Permanent Life Insurance

Secure your assets and loved ones with suitable Life Insurance coverage. Our network of top Life Insurance providers in Canada empowers you to find the best rates for permanent life insurance.

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4.8 Stars
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Our Reviews

Excellent4.8 Based on 352 reviews from ★★★★★ Artmiz was very pleasant and efficient to deal with. She was prompt in her replies, and in answering any other questions we had. Her travel insurance pricing was the best that we found,Jean BamfordJean Bamford ★★★★★ Artmiz was totally great!! She is so pleasant, efficient and she gave us the best price and advice!! It was a pleasure to work with her.Ian BamfordIan Bamford ★★★★★ Very good. LovelyDonna KeenanDonna Keenan ★★★★★ Our agent Artmiz was very knowledgeable and answered all of our hypothetical travel scenarios with ease. The premium savings were significant because Allianz offers "top-up" products to those of us who have existing coverage, but need more.catherine onishicatherine onishi ★★★★★ Ummi is always helpful and professional. She has been helping our family for all travel insurance over the past years.MargieMargie ★★★★★ Ummi is courteous and professional. Good job!Rod SetoRod Seto ★★★★★ Artmiz was very pleasant and helpful in providing the coverage needed for my trip.John CliffordJohn Clifford ★★★★★ Nice Dealing And Nice Explanation…Harman BasraHarman Basra ★★★★☆ I want to let everyone know that when you buy your insurance from Alliance, buy it from Dornaz. I have had 2 separate policies through her and can't say enough about her thoroughness, knowledge of the product and her customer service. It was pleasure dealing with her.Nola DyckNola Dyck ★★★★★ Great customer serviceJennifer PhillipsJennifer Phillips ★★★★★ I had a very good experience with Dornaz. She was very helpful and got my policy together quickly. I will certainly recommend her to my friends.Steve StaplesSteve Staples ★★★★☆ Thank you Theresa and Adam for your help with our travel insurance plans, for your timely assistance and the savings you were able to find for us.Yogashiatsuyucatan DonypaolaYogashiatsuyucatan Donypaola ★★★★★ Artmiz Namazi provided excellent service. She was very professional and took the time to explain the insurance coverage and answer all my questions. She is a great asset to your company and I will not hesitate to recommend her to my friends and familyChris DingsdaleChris Dingsdale ★★★★★ Artmiz was very helpful, friendly and informative. She really knows her subject and was ready to help in any way.Carolyn CassellsCarolyn Cassells ★★★★★ Theresa Heuser is professional and competent in the insurance process. A pleasure!Ronald BironRonald Biron ★★★★★ What a pleasure dealing with Ummi, who took all the pain out of purchasing Travel Insurance for my wife and I, who are both 80 year old Seniors. Sensitive and yet enquiring, Ummi guided us through the minefield of questions with the competant ease of an expert. Ummi was responsive to any unintended omissions and made sure there were no loose ends that could disqualify any future claim. We go on Holiday knowing that we have been professionally prepared with cover for Medical emergencies, if they should arise.John DawkinsJohn Dawkins ★★★★★ great service by the phone and email.h mh m ★★★★★ We bought Emergency Medical policy for our coming trip from Ummi Hanny. She was such a good help and responsive to all our questions, either by phone or emails. Such an excellent service, above and beyond our expectations!! Thank you!Jacob SteinbergJacob Steinberg ★★★★★ We booked travel insurance with Ummi Hanny for a river cruise we are taking this summer. She was very professional, responded quickly and efficiently to emails, calls and questions. Would definitely recommend her and Alliance/Allianz.Kathy CastleKathy Castle ★★★★★ It was a pleasure to deal with Artmiz. Very polite and Patient. Nice to deal with someone who knows and enjoys their job.Tom BrailsfordTom Brailsford ★★★★★ I just finished getting a tailored insurance package with the help of Ummi. I really appreciated the attention to detail and how knowlegable she was on the various packages. Ummi was able to get us an annual package for me and my wife that focused on our need for Trip Cancellation/Inturruption and also a single trip comprehensive package for our 3 grandchildren that will be traveling with us on our next trip. It was a pleasent experience. Ummi detailed the options and made recommendation that ensured we had the coverage we needed at the best possible price. This was all done over the phone and email and we received the comple package immediately after the purchase in our email. Thanks UmmiJeff LangJeff Lang ★★★★★ We were helped by Ummi Hanny she is very professional and helpful.Thanks for your understanding,Heinz KriegerHeinz Krieger ★★★★★ Ummi was our Insurance agent helping with getting medical and cancelation policy -she was very professional and knowledgeable and was able to get us a very reasonable insurance rates.Milos RudolfMilos Rudolf ★★★★★ Eric provided policy information, confirmed my personal details to ensure the policy would be correct, processed my payment quickly.Tracy HastingsTracy Hastings ★★★★★ I dealt with Ummi Hanny, oh my she was wonderful! She even laughed at my jokes. What a great first experience.Lise BeaulneLise Beaulne ★★★★★ Ummi. was very helpful and pleasant. Billwilliam rockwilliam rock ★★★★★ Our purchase of Allianz Emergency Medical Insurance through Alliance Income Services Corp was a breeze. Ummi and Mariam was a pleasure to work with. They were both very patient, knowledgeable, and efficient in presenting the various options available to us. Mariam did a lot of leg work comparing several insurance companies just to find a plan that suit our needs. Ummi then completed the processing of the policy effortlessly and made the process seamless. I would highly recommend anyone who needs an insurance coverage to speak to especially this two ladies.Danny ChinDanny Chin ★★★★★ My agent Artmiz was very helpful and provided me with a quote quickly. When I was ready to accept the quote she responded quickly and sent me all the necessary documents just as efficiently. Happy with my interactions.Stephanie RumbleStephanie Rumble ★★★★★ Eric and Bob were both extremely helpful and attentive to my needs.Paul CodyPaul Cody ★★★★★ Teresa was great. Addressed all my concerns.Robert CarterRobert Carter ★★★★★ The service given by Ummi Hanny was excellent- very pleasant, courteous and professional.Simin MeshginnafasSimin Meshginnafas ★★★★★ I had a top notch experience with this insurance broker. Eric Clementi was the person that helped me from the day that I asked for a quote online. He was very thorough with explaining every minor details that might be misunderstood between the client and the provider. Eric is very professional with his tone of voice which makes a potential client feel at ease. Nonetheless, I’ve tried different insurance broker, their monthly fees are way above the average, Alliance income Services Corp has the most decent fee for a family of five… it’s a bang for the buck kind of thing. Truly recommend this company. 👍Mark EngelMark Engel ★★★★★ Eric Clemente and Ryan were excellent to deal with. Both were very helpful , to the point , and curious .Michael BoudreauMichael Boudreau ★★★★★ Excellent service by Eric Clementi and Ryanmargaret burnsmargaret burns ★★★★★ Eric and Adam were very helpful with my travel medical insurance. Now I realize if I have to use this coverage that I will be in great hands.Bonnie SmithBonnie Smith ★★★★★ Hello...Eric was very easy to work with ....very polite....and set up my insurrance policy very quickly....thank you again Eric....Marsha Risser.Marsha RisserMarsha Risser ★★★★★ I ordered insurance for my husband and myself. It was a very easy process and was helped greatly by Eric and Dylan. Both were very diligent with helping me through it all. Very easy and quick.Marilee Van BuskirkMarilee Van Buskirk ★★★★★ It was a pleasure speaking with Eric Clementi. He was polite, understanding and considerate.Mohinder BangaMohinder Banga ★★★★★ I was quite happy to get excellent & friendly customer services from Artmiz - very helpful & knowledgeable!Bruce YeeBruce Yee ★★★★★ Great service from knowledgeable and very helpful people. Thank you Eric Clementi and Ezarie!Beverley HowickBeverley Howick ★★★★★ Eric Clementi is the manYunus PatelYunus Patel ★★★★★ I had to sign up for my own health and dental insurance. The staff at this company were quick to get back to me and provide suggestions on insurance plans. The sign up process was very easy to do over the phone. I communicated with Eric Clementi who was very professional and efficient.Muhammad KoyaMuhammad Koyajs_loader
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Shopping for Permanent Life Insurance? We Can Help!

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Understanding Permanent Life Insurance

Permanent life insurance is essential for Canadians due to its lifelong coverage, cash value accumulation, and tax advantages. Unlike term life insurance, which has a set duration, permanent policies provide protection until the policyholder’s death. Additionally, the cash value component allows tax-deferred growth, offering flexibility and financial resources during one’s lifetime. While initial premiums may be higher, the long-term benefits make permanent life insurance a valuable choice. Consider speaking to an advisor to explore your options further!

Key Benefits

Having a permanent life insurance in Canada offers several key benefits:

Lifelong Coverage:

Unlike term insurance, permanent life insurance provides coverage throughout your entire life. Your beneficiaries are guaranteed a death benefit whenever you pass away, as long as you’ve paid your premiums.

Tax-Free Death Benefit:

The money from the death benefit is tax-free for your loved ones to use as they need.

Cash Value:

Some permanent life insurance plans include a cash value component. This tax-preferred savings portion can grow over time and provide potential borrowing options. Keep in mind that withdrawing funds from the cash value may reduce your policy’s death benefit.

Stable Premiums:

Permanent life insurance premiums typically remain consistent over time, unlike rising term insurance rates.

Different Types of Permanent Life Insurance

In Canada, there are three main types of permanent life insurance:

Whole Life Insurance

This plan provides lifelong coverage without expiration. Your beneficiaries receive a tax-free death benefit when you pass away, as long as you’ve paid your premiums. Whole life insurance also accumulates cash value over time, which you can access or borrow against.

  • Coverage: Whole life insurance provides lifelong coverage. As long as you pay your premiums, your beneficiaries receive a tax-free death benefit when you pass away.
  • Cash Value: Over time, your policy accumulates cash value. This value grows at a guaranteed rate and can be accessed during your lifetime. You can also borrow against it.
  • Premiums: Premiums are typically higher than term life insurance but remain level throughout the policy.
  • Stability: Whole life insurance offers stability and predictability.

Universal Life Insurance

With universal life insurance, you have greater payment flexibility. You can adjust your premiums and death benefit as needed. It also includes an investment component, allowing you to choose from various investment options based on your risk profile.

  • Flexibility: Universal life insurance allows greater flexibility. You can adjust your premiums and death benefit as needed.
  • Investment Component: It includes an investment component where you choose from various investment options. The returns affect your policy’s cash value.
  • Risk and Reward: While it offers potential for higher returns, there’s also more risk due to market fluctuations.
  • Transparency: You can see how your policy’s cash value changes based on investments.

Participating Life Insurance

This type combines lifelong coverage with the opportunity to earn policy dividends. The dividends can be used to increase your cash value or reduce premiums. Participating life insurance offers stability and growth potential.

  • Dividends: Participating life insurance policies participate in the insurer’s profits. You may receive policy dividends.
  • Use of Dividends: Dividends can be used to increase your cash value, reduce premiums, or purchase additional coverage.
  • Steady Growth: It combines lifelong coverage with steady growth potential.
  • Community: Participating policies benefit from the overall performance of the insurer’s portfolio.

Tips for Saving Money on Permanent Life Insurance

At, our goal is to help you maximize your savings. The most efficient way to save on life insurance is by comparing rates from different providers, which can be a time-consuming task. Fortunately, simplifies this process for you. Using our online quote request feature, we thoroughly evaluate rates from major Canadian insurers, ensuring you effortlessly receive the best options. Below are more straightforward ways to save money on getting permanent life insurance:

Compare Rates:

  • Why: Different insurance providers offer varying premiums for the same coverage. By comparing rates, you can find the most cost-effective option.
  • How: Use online tools or work with an insurance broker to obtain quotes from multiple insurers. Look beyond just the premium—consider the policy features, riders, and financial stability of the company.

Choose Term Policies:

  • Why: Term life insurance provides coverage for a specific period (e.g., 10, 20, or 30 years). It’s generally more affordable than permanent life insurance.
  • How: Assess your needs—such as income replacement, mortgage protection, or education expenses—and opt for term coverage accordingly. Avoid overpaying for unnecessary features.

Pay Annually:

  • Why: Many insurers offer discounts if you pay your premiums annually instead of monthly.
  • How: When selecting a policy, choose the annual payment option. This not only saves you money but also simplifies your budgeting.

Adjust Coverage:

  • Why: As your financial responsibilities change (e.g., paying off debts, children becoming financially independent), you may need less coverage.
  • How: Regularly review your policy. If you no longer require the same level of coverage, consider reducing it. Be cautious not to underinsure, though.

Quit Smoking:

  • Why: Smokers typically pay significantly higher premiums due to health risks associated with smoking.
  • How: If you quit smoking, inform your insurer. After a smoke-free period (usually one year), you may qualify for non-smoker rates.

FAQ’s – Permanent Life Insurance

Find even more valuable answers to the most commonly asked questions about permanent life insurance here:

When considering life insurance, it’s essential to assess your unique circumstances. There are two primary categories: Permanent Life Insurance and Term Life Insurance. Permanent policies guarantee a beneficiary payout upon the insured’s passing, provided premiums are consistently paid. In contrast, term policies pay benefits only if the insured passes away within the agreed-upon policy duration. Factors like financial responsibilities, dependents, and long-term goals influence your decision. For personalized guidance, consult a financial professional.

A beneficiary is the person designated to receive the death benefit from your life insurance policy. You, as the policyholder, specify this individual. You can name multiple beneficiaries, distributing the cash value equally or based on predetermined percentages. This flexibility is useful for scenarios like dividing funds among your children. Additionally, consider appointing a contingent beneficiary in case a primary beneficiary predeceases you. You can even choose a charitable organization as a beneficiary.

As a policyholder, you can typically update your life insurance beneficiaries. Whether due to evolving family dynamics, financial responsibilities, or personal preferences, you have the flexibility to name multiple beneficiaries, allocate percentages, and adapt your choices over time.

The price of life insurance varies based on several factors, including age, health, coverage amount, and policy type. Generally, Term Life Insurance is more affordable, providing coverage for a specified period. In contrast, Permanent Life Insurance tends to be costlier due to its lifelong coverage and cash value accumulation. Younger, healthier individuals often secure lower premiums. To determine the cost, consider your financial situation, coverage needs, and long-term goals. Consulting with insurance providers, using online calculators, and seeking quotes can help assess potential expenses related to life insurance.

Life insurance premiums depend on factors like age, health status, coverage amount, and the chosen policy type. Typically, younger and healthier individuals secure lower premiums. Meanwhile, Permanent Life Insurance, which offers lifelong coverage and cash value accumulation, tends to have higher costs.

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4.8 Stars