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Universal Life Insurance

 

Universal Life Insurance is the most flexible Life Insurance available today. You can customize your plan when you buy it, or easily make changes later on. Universal Life Insurance offers you the opportunity for tax-advantaged investing. This gives you the chance to increase your wealth by investing money within your policy.

 

Universal Life Insurance plans combines permanent life insurance protection with a flexible portfolio of investment options, customized to your financial needs and aligned with your risk tolerance.

 

Universal Life Insurance provides permanent Life Insurance protection with a tax-advantaged investment component. As cash values accumulate, they can be used to pay part or all of the cost of your Insurance.

 

Universal Life Insurance is one solution that combines two important aspects of financial planning:

 

  1. Permanent Insurance protection for lifelong peace of mind, plus
  2. Investment account options that can grow your savings, tax-deferred.

 

In addition to providing security and protection through its Life Insurance component, Universal Life Insurance can provide an additional source of income for emergencies, Retirement Income or for Estate Planning needs. Universal Life Insurance also gives you access to cash. When your Investment plan has accumulated sufficient cash value, you can withdraw cash from it, or borrow money using the policy as collateral.

 

You select an Investment mix that is best for you—taking into account the amount of risk you are comfortable with, and your financial goals and circumstances.

 

Universal Life Insurance policies can be customized solutions that change over time to fit your evolving lifestyle, your season in life, budget and savings objectives.

How Universal Life works:

With Universal Life Insurance:

1. You choose a guaranteed death benefit amount that     will be paid to your beneficiaries when you die.

2. Your payments are deposited to a “policy fund”.

3. Any money you deposit over and above what is     required for the cost of the insurance can either be:

     • placed into investment accounts to
       grow-deferred or

     • used to increase the value of your  death benefit.

 

Who is Universal Life for:

 

We find that Universal Life Insurance is a popular choice for:

1. People who have maximized their RRSP     contributions.

2. Parents and grandparents who want to maximize     their estate for their children and grandchildren.

3. Business owners looking for a tax- efficient way to     protect the value of their business.

4. Charitable Giving.

 

The total account value in your policy can grow on a tax-advantaged basis within limits. The Insurance proceeds paid to your beneficiary upon your death are tax-free and may include the total account value you’ve been accumulating over the years.

 

Each payment you make is divided into an Insurance premium, a small administration charge, and a deposit into the Investment accounts of your choice, where your money grows tax-deferred.

 

Contact Stewart Financial Services to find out more information on how Universal Life Insurance can help you protect what is important to you and your lifestyle.