Combination Insurance

Combine the large temporary coverage of term insurance with the long-term protection and cash accumulation benefits of permanent insurance.

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Key Benefits


Tax-Efficient Growth

Have the potential to grow tax-efficient wealth by investing your premiums into assets you choose.



Choose how you want to build wealth, whether that’s a safe and steady IUL policy or invest directly in the market with a VUL policy.

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An additional term policy allows you to protect your temporary liabilities, such as a mortgage or young children, with the most coverage today.


Max protection plus tax-free wealth

Have a newborn or a mortgage that you need to protect? Term life insurance can offer the most affordable temporary protection for a high coverage amount, while permanent insurance offers lifetime coverage and additional health and savings benefits.


Lots of liabilities? Combination could be for you

A combination policy is best for someone who has liabilities they wish to protect today and still wish to accumulate tax-efficient wealth for the future.

We can design a unique combination life insurance strategy that allows you to get the maximum coverage for the first 10, 20, or 30 years, after which you will still have an amount of coverage that will last for the rest of your life.*   

*Policy must be in force and premiums paid.

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Why do I need life insurance outside of work?

Life and health insurance provided by the majority of employers offer temporary coverage while you are employed. However, if you are no longer with your current employer you will no longer be covered for life insurance or disability. In the case of a debilitating disease or a critical injury, you will most often only be offered a period of disability through work, after which your benefits will cease to exist.

Yes, you may be the owner of a life insurance policy that insures someone else. Typically, there are three parties in a life insurance contract:

  1. The owner, who has the right to make decisions
  2. The insured, who’s life is covered
  3. The payor, the individual or entity that is paying for the policy.

However, you will need three items to be able to buy life insurance on another party: Insurable interest - there needs to be reasonable financial risk for the owner if the insured passes away Medical exam - most often, there is a medical exam required for the insured to complete Consent forms - the insured will need to sign the application and policy approval form to acknowledge their consent Some examples of individuals you can purchase policies on are: business partners, children (the one instance where you do not need their consent as long as they are under 18 years old), spouse, and parents.

Yes, there are two types of life insurance policies that allow for spouses to purchase a joint life insurance policy: First-to-die: this means that 100% of the life insurance coverage will be paid out to the first spouse that passes away to be given to the second spouse. Typically, first-to-die policies are more expensive than a normal life insurance policy. Since the life insurance company is insuring 2 lives vs. 1. Second-to-die: this means that 100% of your life insurance coverage will be paid out only after both spouses pass away and be given to their beneficiaries. Normally, we recommend that each spouse get their own life insurance policy, that way they can protect each other in the case of a life emergency and maximize their coverage amount overall for what they are paying in premiums.


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