What is Term Life Insurance?

Simple, affordable protection for your loved ones when they need it most

Understanding Term Life Coverage

Term life insurance provides financial protection for a specific period of time (the "term"), typically ranging from 10 to 30 years. If you pass away during the term, your beneficiaries receive a death benefit to help cover expenses like mortgage payments, education costs, and daily living expenses.

Fixed Term

Choose coverage for 10, 15, 20, or 30 years based on your needs

Affordable Premiums

Lower cost compared to permanent life insurance options

Guaranteed Benefit

Death benefit amount stays the same throughout the term

Protects Loved Ones

Provides financial security for your family's future

How It Works

1

Choose Your Coverage

Select the coverage amount and term length that fits your needs
2

Pay Your Premium

Make regular premium payments (monthly, quarterly, or annually)
3

Stay Protected

Your beneficiaries receive the death benefit if you pass away during the term

Why Choose Term Life Insurance?

Discover the advantages that make term life insurance the smart choice for protecting your family's financial future.

Ensure Large Expenses Are Covered

Your loved ones receive a tax-free payout to cover significant costs like mortgage, tuition, or other major expenses.

Choose the Term That Fits Your Life

Select a term length of 10, 20, or 30 years to align with your family's financial goals.

Easy Renewal Options

Extend your coverage at the end of your term with flexible renewal options for continued peace of mind.

Budget-Friendly Protection

Affordable premiums that stay the same throughout your chosen term, making it easy to safeguard your family.

Frequently Asked Questions

Term life insurance provides financial protection for a specific period (term), typically 10-30 years. If you pass away during the term, your beneficiaries receive a death benefit to help cover expenses like mortgage payments, education costs, and daily living expenses.

The amount of coverage you need depends on your financial obligations, income, debts, and family needs. A common rule of thumb is 10-12 times your annual income. Consider your mortgage, education costs, outstanding debts, and future living expenses for your family.

When your term ends, you typically have several options: renew your policy (usually at a higher premium), convert it to a permanent policy, or let it expire. Some policies offer guaranteed renewal options regardless of your health status at that time.

Yes, you can cancel your term life insurance policy at any time. However, term life insurance typically doesn't build cash value, so you won't receive a refund of premiums paid. Make sure you have alternative coverage in place before canceling if you still need protection.

Premiums are based on several factors including your age, health status, lifestyle habits (like smoking), coverage amount, and term length. Younger, healthier individuals typically pay lower premiums. The premiums remain fixed throughout your term, providing predictable costs.

Our Trusted Insurance Partners

We work with Canada's leading insurance providers to bring you the best term life insurance options