New question in Life Insurance FAQ

Posted on August 8, 2011 and updated August 8, 2011 in Life Insurance Canada News, Life Insurance FAQ 1 min read

New question in Life Insurance FAQ:

What does banded 20 year level term to age 100 plan type mean. Does coverage stop in 20 years or does it continue until age 100

I think you are referring to 20 year term insurance renewable to age 100. This means the premiums are level for 20 years. After the 20 years the policy is guaranteed renewable to age 100 but the renewal rates will be significantly higher after the initial 20 years.

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