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Individual Life Insurance

Universal Life


Affordable, Permanent and Flexible Coverage 

CUMIS Universal Life insurance is a unique permanent insurance plan that combines the protection of life insurance with the benefits of tax-advantaged investing, covering you for your entire lifetime. It is also one of the most flexible life insurance plans available, since it can grow and adapt with you throughout your life. You may customize your coverage to get the protection you need now, and make changes as your needs change.

Whether you want to protect your family or preserve your estate, you will have peace of mind knowing you have the financial security you need, while maximizing your wealth accumulation. Enhance your financial security with an affordable life insurance plan that can fit your needs today – and tomorrow.
CUMIS Universal Life provides you with a tax-sheltered investment and insurance vehicle that is designed to help you accumulate wealth and protect all of the things that are important to you – your family, business and estate.

There are many benefits to buying CUMIS Universal Life, here are just a few of them:


CUMIS Universal Life insurance can enhance your financial security throughout your lifetime. Unlike term insurance, it provides permanent protection. So it can help protect the most important people in your life. It can also provide the opportunity for tax-advantaged savings with a range of investment options that meet your specific financial goals. That means it not only protects your family, it can also help you maximize your wealth accumulation and enhance your retirement income beyond your RRSPs and company pension plans. By planning ahead, you can significantly reduce the impact of a future tax liability, and ensure your family receives their inheritance the way you intended.


You can decide how much life insurance you require right now, then add extra coverage to fit temporary needs such as income replacement and debt protection due to a critical illness or disability. Over the years, you can adjust the death benefit and premium payments as your needs change and evolve, from protecting your income to preserving your estate.
In addition, universal life insurance provides you with access to the accumulated cash value. When your tax-sheltered investment fund has accumulated sufficient cash value, you can withdraw cash from it, borrow against it or borrow money using the cash value of the policy as collateral for a bank loan.


Since you determine your amount of coverage and premium payment, you can create a plan that fits your individual needs and budget. You can also choose from a variety of payment options, including monthly pay plans, and build cash value in your account to help cover the cost of premium payment if necessary.


Buying life insurance can seem overwhelming, but CUMIS Universal Life makes the purchase decision easier. It includes a variety of benefits that suit most families. You can get all the coverage you need in one complete package, making it easy to buy and manage.

The CUMIS Universal Life insurance product is aimed at specific markets:

Family Suite

The CUMIS Universal Life – Family Suite is targeted to the family market. A family can take many forms, including newlyweds, young families and single parents. Typically, these consumers, ages 30 to 45, own a home and are looking for permanent insurance protection at an affordable cost.

Estate Suite

The CUMIS Universal Life – Estate Suite is designed for those individuals who are close to or already retired and are becoming concerned about preserving their estate for their loved ones without creating a tax liability. These consumers are usually age 55 and older.

Wealth Suite

The CUMIS Universal Life – Wealth Suite is suited to high-income earners from ages 30 to 59 who, because of their incomes, have maximized their RRSP contributions and probably have invested in other ways as well. CUMIS Universal Life is another option for providing this group with tax sheltered investment growth now, and wealth preservation for later in life.

Business Suite

The CUMIS Universal Life – Business Suite will accommodate business owners whose needs are similar to those individuals targeted by the Wealth Suite. However, instead of investing money in RRSPs, this group is putting money back into their business, which will be their retirement fund. This suite provides tax sheltered investment growth and permanent protection. It is also suitable for individuals with specific business situations such as buy/sell arrangements.


  • Coverage amounts range from $25,000 to $10 million
  • CUMIS Universal Life may be purchased up to age 80
  • Guaranteed cost of insurance rates
  • Risk charges stop at age 106 and coverage remains permanent
  • Preferred rates are available to those who qualify

Disability Lump Sum Benefit

Should you become totally disabled, you can request to be paid an amount from the Cash Surrender Value of your policy. Essentially, drawing on your death benefit at this critical time when you need it.

Guaranteed Loyalty Bonus

To recognize the value of your loyalty, CUMIS Universal Life provides guaranteed bonus amounts based on policy size and policy duration. Helping you grow your account value faster and achieve your wealth accumulation goals.

Customizable Investment Options

You can choose from a variety of interest options to maximize the cash value of your policy. CUMIS Universal Life Suites include a range of investment options to ensure you meet the desired level of risk or security to suit your personal situation.

You may customize your plan by adding the following optional riders and other benefits:

  • Versatile Term™ Riders
  • Child Rider
  • Disability Insurance Rider
  • Critical Assist® ​Rider
  • Guaranteed Insurability Option
  • Accidental Death Benefit
  • Total Disability Waiver of Charges
  • Premium Protection Option
  • Wealth Maximizer Option

Contact Us

For more information on our products, or to obtain a quotation, contact CUMIS TeleLife:
Monday to Friday, 8 a.m. to 8 p.m. (Eastern Standard Time)