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Universal Life

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, rather than a pre-determined period as with term insurance. 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, Estate, Wealth and Business

Family Suite

The CUMIS Universal Life – CUMIS amily 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 is made possible by a Business Guaranteed Insurability Option Rider, which may be used to purchase additional individual permanent policies as the value of the business increases. 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 $5 million
  • CUMIS Universal Life may be purchased up to age 80 (on an age at last birthday basis)
  • Guaranteed cost of insurance rates
  • 30 day ’free look‘ period
  • Preferred rates are available to those who qualify
Other unique features and options:
  • Three Increasing Insurance Options - Indexed, Return of Premium and Adjusted Cost Basis (only available as part of the Business Suite)
  • Premium Protection Option
  • Guaranteed Loyalty Bonuses – Valued Client Bonus and Account Value Bonus
  • Investment options - including five custom-designed portfolios and 14 other investment choices, including seven Index Linked Accounts
  • Wealth Maximizer Option

You may customize your plan by adding the following Optional Riders:

  • CUMIS Universal Life Child Rider
  • CUMIS Term 10 Rider
  • CUMIS Term 20 Rider
  • CUMIS Critical Care Rider
  • Term Disability Waiver of Premium Benefit
  • Total Disability Waiver of Charges
  • Owner’s Death Waiver of Charges (offered on Juvenile Universal Life coverage only)
  • Owner’s Death or Disability Waiver of Charges (offered on Juvenile Universal Life coverage only)
  • Accidental Death Benefit Rider
  • Guaranteed Insurability Option
  • Business Guaranteed Insurability Option (offered only to Business Owners)

To obtain a quotation on a CUMIS product, please contact:


CUMIS TeleLife at 1-800-263-9120 or email us at

Monday to Friday, 8 a.m. to 8 p.m. (Eastern Time).