TERM TO 100 INSURANCE QUOTES AND EXPERT TIPS

Why Choose LSM Insurance for Term to 100 Insurance

  • We provide service across Canada*, from BC and AB to ON and NS
  • LSM Insurance is one of the largest Canadian life insurance brokerages
  • We work with more life insurance companies than the majority of brokers (25+ insurers)
  • We have been serving Canadians for over 25 years

* Please note that we can not provide insurance products in QC

 

LSM Insurance is accredited by:

 

 

 

Get a Term to 100 Insurance Quote Today, or Ask Questions:

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How Much Does Term to 100 Life Insurance Cost?

Term 100 for a female, 45 years old, non-smoker, $100,000 in coverage

Best quote:
$89.19 per month

Term 100 for a male, 45 years old, non-smoker, $100,000 in coverage

Best quote:
$106.65 per month

Term 100 with cash values for a female, 35 years old, non-smoker, $100,000 in coverage; Cash value year 25: $23,541

Best quote:
$73.89 per month

What is Term 100 Life Insurance?

Term 100 life insurance is a very misunderstood product. The name is partially a misnomer. “Term” normally implies that this is a term policy, but Term 100 means they are actually permanent policies because they have a term of 100 years and best of all, the premiums never increase.

The policies are technically paid up at age 100, so the premiums cease at that point, but the coverage continues. Some Term 100 policies in Canada do offer a cash value, but most of them are offered on a stripped-down basis. This means that the owner does not get any return of premium if the policy is cancelled prior to death.

Of course, one of the drawbacks of Term 100 policies is that they’re payable to age 100 (your entire life) and if the policyholder misses a payment at any point prior to death, the policy will lapse after a 30-day grace period. This can create a problem for policyholders who switch banks, but forget to tell their broker or insurance carrier.

Interested in Term to 100 insurance or have questions? Please complete the form above.

When should you consider Term to 100 insurance?

You should consider Term 100 life insurance in following situations:

  • You are looking for a life-long protection
  • You do not want your premiums increase
  • You are looking for a product that is cheaper than whole life and universal life insurance

Interested in Term to 100 insurance or have questions? Please complete the form above.

How Does Term to 100 Insurance Work?

One you purchased a Term to 100 life insurance policy, you are covered PERMANENTLY and pay your premiums till the age of 100.

Should you miss any payments and do not fix the situation within 30 days, your coverage disappears.

Should you decease while a policy is in place, your beneficiary (or beneficiaries) will receive a lump sum payment that is called face value (e.g. $500,000).

Interested in Term to 100 insurance or have questions? Please complete the form above.

Term 100 is Permanent Life Insurance

Despite its name Term to 100 (also called Term 100 insurance) is a permanent life insurance. There are three types of permanent life insurance out there:

  • Term to 100 Insurance
  • Whole Life Insurance
  • Universal Life insurance

One big difference between Term 100 and Whole Life / Universal Life insurance is that Whole Life and Universal Life insurance have an accumulation component (cash value of a policy) and Term 100 does not have it.

That is reflected in insurance premiums. Typically, Term 100 will be cheaper than Whole Life Insurance or Universal Life Insurance.

Interested in Term to 100 insurance or have questions? Please complete the form above.