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Hope you are well and enjoying the final days of summer. 

I am writing to let you know that Manulife announced a major premium increase (of up to 50% on certain policies) for permanent level cost (universal) life insurance effective Sept 23rd, just weeks from now.  Other carriers will surely follow. 

Considering the draconian tax law changes now under review by the government, permanent life insurance will become even more important as the most cost-effective way to pay higher taxes. 

This matter deserves your immediate attention, especially if you have a rated policy due to existing health issues or have become uninsurable since taking out your existing term policy. 

Your term insurance started off at a reasonable cost, but premiums will continue to rise sharply at each renewal and the policy will become cost-prohibitive and eventually expire. 

In contrast to term insurance, permanent life insurance is an asset, not an expense. 

This is your opportunity to acquire permanent life insurance at a very reasonable cost, before the rates jump. 

Instead of paying for a permanent insurance policy from your cash flow, which you may perceive as a “grudge” purchase, consider transferring some of the taxable assets you already have (stocks, bonds, fixed income) into a tax-exempt insurance asset.  

The rates are guaranteed level forever and the policy death benefit will not be effected by market or interest rates. 

All applications and conversions received at Manulife’s head office by Sept 22nd will have premiums grandfathered with current low rates. 

Our team of advisors is available across Canada to help you. 

Please be in touch as soon possible for more information and a discussion of additional strategies to preserve your hard-earned money. 

We look forward to helping you and your family. 

Mark 

P.S. Permanent rates will never be this low again.  Canada and Japan are the only countries in the world with level guaranteed rates and it’s only a matter of time until this type of insurance coverage will no longer be available in Canada