Learn the unique advantages offered by Term and Permanent Life Insurance (Whole Life) to discover which plan fits best with your needs and stage of life.
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Term Life Insurance
Term life insurance can provide you with coverage for a specific duration of time, agreed upon at the outset of the policy. In most cases you will see terms of 10, 20, 25 and 30 years. Among other considerations, the cost of the premium is dependent on each individual case and is determined by age, health status and level of coverage needed. The premium is guaranteed for the life of the policy and will not increase as long as the policy is in good standing. Some term plans can be renewed after the term ends, up to age 75, and other plans can provide coverage up to the age of 100.
Term life insurance offers an affordable and practical way to protect your loved ones when you are gone. You can choose a coverage amount and term length, while premiums remain fixed.
Benefits of Term Life Insurance:
Offers tax-free benefits for those left behind to help them with financial obligations such as:
- Mortgage responsibilities
- Current or future education debts/cost
- Estate and/or capital gains taxes
- Hospital bills or other medical expenses
Permanent Life Insurance
Permanent or whole life insurance offers coverage for the entire remainder of one’s life. Permanent plans can sometimes offer investment opportunities. Just like term life insurance, the cost of your premium for permanent life insurance will not increase for the duration of your policy. It is usually more expensive than term insurance, however it provides an excellent option for longer term succession planning, wealth accumulation and estate payments.
Benefits of Permanent Life Insurance:
Offers tax-free benefits for those left behind to help them with financial obligations such as:
- Outstanding loans and debts
- Funeral and burial expenses
- Estate and/or capital gains taxes
- Hospital bills or other medical expenses
- Leaving funds to a charitable cause
With a wide selection of Term or Permanent Life Insurance Plans available, it’s simple and straightforward to apply for reliable, affordable coverage
Get up to $750,000 in coverage for No Medical plans and up to $1 million on all other plans.
Applying is easy
Whether you’re 18 or 80 you can apply, including temporary residents with a valid work or study permit.
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Why Choose Term or Permanent Life Insurance (Whole Life)? Having a life insurance plan in place when people rely on you can make all the difference in the world. From mortgage payments to a child’s education, these expenses can be covered, and the payout is tax-free. Enjoy peace of mind knowing that your loved ones are protected.
Speak with one of our advisors to find out whether a Term or Permanent Life Insurance (Whole Life) Policy may be the best option for you.
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