Responsibility PLUS® Life
If you're between 40 and 80 or on a fixed retirement income, you can still enjoy affordable coverage with our Responsibility suite of products.
Responsibility® Life or Responsibility PLUS® Life can give you the coverage you need with no required medical examination.
Protect your family with a plan that offers:
- Up to $25,000 in coverage with no medical or blood test required
- Up to four times the coverage amount for accidental death
- Affordable monthly premiums that never increase
You can use a Responsibility Life® policy to leave money to:
- Cover funeral costs and any outstanding debts or medical bills
- Leave a financial gift for your family, favourite charity or church
- Contribute to an education plan for your children or grandchildren
Contact your local advisor to discuss the Responsibility® suite of life insurance.