What happened to Freedom 55?

Since the goodwill was still there and brand awareness was strong, the company decided not to retire the Freedom 55 brand. Instead it is aiming to expand that brand identity with an unbranded campaign.

What is Freedom 55?

The advertising slogan “Freedom 55” was introduced by the London Life Insurance Company in the 1980’s. It suggests that it is possible to exit your full-time career, more or less at the age of 55, and enjoy an exotic lifestyle, or a second, part-time career and live happily ever after.

Is Freedom 55 a good investment?

The return is not that good and the premium is high. If you take the same money that you would invest into Freedom 55 and put it into an RRSP or a GIC, you will get a return rate just as good or better. The difference, is you have access to your money. If you need life insurance, term is the way to go.

Does Freedom 55 still exist?

Freedom 55 Financial is now Canada Life.

What do I need to do to retire at 55?

According to these parameters, you may need 10 to 12 times your current annual salary saved by the time you retire. Experts say to have at least seven times your salary saved at age 55. That means if you make $55,000 a year, you should have at least $385,000 saved for retirement.

Who bought Freedom 55?

Great-West Lifeco Inc.
That famous Freedom 55 slogan is 25 years old and is owned by Freedom 55 Financial, now a division of London Life, which is 100% owned by Great-West Lifeco Inc. (GWL).

What is Jubilee whole life insurance?

Jubilee Whole Life. This policy gives you lifetime protection with premiums payable to age 100. This popular policy gives you the lowest annual premium of the three basic policies. Choice of death benefit. The death benefit is the money a beneficiary is eligible to receive on the death of the insured person.

Does Canada Life still exist?

In 2019, Great-West Lifeco consolidated its three brands in Canada as “Canada Life”. In April 2019, Great-West Life merged with its sister companies London Life and Canada Life into the single brand of Canada Life. The rebrand will take place in 2020, with Canada Life going to have 10,500 employees.

Did Canada Life take over Great-West Life?

On Jan. 1, 2020 The Great-West Life Assurance Company, London Life Insurance Company, The Canada Life Assurance Company and two holding companies amalgamated. They are now one company – The Canada Life Assurance Company™.

Can I cash out my life insurance?

Withdrawing Money From a Life Insurance Policy Generally, you can withdraw money from the policy on a tax-free basis, but only up to the amount you’ve already paid in premiums. Anything beyond the amount you’ve already paid in premiums typically is taxable. Withdrawing some of the money will keep your policy intact.

What do you need to know about Freedom 55 Financial?

We’re a full financial security planning organization founded on the stength and stability. Freedom 55 Financial takes pride in contributing to the communities where we do business. Read about the latest news from Freedom 55 Financial. Freedom 55 Financial advisors are with you every step of the way.

When did the Freedom 55 AD come out?

Beyond simply the unrealistic goal of retirement at 55, the company had another problem: its advertising had aged along with its core customer base, the boomer generation. The most recent TV ads, aired in 2010, looked like they were targeted at that age group.

Is the Freedom 55 insurance company on TV?

For years, it marketed itself as more than an insurance company with an aggressive TV presence touting its wealth management and financial planning services – complete with spry 50-somethings relaxing amid palm trees or on a yacht . But the new 13-week campaign includes no TV, and pushes the Freedom 55 banner into the background.

Is the Freedom 55 age just a dream?

Why Freedom 55? We’ve all seen the financial services commercials portraying the couples who have retired early and are living their dreams in exotic locations. Why wait until you reach the standard retirement age of 65 to stop working and enjoy life?