Level Term vs. Decreasing Term: Assumption Life Offers Both

Assumption Life is adjusting
their Decreasing Term Plan rates.
Photo by Joshua Williams

Assumption Life, one of Canada's oldest life insurance companies, offers a Flex Term policy, which provides Level Term coverage for 15, 20, or 25 years, and a Flex option plan, which is a decreasing term also available for term durations of 15, 20, and 25 years.

Level Term coverage means the premiums are fixed for the length of the term and the coverage is also fixed for the term. Whereas, a Decreasing Term Plan provides premiums that are level to the duration of the term, but coverage decreases and stops at the end of the policy term.

Assumption Life has re-priced both of these plans very well at most age brackets and coverage amounts. The following is a snapshot of their pricing for a 45-year-old, male non-smoker applying for $250,000.00 of 20-year Term coverage.

The Flex Term rate (the Level Term Plan) would be $63.22 a month. The Flex Option (The Decreasing Term Plan) would be $53.10 a month.

For more details on Term Insurance Rates in Canada, please contact us at 1-866-899-4849 or visit our Term Life Insurance Instant Quote Page.

Posted by Chantal Marr.