Life Insurance


Life Insurance

Life insurance is a financial product that is used to help protect and build wealth, it can help give loved ones or businesses financial security by allowing a tax-free payment after death. The amount and type of coverage you choose will depend on your circumstances and needs.

Term Insurance

Term life insurance is affordable, easy-to-understand coverage that gives you flexible protection. It is often used to cover your larger liabilities, that don’t last for a lifelong time period (ie. Mortgage, Creditor Protection, Income Replacement etc.).

Your insurance costs remain the same for a specific period of time (10, 20, 30 years), until it renews for another term. If you pass away while the policy is in effect, a tax-free payment will go to the person or people you name beneficiaries. There’s many different beneficiaries and options that you or your business could name and with most term policies, you can also convert your coverage to permanent insurance regardless of any changes to your health, occupation, or lifestyle.
Most term policies are inexpensive at the start. However, the premiums can increase on renewal, and, in most instances, the policy will expire before the client’s life expectancy.

Permanent Insurance

Permanent life insurance is often called whole life insurance because it covers you for your whole life. However, there are many forms of permanent insurance, and they can all be utilized for different situations. Permanent insurance gives beneficiaries a tax-free payment when the insured passes away. Some plans can build cash value over time, grow tax-deferred and allow you to decide between different investment options. Permanent insurance costs are usually guaranteed not to increase from the time you first purchase the policy. There are permanent insurance products that also allow you to pay for the policy in shortened time and not have to worry about paying premiums further along in life.

Term to 100 Insurance

“Term to 100” is a permanent policy that allows for level insurance rates through the client’s lifetime. Term to 100 policies guarantee that if premiums are paid, the policy will pay a death benefit at the client’s death.

Permanent Whole Life Insurance

Whole life policies offer a guaranteed level premium and guaranteed cash values that are based on conservative assumptions for mortality, expense projections and investment returns. When any of these components experience better than anticipated performance, excess funds are returned to the policyholder in the form of dividends. Because the components of whole life are not specifically defined in the policy, the level of declared dividends is not based on a disclosed formula. In a whole life policy, the dividends paid can be used in several ways, including the purchase of paid-up additions, permanent coverage that increases the total face amount of the policy and has a cash surrender value.

Permanent Universal Life Insurance

Universal life insurance policies offer level rates and minimum lifetime premiums, as well as the flexibility to deposit funds more than the minimum premium. These additional funds can be deposited into a selection of fixed rate and equity style investments available inside the policy and any growth on these investments is not subject to taxation unless withdrawn. The growth can be used to pay future mortality charges, creating a very efficient method of funding the insurance coverage.

Permanent Hybrid Life Insurance

Like universal life, a hybrid life insurance policy offers level costs of insurance, lifetime minimum premiums, and the flexibility to deposit and use excess funds in tax-deferred investment accounts, including a smoothed investment account. Like whole life, a hybrid policy offers guaranteed cash values, and returns excess earnings to the policyholders in the form of a bonus. The bonus is based on a guaranteed formula linked to the gross return of the smoothed investment account. Hybrid also provides policyholders with the ability to purchase paid up additions. With hybrid however, there are two ways to purchase this additional guaranteed paid-up coverage: with the bonus, and with a portion of the additional deposits made to the policy.

Needs Analysis

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  • Life Insurance Needs Analysis

    Immediate Expenses


RR Dobel Insurance Agency

11 – 150 Creek Bend Road
Winnipeg, MB R2N 0J1
phone: (204) 452-3900