A Powerful, Flexible Tool for Estate Preservation, Gifting, Insurance Coverage, Leveraging, Buy-sell Agreements, and Pension Maximization
Designed to meet both your life insurance and investing needs, universal life insurance combines long-term insurance protection and tax-advantaged investing in one single, customizable policy. Whether your goal is to protect the legacy you’re building for your loved ones, or to build additional wealth over time, universal life insurance can help you:
- Help build and preserve your Estate
- Estate preservation to pay debts, tax liabilities, probate fees, executor fees, legal and accounting fees or other Estate costs
- Efficient way to create an Estate and to transfer wealth to later generations
- Investing monies into an exempt policy shelters all growth from any taxation
- Immediate injection of tax-free cash when needed the most
From how you want to invest, to how you pay for your insurance, to how much or little you want to invest, Scott Mallender Insurance of the Windsor Ontario region offers a variety of simple Universal Life coverage options that can be customized to meet your financial planning needs.
How Universal Life Works
It’s important to remember that you don’t have to pay tax on any growth in the investment accounts because it is part of a life insurance policy, provided your policy value does not exceed an amount prescribed under the Income Tax Act.
Flexible To Meet Your Needs
Universal Life insurance is the most flexible life insurance solution available. While combining life insurance protection with a flexible portfolio of investment options, Universal Life insurance also gives you the flexibility to change the level, frequency and duration of deposits as your needs change.
Extra Benefits Included in Your Customized Policy
At Scott Mallender Insurance in Windsor, we recommend a yearly review of your insurance policy to make sure it continues to meet your changing needs. And, if your needs change, it’s good to know that you have several options to change your current amount of insurance or type of coverage.
These extra benefits are included in your Universal Life policy:
- Waiver of Monthly COI: own occupation disability after 30 days
- No Investment Charges: No further MERs on all 50+ investment options
- Compassion Assistance: if you become terminally ill, up to 50% of the death benefit may be awarded earlier
- Wealth Enhancer: maximizes investments automatically- MTAR option
- Multiple Lives: up to 20 people can be insured under one contract
- Healthy Rewards: good health may result in a lower cost of insurance
Bottom Line – The benefit of choosing Universal Life insurance is that it not only offers you guaranteed, quality, tax free insurance protection, it also offers you the opportunity for tax free growth investing. Buy term and invest the difference, comes to reality with Universal Life.
Scott Mallender is a Gold Elite Insurance Broker who works with fifteen of the top Canadian Life Insurance companies. His associates include a network of tax, retirement and estate planning lawyers, accountants, underwriters, and actuaries.
