Understand Term Life Insurance

How term insurance works

Term Life Insurance provides affordable protection for a specific period of time usually 10, 20 or 30 years.

What happens at the end of the "term"?

At the end of your chosen term you have a few options:

• Stop payments and cancel the policy.

• Convert your policy to a permanent plan.

• Renew your policy for another 10, 20 or 30 years.

When does the policy pay out?

Should you pass away during the term of the policy your loved ones receive a tax-free benefit. To receive free, no obligation quote or more information on Term life insurance please complete a short enquiry form and we will be happy to assist you.

Here are some of the benefits of having a Term Life Insurance plan:

• Peace of mind knowing your loved ones will receive a tax-free benefit should you pass away

• Term Life Insurance is the most affordable type of life insurance

• The rates are guaranteed for the term of the policy

• You are able to customize your plan with optional benefits to better serve your needs

• You have the ability to renew you plan at the end of the term

• You have an option to convert you policy to a permanent plan

To receive free, no obligation quote or more information on Term life insurance please complete a short enquiry form and we will be happy to assist you.

The rate will depend largely on your age, smoking status and health condition as well as the term of the policy.

Here are some examples of the rates we are able to offer:

$500,000 coverage : Female : Age 35 : Non-smoker : 10 Year term

Top 3 rates:

RBC Insurance:
$16.11Equitable Life:
$18.81UL Mutual:
$18.90

$300,000 coverage : Male : Age 40 : Non-Smoker : 20 Year term

Top 3 rates:

RBC Insurance:
$36.07Foresters Life:
$37.17Equitable Life:
$37.25

$400,000 coverage : Female : Age 35 : Non-Smoker : 30 Year term

Top 3 rates:

Assumption Life:
$39.96Foresters Life:
$40.86SSQ Assurance:
$41.04

To find your rate please complete a no obligation form and we will be happy to assist you.