Universal Life Insurance is a flexible form of a permanent policy. It acts as a bank account with investments that the insurance company withdraws minimum monthly premiums from, in order to pay for the cost of insurance. There is an investment portion to the account which allows you to over-fund your insurance policy. The over-funding and interest earned on the money deposited is paid out on top of your death benefits tax free.
RBC Universal Life Insurance Plan offers a wide range of investment options, a choice of death benefits, optional benefits and riders, flexible ways to pay your premiums, and innovative ways to access the value you accumulate over the life of your plan. Should you die within your chosen term your family receives the death benefit tax free.
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