1-888-978-6522

    Lifetime Protection and
    Lasting Peace of Mind

    Permanent life insurance provides lifelong coverage, guaranteed benefits, and the confidence that your loved ones will be financially protected-no matter what the future holds.

    Multi-generational Sikh family on sofa

    What is Permanent Life Insurance?

    Permanent life insurance is designed to last your entire lifetime, not just a set term. As long as premiums are paid, your coverage never expires.

    • Lifelong Coverage: Stays in force for your whole life (not just 10, 20, or 30 years).
    • Guaranteed Benefit: Pays a tax-free lump sum to your beneficiaries when you pass away.
    • Cash Value Growth: Most permanent policies build cash value over time, which you can borrow against or withdraw (subject to policy terms).
    • Fixed Premiums: Your premiums typically stay the same for life, making budgeting easier.
    • Flexible Options: Choose from whole life, universal life, or other permanent policy types to match your needs.

    Permanent Life Insurance

    Compare Rates

    Types of Permanent Life Insurance

    Whole Life Insurance with guaranteed premiums, cash value, and death benefit
    Whole Life Insurance

    Guaranteed premiums, guaranteed cash value, and guaranteed death benefit.

    Read More
    Universal Life Insurance with flexible premiums and potential investment growth
    Universal Life Insurance

    Lifetime protection with flexible premiums and the potential for investment growth within the policy.

    Read More
    Participating Policies with potential dividends to increase coverage or reduce premiums
    Participating Policies

    Some policies may pay dividends (not guaranteed), which can be used to increase coverage or reduce premiums.

    Read More

    Who Should Consider Permanent Life Insurance?

    Permanent life insurance is ideal for:

    • Anyone wanting lifelong financial protection for loved ones
    • People looking to leave a legacy or cover final expenses
    • Those with long-term dependents (children with disabilities, etc.)
    • Individuals seeking tax-advantaged savings and estate planning tools

    Key Benefits

    • Lifetime peace of mind for your family
    • Tax-free death benefit
    • Potential for cash value accumulation
    • Estate planning and legacy creation
    • No need to re-qualify for coverage as you age

    How Does Permanent Life Insurance Compare to Term Life?

    • Term Life: Affordable, temporary protection for a set period (e.g., 10 or 20 years).
    • Permanent Life: More expensive, but never expires and can build cash value.

    Why Choose Punjab Insurance?

    Trusted by Canadian families since 2006
    Trusted by families across Canada since 2006
    Experienced, licensed insurance advisors guiding clients
    Experienced, licensed advisors who guide you through every step
    Personalized insurance plans tailored to individual needs
    Personalized plans tailored to your needs, budget, and goals
    Access to top Canadian insurance companies
    Access to top Canadian insurance companies and a wide range of permanent life products
    Transparent advice and outstanding service before and after purchase
    Transparent advice and outstanding service-before and after you buy
    Multilingual support for diverse Canadian communities
    Multilingual support and deep understanding of diverse communities

    FREQUENTLY ASKED QUESTIONS

    Frequently Asked Questions about
    Permanent Life Insurance

    What's the difference between whole life and universal life insurance?
    Whole life offers guaranteed premiums, cash value, and death benefit. Universal life is more flexible, allowing you to adjust premiums and invest the policy's cash value.
    Can I access the cash value in my permanent life insurance policy?
    Yes, you can borrow against or withdraw from your cash value (subject to policy terms). Keep in mind, this may reduce your death benefit.
    Is permanent life insurance more expensive than term life?
    Yes, but it provides lifelong coverage and can build cash value, while term life is temporary and generally has no cash value.
    Who receives the death benefit?
    The tax-free lump sum goes to the beneficiaries you name in your policy.
    Can I convert my term life policy into permanent life insurance?
    Many term policies offer a conversion option. Ask your Punjab Insurance advisor for details.
    Do I need a medical exam to get permanent life insurance?
    Some policies require a medical exam, but there are non-medical options available. Your advisor can help you choose the right one.
    View all Faq's

    GOOGLE REVIEWS

    Why Families & Businesses Choose Punjab Insurance

    View all Google Reviews
    Safeguard your family's tomorrow with reliable life insurance. Enjoy strong protection at affordable costs, providing lasting financial support for loved ones when you're not around. Confidence today builds security for generations ahead.
    Disclaimer: Information on this page is for general guidance only and not a substitute for professional advice. Please consult a licensed Punjab Insurance advisor for personalized recommendations.