Term Life
Things you need to know
Ensuring our family and loved ones will be taken care of in their time of need is a desire all of us share and one of the many reasons having a life insurance policy is so important.
Whether you are concerned about protecting your mortgage or providing your children with post-secondary education, a term insurance policy can be purchased for a fixed amount of time and is a cost effective choice to secure your beneficiaries’ financial well-being, allowing them to continue to pay for the things that matter. This type of coverage works on its own and it can also be converted into permanent Insurance to create personalized coverage that meets your needs.
Affordable protection that can adapt to your changing needs
Definition
- Term insurance is the most cost-effective temporary coverage choice for income replacement, mortgage and debt protection.
- A 10-year term policy gives you insurance protection for this limited amount of time to cover debts such as a short-term mortgage.
- A 20-year term policy is an option for those who think they will no longer need income protection or have large debts and expenses, like a mortgage, post-secondary education, after that period of time.
- A 30-year term policy is a cost-efficient way to protect your family in the case of longer-term debt or retirement income protection.
Affordable Rates
Adaptable Protection
Term life insurance rates are more affordable compared to permanent life.
Perfect for a younger person that have a sensitive budget.
The coverage amount will never decrease over the term period.
Premiums are guaranteed not to change over the life of the policy.
For the most, term insurance is guaranteed renewal until age 75.
An insurance policy can help ensure that your family doesn’t have to worry about finding the money to pay your final expenses.
Lower initial cost compared to a permanent plan.
Higher amount of coverage at a relatively lower cost.
Life insurance policies can be used as collateral or security for personal loans.
Most term polices allow you to convert into a permanent plan.
Flexibility to add coverage for your children.
You can choose to pay annually or monthly.
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You will not be turned down for coverage regardless of health condition. It is a simple, permanent insurance solution designed to meet the insurance needs of the most challenging applications.
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It provides the coverage you want, whether you have very serious medical conditions or are in good health.
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The coverage amount will never decrease over the life of the policy.
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Premiums are guaranteed not to change over the life of the policy.
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Policies accumulate guaranteed cash value beginning in the policy’s fifth year. You can use the cash value to pay premiums as long as cash values are sufficient. If the policy is cancelled, any remaining cash value will be paid to the policy owner.
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Life Insurance
Travel Insurance
Critical Illness
Group Employee Benefits