What is term life insurance and how, exactly, does It work? Feb 24th

How to go about securing the best policy for your insurance in Canada.
Latest News
 insurance quotes

Life Insurance Rates and Health Conditions Apr 9th

Most life insurance plans are medically underwritten, which means that the insurance company has an underwriter look at your medical history (as well as conducting an interview with a medical practitioner) to evaluate your overall health condition. This evaluation determines what health class an ap.... More »

How much life insurance do I need? + MORE Mar 12th

Life insurance can be a tough task to face, but it’s pretty essential to ensure that your loved ones are looked after you die. Grief is difficult enough without having to deal with the stress of not being able to keep up with mortgage or car payments. But how much life insurance do you need? Here,.... More »

What is short-term disability insurance? + MORE Apr 1st

Short-term disability (STD) insurance is a term you may have encountered while filling out employee paperwork when you start a job. But what exactly does it do? It provides income for someone over a short period of time if they can’t work because they’re ill or injured, have been in an accident,.... More »

How to sell your own life insurance policy in Canada + MORE Mar 28th

“Can I sell my life insurance policy?” is a question Canadian insurance professionals are often asked. This might seem counterintuitive—after all, we purchase life insurance to safeguard the financial security of our loved ones in the event of death, not to provide an infusion of cash while we.... More »
When it comes to conversation-starters, life insurance generally doesn’t rank in the top 10. We get it—who wants to think about the end of their own life? But it’s important to know the ins and outs of life insurance coverage so you leave your loved ones financially secure in the event of your death. Here’s everything you need to know about term life insurance in Canada.
What is term life insurance?
The basics of life insurance are as you guessed: You pay small amounts of money over a length of time and, when you die, money is left for your family.
Term life insurance is one of the many types of life insurance available in Canada. As simple as its name implies, term life insurance provides coverage based on a set period of time, usually a 10-year, 20-year or 30-year term. 
Many opt for term life insurance because it offers low-cost coverage for a certain amount of time, and it is generally well-suited for covering debts with a known lifespan, like a mortgage. Generally speaking, premiums can range from $13 a month to more than $100 a month for $100,000 of coverage, depending on a wide range of factors, like your age, health and lifestyle…

Continue Reading On moneysense.ca »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!