Term 100 Life Insurance is a form of permanent life insurance that provides lifetime protection. Premiums for a Term 100 are fixed from the date you start the policy and remain the same until age 100 when no more premiums are paid. After this, coverage will continue.
Term 100 Life Insurance is a great solution for individuals or families that need lifetime protection, but want an affordable alternative to Whole Life or Universal Life policies and don’t need a savings component as part of their policy.
This form of life insurance is the most straightforward permanent coverage option available on the market today. Term 100 is often referred to as pure life insurance, as its focus is solely on providing financial security for your beneficiaries. There is no complicated savings or investment options to worry about, just comprehensive life insurance coverage at an affordable price.
Benefits of Term 100 Life:
From its simplicity to its affordability, there are a number of benefits with Term 100 Life Insurance. Here are some of the most beneficial aspects of a Term 100 plan:
Protection for your whole life.
Fixed premiums mean your rates never increase.
No investment or savings aspect makes it more affordable than other permanent policies.
No renewals or policy changes are needed after application.
An ideal solution for families who are uncertain about their finances.
How Term 100 Life Insurance Works
Like other life insurance options, when you apply for Term 100 coverage, you pick a coverage amount first. This is a tax-free plan benefit that goes directly to your selected beneficiaries if something happens to you.
There may be medical exams depending on the insurer and the plan. These medical exams are relatively simple and don’t require much time to complete. They help determine your premium amounts and eligibility for the plan.
Once you have your plan and coverage amount set, your coverage is in place and active. Some plans do have waiting periods before the benefit can go to beneficiaries. This is typically a 2-year waiting period. It is best to speak with your insurer to get all the information you need about your coverage when you apply.
We work with all major Canadian providers to offer you the best rates on Term 100 Life Insurance. Our advisors work with the whole market to find you a plan that matches your budget and unique circumstances.
Please complete our short enquiry form to get a free, no-obligation quote for Term 100 Life Insurance. Our service is free and it only takes a few moments to get you in touch with the best deals on the products we offer.
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