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Term Life Insurance

This life insurance product offers temporary protection for a set number of years, typically in 10, 20, or 30 year terms. The benefit is paid if you pass away during the chosen term. Under a Term Life Insurance policy, your rates and opportunity for renewal are guaranteed. Term Life Insurance allows for large amounts of coverage at an affordable price.

How much coverage can I get?

Typically Term Life Insurance is offered from $10,000 to 25 million dollars

Who is eligible?

A Canadian citizen or permanent resident as well as landed immigrant who has been in Canada for more than 1 year.

Term 10: Age 18-75

Term 20: Age 18-65

Term 30: Age 18-55

Key Benefits:
  • Most affordable type of life insurance

  • Guaranteed premiums for the duration of the term

  • Ability to convert to a permanent policy without a medical exam

  • The benefit is paid to the beneficiaries tax-free

Our company provides Term Life Insurance plans from over 20 Canadian providers;as a result you are guaranteed to find the lowest rate on your coverage. Apply for a no obligation quote today.

Expert Answers about Term Life Insurance
What happens to my Term Life policy when I turn 70?The terms of the expiry of your term depends on whom you bought the policy from and on what term. Many plans offer renewal up to age 70, so you may continue your policy beyond for a certain period. It's recommend that, if you're concerned your policy will expire due to age, that you convert your policy to a permanent plan to avoid losing coverage.

3 Reasons to Choose LIFC:

  • We work directly with over 20 leading Canadian insurance providers

  • We are able to find the lowest premiums on the market

  • We offer a complete range of plans to suit any need and budget

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