universal life insurance

Universal Life Insurance in Nova Scotia

Insurance As Adaptable As You Are

Universal life insurance policies provide flexible protection and let you choose your investments and payment schedule.

What Is Universal Life Insurance?

It is guaranteed, lifelong protection that lets you invest and build your wealth. Also, it is one of the most flexible and affordable products available that protects you for life.

There are two parts to a universal life insurance policy: insurance and investment. You choose your investments and wealth can accumulate tax-free, within limits set by the government. You can withdraw or borrow from your policy, with certain tax implications. You can also choose who to leave your money to – a beneficiary.

Flexible universal life insurance


Adjust the amount you pay.

Power to choose

Power To Choose

You decide where to invest your money.

Build wealth

Build Wealth

Achieve your goals by paying your premiums.

How Does Universal Life Insurance Work?

With universal life insurance, you pay a premium to your insurance company for your coverage. Once you have covered the insurance costs, the rest of your money goes towards investments of your choice. You can access this money in your account whenever you like, as long as there is enough left to cover your insurance costs. You also choose a beneficiary who will receive the money from your insurance coverage when you pass.

How does universal life insurance work?

How Much Does Universal Life Insurance Cost?

This type of insurance can be more expensive than term and universal life insurance because of the policy’s guarantees. Several variables determine the cost of your policy, here are a few of the main factors:

Generally, the younger you are the cheaper your insurance will be.

Your family history, medical history, and lifestyle can increase your premiums.

If you have a dangerous job, your insurance costs may be higher.

Is Universal Life Insurance Right For You?

  • Lifetime coverage. Coverage is for life and cannot be cancelled or changed.
  • Flexibility. Choose how much to pay into your policy and how you want to pay your premiums.
  • Grow your wealth. Create a portfolio that is right for you with a range of investments.
  • Access to your money. Use the cash value you have accumulated in your policy to supplement your income in retirement or during a time of illness.

Participating vs. Universal Life Insurance

Participating Life Insurance

  • Guaranteed money growth inside your policy
  • Conservative asset management
  • Policyowner dividends

Universal Life Insurance

  • Cost effective
  • Payment flexibility
  • Choose investment options

Common Features

  • Lifetime insurance coverage
  • Guaranteed premium options
  • Guaranteed payout

Ready To Apply?

Online Form

Online form

Fill out an online form and one of our licensed advisors will reach out.

Give Us A Call

Give us a call

Call a Cluett life insurance licensed advisor today to get started.

(902) 466-5328


Please contact our office to speak with a representative at 1-866-466-9660