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Choosing Universal Life Insurance in Nova Scotia

How Universal Life Insurance Works in Nova Scotia

With Nova Scotia 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 Nova Scotia Universal Life Insurance

The primary features of universal life insurance in Nova Scotia 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 Nova Scotia 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 Nova Scotia

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 Nova Scotia 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

img Advocate Harbour, NS img Arichat, NS img Baddeck, NS img Amherst, NS img Boisdale, NS img Annapolis Royal, NS img Blandford, NS img Brookfield, NS img Bridgetown, NS img Boularderie, NS img Bass River, NS img Canning, NS img Berwick, NS img Bear River, NS img Cheverie, NS img Bridgewater, NS img Antigonish, NS img Argyle, NS img Canso, NS img Clark`s Harbour, NS img Dartmouth, NS img Debert, NS img Collingwood Corner, NS img Aylesford, NS img Caribou, NS img Cheticamp, NS img Chester, NS img Digby, NS img Dingwall, NS img Dundee, NS img Chelsea, NS img Ecum Secum, NS img Gabarus, NS img Glace Bay, NS img Greenwood, NS img Grand Etang, NS img Freeport, NS img Eskasoni, NS img Grand Lake, NS img Elmsdale, NS img Carleton, NS img Great Village, NS img Grand Narrows, NS img Clarksville, NS img Halifax, NS img Goldboro, NS img Hantsport, NS img Ingonish, NS img Hubbards, NS img East Bay, NS img Guysborough, NS img Inverness, NS img Hopewell, NS img Heatherton, NS img Kentville, NS img Lake Charlotte, NS img Ketch Harbour, NS img Lockeport, NS img Kingston, NS img Lawrencetown, NS img Lunenburg, NS img Liverpool, NS img Mabou, NS img L`Ardoise, NS img Kennetcook, NS img Mahone Bay, NS img Middleton, NS img Melrose, NS img Margaree Forks, NS img Merigomish, NS img Maitland, NS img Goshen, NS img Marion Bridge, NS img Monastery, NS img Meteghan, NS img LaHave, NS img Mulgrave, NS img Louisdale, NS img New Glasgow, NS img New Germany, NS img Musquodoboit Harbour, NS img Parrsboro, NS img Pictou, NS img Port Bickerton, NS img New Waterford, NS img New Ross, NS img Peggy`s Cove, NS img North Sydney, NS img Port Hawkesbury, NS img Oxford, NS img Maccan, NS img Port Dufferin, NS img Mount Uniacke, NS img Queensport, NS img Port Greville, NS img Port Hood, NS img Port Maitland, NS img Pubnico, NS img River Hebert, NS img Port La Tour, NS img Port Morien, NS img Riverport, NS img Saulnierville, NS img Port Mouton, NS img Pugwash, NS img Salt Springs, NS img Southampton, NS img Shubenacadie, NS img Shelburne, NS img River John, NS img Springfield, NS img Springhill, NS img Sherbrooke, NS img St. Margaret Village, NS img Kenzieville, NS img Tangier, NS img Truro, NS img Stellarton, NS img St. Peter`s, NS img Tatamagouche, NS img Thorburn, NS img Stewiacke, NS img Sydney, NS img Upper Musquodoboit, NS img Weymouth, NS img Wallace, NS img Wedgeport, NS img Upper Stewiacke, NS img Tusket, NS img Wolfville, NS img Trenton, NS img Yarmouth, NS img Whycocomagh, NS img Windsor, NS img Waverley, NS img Larrys River, NS img Noel, NS img Walton, NS img French Village, NS img Louisbourg, NS img Westville, NS

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