Whole Life Insurance Vancouver

 In whole life insurance

If you live in Vancouver and are looking for whole life insurance, the chances are that your intention of the policy is to create an asset that will help with a real estate purchase or other investment in the future.

Whole Life Insurance in Vancouver Explained

While stock market returns can be lucrative in some years, these investments do come at a higher risk than a whole life policy.  It is also not easy to obtain a line of credit secured to a stock portfolio due to the volatile nature of the investment vehicle.

Real Estate is another popular investment for many Vancouver residents but the barrier to entry is high.  A whole life policy, in contrast, can be tailored to your budget but also offer similar tax sheltered growth and access to equity as real estate.

When you need access to your cash, you can do so by securing a line of credit to your cash value.  In this way, your money is still invested and growing but you are now using your money a second time by borrowing it back to use for a second purpose, such as investing.  Also, if death occurs during this accumulation phase, your family is well protected by a large tax free death benefit.

Whole Life Insurance Policies

There are also lending products that allow you to borrow back 100% of your premiums as you pay into the whole life policy.  For example, you could redirect a certain amount of money for fixed expenses to create a whole life insurance asset, then turn around and borrow back 100% of the life insurance premiums to pay for those same expenses.  This, in effect, creates complete and immediate liquidity, however, it is not a strategy that is suitable for everyone.

If you life in Vancouver, or anywhere in BC, AB, or ON, speak to one of our Advisors to help select the right whole life product for you.

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