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Whole Life Insurance

What is Whole Life Insurance?

Permanent life insurance plans are life insurance plans in which the coverage remains constant until death, regardless of age.

Many permanent plans are designed to grow cash value that can be tax-deferred.

Whole Life insurance plans are ideal for people who think they will want to have life insurance in place for their entire lives.

What are the different types of Whole Life Insurance?

Stepped Premium Insurance

These life insurance plans offer a premium based on your age, which is recalculated, generally annually, based on your age and health.

Life Term to 100 Insurance

These plans are paid until the age of 100, but the coverage lasts for a lifetime. As with level premium insurance, payments never increase as you age. These plans also provide a tax-free cash benefit to the designated beneficiary upon the insured’s death.

Universal Life Insurance

Universal life insurance is a life insurance plan that is combined with investment options for growing savings. Any deposits into the account beyond the payment amounts are invested or used to increase the guaranteed death payout to the assigned beneficiaries.

Level Premium Insurance

Whole life insurance plans have a set premium that remains constant until death, with a higher starting premium than stepped premium insurance plans, but with a high potential for overall savings as you age.

Hybrid Life Insurance

Hybrid life insurance combines long-term care coverage with typical life insurance. If the insured dies before requiring long-term health care, the money saved towards it goes to their beneficiaries, but if they do require long-term health care, the money can be used to pay for it.

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Faraidoun "Frank" Akhavan

Faraidoun (Frank) Akhavan

Office 205 - 3994 Shelbourne Street
Victoria BC, V8N 3E2

Cell 250-953-2304

Office 250-953-2300

Fax 250-881-7497

Skype faraidoun9

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Testimonials

Royale British Columbia Financial Inc was able to clearly explain how critical illness insurance, combined with a universal life plan, not only helps provide for my family in case something happens to me, but also serves as an investment for the future. I didn’t really want to think about this stuff before, but Royale Financial worked closely with me to sort out the best options for my family.
- Michael -