Facts & Information Page:
Union of Canada Life Insurance - Canada

Canadian Money Advisor Rank

Product Names

Product Name


Union of Canada Life 10, 15, 20-Year Terms

Union of Canada Participating Whole Life

Union of Canada Ultra-Life Insurance

COMPANY CONTACT INFORMATION:

Union of Canada Life Insurance
325 Dalhousie Street P.O Box 717
Ottawa, ON K1P 5P8
Website:http://www.ucav.ca

Customer Service Phone: 613-241-3660
Customer Service Fax:613-241-7880
COMPANY INFORMATION AND BIOGRAPHY:

Union of Canada Life Insurance was founded in 1863. It is one of the oldest insurance companies in Canada. They grant life and accident insurance, mortgage and investment products. Currently, the company is operating in the province of Ontario, Québec, New Brunswick and Prince-Edward Island.

For individual life insurance, there are some products to choose from. Participating or non-participating policies offered having exclusive benefits as well as features. Their accident insurance provides full coverage in case of an accident at reasonable rates, from 15 days up to 100 years.

For those in the market for a mortgage, Union of Canada may have the best solution with their variety of mortgage products. It can short or long-term, variable amortization periods and flexible payment options.

For investors, Union of Canada provides Uniflex and Uniflex Plus savings vehicles for one to five-year periods having easy, compound or every day interest rates. Their retirement savings products are obtainable for individuals and groups.

Product Name Product Description
Union of Canada Life 10, 15, 20-Year Terms The Participating Whole Life offers a lifetime protection having accumulated dividends. This plan protects the insured until death. The amount of insurance is level and guaranteed for given that the policy remains in force. This plan grants participating Whole Life with paid-up cash values and dividends. Under certain conditions, surrender values may be utilized to pay up the policy and dividends to acquire additional paid-up insurance.

The premiums are level and guaranteed for as long as the policy remains in force. The insurance will be given to individuals having an age of 0-70. The minimum amount would be at $25,000. The surrender values and paid up insurance you have acquired have cash surrender values guaranteed. Aside from that, it has no policy fees that will be charges on you.

As soon as the policy gets cash value, the policyholder may be subjected to the terms and conditions contained in the policy. They can then select one of the following options which are receiving a cash value in the form of final cash settlement that was shown in the policy. In addition, any dividends not yet paid off or still on deposit. You can opt in obtaining a loan in which the value of which will not exceed the cash value, under the conditions set out in the policy. And the last option is getting a paid-up policy payable at death. The amount of insurance which may be acquired in cash by the cash values is as stated in the policy.
Union of Canada Participating Whole Life The Participating Whole Life offers a lifetime protection having accumulated dividends. This plan protects the insured until death. The amount of insurance is level and guaranteed for given that the policy remains in force. This plan grants participating Whole Life with paid-up cash values and dividends. Under certain conditions, surrender values may be utilized to pay up the policy and dividends to acquire additional paid-up insurance.

The premiums are level and guaranteed for as long as the policy remains in force. The insurance will be given to individuals having an age of 0-70. The minimum amount would be at $25,000. The surrender values and paid up insurance you have acquired have cash surrender values guaranteed. Aside from that, it has no policy fees that will be charges on you.

As soon as the policy gets cash value, the policyholder may be subjected to the terms and conditions contained in the policy. They can then select one of the following options which are receiving a cash value in the form of final cash settlement that was shown in the policy. In addition, any dividends not yet paid off or still on deposit. You can opt in obtaining a loan in which the value of which will not exceed the cash value, under the conditions set out in the policy. And the last option is getting a paid-up policy payable at death. The amount of insurance which may be acquired in cash by the cash values is as stated in the policy.
Union of Canada Ultra-Life Insurance With Union of Canada Ultra-Life Insurance, it is a low premium whole life plan with paid up option having minimum of 50% after 15 years in force combined with the age of 55 or 65 depending on the plan chosen. This plan protects the insured until death. The amount of insurance is level and guaranteed for as long as the policy remains in force. This is a no-cash value Whole Life plan with paid-up values under certain conditions which are described below. The premiums are level and guaranteed for as long as the policy is in force. It is offered to individuals having the age of 18-70. The minimum amount is at $25,000. There is no policy fee for this type of insurance.

At the client’s request, or if a premium remains not paid at the end of the period indicated, after the policy has been in force for at least 15 years and the insured is 65 years of age for Ultra Life. The policy will be paid-up for reduced amount, with no further premium payments needed. The reduced amount of insurance based on the age of the insured when the policy is paid-up, and is payable upon the death of the insured, under the same terms and conditions. The Joint Rider which insures the lives of two other 2 insurers or The Multiple Rider which insures the lives of several insurers together for the same amount, payable upon the first death of one of the insurers.