Term life insurance offers temporary protection for a chosen period of time. During this term, the premiums you pay are fixed. Once the term expires, you often have the option to renew at new rates, or convert to a permanent life insurance plan.
Term is the cheapest type of life insurance available, and typically allows you insure yourself for very high amounts. Term life products can bought by nearly anyone on any budget.
Benefits of Term Life Insurance:
Insure an entire mortgage for only a few dollars a day.
Flexible coverage plans let you cover large debts according to your repayment terms.
Guaranteed renewability and convertibility without a medical exam.
May be combined with other forms of personal insurance for further low-cost protection.
Term insurance rate examples:
|Coverage||10 year term||20 year term||30 year term|
|Jennifer - 40||$ 500,000||$ 21.60/month||$ 36.90/month||$ 54.45/month|
|Michael - 35||$ 500,000||$ 22.05/month||$ 34.65/month||$ 50.40/month|
* Rates updated April 2015
We work with all major Canadian providers to offer you the best rates on Term Life Insurance. Our advisors work with the whole market to find you a plan that matches your budget and unique circumstances.
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