Personal Insurance Products
Life Insurance provides for a sum of money on the death of the insured life. Generally coverage is available as TermInsurance, Permanent Insurance, Mortgage Insurance, Universal Life or some combination of these.
Permanent Life Insurance is any other type of life insurance other than term insurance. The main distinguishing feature from a term policy is that the benefit period can extend beyond the term of payment.
A Universal Life policy is a long-term financial planning tool. The financial security plan acts as tax sheltered savings vehicle that can be used to accumulate large dollar to fund for such things as a well-deserved retirement, finance an acquisition, education savings for children or leave as an inheritance. Compared to other savings vehicles available in the market (GICs, savings bonds, etc.), this product has many competitive advantages: