Whole Life Insurance Canada Explained | Life Insurance Canada

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Whole Life Insurance Canada Explained | Life Insurance Canada

Today’s video is really for the people who are looking into life insurance.
Should I go for whole life insurance?
I heard that they are the cheapest form of life insurance,
anything other than that seems extra,
more like giving extra profit to the insurance companies.
Or if I search the word whole insurance,
my mind was blown by how diversify the comments are?

What’s worse is many of them are not even correct
but they think they know the whole picture.
What should we do then?

The good, the bad, and the ugly the whole life Insurance in Canada
I want to give you all the pros and cons of whole life insurance.
I will also give you the average price of whole life insurance based on the big 4 insurance companies in Canada
And lastly, I will put an action plan so you know if whole life insurance can cover all your needs!

Enjoy!
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In the past 10 years, Thomas C Chan been focus on helping Canadians to develop for their financial success, with advice about investments and insurance, such as life insurance, critical illness insurance, and disability insurance.

Whether you want to know more about tax saving, retirement planning, or financial growth, Thomas can bring clarity on your retirement, wealth, and insurance. He understands the life stages and challenges that people are going through.

In Canada, you have many options for savings and investment vehicles, such as the RRSP and TFSA. To figure out how to take advantage of your options, Thomas can help you figure out what best suits YOUR financial needs. If you are interested in learning about how money works, and how to work with money, check out his videos!

[ThomasCChan]

What's your take on whole life insurance
Comment below!
■ 💰Want to have a chat with Thomas about your insurance plan?

[lameGrapeify]

This is an amazing video! Very informative, super easy to understand and animated!! I just arrive in Canada and am looking for insurance and I found them really overwhelming! Keep it up!

[Azel]

1) The guaranteed 5% return, is that net of fees?
2) What happens to the cash value of I die?
3) What's the interest for borrowing on the cash value?

[yanienam]

Leaving a comment. I want to know more about the infinite banking and corportate wealth transfer strategy !

[shabanahasan]

Hi Thomas
Can you make the video on IFA strategy for business owners?
I like your videos so much!
Very informative 👍

[harshitvadaliya]

Hi Thomas, all the videos are so helpful.
If possible can you please make a video on how corporate taxes works in canada
Thank you!

[JEnriqueVentura]

I got approached by my investment institution to offer me a life insurance. I’m 27 and think it might be a good idea to take it. I have my meeting with them tomorrow.

[oliviern.]

What the difference between infinity banking and whole life insurance then !!?

[anandlobo]

Hi Thomas
Great video.. Is Whole life insurance a good tool for RRSP Meltdown.. I currently pay 30% at source on RRSP withdrawal.. was wondering if I could borrow back from the cash value & write off the interest

[wendygokool]

Hi Thomas can you provide more information for business owners. Additionally do you think it’s wise to open a whole life insurance for mr grandkids? Thanks

[blueocean]

Hi Thomas, My question might sound silly but I will ask it anyway, Can I pay upfront let's say 60k - 100k to speed up this to get to somewhat more cash flow and dividend? And which is best Whole or Universal LI

[vpintea]

Hi Thomas, Can you help setup Whole Life Insurance policies or refer to someone who can?

[paulbrungardt]

Whole Life Insurance is Fantastic--For the sleazy salesman who sells it to you! The first years of increase in worth, goes to the sleazeball who sold it to you--Buy term insurance and invest the difference in no load mutual funds.

[marievrantsis]

Hi Thomas. Thanks for the video. I have a friend trying to sell me whole life for my 4 year old instead of an resp. Whole Life won’t give me enough return in 14 years to help my son. When I ask what I’ll be charged to take out my non guaranteed cash value amount he said it’s only 2-3% and it will just decrease his death benefit. What are your thoughts?

[AlphaProject]

What is the best Canadian insurance company for infinite banking

[iceeblaze]

Interested in infinite banking strategy for Canada !

[markf.]

Need to mention that about 80% of whole life policy holders end up surrendering their policies before they die. So much for the guarantee! At least the salesmen got their commissions up front.