It’s likely that some providers will offer competitive interest rates on funds held within your FHSA, as they do with tax-free savings accounts (TFSAs).

Source: https://www.moneysense.ca/save/investing/fhsa/best-fhsas-in-canada/

Universal life plans can be a great way to create financial security, said Cline, but only to suitable clients who have already maximized payments to more common tax-sheltered options like RRSPs and TFSAs (or in the case of babies, RESPs).

Source: https://financialpost.com/pmn/business-pmn/regulator-reining-in-greatways-multiple-levels-of-questionable-insurance-marketing