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PACE™ Universal Life


PACE - Make your dreams come true!

PACE Universal Life insurance offers:

  • Innovative, tax-smart coverage that lets you save and invest in a tax-sheltered environment while maximizing returns (like a RRSP or a TFSA)
  • A platform of customized coverages you can count on your whole life long
  • Coverage options designed to meet your needs

Is this coverage right for you?

PACE Universal Life is right for you if:

  • You're looking for a flexible insurance product
  • You want to combine several types of coverage in a single policy
  • You've maxed out your RRSP and TFSA
  • You want to save in a tax-sheltered environment

Features

  • Use a portion of your tax-sheltered savings to pay for your coverages
  • Invest your accumulation fund in the investment options of your choice
  • Add health coverages or supplementary benefits for even greater security

Life insurance options

Choose from a unique array of life insurance options to cover funeral expenses and maintain your loved ones' quality of life in the event of your death. These options also make it possible to:

  • Access a tax-sheltered financial instrument
  • Pay your premiums with the accumulation fund in the investment options
  • Receive benefits under your insurance policy without having to pay any taxes when you die
  • Withdraw your accumulated funds in the event of your death

Health insurance options

The health options are there for you in the event of illness or disability. They can be used to:

  • Replace income
  • Access quality healthcare
  • Pay off debts

Savings and investment options

With PACE, you can accumulate savings and let them grow in a tax-sheltered environment.

How can I get this insurance?

Talk to a Desjardins Financial Security independent advisor with SFL Partner of Desjardins Financial Security who will assess your financial needs today and help you ensure your financial security.

Call 1-866-838-7553 or fill out the online form

FAQ

  • How much does it cost?
    • Premiums are calculated based on:
      • Your age
      • Your sex
      • Whether you're a smoker or non-smoker
      • The amount of insurance and the type of coverage you choose

      The cost varies from one person to the next. Your financial advisor is the best person to help you assess your financial needs and calculate how much your insurance will cost.

  • Am I eligible?
    • If you're a Canadian resident and you meet the insurability criteria, you're eligible! We determine whether you're insurable based on how old you are, how much insurance you want to take out, your lifestyle, and your family and medical history.
  • How much insurance should I take out?
    • The amount of insurance you should take out depends on your needs. Your financial advisor can assess your financial needs so you'll know exactly how much insurance is right for you.
  • Which investment option is right for me? What kind of returns can I expect?
    • PACE offers a number of investment options, which is a real bonus if you want to save and invest in a tax-sheltered environment. Your financial advisor can help you decide how to invest based on your investor profile.

      Your returns will depend on the investment option you choose.

  • Can I access my PACE savings?
    • You can use the money in your PACE Financial Planning Platform whenever and however you want (subject to certain conditions). It can be used as collateral for a loan, for example.

      In the event of a disability due to a critical illness or a loss of independence, the Disability Annuity Payout (DAP) allows you to access your accumulated fund, with no tax impact.
  • If my needs change, can I make changes to my policy?
    • Yes, you can. Your PACE coverage can be adjusted to meet your new needs. Your financial advisor can help you decide what adjustments need to be made, while making sure you still have the coverage you'red.

This text is for information purposes only. Refer to your policy for all conditions, exclusions and restrictions.

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