Lifelong insurance protection for your family with the potential to grow your wealth tax-free.
It’s lifelong coveragethat pays whomever you choose a tax-free payment when you die. Yourpolicy is guaranteed to grow in cash valueaslong asyou pay your premiums.Cash value is thevalue of theinsurance policy that you can access as cash.Yourinsurance payoutis reduced when you access your cash value.
Your paymentsare pooled in aseparate accountcalled the participating accountwith other policyowners. The funds are professionally managed and may provide you with a dividend.
Strong, flexible and built on a foundation of guarantees, participating life insurance gives you lifelong protection and value you can access for cash.
Narrator: How would you feel if you had insurance protection for your whole life?
Description: A couple stands together, the woman is pregnant. A line protects them like a roof.Disclaimer appears: “As long as you make required insurance payments.”
Narrator: Now what if your insurance protection also had value that you could access for cash?
Description: The line moves downward and catches them, like a hammock. Disclaimer appears: “As long as your money remains in the policy, within legislative limits.”
Narrator: That’s exactly what you get with participating life insurance.
Description: Text “Participating Life Insurance appears.” A shield is drawn around the text.
Narrator: It’s protection that’s built on a foundation of guarantees.
Description: A line enters into frame.
Narrator: Starting with guaranteed premiums that won’t change.
Description: A block with the text “Guaranteed premiums” builds into frame.
Narrator: Name a charity or loved one for the death benefit – whomever you want – so money is available when they may need it most.
Description: First block is bumped up by another block with the text “Guaranteed death benefit.”Disclaimer appears: “You may have to pay taxes on funds withdrawn or borrowed from your policy. In addition, any withdrawals or loans will decrease the size of your death benefit.”
Narrator: Plus, your policy’s cash value is guaranteed to grow over time with tax advantages.
But that’s not all.
Description: Second block is bumped up by another block with the text “Guaranteed cash value.”
Narrator: We pool money that you, and every other participating life insurance policyowner, pay and put it into a separate account.
Description: Cut to stack of coins. More stacks slide into account. Money is moved out of smaller account into a larger one. Stacks of bills and coins slide in.
Narrator: That money is professionally managed and used to pay for the expenses, taxes, insurance claims and other items.
Description: Some money falls out of larger account into a box that reads text “Expenses, taxes, insurance claims and other items.”
Narrator: If the account performs better than we initially expected, you may get a dividend.
Description: Some money falls again into a box that reads “Dividend.” Disclaimer appears: “Dividends aren’t guaranteed.”
Narrator: And, you decide what happens to your dividends – take them as cash,
Description: Hand reaches into box and pulls out a few bills.
Narrator: buy more insurance
Description: An insurance policy comes out of the box, like a printer
Narrator: or pay for your existing coverage.
Description: Policy is circled as paid.
Narrator: It’s strong, it’s flexible and it’s there when you may need it most.
Description: Cut to couple again, time has passed, they watch their child is swinging on a tree swing.
Narrator: That’s participating life insurance.
Description: Text “Talk to your advisor today” appears with Canada Life logo and legal.
Narrator: How would you feel if you had insurance protection for your whole life?
Description: A couple stands together, the woman is pregnant. A line protects them like a roof.Disclaimer appears: “As long as you make required insurance payments.”
Narrator: Now what if your insurance protection also had value that you could access for cash?
Description: The line moves downward and catches them, like a hammock. Disclaimer appears: “As long as your money remains in the policy, within legislative limits.”
Narrator: That’s exactly what you get with participating life insurance.
Description: Text “Participating Life Insurance appears.” A shield is drawn around the text.
Narrator: It’s protection that’s built on a foundation of guarantees.
Description: A line enters into frame.
Narrator: Starting with guaranteed premiums that won’t change.
Description: A block with the text “Guaranteed premiums” builds into frame.
Narrator: Name a charity or loved one for the death benefit – whomever you want – so money is available when they may need it most.
Description: First block is bumped up by another block with the text “Guaranteed death benefit.”Disclaimer appears: “You may have to pay taxes on funds withdrawn or borrowed from your policy. In addition, any withdrawals or loans will decrease the size of your death benefit.”
Narrator: Plus, your policy’s cash value is guaranteed to grow over time with tax advantages.
But that’s not all.
Description: Second block is bumped up by another block with the text “Guaranteed cash value.”
Narrator: We pool money that you, and every other participating life insurance policyowner, pay and put it into a separate account.
Description: Cut to stack of coins. More stacks slide into account. Money is moved out of smaller account into a larger one. Stacks of bills and coins slide in.
Narrator: That money is professionally managed and used to pay for the expenses, taxes, insurance claims and other items.
Description: Some money falls out of larger account into a box that reads text “Expenses, taxes, insurance claims and other items.”
Narrator: If the account performs better than we initially expected, you may get a dividend.
Description: Some money falls again into a box that reads “Dividend.” Disclaimer appears: “Dividends aren’t guaranteed.”
Narrator: And, you decide what happens to your dividends – take them as cash,
Description: Hand reaches into box and pulls out a few bills.
Narrator: buy more insurance
Description: An insurance policy comes out of the box, like a printer
Narrator: or pay for your existing coverage.
Description: Policy is circled as paid.
Narrator: It’s strong, it’s flexible and it’s there when you may need it most.
Description: Cut to couple again, time has passed, they watch their child is swinging on a tree swing.
Narrator: That’s participating life insurance.
Description: Text “Talk to your advisor today” appears with Canada Life logo and legal.
- Pay your premiumsandyourpolicy’scash value grows tax-free, within limits
- Your payments go into theparticipatingaccount that is professionally managed
- That money is usedto pay for expenses, taxes, insurance claims and other items
- You mayreceive dividendsbased on theparticipatingaccount’s performance
- You cantakeyour dividendas cash, buy more insurance or pay for your existing coverage
- Whomever you choose receives a tax-free payment when youdie
Participatinglife insurance can be more expensive than term anduniversal life insurancebecause of the policy’s guarantees.
There are several variables that determine the cost of your policy. Here are a few of the main factors:
Make a bigger impact with your charitable giving using Canada Life My Par Gift participating life insurance.
Guaranteed growth
When your policy’s cash value grows, the new total is automatically guaranteed and is protected from declines, unless you use it for some other purpose. The only way it can be reduced is if you use the cash value.
Flexibleaccess
You can access your policy’s cash value in several ways: Borrow from your policy, use it as collateral for a third-party loan or withdraw cash value. Thismayaffect your coverage, and you may have to pay taxes.
If theparticipatingaccount performs better than expected, wemaydistribute dividends from these earnings.You can use dividends in one of several ways:
- Increase your coverage, which may increase the policy’s cash value
- Decrease or stop yourpayments
- Take your dividendsascash
Notify us of a death and/or make a claim on a wealth or life insurance policy bought through an advisor.
Canada Life and design and Canada Life My Par Gift are trademarks of The Canada Life Assurance Company.
