Universal life insurance (UL)

Universal life insurance from ivari provides affordable protection that can be customized with a wide range of features and options including:

  • Investment options
  • Riders
  • Death Benefit options
  • Flexible coverage

Is universal life insurance right for you?

If you are looking for insurance protection with an investment and savings component then the answer is, yes.

While you are alive

The savings component of a universal life policy allows for tax-deferred investment growth that can be used in many ways while you are still alive, such as adding to your retirement income or helping to cover the costs associated with a disability.*(1)

After you’re gone

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?

With a built-in savings component, a UL policy gives you tax efficiencies while also letting you:

  • Build assets for your children
  • Help protect your mortgage
  • Add to 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 do you really need?

Your insurance needs will change throughout your life. How much do you need now? How about tomorrow?

Find out how much insurance you need, and when you’ll need it, with
My Insurance View from ivari.

Additional no-cost benefits from ivari

Living Benefits

If you are disabled, you can access the fund value of your universal life policy through your Living Benefits. The funds will be given to you tax-free‡(3) and surrender charge-free.§(4). This benefit covers disabilities caused by a disease or an injury, and those caused by a list of 26 critical conditions, including the need for long-term care.

In the early years of your policy, before you’ve had the chance to build the fund value, the amount accumulated may not be enough to cover your disability needs, and you may want to consider adding disability or critical illness coverage to your protection plan.

Accessing your fund value as Living Benefits will reduce the death benefit(s) and the total fund value of your policy.

Compassionate Assistance Program (CAP)

Offered at no extra cost, the CAP from ivari lets you take 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)


The riders shown below will let you customize your UL policy with extra coverage options. Some riders are available on select plans only. Your advisor can help you decide which riders are right for you.

Universal Life Insurance Claims

When it comes time to make a claim, we’re here to help make the process as quick and easy as possible.

The first thing to do is contact us, by phone at 1-800-846-5970 or email at [email protected], with the required information so we can begin the claims process.

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Please refer to the specific type of insurance product you have to ensure that the proper steps are taken and your claim can be processed quickly.

You may also call our toll-free number 1-800-846-5970 or email us at [email protected] if you require any assistance.

*(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 pre-existing conditions do not qualify.  back

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

#(6) Virtual Healthcare by Maple is a non-contractual benefit and is subject to program availability. back