Assumption Life

Who is Assumption Life

Assumption Life was founded in 1903 by a group of people dedicated to the cause of life insurance. The company started with a small number of clients and slowly built its reputation by offering quality insurance products. Over the years, Assumption Life has evolved to become a leading life insurance company in Canada.

The company was founded on the principles of mutual insurance, which means that profits are reinvested back into the company for the benefit of the clients. This has allowed Assumption Life to grow and thrive, even during challenging economic times.

Assumption Life products

Each life insurance product has its own advantages and disadvantages, and the choice of product depends on the individual needs and goals of each person.

Assumption Life offers a range of products to meet various needs, whether it's short-term protection, lifetime protection, or a potential for cash value accumulation.

Term Life Insurance

Assumption Life's term life insurance is a flexible and affordable solution for those who need short-term coverage.

It offers protection for a specified period (10, 15, 20, 25, 30 years or up to the age of 80), with the possibility of converting the policy into permanent life insurance without proof of good health.

The premiums are fixed for the duration of the chosen term and the coverage varies from $50,000 to $4 million.

Permanent Life Insurance

Assumption Life's permanent life insurance offers lifetime protection with fixed premiums. It is available in two forms: whole life insurance and universal life insurance. Whole life insurance offers lifetime coverage with lifetime guaranteed premiums, while universal life insurance offers flexibility in terms of premiums and coverage, as well as a potential for cash value accumulation.

Participating Life Insurance

Assumption Life's participating life insurance is a form of permanent life insurance that offers a share in the company's profits. It offers lifetime protection, guaranteed premiums, and the possibility of accumulating cash value. Holders of participating policies can receive dividends, which can be used to purchase additional insurance, reduce future premiums, or be received as cash.

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