Jayson Lowe explains that you can fund a whole life insurance policy with a lump sum in Canada, but it's usually spread over two to four years rather than paid all at once. A recently launched product makes this approach more sustainable long-term.
Can I do a lump sum? Sort of. We can work with lump sums. It's just a matter how we do it. Usually, like, say, when someone sells a property or they have something that's happened, they have had a large chunk event. What we do is we structure it to go into a policy, or maybe a group of policies over a couple of years, maybe it's two years, maybe it's three, maybe it's four. And we set it up so that it's a sustainable model. And it's not something that is insustatable where you have to make huge deposits all the time. So there's some. There's some strategy around that, but it is very common and it can be done. There's actually a new product that's recently launched that enhances your ability to maybe do that down in long term, which is kind of cool.
