Help You to Invest for Secure Future
Parent plan offered by MILIFE offers benefits of two plans; this plan acts as insurance and also acts as income after retirement. The earlier you start investing, the more benefit you can reap from the plan. MILIFE Parent Plan uses the concept of compounding to grow your wealth. Life insurance is one of the best options for addressing any urgent financial need like old debts, loans, credit card bills, down payment etc
MILIFE Parent Plan is an Insured Retirement Program that helps you accumulate tax-deferred funds in the present and give you access to use them in future without paying any taxes. The policy you purchase from MILIFE today can become your source of funding or retirement fund in future in the form of a loan that you take by keeping this policy as collateral.
MILIFE Parent plan also known as Universal Life Insurance plan offer benefits like:
- In case of your sudden demise, the insurance will provide coverage for any outstanding loan or mortgage.
- You will get regular income after retirement i.e, from age of 66 till you are 80 year old.
- The plan also provides the benefit of cash value if you face any financial emergency or require funds.
- The day you purchase the policy, you will start getting benefits of life insurance policy.
3 Key Features of MILIFE Parent Plan
1. Provide Benefits of a Life Insurance Policy:Provide coverage for a life-time and in case of death a lump sum amount will be given to the beneficiary. Apart from that the plan also allows you to earn cash benefits.
2. Accumulate Savings:The Canadian Government allows tax-exemption on the basis of the amount accumulated in the policy. There is a maximum limit to the amount you can hold in the policy. The tax on the accumulated amount will not be considered while calculating taxes.
3. Can Act as Collateral:The amount accumulated in your insurance policy can be considered as a valuable asset. It is possible to take a loan from any Canadian bank by keeping your policy as collateral. You might get a tax deductible benefit on interest you have to pay if your policy fulfills certain conditions. The loan you get can be used as per your financial need.
To make the most out of the policy it is necessary that you take guidance from MILIFE insurance experts. Our experts will help in maximizing policy benefits for you. We make sure that the plan you purchase suits your requirement, financial condition and helps you meet future financial goals. All the terms and conditions will be explained by our insurance agent regarding how this policy works and what all benefits you will get.