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Term Life Insurance Tips

  1. A Closer Look: Term 20 Life Insurance
    Just because Term 20 Life Insurance policies are generally straightforward, doesn't mean there aren't some nuisances.

  2. Term Insurance - Specific pitfalls to look out for
    Shopping for Life Insurance is in many aspects much like shopping for any other item. Take shoes for example. When looking for new shoes, they have to serve the intended purpose, they have to fit comfortably and they have to be within your budget.

  3. Be Careful When Replacing Your Life Insurance
    Like any industry, the life insurance business has a few bad apples. Here are six questions you should ask yourself before replacing an existing life insurance policy with a new one.

 

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47 Responses to “Term Life Insurance Tips”

  1. extend or renew my term insurance at Primeamerica

    angelo Macatula thought on April 8th, 2008 4:34 pm

  2. I am a 64 year old male.
    I do have diebetis it is well under control
    with diet and pills.
    I had a stint put in me beginning of Dec 2008.
    Doc’s say I am as good as new. Feel that way
    would like to know what a 10 year term would run me for $100,000.

    thank you

    Ken Gran

    Ken Gran thought on February 20th, 2009 9:04 am

  3. Hi Ken,

    Thanks for the email. I think we should be able to help. I’ll send you a seperate email shortly.

    Regards … Lorne

    lorne thought on February 20th, 2009 9:41 am

  4. Good evening. I am a 66 year old male. I just had my annual medical two months ago with the results being everything in great shape (except I am getting more ugly as the years go by.) I hope this is not a criteria for acceptance.
    Two (or) three questions, please:
    I am not sure how the term policy works. Is it that a certain amount ($10,00)for a certain period of time (eg. 10 years) and then terminated? Is the payment cost of this policy more than the Whole Life policy? Is there an age restriction for coverage on either of these two policies? I regret, and even apologize for leaving such an important matter to the extent that I have. Back to the medical aspect, I am sure I can get a copy of my medical report from my doctor if youshould require it.

    As you can surmise – I love to talk. So on this note, I will close.

    I anxiously await your response.

    Thank you.

    Yours truly,

    E. James Seaborn

    (Edward) James Seaborn thought on February 24th, 2009 10:30 pm

  5. Hi James,

    Thanks for the note.

    The cost of a Term policy starts off lower than Whole Life plans but increases as you get older and the plan generally expires at age 80. Some companies have Term plans to age 100 but the vost gets extremely expensive in the later years.

    Whole Life plans are higher cost initially but the cost remains level for your lifetime. The insurance company usually writes your doctor to verify your healthy (they pay the doctor directly for the cost of any reports that need to be completed)

    Based on you age and health you should qualify for either plan.I will also send you a seperate email. Thanks … Lorne

    lorne thought on February 25th, 2009 9:47 am

  6. Hi,

    I’m a bit young only on my mid twenties, though I already purchase a Life Insurance; which is under Industrial Alliance..Then, is it okay to transfer it to Primeamerica…
    Can you give some points please for me of what to do. Thanks alot

    Billie thought on May 16th, 2009 11:25 pm

  7. Hi Billie,

    Thanks for the note. You can not transfer life insurance from one company to another.

    The other agent is having you replace your existing policy with a new plan. Generally this is not in your best interest especially if you have a Permanent policy with Industrial Alliance.

    If you need more coverage you are usually better off simply adding to your existing plan.

    I hope this helps. Regards … Lorne

    lorne thought on May 17th, 2009 10:57 am

  8. I am looking for a life insurance for the sum of about $100,000. I am turning 60 in the fall and my last term is now up. I am not satisified with the premium they were charging me. I am a diebet and I am on pills. I am still working as a long distance truck driver.Could you please get me quotes for this whether term or whole. Thank you.

    Ed thought on June 28th, 2009 11:02 am

  9. Hi Ed,

    Thanks for the comment. We are happy to try and help out. I’ll send you a email now. Regards …

    lorne thought on June 28th, 2009 12:30 pm

  10. My husband is 62, a mild diabetic taking pills. He was also diagnosed with early stage asbestosis. Currently, he is covered by Empire Life with convertable term insurance. It is up for renewal and the premiums have tripled. Coverage offers death benefits of $300,000 on my husband, and $200,00 on myself, as it was a family plan, that originally included our three sons, who are now adults.
    Are you able to provide insurance for us? If so, please estimate the costs, and suggested coverages.
    Thank you,
    Renee MacKenzie

    Renee thought on July 20th, 2009 1:53 pm

  11. Hi Renee,

    You may be better off converting the existing plan to a Permanent plan as conversions can be done withour a medical.

    I will send you a separate email on this. Thanks … Lorne

    lorne thought on July 20th, 2009 5:54 pm

  12. my father is 64 yrs old an just had a feeding tube put in his stomach he is not able to swallow anything it goes stright to the lungs that y he got the feeding tube so he can be feed throu it. other then this he is doing good. what kind of insurace can we get to cover his debt lefted behind. he is thinking he owns 100,000 an still paying on things til he cant or he is gone to heaven then its me lefted to cover the rest. i need him to have some kind of pretection to give me peace of mind at the end of time. can you direct me if so please contact by email an list his name in subject robert thanks

    janet thought on July 29th, 2009 3:06 am

  13. Hi Janet,

    Sorry to hear about your father.

    Traditional life insurance will likely not be an option. The Edge has a non medical life insurance policy that has no health questions.

    The death benefit is limited to a $25,000 Maximum and the insured only receices a return of premium plus 10% interest if he/she dies in the first 2 years. The plan pays out in full thereafter. Regards … Lorne

    lorne thought on July 29th, 2009 9:01 am

  14. Hi Lorne I am a 60 yr old male my wife is 54 yr’ old we are in Antigua W.I. spending time with my wife mother we will be back in canada soon what is the quote on term life ins for us for a $200,000 for myself and my wife I mean monthly fees please let us know we need to get some insurance.
    Thank You.

    Roy thought on August 22nd, 2009 6:08 pm

  15. Hi Roy,

    Thanks for the note. I will send you an email now. Regards … Lorne

    lorne thought on August 23rd, 2009 12:44 pm

  16. My husband is 66 and we need to start paing the premiums on whole life ins. purchase 19 years ago. $3000 a year will take him to age 85. Is this reasonable or would he qualify for 25 year term ins. and what would that run him? Existing polocy is for $150,000. Thank you

    Jerri thought on August 28th, 2009 1:04 pm

  17. Hi Jerri,

    Thanks for the note.

    Term 25 coverage would not be available for someone age nearest 66. He could do $150,000 of Term 100 coverage (level premiums for life). The lowest annual premium would be $4,758.00 a year with Empire Life.

    lorne thought on August 28th, 2009 5:32 pm

  18. Looking for term insurence for my son who is 50
    Is it possible to buy insurence on some one else’s life???

    carol harley thought on August 31st, 2009 4:02 pm

  19. Hi Carol,

    Thanks for the note. Yes you can buy insurance on someone else as long as their is an insurable interest. The insurance company would require your son to complete the application and any necessary medical requirements.

    Regards … Lorne

    lorne thought on August 31st, 2009 5:36 pm

  20. Hi Lorne, I am a 28 year old female and I am looking to get life insurance as I’ve just had my first child. I am in perfect health, non-smoker. My main concern would be making sure my childs expenses e.g. university would be taken care of if something were to ever happen to me. I have no clue what to look for or what kind of insurance I need. With my budget I can comfortably spend between $100 and $150 per month but anything cheaper would be very welcome!

    Thanks,

    Tracy

    Tracy thought on September 9th, 2009 4:23 am

  21. Thanks for the note. I will send you an email now. Regards … Lorne

    lorne thought on September 9th, 2009 12:35 pm

  22. i already have term life insurance , but i am paying way to much. i am looking for 150,000 worth of term to life. i lost my father and then 6 months later my wife walked out. needless to say i was stressing a little. if you can beat there price, you are in.
    thanks wayne

    wayne thought on November 2nd, 2009 6:53 pm

  23. Hi Wayne,

    I’m happy to help out. The rate will depend on your age, lifestyle, smoking status and health. I will send you a separate email shortly. Best Regards … Lorne

    lorne thought on November 2nd, 2009 7:12 pm

  24. I am looking for a $5,000 – $10,000 dollar life insurance policy for my 85 year old mother. She is in good health.

    Diane thought on November 3rd, 2009 11:50 am

  25. Hi Diane,

    Thanks for the note. Your mother is to old for a Term plan but both traditional life insurance simplified issue (i.e no medical) whole life policies are available for your mother.

    I will send you a separate email now. Regards … Lorne

    lorne thought on November 3rd, 2009 12:08 pm

  26. I am 42 a non smoker, non-alcoholic male, Weighing 80 KG on height of 5 ft 10″, thinking about having a term life policy of 300,000.
    My cholesterol use to be a little bit elevated and I also have a Sleep apnea which is very well managed by use of CPAP that I use every single night and am very comfortable with it. I also have occasional acid reflux problem for which I am prescribed Prevacid that I use whenever required.
    Kindly help me getting the best possible rates

    Muhammad thought on November 3rd, 2009 7:35 pm

  27. Thanks Muhammad. I’m happy to help out – I’ll send you a separate email shortly. Regards … Lorne

    lorne thought on November 3rd, 2009 9:05 pm

  28. Hi, i already have term life insurance for $100000 and will expire 2013, now i am 59 years, non smoker, non-alcoholic male, Weighing 80 KG on height of 5 ft 10?, thinking about having a term life policy of 100,000, My cholesterol, blood preasure are normal,no medication.
    looking for $100000 for 10 or 20 years

    Munaf

    Abdul thought on December 30th, 2009 11:18 pm

  29. Hi Abdul,

    Thanks for the note. Assuming you don’t have any other health issues and have good family history you could qualify for preferred rates.

    I will send you a separate email now.

    lorne thought on December 31st, 2009 11:19 am

  30. we are very underinsured – have accidental death ins. on both of us for $50.000 and only l policy for regular term life for $20,000 on husband. we need a overview of our ins. and a more practical ins. policy set up.

    Laurie and Joan Beaulieu thought on February 27th, 2010 12:18 am

  31. Hi Laurie and Joan,

    Thanks for the note. We are happy to try and help I’ll send you a separate email now.

    lorne thought on February 27th, 2010 4:51 pm

  32. Im 47 years ,single mom of two teenagares. I dont have any insurance .Im a non smoker ,and in good health im looking for a life insurance and disability .can you help me?

    Margaret thought on April 11th, 2010 1:46 pm

  33. Hi Margaret,

    Thanks for the note. Several companies we work with offer combination life and disability plans. We are happy to help out I will send you an email now.

    lorne thought on April 11th, 2010 2:48 pm

  34. My husband is self-employed without life insurance. He is a non-smoker, non-drinker and is 58 years of age, few pounds overweight, but in relatively good health. I have life insurance thru my employer but we have never looked into life insurance for him. I do not understand the different types available or what would suit our needs. If you could forward some information to review, I would appreciate it.

    Jalene thought on May 12th, 2010 12:18 am

  35. Thanks Jalene – We will send you a separate email now.

    LSM Insurance thought on May 12th, 2010 10:18 am

  36. Hi,
    I,m 57 years old female a non smoker and in good health.64 kg and 156 cm.
    I,m looking for a LIFE Insurance $100.000 /20-25 yeas/ and DISABILITY Insurance $1.500/moth to 5 years benefit period.
    Occupation Class BB
    Can you help me please!!

    Tank you so much.

    Rozalia thought on June 26th, 2010 9:14 pm

  37. Thanks for the note. We are happy to help and will send you an email now.

    LSM Insurance thought on June 27th, 2010 2:38 pm

  38. Hi,

    Both my husband and I are 40 y.o.,non-smoker, no bad health condition…we each have 100,000 universal life with Industrial Alliance and 500,000 Term with Empire LIfe. Is a move to another company for a Term 35 an advisable ?

    Aya thought on August 21st, 2010 1:24 pm

  39. Thanks for the note. There are many variables before replacing an inforce policy (it is often not in your best interest). We will send you a separate email now.

    LSM Insurance thought on August 23rd, 2010 4:39 pm

  40. Hello,

    You might say I am in a unique situation: I’m a total loaner – no family, no friends. Of course my being 67 isn’t that unique, but certainly a drawback. I also not unique that I have certain health issues at my age, such as having had a Stent. Notwithstanding, I am on an extremely healthy regimen, including diet and exercise. I ride a bike 8.7 miles per day for instance. Anyway, I am simply trying to arrange things so that my estranged family of about 30 do not have to be involved at all. I have orderered a Casket from a Trappist Monestery; I’m making payments on a burial site; I’m writing my own (pro-life) Advanced Directive compared to all the pro-death ones I’ve perused. Finally, I would like to get some term life insurance. I would like to get $10,000 for 15 or 20 years; but I can’t afford more than about 50/Mo. Could you give me some specific figures? Most appreciative.

    David P thought on September 1st, 2010 7:12 pm

  41. Thanks David – we appreciate your candor and we will be in touch shortly by email with a quote.

    LSM Insurance thought on September 2nd, 2010 1:46 pm

  42. I am going to be 73 in Nov. i would like to know if i can have a policy for my credit accounts so my children will not have to pay them after death..I am in good heath non smoker

    valida lamirande thought on September 20th, 2010 2:32 pm

  43. Thanks Valida, We are happy to help and will send you an email now. Regards, Lorne

    LSM Insurance thought on September 20th, 2010 2:49 pm

  44. I am shopping for life insurance for my common law husband. He is 57 yr. & has no health issues & a non-smoker. Not sure what plan is best. Would you send me advisement on what plan type to go with traditional, term or non-medical. I’m thinking $100,000 coverage.

    Marilyn thought on January 14th, 2011 11:52 am

  45. Thanks Marilyn, we will send you a seprate email now. Regards,

    LSM Insurance thought on January 17th, 2011 10:09 pm

  46. Can yo sen me some quotes for a term life and also can you advise me if a term life policy would be the best type of policy for me, seeing as how I have no health problems.

    janice thought on February 18th, 2011 8:19 pm

  47. Thanks for the note Janice. Your premiums will depend on the your age, smoking status, amount and type of plan. You can contact us at 1.866.899.4849 or email us at info@lsminsurance.ca

    LSM Insurance thought on February 19th, 2011 12:58 pm

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