Alberta School Board Employees

Permanent Life Insurance

What does that mean? Well, picture your typical insurance product -- like a Term 10. For 10 years, you pay the insurance company to cover you. At the end of that time, you either let the policy go or keep up (but it goes way up in cost -- 5 times isn't uncommon). Kind of like renting a house. You make use of it while you have it, but at the end, you don't have anything to show for your payments unless you have to claim.

Now, what if you could buy your insurance? What if you could guarantee your rates for your entire life -- or better still, only pay for a short time and then "own" that coverage for life -- just like a mortgage? This is where Permanent Life Insurance comes in.

Permanent Life Insurance offers you the coverage you want for any expenses you have, now and into the future. It gives you this insurance at a guaranteed rate that you pay for life. But by paying more now, in your working years, you can also set it up so that within 20 years you will have it paid off for life!

This can be used for the normal things you'd think of ... mortgage coverage, providing for the family ... but is most powerful when used to reduce or totally eliminate taxes as part of your estate plan!

The Capital Legacy Plan was built to do just this ... provide funding that can go towards a charitable donation. This charitable donation provides a tax receipt that offsets your tax burden -- so that all of your estate can go to your heirs instead of to the government.

Imagine that you could give $100K to charity, do the same for your heirs and eliminate your tax burden entirely? Permanent Insurance gives you the chance to do this!