Universal Life Insurance in Quebec
5.0 · 268 Google reviewsAdvisors certified by the AMFAn independent firm in Mascouche
Flexible lifetime protection combined with a tax-sheltered investment account. The tool of choice for high earners. Compare 20+ companies.
- Lifetime protection with built-in investments
- Tax-sheltered growth
- Flexible premiums and coverage
- Ideal once your RRSP and TFSA are maxed out
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Two components in a single policy
Universal life insurance brings protection and growth together under one roof.
The protection
Life insurance coverage that protects your loved ones for your entire life and pays a tax-free benefit at death. The amount can be adjusted as your needs change.
The investment
A tax-sheltered investment account where you choose your strategy from several options. The value grows with no annual tax and remains accessible to you.
How much does universal life insurance cost in 2026?
Minimum monthly cost of insurance, level to age 100, surveyed from the insurers we compare. This is the base premium: anything you deposit on top goes into the investment component, sheltered from tax.
Sample rates: Universal life insurance (level cost of insurance to age 100)
For a non-smoking woman
| Amount / Age | Age 25 | Age 35 | Age 45 | Age 55 | Age 65 |
|---|---|---|---|---|---|
| $100,000 | $42.13 | $64.17 | $87.97 | $138.31 | $240.83 |
| $250,000 | $88.62 | $133.21 | $193.16 | $311.84 | $555.57 |
| $500,000 | $164.67 | $250.92 | $380.11 | $617.48 | $1,104.92 |
| $1,000,000 | $321.33 | $486.00 | $730.83 | $1,198.71 | $2,183.39 |
For a non-smoking man
| Amount / Age | Age 25 | Age 35 | Age 45 | Age 55 | Age 65 |
|---|---|---|---|---|---|
| $100,000 | $48.25 | $71.00 | $96.65 | $149.64 | $266.42 |
| $250,000 | $103.00 | $146.52 | $217.02 | $345.21 | $620.31 |
| $500,000 | $192.17 | $286.84 | $427.82 | $684.21 | $1,234.41 |
| $1,000,000 | $376.33 | $536.86 | $826.34 | $1,318.68 | $2,359.09 |
* Lowest monthly premium among the 6 insurers surveyed through WinQuote on October 30, 2026, for a non-smoker in good health (standard class) living in Quebec. For guidance only: your rate depends on your health, your habits and the insurer chosen. Get your actual rate.
Universal or permanent: which one is right for you?
Universal life is right for you if…
- ✓You have maxed out your RRSP and TFSA
- ✓You want to control your investments
- ✓You value flexible premiums
- ✓You are comfortable with more active monitoring
Permanent life is right for you if…
- →You prefer fixed guarantees
- →You want the insurer to manage everything
- →You want simplicity above all
- →You want a guaranteed legacy with nothing to monitor
How does it work?
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The team behind the service
A small team that serves clients everywhere in Quebec. The person who calls you back works here.
Services financiers Finox inc.: an independent firm
A Quebec financial services firm registered with the Autorité des marchés financiers, based in Mascouche, independent from the insurers. 268 Google reviews, rated 5.0. Your information is used only to prepare your quotes; one person from our team calls you back.
Dany MichaudPartnerAMF no. 243405
Evan Juteau LapierrePartner and senior brokerAMF no. 260856
Étienne LejeuneSenior brokerAMF no. 250008
Alexandre ClémentAssociate advisorAMF no. 250201
Mathis Aubin SavardAdvisorAMF no. 277477
Cédric SénéchalDirector of strategic development and marketing
Kim CôtéProperty and casualty insurance
Zavier BinetteIntern
Émie BélangerAdvisor assistant
Jessica Archambault-LeonaSocial media manager
Questions about universal life insurance
Universal life insurance combines lifetime protection with a tax-sheltered investment account. Part of your premiums pays for the insurance; the rest is invested according to the options you choose. It offers great flexibility on premiums, coverage amount and investment strategy.
Permanent (whole) life insurance offers fixed guarantees and is managed by the insurer. Universal life gives you control: you choose your investments, and you can adjust your premiums and your coverage. In return, performance depends on the investments selected, which calls for more active monitoring.
It mainly suits high-income individuals who have already maxed out their RRSP and TFSA and are looking for additional tax-sheltered growth. It is also widely used by incorporated professionals and business owners for the tax and estate planning of their corporation.
Yes, that is one of the major advantages of universal life. Within certain limits, you can increase your deposits in good years to grow your account, or reduce them in tighter years. This flexibility sets it apart from other types of life insurance.
The value accumulated in a universal life insurance policy grows with no annual tax, within the limits set by law. At death, the benefit is paid to the beneficiaries tax-free. This favourable tax treatment is what makes it a planning tool prized by high earners.
The cost depends on the basic cost of insurance (based on age, health and amount) and on what you choose to add as investments. It can be structured with a minimum deposit for protection alone, or with substantial extra deposits to maximize growth. An advisor helps you set up the optimal strategy.
Guide to universal life insurance in Quebec
Universal life insurance is the most sophisticated product in the life insurance family. It is aimed mainly at people who already have a solid financial foundation and are looking for both permanent protection and a tax-advantaged growth vehicle. Its great strength is its flexibility: you keep control over your premiums, your coverage and your investment strategy.
A tax planning tool
For an incorporated professional or a business owner, corporate-owned universal life insurance can become a powerful tax lever: it lets surplus funds grow sheltered from tax and transfers the value on favourable terms at death. This is an area where the guidance of a certified advisor makes all the difference.
Why compare before you buy?
Fees, investment options and cost structures vary considerably from one insurer to another for universal life insurance. The same goal can translate into very different costs depending on the company you choose. Comparing several offers with an advisor ensures you get the most efficient structure for your situation.
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