Life Insurance
What’s the difference between term life insurance and permanent life insurance?
Term life insurance is for if you die too soon. Permanent life insurance is for when you die.
Put another way, it’s the difference between renting and owning. Term life insurance (renting) protects the people who rely on you—and this type of insurance can fulfill a profound need during your working life. Permanent life insurance (the type of insurance you own) lasts beyond your working years and can be used as collateral for a loan, as a means of building tax-efficient wealth, and as a seamless way to leave a legacy.
TERM LIFE INSURANCE
We all have our reasons for buying life insurance. Those reasons are big. The biggest. Moving in. Getting married. Starting a family. Buying a home. Launching a practice. And a hundred other reasons that are as unique as you are. Discover why term 80 life insurance has all your reasons covered.
PERMANENT LIFE INSURANCE
Collateral benefits. Permanent life insurance is more than just insurance (although it is that, too): it’s an asset. You can borrow from it, use it as collateral for a loan, and—powerfully—you can use it as an alternative asset class within your corporation to build tax-efficient wealth.
We’re here to help.
Talk to a Lawyers Financial advisor about one of the biggest decisions in life, insurance or otherwise.
Term life insurance is underwritten by The Manufacturers Life Insurance Company (Manulife). Permanent life insurance may be underwritten by one of three insurance partners: The Canada Life Assurance Company, The Manufacturers Life Insurance Company (Manulife), or Sun Life Assurance Company of Canada.
