How to buy Term Life Insurance in Canada

If you are looking for the maximum possible protection at the lowest possible cost, term insurance is the most affordable life insurance available.

Top Canadian term life insurance broker covers the major points you need to know about:

  • preferred rates: the discounts for good health can be huge
  • working with an independent broker
  • convertible plans

Term life insurance offers very affordable protection, but you have to be aware that the premiums increase sharply as you get older. Get your free quote

What’s the alternative to escalating premiums? Term 100, Universal life, or Whole Life insurance.

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  • bozena
    April 19, 2012 at 3:11 pm

    Can you tell me ,how much we will pay term insurance for 30 yeras ,I am 55 years old my husband is 54 years old ,no smokers ,good helth

  • LSM Insurance
    March 31, 2010 at 12:08 pm

    Thanks for the note Hazel.

    I would be very careful before switching if you have had the policy a long time you could be losing a lot of money by switching. Below is a snapshot of the primary differences

    Term Insurance
    -lower initial premium
    -premiums increase as you get older
    -no cash value

    Whole Life
    -higher initial premium
    -lifetime protection
    -builds a cash value
    -some plans can be paid up after a limited number of years

    You are likely better off adding additional coverage to your existing Whole Life plan if you feel you are under insured – All the best!

  • hazel n.
    March 31, 2010 at 12:21 am

    hi theres an agent who where convinsing me to change my whole life insurance to term insurance can u tell me whats d diffence between the two…
    thanx

  • LSM Insurance
    June 26, 2009 at 8:44 am

    Thanks for the note. I’ll send you information now.

    Have a nice weekend! Lorne

  • j nurse
    June 26, 2009 at 6:56 am

    Please send me info on Term 100, universal life for $250, 000