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Permanent or Whole life insurance can provide lifelong protection needed for the risk that does not have an expiry date. The premiums for the Whole life insurance typically remain the same over the lifetime of the life insured.

The Policyholder may have different premium paying options such as:

  • Single premium payment

  • Limited payment premium

  • Lifelong premium payment

We can classify these Whole life policies as non-participating and Participating policies. The dividends paid or accumulated in participating policies may increase the policy's fund value or death risk coverage.
The whole life policy may have a non-forfeiture benefit that becomes possible due to the buildup of cash surrender value (CSV). These policies can be used to raise a loan against the CSV, thus helping in financial emergencies.

Why Do You Need A Whole Life Plan?

  • The premiums are guaranteed for life.

  • You remain covered for life, irrespective of any change in your health or age.

  • The Automatic Premium Loan (APL) will keep your policy in force in any missed premium payment event.

  • Because you may raise a policy loan against the CSV of the policy.

  • Because the time of death is uncertain, and you want to ensure leaving a legacy for your loved ones.

  • You want a provision for your funeral cost.

The most popular Whole life products available are Term-100, Permanent Life, Participating Policies, and Universal Life.


This insurance policy covers the insured for the client's whole lifetime, but the premiums are paid till age 100.
Thus, it means no premiums are to be paid beyond age 100.
These policies have no cash surrender value; hence no loan is payable against its CSV.
The premiums remain level for the policy's entire length, or the client can purchase a limited payment plan.
The Limited payment policies generally can have a cash surrender value as a higher premium is paid for a limited number of years.
At the end of the payment period, the policy becomes a paid-up policy.
Limited pay-100 policies may also offer Automatic Premium Loan (APL), which could prevent the policy from lapsing if the Policyholder misses any premium payment.

Permanent Life:

Permanent or Whole policy can be further classified into Non-Participating or Participating plans. This classification depends upon how the Company handles any surplus that may accumulate in these policies. These surpluses may accrue if the Company's experience is better than expectations for their expected claim payments, return on investments, or lesser administrative expenses.

Participating Policies:

This policy provides risk coverage for the whole life. If you are looking for permanent life insurance coverage to generate access to liquidity and ensure your estate's long-term growth, the Participating whole life policies can be a good option.
These policies have the opportunity to earn dividends. Premiums are credited to participating policyholders through a "participating account."
Dividends are not guaranteed and may be affected by various experience factors. Participating policies are grouped based on factors such as type of plan and date of purchase. The experience of each group determines the dividends be allocated within the group. Dividends may vary upward or downward from those illustrated, depending on several variables. Dividends may even offer tax-shelter benefits depending on the option you choose.
The Participating Policies gives the option to use the accumulated dividends as:
Cash: Under this option, the insurance company will pay policy dividends in cash to the Policyholder through a cheque or direct deposit. Cash dividends are normally paid annually. The Policyholder can use or invest this money in the way they choose; however, there could be tax consequences.
Premium Reduction: This option, when chosen, may help to reduce the premiums for the coming year. However, the coverage amount will remain unchanged.
Paid-up Additions: This is the most liked option to be chosen for Participating policies. In this option, the annual dividend is used as a single premium to buy additional whole life coverage that is paid-up.
Paid-up additions give you a great way to increase the risk coverage, irrespective of any change in health or becoming unqualified for any new insurance. The increase in coverage will depend upon the size of the dividend and the client's attained age at the time of purchase of additional coverage.
Accumulation: The dividend generated under the policy is invested in a separate investment account. While the dividend may or may not be taxable, but the income earned on the investments will be taxable to the Policyholder.

Universal Life Policies:

Universal Life policies are considered the most flexible type of life insurance policies as the Policyholder can modify the plan in different ways. Unlike Term or other Permanent plans, Universal Life policies are more transparent in terms of mortality or expenses. These policies can be customized, both at the time of purchase or during the period of coverage. This flexibility can be:
  • The amount and timing of premium payment: You can increase, decrease, or even suspend paying the premium as long the accumulated policy fund can support mortality and expenses deductions.

  • Coverage amount: You can increase or reduce the face/coverage amount subject to the minimums and maximums allowed under the policy.

  • Life/lives covered: Single, Joint, Joint first-to-die or Joint-last-to die option.

  • Investment Flexibility: You can choose to invest in GICs, money market accounts, index fund investments, or even segregated funds.

  • Loan: The policy allows you to take a loan against the cash value that the policy has accumulated. No Needles No Medicals Insurance

At, we provide our services to hard-to-insure people and those who need fast-life insurance coverage without Medicals. We specialize in Non-Medical life Insurance, Non-Medical Permanent Insurance and Non-Medical Critical Illness Insurance.
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