Your Life Insurance — Let's Make Sure It's Working for You
You already have coverage in place. This guide helps you understand exactly what your plan does, what benefits you're already entitled to, and what options may be available to strengthen it over time.
What Type of Coverage Do You Have?
You Have Term Life
Your coverage is active for a fixed period. Your premiums are locked in for that term. When it ends, you'll have options to renew, convert, or upgrade.
You Have Permanent Life (Whole or Universal)
Your coverage is designed to last your lifetime. You're building cash value and may have additional features available to you.

Not sure which you have? That's exactly what we're here to help you figure out — reach out and we'll walk through your policy together.
A Benefit You Already Have: The Tax-Free Death Benefit
One of the most powerful features of your policy is already built in — your beneficiaries will receive your death benefit completely tax-free.
No Tax on the Payout
Your loved ones receive the full amount — not a cent goes to the CRA.
Bypasses Probate
The money goes directly to your named beneficiaries, not through your estate.
Available When It's Needed Most
Funds are released quickly, giving your family financial stability right away.
Your Insurability Is Already Protected
By having coverage in place, you've already done the hard part. Your health at the time you applied is locked in — and that protection is yours to keep.
Your Rate Is Locked In
The premiums you qualified for are based on your health when you applied. That rate doesn't change because of new health developments.
Guaranteed Insurability Riders
If your policy includes this rider, you can increase your coverage at key life milestones — no new medical exam required.
Adding Coverage Later
If your needs have grown (new home, new child, business), let's review whether you can add coverage under your existing insurability.
Universal Life
How Your Universal Life Policy Works

Your UL policy has two jobs: it protects your family AND grows your money tax-sheltered. Here's how your premium works once it enters your policy.
Every dollar you put in above the cost of insurance stays in your policy, growing tax-sheltered. That's your money — working for you.
Understanding Your Cost of Insurance (COI)
Each month, a small charge is deducted from your policy account to keep your coverage active. This is called the Cost of Insurance — and it's important to understand how it works.

⚠️ As you age, your COI increases. If your account balance runs low, your policy could be at risk. The good news? There are steps we can take together to keep it healthy.
1
You Pay Your Premium
Funds go into your policy account.
2
COI Is Deducted Monthly
Your coverage cost is automatically withdrawn.
3
The Rest Grows for You
Any remaining balance earns interest, tax-sheltered.
Your Cash Value — An Asset You May Not Know You Have
Tax-Sheltered Growth
Your cash value grows inside your policy without triggering annual tax. Over time, this can become a significant financial asset.
Access Through Policy Loans
You can borrow against your cash value — no credit check, no tax triggered. Your investment keeps growing while you use the funds.
Paid-Up Additions (If Available)
Some policies allow extra deposits that permanently increase both your coverage and your cash value — with no new medical exam.
Tax Strategy
Your Policy Grows Tax-Free — Here's Why That Matters
Because your policy maintains its exempt status under the Income Tax Act, your money grows in a way most investments can't match.
  • No annual tax on investment gains inside your policy.
  • Your death benefit is paid out completely tax-free to your beneficiaries.
  • Extra deposits are possible — but should be reviewed to stay within exempt limits.
Your Policy (Exempt)
Tax-sheltered growth. Tax-free death benefit. No annual reporting.
A Regular Investment Account
Annual taxable gains. No death benefit advantage. Loses tax-sheltered status.
UL Types
Which Type of Universal Life Do You Have?
Universal Life policies come in three variations. Understanding which one you have helps you know what to expect — and what options may be available to you.
Current-Assumption UL
Your cash value grows based on the insurer's declared interest rate. Rates can change over time, but this type offers stability and simplicity.
Indexed UL (IUL)
Your cash value is linked to a market index (like the S&P 500), with a floor of 0% — so you can benefit from market growth without direct market risk.
Guaranteed (No-Lapse) UL
Your coverage is guaranteed for life as long as minimum premiums are paid — regardless of market conditions or cash value. Maximum security.
Optional Upgrades — What You May Be Able to Add
This card is about optional enhancements and riders you may be eligible to add to your existing policy. Explore ways to strengthen protection, add flexibility, or improve long-term value.
Increase Your Coverage
If your life has changed — a new home, a growing family, or a business — you may be eligible to increase your coverage, especially if you have a Guaranteed Insurability Rider.
Add a Critical Illness or Disability Rider
Riders can be added to your existing policy to help protect your income or provide a lump sum if you're diagnosed with a serious illness.
Boost Your Cash Value
If your policy allows, you may be able to make additional deposits to accelerate your tax-sheltered savings — without new underwriting.
Whole Life
Your Whole Life Policy — What's Built In for You
Your Whole Life policy was designed to be simple, stable, and permanent. Here's a reminder of what you already have working in your favour.
Guaranteed Coverage for Life
Your coverage never expires and your premiums never increase — exactly as agreed when you signed.
Growing Cash Value
A portion of every premium you pay is building tax-deferred cash value. This is your money, and it's accessible.
Predictable & Transparent
No surprises. Your policy performs exactly as illustrated — guaranteed.
Built for Your Estate
Your policy is a powerful tool for passing wealth to the next generation, with potential creditor protection.

💡 If your policy is Participating, you may be earning dividends that are quietly growing your coverage or reducing your premiums. Ask us to review your current dividend status.
Your Policy Illustration — How to Read It
Your policy illustration shows how your coverage and cash value are projected to perform over time. It's a roadmap — and knowing how to read it puts you in control.

💡 Always review both columns with your advisor. The guaranteed column shows the minimum — the non-guaranteed column shows what's possible. Your actual results may fall anywhere in between.
The Guaranteed Column
This is the floor — the minimum your policy will deliver, based on the lowest credited rates.
The Non-Guaranteed Column
This reflects current assumptions. It's not a promise, but it shows the potential if conditions hold.
What to Do Next
1
Review Your Current Coverage
Make sure your coverage amount still reflects your life today — family, mortgage, income, and goals.
2
Check Your Cash Value
If you have a permanent policy, ask us for an updated statement. You may have more than you think.
3
Explore Your Upgrade Options
Riders, additional deposits, or coverage increases may be available to you — without starting over.
4
Schedule a Policy Review
A 30-minute conversation can reveal opportunities and gaps you didn't know existed.
Let's Review Your Policy Together
Your life has changed since you first got coverage. Let's make sure your plan has kept up.
📩 Reach out today — no obligation, just clarity.