Whole Life Insurance Policy

Are you looking for affordable and lifelong protection from a life insurance policy? Stop right there. Get the peace of mind you deserve at an affordable price by comparing whole life insurance rates with one of our registered brokers.

Guide to Purchasing a Whole Life Policy with JBF Financial

  • Give us a brief introduction.

To get started, please fill out our request form with as much data as possible; your life insurance policy will be tailored specifically to you.

  • Consult a broker of insurance policies.

A broker will contact you to assist you in narrowing down your options from among more than 20 leading service providers.

  • Complete your choice of insurance now.

A medical examination or doctor’s note may be required. Don’t worry; you’ll be helped every step of the way.

What is whole life insurance?

If you maintain timely premium payments, the best whole life insurance policy will cover you for the rest of your life. Therefore, your loved ones will be compensated monetarily by the insurance company upon your passing. Whole life insurance rates are higher than term insurance premiums because of the policy’s near-certain payout. In addition to the payment, you could benefit from the policy’s ability to build financial value.

Some consider whole life insurance the “gold standard” of permanent life insurance policies in Canada. These policies do not lapse, making them a good choice for those who wish to continue receiving life insurance protection into their golden years.

Learn more about whole life policies with us below and then compare your personalized life insurance quotes when you’re ready to decide if whole life insurance is the correct choice for you.

Whole Life Insurance Coverage Benefits:

Here are three benefits of selecting a whole life policy, in addition to the fact that it covers you for the whole of your life. Whole life insurance stands out from other policies due to a number of significant characteristics.

  • Maintaining Premiums

In whole life insurance, the premiums are guaranteed to be the same for the term of the policy. Because term life insurance premiums rise with each policy renewal, whole life insurance rates are often more up-front but cheaper later in life.

  • Capital Expenditures

In addition to providing financial protection, both whole life and universal life insurance also provide tax-deferred savings and investment growth. An insurer’s discretion governs the investment portion of whole life insurance, although policyholders should expect a stable return.

  • Cash Value

The cash value, or cash surrender value (CSV), of a permanent life insurance policy, rises in proportion to the policyholder’s length of coverage. This sum is set aside in case you ever wish to surrender your policy or take out a loan against it in order to cash in the CSV. If you surrender your policy in order to collect this sum, you may have to pay taxes on the whole payment or at least a significant portion of it. Be cautious about understanding your policy before making any significant choices since there may be additional implications, such as refunding the borrowed money back into your insurance within a defined period.