Term 10 Life Insurance

10 year term insurance is coverage that provides a level benefit at a level cost for 10 years.  The 10 year duration makes it ideal for young families who are looking for coverage during their child rearing years and to match up to their mortgage balance.  The level cost for 10 years makes it easier to budget for, and because it is term life insurance, those premiums will be substantially cheaper compared to a permanent solution.  Most term life insurance policies in Canada include a privilege to covert the coverage to a permanent plan (Universal Life, Whole Life, T-100), and a renewal privilege that allows to coverage to roll over into another term of the original duration (10 or 20 years).  However, renewal premiums are usually very steep!

Benefits include:

  • Can death benefit coverage up to $10,000,000
  • Policies are not complex and simple to understand
  • Premiums are level for the length of the term
  • Can convert to permanent or allow the coverage to renew
  • Cancel at any time without a penalty

For more information on your options when it comes to getting insured one of our experienced advisors can help. We’ll compare the Canadian market for you, so you get a more accurate quote and the best possible solution for your needs.

Get some help without the hassle at 1-877-755-9293 (you can also connect with us HERE)