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Common questions
- Life Insurance can protect your family from any financial crisis
- You leave a completely tax-free inheritance to your dear ones or beneficiaries
- Life Insurance can pay for your funeral expenses
- You can clear your debts and loans with Life Insurance
Industrial Alliance Universal Life Insurance
When you’re looking for a flexible financial tool that provides your loved ones with complete financial protection while adapting to your family, personal and work situation, a Universal Life Insurance policy would be a clear solution. With two essential components of financial planning, life insurance and tax-preferred savings, Universal Life Insurance can be your answer for your financial needs.
- Adjustable :With a Universal Life Insurance policy comes the option of making flexible premium payments. You can choose to pay the excess premiums resulting in accumulated savings that you use for your financial goals.
- Secure :In the unfortunate event if the policyholder passes away, the beneficiaries will immediately get the inheritance and the death benefits.
- Diversified :You will be getting an extensive range of investment options that can help you diversify your tax-free savings portfolio.
Coverage for all your Financial Requirements:
Defining Genesis
Genesis is one of our widely popular insurance policies that can meet your permanent life insurance needs as well as your savings needs.
It’s a customizable product that enables you to save and maximize your estate without any taxes. You will also benefit from insuring your mortgage, having easy access to your liquid assets that can be our retirement income, protecting the value of your business, and managing a new project.
How does Genesis Work?
A part of your donation will be used to pay for insurance and taxes. Your excess premium will be invested as part of your insurance policy’s investment component.
The Coverage
Genesis ensures you for the rest of your life and allows you can choose the cost, death benefit, face amount, and premium. Overall, this is the most significant way to protect your family and business from any financial disaster that may occur as a result of your death.
An apt Savings Vehicle
The savings component of this policy is invested and generates income that would accumulate tax-free. The iA financial group offers a large pool of investment accounts that can meet your requirements. In addition, you will also get the benefits of an investment bonus of 0.75% starting the first year for all the index accounts.
Extra Information for your Knowledge
Criteria
| Costs of insurance(guaranteed) | Age at issue |
|---|---|
| YRT, level | 0 to 85 |
| Level with 10-year option | 0 to 80 |
| Level with 15-year option | 0 to 70 |
| Level with 20-year option | 0 to 60 |
Death Benefits
With Genesis, you will get three options in Death benefits:
- Face amount only
- Face amount + Fund
- Face amount + Fund with wealth maximizer option
Below is a Brief on each of the Benefits:
- Face amount only:People who want to save money on their insurance policy should only choose the face amount. Because the savings portion is a part of the face amount, the face amount remains constant during the policy's term. It's worth remembering that this type of death benefit is only available for YRT insurance payments.
- Face amount + Fund:Perfect for anyone who wants both the benefits of insurance coverage and a tax-free savings fund. The face amount increases over time and will accumulate in the policy's savings portion paid to your beneficiary. All Genesis cost of insurance choices includes this sort of payout.
- The Face amount + fund with wealth maximizer option:offers the same benefits as the face amount + fund option, but it is more suited to those who want to get the most out of their insurance coverage.The death benefit can take maximum advantage of the tax-free status of a Universal Life Insurance scheme while keeping the costs of the insurance policy at a lower side. (the option is available with YRT insurance costs only)
A Comprehensive Fange of Investment Options
The savings portion of your insurance policy, like any other financial investment, is carefully invested in accounts that match your investor profile:
The iA financial group offers several beneficial investment options, this includes
Below is a Brief on each of the Benefits:
- Fixed-term accounts that can be for anywhere between 1-5 years and 10 years
- 5-year average account
Get the best Insurance Quote from iA Insurance
Call 1 844-542-4678 to speak to our advisors.
Index Accounts
Market Index Accounts
- Bonds
- Money market
- Global equities
- Canadian equities
- US equities
- European equities
- International equities
- US equities/ DAQ
- Global Allocation Account
Active Management Accounts
- Diversified (iA)
- Canadian Bonds (iA)
- Global diversified (Loomis Sayles)
- Strategic Equity Income (iA)
- Dividend Growth (iA)
- Canadian Equity (Fidelity)
- Global Equity (iA)
- Global Equity (QV)
- Global Diversified Account (iA) (refer to the table below for allocation)
- International Equity (iA)
- European Equity (iA)
- Global Health Care (Renaissance)
- US Dividend Growth (iA)
- Canadian Small Cap. Equity (Fidelity)
- Global Dividend (Dynamic)
- Targeted Canadian Equity (iA)
- NorthStar TM (Fidelity)
- Canadian Equity (iA)
Equibuild
In our growing portfolio of insurance products, Equibuild is another popular one that has been designed with you and your family’s financial security in mind. It offersincreased coverage and a guarantee in the event of your (the policyholders) death. Also, Equibuild Bonus adds to your death benefits, and you will have the option to increase the face amount or your savings under the policy.
You also get the advantage of cash surrender values that start accumulating the first month and can be used towards a payments holiday, and the choice is yours. You’ll be happy to learn that there are no policy fees or surrender costs when you pay your yearly premium.
The Comparison between our Universal Life Insurance products
| Genesis | EquiBuild | |
|---|---|---|
| Level cost | ||
| Quick payment option | 10, 15 or 20 payments | 15 payments |
| Annual renewable term | — | |
| Paid-up insurance | — | |
| Various investment options | ||
| Bonus | Investment Bonus | Equi Build Bonus |
| Guaranteed cash surrender value | Quick payment option only | |
| Type of death benefit | Face amount only | Face amount + fund |
| Tax-free death benefit |
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Get the best Insurance Quote from iA Insurance
Call 1 844-542-4678 to speak to our advisors.