Universal life insurance in Canada is typically considered "worth it" only for a very specific demographic of high-net-worth individuals, business owners, or those with maximized registered accounts (RRSPs and TFSAs) who require permanent estate liquidity or tax-sheltered corporate wealth accumulation. For the average Canadian household seeking simple income protection for dependents, lower-cost term life insurance combined with separate disciplined investing is generally a much more cost-effective strategy.
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