20 Year Term Life Insurance is ideal for home owners, parents and business owners.
Have consistent coverage for when you’re carrying debt and have dependents.
Here’s a bit more about our 10 Year Term Life Insurance:
|Who It’s For||Recommended for individuals who have any debt, whether it’s a mortgage, student loan, or credit card balances. It can also be used to bridge the gap of an expiring Term product for twenty years to provide coverage until a financial responsibility is met.|
|For Parents||It covers periods of time when you have dependents and secures their financial future with a benefit. This policy provides children age 0-18 with some financial security in the event of a parent’s death. Many parents will also take into consideration the cost of education and providing for university in the event they are not around.|
|Eligibility||Minimum amount of $25,000. For Canadians, permanent residents or people with a valid work visa, from 18-60 years old. Ideal for individuals with short term loans or debt, or individuals who cannot afford longer term coverage.|
|How It Works||It’s taken out for a 20-year period with the option to renew at the anniversary of the policy.|
|Benefits||Premiums are lower than permanent insurance, allowing younger people to buy more coverage when the need for protection is usually greater. This policy is affordable and provides coverage for amortization periods on mortgages. It is a non-taxable benefit unlike investments. It can also be converted to a permanent insurance product. You can cancel at any time.|
|Disadvantage||This policy only provides coverage for a certain period. It does not protect against changes in health if you require coverage outside the term period and you can become locked into increasing premiums past the term period if you still need coverage.|
Yes, you are one of a kind.
Term life insurance pricing is based on the smoking status, gender, lifestyle, health, and the age of the individual applying for coverage. If there is a history of medical issues, high risk occupation, or even a conviction for reckless or drunk driving, prices for life insurance can be rated for the increased risk.
What Life Insurance is all about.
Term Life Insurance is a product designed to protect individuals of financial burden in the event of an unexpected death. It is a tax-free lump-sum predetermined payment provided to your named beneficiaries after your death.