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Why Choose LSM Insurance For Term Life Insurance

A truly an independent agency working for you. 15+ languages spoken.​
Licensed across Canada and working with over 100 experienced insurance brokers.​
Working with more 20 + insurers to find for you the best life and living benefits products.​
Proudly serving Canadians for over 25 years. Helped thousands Canadians.​

Sample Term Life Insurance Quotes

Numeorus factors such as e.g. your health and fitness condition, your habits, your family history, etc. allow insurance companies to determine what rate you can qualify for. STANDARD RATES are the rates that 80% of people end up paying. PREFERRED RATES are lower rates and about 20% of people qualify for them. PREFERRED PLUS RATES are the best rates and about 10% of people qualify for them.

Female, 51 years old, non-smoker, no serious health pre-conditions, Term 10 life insurance policy for $200,000 coverage
Best quote
$28.17 / month
$28.17 / month
Preferred Plus
$27.18 / month
Male, 44 years old, non-smoker, no serious health pre-conditions, Term 10 life insurance policy for $200,000 coverage
Best quote
$22.05 / month
$22.05 / month
Preferred Plus
$22.05 / month
Female, 35 years old, non-smoker, no serious health pre-conditions, Term 20 life insurance policy for $500,000 coverage
Best quote
$17.37 / month
$16.97 / month
Preferred Plus
$14.31 / month

What is Term Life Insurance?

A term life insurance policy covers a policyholder for a pre-defined period of time, such as 10 or 20 years (Term 10, Term 20).

It is a simple, pure insurance product without a cash accumulation or savings component.

Term insurance works in the most straight-forward way: if the policyholder dies during the term, their beneficiaries get the coverage amount.

Interested in Term Life Insurance or have questions?

When do you Need Term Life insurance?

Term life insurance covers a policyholder for a limited period of time (with the exception of Term 100, which is actually a form of permanent insurance). Term insurance is optimal when:

  1. You want protection for a pre-defined period of time to protect yourself and your family (e.g. paying off a mortgage).
  2. You want to make sure your kids are being taken care of until they are able to live on their own.
  3. You want to minimize your life insurance premiums (thought it is important to know that these will significantly increase when you renew your policy).
  4. You need pure life insurance coverage because you invest elsewhere and you are not interested in leveraging the value accumulation component of permanent life insurance.

How Does Term Life Insurance Compare to Other Life Insurance Products?

Here is a brief comparison of how term life insurance compares to whole life insurance and universal life insurance.

Term Life InsuranceWhole Life InsuranceUniversal Life Insurance
Coverage lengthLimited (e.g. Term 10 – coverage for 10 years)Life longLife long
Insurance coverageYesYesYes
Cash accumulationNoYesYes
Can choose amounts going into insurance and cash accumulationNoNoYes
Interested in Term Life Insurance or have questions?

What are Term Life Insurance Rates?

Term premiums are typically lower than universal life or whole life insurance premiums. Your term life insurance premiums stay the same for the entire term of the policy (e.g. for 10 years if you purchased a Term 10 policy) but will increase once your policy expires and you get a new one.

That is different from whole life insurance premiums, which will be higher at the beginning but will stay the same over the course of your life.

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  • LSM Insurance
    May 7, 2018 at 5:28 pm

    Thanks Helmut. Depending on the carrier Term 40, Term 80 or Term 100 plans are available

  • Helmut
    May 7, 2018 at 4:33 pm


    what are the longest terms for term life insurance? 25, 30, 35 or 40 years? I am trying to get an overview for my daughtr (24).


    • Richard Parkinson CPCA
      August 6, 2019 at 11:11 am

      Helmut, there are term 10 – 40, with a few companies offering increments of 1 year, and a couple that offer specific plans to an age, e.g. to age 65, 70, 75, and 80, plus of course term 100 which will be the most expensive. Personally for young clients age 30 or younger I really like Manulife’s term to 65, and either $250,000 or higher coverage amount. At this young age, the premiums are affordable, e.g. a $250,000 term to 65 from Manulife for a 25 year old female is $21.03 monthly, so essentially a term 40, and $250,000 less coverage she will need in the future when rates are higher. I also like Manulife for their child rider, which is one of the best available.

    April 29, 2016 at 11:13 pm

    Hi, I am running my 40th year of life and have little high-cholesterol and hypo-thyroidism. I am taking phenofibrate tablet for cholesterol and synthroid for thyroid. Both remains under control and never had any problem. I don’t smoke at all. I am not a regular alcohol drinker (occasionally once a year). I am looking to get Term 30 or Term 35 life insurance. Can I get it and what approx. premium I have to pay for sum insured amount of $ 150,000 only. Thanks

    • LSM Insurance
      May 5, 2016 at 9:35 am

      Thanks for the note we sent you an email. Regards, LSM

  • Adeep
    December 15, 2014 at 4:56 pm

    Hi there,
    Looking for T30 Life Insurance , half million each for myself and my husband. Can you please quote us for per month and which insurance company it wud be thru.

    • LSM Insurance
      December 15, 2014 at 5:18 pm

      Thanks Adeep we are happy to help and will be in touch by email. With the additional details we need to provide an accurate quote.

  • Judy u
    October 24, 2014 at 3:32 pm

    I am 67 excellent health fit would like to know how much per month for both $50K & $100K policy
    Not sure of the lingo but just basic insurance.
    Thank you

    • LSM Insurance
      October 24, 2014 at 3:39 pm

      Hi Judy, We are happy to help.. It would depend on your age nearest age and the typ of plan Term or Permanent we will be in touch by email

  • Donna
    August 11, 2014 at 6:16 pm

    I am about to turn 70 at the end of August I am a non smoker, non drinker, I would like a quote for life insurance, I am looking for a quote for $75,000. I am in good health. I am 5’4″ tall and weigh 130 lbs.

    • LSM Insurance
      August 11, 2014 at 7:14 pm

      Hi Donna,

      Thanks for the note. We are happy to help. The premiums will depend on the type of plan whether it is Term or Permanent coverage.

  • Riva
    July 29, 2014 at 5:50 pm

    I would like to now approximately how much I have to pay on a monthly basis?

    • LSM Insurance
      July 30, 2014 at 11:28 am

      Hi Riva, Thanks for the note that would depend on the amount of coverage and the type of plan as well as year date of birth and smoking status.

  • AH
    July 19, 2014 at 12:23 pm

    Hi Chantal
    I am ….. I have cardiomyopathy, recently inserted an ICD (implantable cardioverter defibrillator). I want a 20 or 10 year term life insurance. Please suggest me.

    • LSM Insurance
      July 19, 2014 at 12:46 pm

      Thanks we are happy to help. The premiums will depend on your smoking status and the amount of coverage.

  • Jim Huynh
    July 11, 2014 at 8:21 pm

    Please reply thanks

    • LSM Insurance
      July 12, 2014 at 12:31 pm

      Thanks Jim. The premiums will depend on their smoking status, their age nearest ago and the type of plan. I will send you a separate email now.

  • Jim Huynh
    July 11, 2014 at 8:21 pm

    Please let me know about my parent Bith year 1932 & 1940 can they get their life insurance for $50 to cover $50,000 life insurance?

  • janice
    June 23, 2014 at 5:01 pm

    I want to know if I can get life insurance on my mother??
    No smoking, drinking……..ever. Tip top health.

    • LSM Insurance
      June 23, 2014 at 6:53 pm

      Thanks Janice. It was nice speaking with you. The rates depend on the type of plan and the amount of coverage. We will be in touch by email.

  • Jackson
    April 21, 2014 at 9:49 pm

    Male 39 yrs old making about 4000/month, non smoker, good health. Looking for 250,000 life insurance.Please send me a quote. Thanks

    • LSM Insurance
      April 22, 2014 at 10:46 am

      Thanks for the note Jackson. Most insurance companies use age nearest pricing meaning they price on the age you are nearest to. Are you closest to 39 also do you want a quote on a Term 10, Term 20 or Term 30 policy.

  • Rick
    December 20, 2013 at 1:30 am

    Hello ,

    My wife is 31 year old . She has got a bunch of health issues like Thyroid , Depression (bipolar and border line and she is taking therapy for these but no medication) and
    this year she has been diagnosed with sjogren’s syndrome for which she is taking medication

    We have to get life insurance for her , do you think she will still get a standard rate or will it be higher . Will all the companies accept her or only handfull .