Term To 65 | Life Insurance Canada

Entries tagged as Term to 65:

Term 40 Life Insurance Policies in Canada

June 13th, 2013

Term insurance, as the name implies, generally covers a temporary need, such as a line of credit, mortgage, or business loan.

Most term life insurance policies purchased in Canada are Term 10 or Term 20 policies. Term 10 plans offer premiums that are low for 10 years, and Term 20 plans offer premiums that are level for 20 years.

Following a trend seen in the United States, Canadian life insurance providers are leaving the permanent life insurance market or increasing their premiums and offering more solutions for long-term policies. In the '90s, virtually no insurance companies offered Term 30 life insurance. Now, there are several Term 30 providers.

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Desjardins Insurance’s Disability Insurance to Cover Loans

April 19th, 2012

Desjardins Insurance offers a disability plan to cover loans. The plan allows the insured to have their loan protected in the event of a disability caused by an accident or an illness.

The benefit is paid to the insured rather than to his or her creditors, and it is not coordinated or integrated with other insurance or government plans like traditional disability insurance plans.

The policy is available as a Term 10, meaning the premiums are level for the first ten policy years. The plan is also renewable to age 65, which means premiums are level until age 65. It should also be noted that the premiums on this policy are non-guaranteed and can potentially rise.

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