Universal Life Insurance – Foundational Life®

People across Canada wanted the advantages that come with permanent life insurance. And they wanted the option to save for the future with no-risk investments. Foundational Life insurance is designed to give you the tools you need to help build the financial future you want. Youíll find the features and flexibility you need today, no matter which stage of life youíre in. It provides important advantages, starting with affordable, permanent life insurance. You also have the option to invest in a tax-deferred environment, with guaranteed returns. Whatís more, you can customize your Foundational Life plan by choosing from an array of popular options and benefits.

Itís all up to you. How would you like to begin building your future? Contact us and let us help you tailor a Foundational Life plan to suit your needs.

Special Family Offer

You will qualify for a 50% reduction in administration fees when you and another member of your household purchase coverage at the same time. Also, there will be no administration fees on any policies for children, provided their plans are purchased as the third and subsequent policies.

Choose your insurance protection

  • Choose coverage from $10,000 to $10,000,000, with a guaranteed cash surrender value.
  • You can purchase Foundational Life insurance up to age 80.
  • Provides coverage for life.
  • Choose a Foundational Life plan where your cost of insurance stops in 10, 15 or 20 years Ė essentially, you pre-pay it during that time.
    Or
    Choose a 20-year renewable term where your policy is paid up when you reach age 85. Premiums will increase with each 20-year renewal.
  • Choose a joint policy covering two people, that pays out after both people have passed away.
    Or
    Choose a joint policy covering up to five people, that pays out when the first person passes away.

For help in selecting the coverage thatís right for you, contact us today.

Choose your investment options

Many people want simple, low-risk investments that are easy to understand and predictable. Thatís why Foundational Life insurance offers two such accounts. One is linked to Government of Canada Treasury Bills, and the other to Government of Canada Bonds.

For those who prefer to mirror the returns of a major stock market index, Foundational Life provides a third account. It moves up and down, in relation to the stocks that make up the S&P/TSX 60.

Foundational Life Daily Interest Account

Objective: To provide guaranteed, short-term interest rates.

Risk: This account provides a risk-free, guaranteed minimum rate of return thatís linked to Government of Canada Treasury Bills.

Description: The account provides short-term interest thatís competitive with rates earned at major Canadian banks, in daily interest savings accounts at current market rates.

The account is attractive to those who want to benefit when interest rates are rising, and do not want to be locked in to a lower, prevailing rate.

The interest rate is equal to 90% of the yield on 30-day Government of Canada Treasury Bills, minus a 2% management fee.

Foundational Life Long Term Interest Account

Objective: To provide guaranteed returns that correspond to an average rate of return on longer term investments of 10 years.

Risk: This account provides a risk-free, guaranteed minimum rate of return that is linked to Government of Canada Bonds.

Description: The account is attractive to those who want modest gains from risk-free investments.

The interest rate is equal to 90% of the 10-year rolling average rate linked to 10-year Government of Canada Bonds, minus a 2% management fee.

This means that the money you invest is protected, and will grow by at least the guaranteed rate each year.

S&P/TSX 60 Stock Index Account

Objective: To achieve long-term growth, based on the value of the stocks that make up the S&P/TSX 60 Index. ďLong-termĒ generally refers to 10 years or more.

Risk: This account can rise or fall, depending on the fluctuations of the stock market. In comparison to other volatile investments, this account tends to be in the mid risk tolerance range.

Description: The account is attractive to those who want to mirror the returns of the S&P/TSX 60 Stock Index, and who have a medium tolerance for risk. Itís suitable for those who have a longer time horizon, and plan to leave their investment untouched for about 10 years.

NOTE: The accountís annual management fee is 3.25%. This means that the value of the investment will be reduced by this fee each year. There is no guarantee that the account will experience gains in any given year. Nor is there any guarantee that the original investment will have grown by the time the investment is paid out. Depending on the movements of the markets, this account could show a loss.

Three ways to access your money if you need it

You can withdraw a minimum of $500 from your investments at any time. However, these withdrawals may be subject to tax. You can borrow up to 90% of the cash surrender value of your policy Ė minus any other outstanding loans – at a preferred interest rate. You can surrender your policy and receive its full cash surrender value. However this may be subject to tax.

Choose important benefits for your family

Customize your Foundational Life policy to suit your familyís needs, with these benefits that are available at an additional cost:

  • Critical Illness Benefit: If you are diagnosed with one of the serious illnesses specified in your policy, the full cash surrender value of your policy will be paid to you after the survival period. Your life insurance will remain in effect and all insurance charges will be waived.
  • Accidental Death Benefit: In the event of your accidental death, an additional lump sum benefit will be paid to your beneficiaries.
  • Term 10 Rider: Increase your coverage with additional term insurance, guaranteed renewable every 10 years, without a medical exam, until you are 80 years old.
  • Term 20 Rider: Increase your coverage with additional term insurance, guaranteed renewable every 20 years, without a medical exam, until you are 80 years old.
  • Childrenís Term Insurance Rider: Add term insurance to cover the lives of your children.
  • Premium Waivers: We waive the cost of your insurance under your choice of these three benefits.
    Total disability waiver of premium:
    Premiums are waived if you become totally disabled.
    Payor total disability waiver of premium:
    Premiums are waived if the person who pays the premiums – but who is not the person insured – becomes totally disabled.
    Payor death waiver of premium:
    Premiums are waived if the person who pays the premium – but who is not the person insured – dies.

Let us tailor a Foundational Life policy to suit your needs

Contact us today and make sure your family is protected.

Author: car health