Get lifelong coverage with permanent life insurance

A permanent life insurance plan gives you much more than temporary plans do. It can provide additional tax-deferred savings in addition to traditional retirement plans, such as RRSPs. While term insurance expires, permanent insurance is good for a lifetime.

We've designed permanent life insurance plans for any lifestyle so that everyone can enjoy the benefits of lifelong coverage. Contact your local
Co-operators advisor
to find out more about what life insurance plan is best for you.

Infinity Term®

If you are looking to convert a term plan to a permanent plan and want a more permanent solution at an affordable cost, Infinity Term is for you.

Infinity Term provides affordable, lifelong financial protection tailored to your needs today and into the future. This plan offers permanent coverage, unlike our other term plans designed to cover specific incidents and periods. To make premiums more affordable, Infinity Term offers full coverage without a savings component. It also provides for insurance to continue for longer periods even if you choose not to pay premiums.

Infinity Term offers a variety of benefits to meet your goals for estate planning, business planning, final expenses and income replacement, including:

  • Level premiums to age 110 
  • Guaranteed insurance protection for life as long as the policy is in effect
  • A full set of riders and benefits to customize your plan
  • Your choice of premium payment options
  • Reduced Paid-Up values
  • Fully paid up at age 110

Infinity Term can cover your permanent business, estate or family life insurance needs.

Infinity Term® business

Secure the business you’ve created by insuring yourself, business partners and key employees. Our affordable and guaranteed permanent coverage helps you plan for the future and provides options to keep your business running.

Infinity Term® estate

Preserve your estate for your beneficiaries. The cost of life insurance is only a fraction of the final taxes your beneficiaries could pay without the right coverage.

Infinity Term® family

Provide your family with the coverage they need to maintain their way of life and protect their financial future. Because you determine the amount of coverage, you can create a plan that fits the needs of you and your children.

Riders can be added to any Infinity Term policy to cover your children. See our children’s life insurance section for more details.

Whole Life

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, income taxes and estate settlement costs. It provides financial protection and guaranteed coverage for as long as your policy is in effect, plus:

  • Premium rates guaranteed not to increase for the life of the policy
  • Builds cash value over the life of the policy, which you can borrow against at favourable interest rates
  • Policy dividends, which allow you to share profits based on company performance

20 Payment Life is a plan that provides lifetime coverage and only requires you to pay premiums for 20 years.

Whole Life Family

Whole Life Family provides guaranteed cash values that add the ability for partial surrenders and policy loans. Premium rates are slightly higher than typical non-participating whole life products in the industry, but offer significant dividend potential.  Conversely, premiums for Whole Life Family are much lower than typical participating whole life products. This is a unique product that will provide many benefits including:

  • Guaranteed, level premiums
  • Coverage for the life insured’s entire life
  • Guaranteed cash values, starting in policy year 6
  • Participating; dividends are payable depending on company results, starting in policy year 1
  • Life-Pay and 20-Pay formats are available
  • Maturity at age 110 (Life-Pay policies become paid up at this point)
  • Minimum issue age of 18
  • Maximum issue age of 70 for 20-Pay, and 80 for Life-Pay
  • Single life basis only
  • Face amounts from $25,000 to $10,000,000 (higher amounts require head office approval)

Limited Payment Life is for those who want all the benefits of permanent insurance, but only want to pay premiums for a specific period of time.

Limited Payment Life takes Whole Life in a new direction. It offers permanent insurance that provides guaranteed financial protection for people who want to pay into a plan for a limited period. Like Whole Life, Limited Payment Life includes a savings component that builds equity in the plan, allowing you to take out loans against the policy if needed. It also earns dividends, depending on financial results.

Responsibility® and Responsibility PLUS® Life

Life insurance can protect your family by covering final expenses. 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.