CAA Term Life Insurance: Not All It’s Cracked Up to Be


When it comes to CAA Term Life Insurance, underwritten by Manulife exclusively for members of the Canadian Automobile Association, it's best that you don't believe the hype.

Manulife's website states that they offer discounts of up to 20% to non-smokers. However, when you compare the rates to the competition, the CAA premiums are significantly higher than those offered by other term life insurance carriers across Canada. The plan is also not available on a preferred rate basis. (click the link to see the difference between preferred and standard rates)

The CAA plan does have a built-in Accidental Death benefit, which pays up to half the face amount if the death is caused by a car accident where the insured is wearing a seatbelt, but it should be noted that less than 5% of life insurance claims are paid due to accidents.

The following are examples of how the CAA Term Life Insurance Plan stacks up against the competition:

$500,000 for a 40-year-old male, non-smoker with Term 5 coverage at standard rates

CAA:   $75.88/month

Sun Life: $40.50/month

Unity Life: $57.60/month

$500,000 for a 40-year-old male, non-smoker with Term 20 coverage at standard rates

CAA:  $94.00/month

Sun Life: $62.55/month

Unity Life: $63.78/month

You can get a free, online term life insurance quote by visiting our Instant Quote Page.

Call us: 1-866-899-4849

Name *
Phone *
Email
Your Date Of Birth
Amount of Coverage
Type
Comment
* Please Confirm Your Contact Details Are Correct

What Clients Say About LSM

life insurance testimonialsIf anybody is concerning purchasing personal insurance I would most definitely use LSM Insurance...1 of 84Lewis W. BestRead more

2 Comments

  1. alphie Musungayi 01/27/2010 at 12:03 pm

    500,000 for 36 year old female , non smoker with a term 25 coverage at standard and preferred rate

  2. LSM Insurance 01/27/2010 at 2:26 pm

    Thanks for the note. We are not contracted with CPP & CAA does not offer a 25 year Term but we do offer 25 year renewable Terms with other carriers.

    I will send you a separate email now.

Skip to
second column

Leave a Reply

 

Head Office: 2900 John Street Suite #302 Markham, L3R 5G3
Office 1-866-899-4849, 905.248.4849 Fax 905.300.4848


© LSM Insurance Services Ltd. 1998-2017




Translate »