Term Life Insurance
What is term life insurance?
Term life insurance is affordable, easy-to-understand coverage that gives you flexible protection. It is temporary coverage that lasts for a set period and automatically renews in most cases. With term insurance, the payments you make, called premiums, are set at an initial low cost, and will not change during that period.
Your insurance costs will remain the same for a specific period (the “term”), until it renews for another term. If you pass away while the policy is in effect, a tax-free payment will go to the person/people that you have named as your “beneficiaries”. Not to mention that with most term policies, you can also convert your coverage to permanent insurance regardless of any changes to your health, occupation, or lifestyle.
REQUEST A CONSULTATION
Have any Questions?
Call us Today!
416 704 8074
- Choose the coverage amount and length you want.
- Decide if you want your coverage for 10, 20 or 30 years or up to a 40-year term.
- Customize your coverage with optional benefits.
- Pay the monthly or annual premiums.
- Your coverage automatically renews.
- You can convert to longer-term or permanent life insurance without medical questions, within limits.
- The people you chose receive a tax-free payment if you pass away while your policy is active.
But you can change your coverage without medical questions if your needs have changed. Your premiums will increase because you have gotten older or converted to a different product. Here are your options:
- Cancel your policy if you don’t need it anymore.
- Convert to a new longer-term policy.
- Convert to permanent insurance coverage.