Permanent Life
There are two types of life insurance, Temporary Life Insurance and Permanent Life Insurance.
Temporary Life Insurance Examples
- Term Insurance Policy
- Mortgage Insurance
- Group Insurance
Permanent Insurance Examples
- Whole Life Insurance
- Universal Life Insurance
- Term to 100 Insurance
Permanent insurance is used for estate planning and retirement planning.
You should consider Permanent Insurance if you are wishing to ensure the financial security of loved ones in the event of death, or seeking a simple, flexible and affordable product.
Four permanent protection options are available:
- L10, lifetime coverage with premium payments for 10 years;
- L20, lifetime coverage with premium payments for 20 years;
- L65, lifetime coverage with premium payments up to the age of 65;
- L100, lifetime coverage with premium payments up to the age of 100.
Your sum insured and your premiums are guaranteed for the term of your insurance. You enjoy guaranteed cash surrender values as of the 11th contract year.
Your premiums are determined according to the sum insured chosen and the general state of your health.
Children who are insured between 0 and 14 years of age receive a 40% increase in their total insurance coverage if they submit a non-smoker's declaration when they are between 15 and 20 years of age.
A guarantee of insurability is added to the child coverage, at no additional cost, if the insured is aged 17 or under at the time of issue.
You may insure up to nine persons under the same contract.