Coverage maintained for life, with or without cash value depending on the contract. More expensive than term, it answers different needs. Describe your situation; a representative registered with the AMF calls you back and compares the options.
What permanent coverage is for
It answers needs that do not fade with time: funeral costs, tax at death on a cottage or a portfolio, passing on a business, a gift to an organization. The need is not a period; it is a certain event.
Whole life and universal life: two logics
Whole life offers guaranteed premiums and coverage, managed by the insurer. Universal life separates protection from investment and leaves you choices, and therefore risks. They are not two versions of the same product.
Cash value
Some contracts accumulate a value accessible during your lifetime, by withdrawal, advance, or surrender. Each access has tax consequences and generally reduces the amount paid at death. A representative explains the mechanism before you count on it.
Tax at death, plainly
Quebec has no estate duties, but a deemed disposition of assets can generate significant tax. Permanent coverage sometimes exists precisely to supply the liquidity needed to avoid selling an asset.
Why no price is shown here
A premium depends on age, health, coverage amount, and contract type. A figure shown without those would be misleading, and CompareTaux produces no automated recommendation.
What happens after you submit
Your request goes only to the authorized life and health insurance team. A representative calls you back. Do not enter medical or detailed financial information in the public form.
Frequently asked questions
Permanent or term: which should I choose?
It depends on the need, not the product. A time-limited need often calls for term; a certain need, for permanent. A representative reviews your situation before comparing anything.
Can I get the money back during my lifetime?
Only if the contract provides a cash value, and with tax consequences and a reduction in the insured amount. It is not a savings account.
Can premiums increase?
It depends on the contract. Some whole life policies have guaranteed premiums; other contracts, notably universal, let the cost of insurance vary. That is a clause to check before signing.
Should I declare medical information here?
No, and you must not. The public form requests no medical information.
Am I obliged to accept an option?
No. You are under no obligation. The request prepares a conversation, not a contract.