Cash Back Life Insurance in Vancouver

 In life insurance, term life insurance

Most people will understand the need for life insurance as a way to financially protect your loved ones on death.  While the benefits of life insurance are clear, some prefer to get their money back at a later date with cash back life insurance.

Vancouver Cash Back Life Insurance or Money Back Life Insurance

Cash back life insurance or money back life insurance is typically a Term Life insurance product that allows you to add a return of premium rider.  The return of premium rider guarantees that you can cancel and get your money back on cancellation of the policy at some point in the future.  Unfortunately, this type of cash back life insurance doesn’t exist in Canada as of this writing.  In Canada, critical illness insurance has many return of premium options but this is not generally available for term life insurance.  However, we can still structure a life insurance product to allow you to get your money back

Structuring Cash Value Life Insurance to Work Similarly to Cash Back Life Insurance

Cash value life insurance is a type of permanent life insurance policy that allows you to build cash values over the life of the plan.  We can structure these types of plans so that the cash value is equal to the premiums that you have paid, in the time frame.  Alternatively, we can also design a plan where the reduced paid up death benefit value is equal to the premiums that you paid so that premiums can be returned you in the form of a death benefit even after you’ve stopped paying for the policy.

Cash Value Life Insurance in Vancouver

Cash Value Life Insurance accumulates value over time and many factors influence how the value grows.  If your goal is to cancel your policy in 20 years and get all your money back, we can choose or design a policy that either guarantees that amount of cash value in 20 years or estimates that amount.   The stronger the guarantees, the higher the premiums so your target budget will have to be taken into account.

Reduced Paid Up Insurance as a Method for Premium Refunds

A reduced paid up life insurance policy is a lifetime pay permanent policy for which you have decided that you no longer want to pay.  Rather than cancelling the policy, you can ask the insurance company for what is known as a reduced paid up policy.  The resulting policy is one that is smaller than the original policy but one that you no longer have to pay premiums to keep in effect.  When your goal is to recover your premiums, like cash back life insurance, we can structure the policy so that the reduced paid up face value is equal to the premiums that you have paid.

In Summary – Cash Back Life Insurance in Vancouver, Canada Is Not Available.

Cash back life insurance is generally not available in Canada but we can structure what is available to achieve your cash back life insurance goals.


Contact us at Venture First Advisory and we’ll help you get the term life insurance that best suits you and your family’s needs. We’re the experts in helping you get the best insurance policy for with your best interests in mind.

Get a quote or book an appointment with us today.

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