Whole Life Insurance

Whole Life Insurance in Nova Scotia

Life Is Precious, Protect It

With whole life insurance, you can help protect your loved ones while achieving important goals in your life. With whole life insurance you get a combination of lifelong coverage and tax-advantage savings to help protect your family and assets for the long-term.

Why Whole Life Insurance Could Be Right For You

Whole life insurance can be ideal if you are looking for a way to maximize the amount you leave to your loved ones.

Cash value guarantees

Cash Value Guarantees

Whole life insurance can be ideal if you are looking for a way to maximize the amount you leave to your loved ones.

Estate planning

Estate Planning

Protect your assets you have worked hard for and pass them on to future generations.

Lifetime coverage

Lifetime Coverage

With whole life insurance, you have permanent coverage for life. This means your protection does not end after a certain period.

Potential for dividends

Potential for Dividends

A portion of your premiums are invested and the earnings in this account may be paid out to you as dividends.

What Are The Different Types Of Whole Life Insurance?

Both participating and universal life offer lifetime coverage and the opportunity for tax-free cash growth, but they’re structured differently.

Participating Life Insurance

  • Guaranteed cash values
  • Guaranteed insurance payout
  • May pay a yearly dividend
  • Premiums stay the same

Universal Life Insurance

  • Guaranteed cash values on some policies
  • Choose your investment options
  • Generally less expensive than participating life insurance
  • Flexibility in premium payments

Understanding How Cash Value Builds In A Whole Life Insurance Policy

Cash value builds up in your whole life insurance policy by splitting your premium into three portions: death benefit, insurer costs and profits, and cash value. The life insurance company generally invests the allotted cash value. As you continue to pay your premium, your cash value grows and you earn more interest.

Once you have begun accumulating cash value, you can use this money to:

  • Pay your policy premium
  • Create an investment portfolio that accumulates wealth
  • Supplement retirement income

Benefits of Whole Life Insurance

  • Security for life. Coverage is for life and cannot be cancelled.
  • Tax-free benefit. Your beneficiary of estate receives the death benefit tax-free.
  • Dividend options. Choose from flexible options for receiving dividends.
  • Access your money. Use the cash value you have accumulated in your policy as needed.
  • Single or joint coverage. Choose coverage for yourself or for yourself and your spouse and/or other family members.

Ready To Apply?

Ready to get a home insurance quote? Here’s the information you’ll need:

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