Permanent Life Insurance

Permanent Life Insurance provides just that, coverage for your entire lifetime. This type of insurance offers the peace of mind that your premiums will never increase and in the event of your passing, your beneficiaries are guaranteed to receive a tax free benefit.

Whole Life Insurance


Whole life insurance, also called participating life insurance, is a form of permanent life insurance with a tax-advantaged cash value component. In addition, these policies have the potential for earning the policy owner dividends. Participating life insurance doesn’t require hands-on management by the policy owner. Instead, the insurance provider manages the assets backing the cash values and death benefit. Depending on your plan the cost of the coverage is spread out over the lifetime of the policy or over a limited time period such as 10, 20 years or till age 65. Some features of whole life insurance are:

  • Guaranteed premiums that remain level throughout the life of the policy
  • Participating Whole Life Insurance policies earn dividends from the insurance company. This type of policy is usually more expensive than Non-Participating Whole Life Insurance.
  • Guaranteed cash value – unlike Term Life Insurance, some of the money you pay in premiums accumulates as guaranteed cash value. If you surrender the policy, this cash value would be available to you. In addition with some policies you are able to borrow against the cash value, but any amount that you haven’t repaid when you pass away reduces the death benefit.

We at Polar bear create a plan that is tailored to suit your budget, lifestyle and needs at every stage of life – offering the flexibility to make changes as your needs evolve. Explore our range of insurance options that can help give you the security and freedom you need to live the life you want.

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