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Let's talk about... universal life insurance (UL)

ivari offers universal life insurance plans that provide valuable and flexible coverage with a wide range of investment options, a choice of death benefit options, riders, optional benefits and many other features you and your advisor can use to customize your plan to your specific needs.

Is universal life insurance right for you?

If you are looking for insurance that provides lifetime protection, then a universal life insurance policy from ivari may be just what you need. By combining protection with savings, our UL plan offers something for today…and for tomorrow.

Universal life insurance from ivari includes a saving component as well as a death benefit. This saving component allows for tax-deferred investment growth that can be used in many ways while you are still alive such as supplementing retirement income or helping to cover the costs associated with a disability.*(1)

Upon your death, your beneficiary will receive a tax-free death benefit. This money can be used to help secure the future of your loved ones or to help pay any taxes or final expenses.

What can you do with your universal life insurance plan?

The question really should be, what can’t you do with your UL plan! Because it has a built-in saving component, a UL policy gives you tax efficiencies while letting you:

  • Build assets for your children
  • Help protect your mortgage
  • Enhance your retirement income
  • Help protect your retirement savings in case of an occupational disability or one caused by 26 critical illnesses, including the need for long-term care†(2)


How much insurance you need?

This used to be a tricky question that required a lot of charts and graphs and endless questions. But not anymore. Now there’s LifeScripter® from ivari. Your advisor can help you access LifeScripter. By using LifeScripter, you will easily understand what type of insurance is best for you, as well as how much you need and when you need it.

Additional no-cost benefits from ivari

Living Benefits

Living Benefits provide tax-free‡(3) and surrender charge-free access to your fund value upon disability§(4). This benefit covers disabilities caused by a disease or an injury and those caused by a comprehensive list of 26 critical conditions, including the need for long-term care.

Please note that withdrawals from your policy for Living Benefits will reduce the death benefit(s) and the total fund value. In the early years of the policy, as the fund value may not have significantly accumulated, the available Living Benefits may not be sufficient to cover your disability needs. When speaking with your advisor about your current and future needs, you may want to discuss the potential for additional disability insurance or critical illness insurance to cover shorter-term needs.

Compassionate Assistance Program (CAP)

Offered at no extra cost, the Compassionate Assistance Program from ivari provides you with the option of taking out a loan against your death benefit if you are diagnosed with a terminal illness or terminal injury and your life expectancy is less than 24 months.||(5)


Riders let you customize your universal life policy with extra coverage options so you have a plan that is tailored to what you need most. Some riders are available on select plans only. Your advisor can help you decide which riders are right for you.

*(1) For information on what qualifies as a disability and for the determination of the benefit amount available to you, please refer to the contract provisions. Disabilities caused by pre-existing conditions do not qualify. back

†(2) Restrictions and impacts may apply depending on the type of transaction. Refer to the provisions in the contract for more details. back

‡(3) Under the Income Tax Act (Canada) and at the date of publication of this website, the receipt of Living Benefits is not currently taxable. ivari does not guarantee nor is it responsible for the tax treatment applicable to this policy feature. Please consult your legal or tax advisor for an opinion on this matter in relation to your particular circumstances. back

§(4) For information on what qualifies as a disability and for the determination of the benefit amount available to you, please refer to the contract provisions. Disabilities caused by back

||(5) Twelve months or less if you are between the ages of 72 and 77 with a term policy. back

#(6) Expert Medical Opinion Services is a non-contractual benefit and is subject to program availability. Services are provided solely by Advance Medical, Inc. ivari shall have no liability or responsibility for such services. Expert Medical Opinion and other trademarks shown are trademarks of Advance Medical, Inc. used under license. back

® LifeScripter is a registered trademark of ivari Canada ULC.