Canada Term Life Insurance RateLooking for Canada Term Life Insurance Rate information? After reading Term Life Insurance in Canada you know that term is generally the most affordable insurance policy in Canada. Ask Your Life Insurance Questions (Click Here) Term Life Insurance can be purchased for rates starting at just a few dollars a month. I recently helped a younger single mother buy a $100,000 ten year term policy for close to $10/month. This easily fit her budget and gives her some peace of mind knowing that there will be money available for her child if she dies prematurely. She could have purchased 20 Year Term Life Insurance for just a few dollars more per month to give a 20 year rate guarantee. However, every dollar counts and the renewal rate in 10 years is still very affordable. Another example of an affordable term life insurance rate is a couple that has a mortgage. This couple are both close to age 60 and were paying close to $150/month for the banks credit insurance covering the mortgage balance. They took out a 10 year term life insurance policy that would cover each of them for a set amount equal to their current mortgage balance. They ended up saving over $50/month. And the coverage was better. If this 60 year old couple were in their 30’s I would have recommended a 20 or 30 Year Term Life Insurance for a longer period of certainty. The younger you are, the lower the Canada Term Life Insurance Rate. This also is true for the shorter term vs a longer term. A 30 year term insurance will be more than a 5 year term life policy. Return to Canada Life Insurance. Canada Life Insurance is the starting page for information on life insurance in Canada.
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