Uncover Life Insurance Perks That Most Canadians Miss

When it comes to life insurance, many people in Canada think it’s only about providing for loved ones after they pass away. But the reality is that life insurance policies have evolved, offering a variety of features that can benefit you while you're still here. These often-overlooked advantages can help you secure your future in ways you may not expect.

Life Insurance Can Offer More Than Just a Payout

Most people assume that life insurance is all about the payout after death, but there’s much more to it. Many policies, especially permanent life insurance, come with built-in cash value that grows over time. This value can be tapped into for various purposes, such as paying off debts, handling emergencies, or even funding your retirement.

Don’t Miss the Tax Benefits of Life Insurance

One of the most attractive, yet least known, aspects of life insurance is its ability to help you save on taxes. As the cash value within your policy grows, it does so on a tax-deferred basis, meaning you won’t be taxed on it until you access it. Additionally, when the payout is made to your beneficiaries, they usually receive it tax-free.

Life Insurance Riders: Additional Protection for You and Your Family

Many people are unaware that life insurance policies can be customized with riders—add-ons that offer extra coverage. For example, a critical illness rider can provide financial assistance if you're diagnosed with a serious illness, while a disability income rider can replace a portion of your income if you’re unable to work.

Discover if You're Eligible for These Benefits

Many Canadians don’t realize the full potential of their life insurance policies. Whether you're looking to build financial security, reduce your tax burden, or add extra protection through riders, the opportunities are there for you to take advantage of.

Select your age range: