Wawanesa’s LifeStyle Term 10 and Term 20 Policies

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Wawanesa Life, a major property and casualty carrier, offers Term 10 and Term 20 insurance, coined LifeStyle Term. The Term 10 plan is available for applicants between the ages of 18 to 70, and the Term 20 plan is available for applicants between 18 to 60 years old.

Both plans are renewable and convertible, and are available on an individual, multi-life or first-to-die basis. The plans are available with a disability waiver, accidental death benefit, and children’s term rider. The children’s rider is available in amounts of $2,000 to $20,000, and the cost is $5 per year per thousand dollars of insurance regardless of the number of children.

One quirk in these plans is that children’s term riders are not available on Joint Life policies.

Both plans also have preferred rates on face amounts greater than $250,000, and are convertible without a medical to age 70 into permanent policies.

Below are examples of Wawanesa Life’s Term 10 rates at $250,000 of coverage:

Insured………..Standard Rates:….Preferred Rates:
35-yr male N/S:….$19.13/month……$15.08/month
45-yr male N/S:….$33.08/month……$25.65/month
55-yr male N/S:….$72.45/month……$55.35/month