Term Life Insurance for Canadians
Securing your family's financial future is essential. With term life insurance, you can ensure your loved ones are cared for if something unexpected happens. It’s a crucial part of financial planning, especially for young families and professionals. At Life Simple, we make it easy to get the coverage you need.
Tailored Coverage for Your Needs
At LifeSimple, we understand that every individual’s needs are different. We offer a range of coverage options for term life insurance in Canada, allowing you to select the policy that best fits your financial situation and future goals.
Coverage Amounts
$50K - $25M
Any Term Lengths Between
10 - 40 years
Eligible Ages
18 - 70
Key Benefits of Term Life Insurance
- Affordable Premiums: Term life insurance offers lower premiums compared to permanent life insurance, making it a cost-effective option for young adults.
- Flexibility: Choose the term length that suits your needs, whether it's 10, 20, or 30 years.
- Financial Protection: In the event of your passing, term life insurance provides a death benefit to help your family cover living expenses, mortgage payments, and other financial obligations.
- Convertible Policies: Many term life insurance policies offer the option to convert to permanent life insurance, giving you flexibility as your needs change over time.
- Other: It’s simple, affordable, and offers significant financial protection during critical years.
How to Apply for Term Life Insurance?
Applying for term life insurance is a straightforward process. Here’s how you can get started with Life Simple:
Tell us About Yourself: Answer a couple of questions
Compare Rates
Apply Online in only 10 Minutes
Complete a Verification Call with an in-house Licensed Insurance Broker
Term vs Permanent Life Insurance Comparison
| Feature | Term Life Insurance | Permanent Life Insurance |
|---|---|---|
| Coverage Period | Set Term(10 to 40 years) | Lifetime |
| Premiums | Lower | Higher |
| Cash Value | No | Yes |
| Convertible | Yes (with conditions) | Not Applicable |
| Death Benefit | Yes (if within the term) | Yes |
Companies we work with
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We Are Changing Lives
As a former prospect, and now a current client, I can confidently recommend them for all of your life and health insurance needs. The team at LifeSimple was delight to deal with. They provided excellent client service, insightful analysis, relevant and catered advice, and kept me informed and confident about the products and applications at every step.
We Are Changing Lives
LifeSimple is so invested in our success, and through telephone calls and emails they always did their best. I am now a happy customer, and thanks to their quick responses and hard work I now have insurance for me and my family. This was such a professional experience, and it makes me feel confident knowing that I have them taking care of me.
We Are Changing Lives
We were very pleased with the services provided by LifeSimple. The prices were competitive and their responses were prompt, even being over Christmas holidays. The whole process was made easy for us and we have peace of mind going forward now that we have our own life insurance.
We Are Changing Lives
10 out of 10! I cannot recommend LifeSimple enough! They kept us updated every step of the way through the process of getting us set up for our insurance, and we could never have done it without them. They found us the best possible deal and gave their recommendations without any type of pressure. If you are ever in the market for life insurance, LifeSimple should be your first choice to reach out to!
Secure Your Future Today
Don’t wait to protect your loved ones. Get a personalized, no-obligation quote for term life insurance in Canada from Life Simple today. It takes 10 minutes to compare term life insurance policy rates.
Frequently Asked Questions
What is term life insurance?
Term life insurance provides coverage for a set period ranging from 10 to 40 years. It is simple and affordable and offers death benefit if the insured passes away during the term.
How much coverage do I need?
It depends on your financial obligations and goals. Consider your income, debts, and future expenses.
Can I convert my term life insurance policy to a permanent one?
Yes, you can convert your term life insurance policy to a Permanent Whole Life plan. All Term Life plans available on our site are always fully renewable and convertible to Permanent Whole Life at any time. No medical exam or underwriting is required, and your original underwriting class remains unchanged even if your health has changed.
What happens if I outlive my term policy?
If you outlive your term life insurance policy, it typically ends without action needed from you, premiums stop, and there is no death benefit. If your policy includes a return-of-premium feature, you'll receive a refund of the premiums paid. You may also have the option to renew the policy yearly at higher premiums or convert it to a permanent policy if it has a conversion rider.
Is term life insurance renewable?
Yes, all of our term life insurance policies offer the option to renew at the end of the term.
Protect What matters most to you
