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Choosing Universal Life Insurance in Alberta

How Universal Life Insurance Works in Alberta

With Alberta universal life insurance, you get to choose when you pay your premium payment and how much you pay (according to federal tax law limitations). There is a minimum premium that is determined by premium taxes, the base cost of the policy, and the expenses of the insurance company. The sales expenses and premium taxes will be deducted as you make your payments. The rest of the premium goes towards your cash value. That cash value earns interest as stated in your policy. You will also earn more interest when the company earns more than your guaranteed rate. You are able to take out loans or withdraw from your cash value.

Primary Features of Alberta Universal Life Insurance

The primary features of universal life insurance in Alberta include the tax-deferred cash value growth, fixed interest rate, tax-free death benefits, permanent life-long insurance protection, access to cash value, and flexibility in adjusting your death benefit and premium payments.

Comparing Your Options

It's a good idea to compare your Alberta life insurance options before choosing universal life insurance. Other options include term life insurance and whole life insurance. When you call 888-304-7775, our Universal Life Insurance Pros customer service representatives can help you to compare the options one-on-one.

Just call Universal Life Insurance Pros today at 888-304-7775 to get your free life insurance quotes right away!

Universal Life Insurance in Alberta

Universal Life Insurance vs. Term Life Insurance

Term life insurance is less expensive than universal life insurance. However, it is not a permanent policy as universal life insurance is. Term life insurance is designed to cover you for a specific term rather than for your whole life. It does not accumulate cash value, and your coverage ends at the end of the term.

Universal Life Insurance vs. Whole Life Insurance

Whole life insurance is more expensive than universal life insurance. It is another life-long coverage policy with tax-deferred cash value that allows for loans and withdrawals. This form of life insurance also comes with more guarantees than universal life insurance, but it is not flexible. You won't be able to increase or decrease your premium and your interest on cash value will be less than with universal life insurance. You do get guaranteed interest rates, death benefits, and premium payments.

How do You Choose?

When it comes to choosing which Alberta life insurance policy is best for your needs, it helps to speak with one of our Universal Life Insurance Pros customer service representatives. You can discuss your goals, budget, and the advantages and disadvantages of each policy as it relates to you. If your budget is too small for universal life insurance, then term life insurance can act as a temporary solution to your insurance needs. If you prefer the guarantees and zero surprise nature of whole life insurance, and if you can afford to pay more, then this might be your best option. However, if you want more flexibility in a life-long policy with cash value access, then universal life insurance is likely your best bet.


Cities we serve

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AB img Fort McMurray, AB img Lomond, AB img Lodgepole, AB img Legal, AB img Longview, AB img Langdon, AB img Lamont, AB img Lougheed, AB img La Crete, AB img Edmonton, AB img Magrath, AB img Manyberries, AB img Ma-Me-O Beach, AB img Manning, AB img Mannville, AB img Marlboro, AB img McLennan, AB img Millet, AB img Lake Louise, AB img Mayerthorpe, AB img Minburn, AB img High River, AB img Marwayne, AB img Milk River, AB img Meander River, AB img Nampa, AB img Milo, AB img Mirror, AB img Innisfail, AB img Morley, AB img Mulhurst, AB img New Sarepta, AB img Mundare, AB img New Dayton, AB img Hinton, AB img New Norway, AB img Namao, AB img Nanton, AB img Niton Junction, AB img Onoway, AB img Nordegg, AB img Lacombe, AB img Nobleford, AB img Newbrook, AB img Peers, AB img Oyen, AB img Morrin, AB img Paradise Valley, AB img Peerless Lake, AB img Penhold, AB img Morinville, AB img Radway, AB img Pincher Creek, AB img Fort Saskatchewan, AB img Plamondon, AB img Leduc, AB img Redcliff, AB img Nisku, AB img Provost, AB img Rockyford, AB img Rimbey, AB img Ralston, AB img Raymond, AB img Redwater, AB img Rainbow Lake, AB img Rumsey, AB img Rochester, AB img Robb, AB img Ryley, AB img Rolling Hills, AB img Sangudo, AB img Grande Prairie, AB img Peace River, AB img Rycroft, AB img Ponoka, AB img Rosebud, AB img Schuler, AB img Saskatchewan River Crossing, AB img Slave Lake, AB img Seven Persons, AB img Seba Beach, AB img Sedgewick, AB img Rocky Mountain House, AB img Smith, AB img Silver Valley, AB img Sibbald, AB img Sexsmith, AB img Spirit River, AB img Olds, AB img Smoky Lake, AB img Stand Off, AB img St. Michael, AB img Spruce View, AB img Standard, AB img Medicine Hat, AB img Stettler, AB img St. Paul, AB img Swan Hills, AB img Stavely, AB img Strome, AB img Sundre, AB img Thorsby, AB img Rosalind, AB img Torrington, AB img Tomahawk, AB img Trout Lake, AB img Three Hills, AB img Red Deer, AB img Thorhild, AB img Okotoks, AB img Tilley, AB img Vauxhall, AB img Turner 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