Understanding Term, Universal, and Whole Life Insurance — and Why Affluent Retirees Are Choosing Whole Life As
As you move into retirement with a strong financial foundation, you’re likely focused on protecting what you’ve built and leaving a legacy. Life insurance, once seen purely as a tool to pay off debt or replace income, can take on a much more strategic role — particularly for high-net-worth retirees. To understand how, let’s explore the three major types of life insurance and why more affluent Canadians are leaning toward whole life.