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.
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
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!
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
Thanks for the note. I’ll send you information now.
Have a nice weekend! Lorne
Please send me info on Term 100, universal life for $250, 000