What is the Difference Whole Life VS Universal Life (Canada)

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❗Online Life Insurance Recommendation and Instant Quote❗

In this video, I explain the key differences between whole life and universal life. I also explain the pros and cons to each one and do my best to describe which product could be right for you. Whole life insurance is more guaranteed but slightly more expensive. Universal life insurance is much more flexible and CAN be less expensive, however, it's much more complicated and more things can go wrong.

Timestamps:

0:00-2:07 Introduction
2:07-2:23 Affinity Life
2:23-6:12 Whole Life Insurance
6:12-12:04 Universal Life Insurance
12:04-12:39 Bloopers

❗Online Life Insurance Recommendation and Instant Quote❗

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🟦About Affinity Life🟦
Affinity Life is an online life insurance platform dedicated to busy Canadians. We believe you shouldn’t have to run through a sales gauntlet to obtain life insurance to protect your family. We’re setting out to finally revolutionize and innovate in an industry that hasn’t significantly changed in the last 100 years. We hope you can join us on our journey. Founded in 2020 and headquartered in Calgary, AB, Affinity Life is 100% founder-owned.

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Thank you so much, you are a great teacher, you took a complicated information and simplified it.

angieoduho
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I disagree with your comments about the client being left in the dark when their advisor does not engage in managing the investments or if they leave the industry. The funds that the client's funds are a placed in are managed by professional, experienced investment managers and do that at all times without any advisor involvement. Most advisors are not licensed to do fund investment management. They may have a role in choosing the funds to invest in but the fund results are based on the professional fund managers.

lavernrankin
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If UL is more work for the advisor, is this worth it? I mean, this extra work for the advisor to follow up annually, it turns into more commission?

KikoDittert