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    Flexible Lifetime Coverage
    and Investment Growth

    Protect your family and grow your wealth with universal life insurance-permanent coverage, flexible premiums, and powerful investment options, all with expert guidance from Punjab Insurance.

    Punjab Insurance has been helping Canadians achieve lifetime protection and financial growth for over 25 years. We compare Canada's top insurers to find universal life plans tailored to your unique needs and goals.

    Multi-generational family saving money at table

    What Is Universal Life Insurance?

    Universal life insurance is a form of permanent life insurance that combines lifelong coverage with flexible premiums and an investment component. You can adjust your coverage, change premium payments, and build cash value that grows tax-deferred. This makes universal life an ideal solution for those seeking both protection and long-term financial planning.

    • Lifelong protection: coverage that never expires as long as premiums are paid
    • Flexible premiums: adjust your payments as your needs change
    • Tax-advantaged cash value: build savings within your policy, with investment options

    Universal Life Insurance

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    Types of Universal Life Insurance

    Guaranteed Universal Life with fixed coverage and minimal cash value
    Guaranteed Universal Life

    Simple, low-maintenance, with fixed coverage and little to no cash value.

    Indexed Universal Life with cash value growth linked to stock market index
    Indexed Universal Life

    Cash value grows based on a stock market index, offering potential for higher returns.

    Variable Universal Life with cash value invested in market-based funds for growth potential
    Variable Universal Life

    Invest cash value in a range of market-based funds for greater growth potential (and risk).

    Why Choose Universal Life Insurance?

    Flexible premiums and adjustable coverage amounts
    Flexible premiums and coverage amounts
    Permanent lifelong protection for policyholders
    Permanent, lifelong protection
    Tax-deferred growth of policy's cash value
    Tax-deferred investment growth
    Access policy cash value for retirement, emergencies, or opportunities
    Access cash value for retirement, emergencies, or opportunities
    Customizable with riders for disability, critical illness, and more
    Customizable with riders for disability, critical illness, and more
    Policy can be used as collateral for loans or business financing
    Use policy as collateral for loans or business financing

    How Does Universal Life Insurance Work?

    Premiums
    Premiums

    Choose how much and how often you pay, as long as you cover the minimum cost of insurance.

    Death Benefit
    Death Benefit

    Your beneficiaries receive a generally tax-free lump sum (under current Canadian tax rules) when you pass away.

    Cash Value
    Cash Value

    Part of your premium builds cash value, which you can access, borrow against, or invest in a variety of options.

    Investment Choices
    Investment Choices

    Select from guaranteed, indexed, or variable investment options to match your risk tolerance and goals.

    Policy Flexibility
    Policy Flexibility

    Adjust the death benefit, change investment allocations, or add riders for extra protection.

    How Much Does Universal Life Insurance Cost?

    Premiums depend on age, health, coverage amount, investment options, and added benefits. Universal life offers flexibility to adjust payments and coverage over time. For a personalized quote, contact a Punjab Insurance advisor.

    Premiums vary by individual factors-get a custom quote for accurate pricing.

    FREQUENTLY ASKED QUESTIONS

    Frequently Asked Questions about
    Universal Life Insurance

    How is universal life different from whole life?
    Both offer lifetime coverage, but universal life gives you more flexibility in premium payments, death benefit, and investment choices.
    Can I access my policy's cash value?
    Yes! You can withdraw or borrow against your cash value, often tax-free, to supplement retirement income or handle unexpected expenses.
    What investment options are available?
    Choose from guaranteed accounts, index-linked funds, or market-based investments, depending on your goals and risk tolerance.
    Can I skip or reduce premium payments?
    If your policy has sufficient cash value, you may be able to use it to cover premiums temporarily.
    Are medical exams required?
    Some policies require a medical exam, while others may offer simplified or no-medical options.
    How do I get started?
    Get a free quote or schedule a call with a licensed Punjab Insurance advisor for expert, personalized advice.
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    Why Families & Businesses Choose Punjab Insurance

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    Build lifelong protection with the flexibility to grow and adapt. Universal life insurance combines permanent coverage with investment potential, giving you control over premiums and cash value-so your family's financial future stays secure as life evolves.
    Disclaimer: Information on this page is for general guidance only and not a substitute for professional advice. Please consult a licensed Punjab Insurance advisor for personalized recommendations.