Universal Life Insurance
Description
Universal life insurance is permanent life insurance that provides a lump sum benefit to beneficiaries on the death of the life insured. Premiums can be level and cash values can be used as an eventual source of cash or can be added to proceeds after death.
Objective
To provide a base of permanent life insurance coverage for permanent needs.
Suitability
Universal life insurance is best suited for conservative individuals seeking tax deferral and permanent protection for beneficiaries to cover costs associated with final expenses, taxes on registered assets and capital gains.
Features
- Tax-deferred growth: The cash value of permanent universal life insurance grows tax deferred.
- Higher premiums: The premiums for universal life are higher than for term insurance. It is possible to lock a guaranteed level premium into the plan.
- Choice of insurance cost: You can choose yearly renewable or guaranteed level term as your cost of insurance.
- Choice of investment option: You choose the investment mix that suits your needs based on guaranteed interest options, managed money and equity-linked investments.
For more information, please contact your Edward Jones financial advisor*.
Insurance and annuities are offered by Edward Jones Insurance Agency (except in Quebec). In Quebec, insurance and annuities are offered by Edward Jones Insurance Agency (Quebec) Inc.
