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Whole Life Insurance for Seniors

Posted on March 19, 2012 and updated March 21, 2012 in AXA Insurance, Desjardins Financial Security, Insurance Types, Life Insurance Canada News, Permanent Insurance, Wawanesa Life Insurance Company Whole life insurance comes in two types of plan varieties.

Firstly, there is participating Whole Life Insurance, which offers guaranteed premiums, lifetime protections, and both a guaranteed and non-guaranteed cash value.

The non-guaranteed cash value comes in the form of a dividend and is related to the insurance company’s profitability as well as long-term interest rates. Non-participating whole life insurance policies offer fixed premiums, lifetime protection, and guaranteed values.

Non-Participating Insurance policies are generally fully guaranteed and do not produce a policy dividend.

In general, whole life insurance rates can vary significantly from one carrier to another. The following is pricing for $100,000 of a Non-Participating, 20-Pay Whole Life policy for a 65-year-old, male non-smoker. The policy is fully paid-up after 20 years. (Rates are accurate as of March 2012.)

1. Foresters Life: $323.19 a month

2. Western Life: $367 56 a month

3. AXA Insurance: $370 44 a month

4. Desjardins Insurance: $373 68 a month

5. Wawanesa Life Insurance Company: $376 29 a month

For more details on whole life insurance policies in Canada, please contact us at 1-866-899-4849 or visit our Whole Life Insurance Quote Page.

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