Different Types of Life Insurance offered by Unity Life of Canada

Term Life Insurance

The essential features of Term Life Insurance are that it is an inexpensive life insurance option. The premiums are lower than compared to permanent insurance. Premiums are usually level and are assured that it will not increase for a set term which is typically 5, 10, 20 years. When you have reached the expiration date of the set term, the coverage is renewable for another term but the premium will be increased. The Term Life Insurance does not have cash value and no benefit payout when you cancel your application. A lot of term insurance policies would take in a conversion alternative that permits all or part of the coverage to be changed to permanent insurance without additional evidence of insurability.

Permanent Life Insurance

Permanent Life Insurance provides stability and long-term financial comfort, whether for estate preservation, business planning or retirement purposes. Permanent Life Insurance is made with the idea of earning cash value. Cash value is the sum of money paid off to the policyholder if the policy ends or surrendered. Given that the policy stays in force, the cash value builds up every year and is added to the death benefit. It is a real asset with real value that can aid in protecting you and your family for a lifetime.

Universal Life Insurance

Universal Life Insurance certificate permits you to check on the different insurance and investment choices, all within the framework of a single life insurance certificate. Universal Life features would comprise a flexibility to tailor the plan to your necessary needs. You can select the premium, how you allocate the premium, the amount and kind of death benefit, and the rate of the insurance. With your investments, it can grow on a tax-sheltered basis within your insurance contract. The value of the savings portion and the death benefit will matter on the options you put together.

Unity Life of Canada website: http://www.unitylife.ca

Unity Canada has a lot of life insurance products to offer. One of the product it has is the Unity Term Life Insurance. This term life insurance is not expensive given that it can give you lots of benefits. Their are 3 options to choose from. You opt for a 5, 10, 20 year term life insurance.

Another product is Unity Permanent Life Insurance which can secure your protection and budgetary needs. Aside from that, you can earn cash value once your policy ends.

There are more products coming from Unity Life of Canada. You can check it out by going to this link: http://www.canadian-money-advisor.ca/dir/11/unity-life-of-canada.html