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Term Life Insurance

Term life insurance
WHEN THERE IS IF IN LIFE

Canada’s Leading Insurance Marketplace

Affordable coverage when you need it, Offers flexible, convenient and affordable coverage,

Term life insurance is a contract between a policyholder and an insurance company that says if the insured person passes away within the time period of the policy, the insurer will pay a death benefit to the beneficiaries named on the policy.

 

Two things that we know are not avoidable are death and taxes, but most people prefer not to think about them. However, if you have dependents it’s important that you prepare, in the event that financial support is required. Life insurance benefits will help your family manage their day-to-day living expenditures by providing enough to cover funeral costs, final expenses, education plans, paying off mortgages, other debts, or whatever you want coverage for to make sure your loved ones are taken care of.

 

Life insurance doesn’t have to be a lifelong commitment. Term life is affordable coverage for your big expenses, so your loved ones are protected when it matters most.

 

It’s temporary coverage that provides the people or charities you name as beneficiary with a tax-free payout if you die within the term you choose.The money can be used to pay bills, the mortgage, kids’ education or to keep your business running.The payments you make, called premiums, are set for the term you choose and won’t change during that period.

How Does Term Life Insurance Work

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TERM LIFE INSURANCE

Benefits of Term Life Insurance

This is a cost-effective coverage type, and is often used to protect mortgages. The plan you select should be renewable and convertible, so that in the future you have the option to change your coverage to a permanent Whole Life or Universal Life plan as your needs change.

Flexible

Choose any term from 10 and 40 years. If you pass away within this time periodDisclaimer3, your beneficiaries receive your policy benefit tax-free.

Simple

Premiums and coverage are guaranteed for your entire term. Plus, you can renew your policy at the end of your term.

Affordable

Premiums are typically lower than for other types of life insurance, making term life insurance a good option if you have a growing family.

Convertible

Convert your policy into permanent or universal life insurance until you are age 71, without health questions or a medical exam.

Benefits of Term Life Insurance
Compare & Buy Save Money,
Any questions? Call 647-274-9670

WHY CHOOSE
POLICYDIRECT?

We Care About Your Life’s Important Things. Expert Advice with Superior, Honest Solutions – Reliable, Essential and Yearlong Service. At PolicyDirect, we’ve made the process of buying insurance as easy and painless as possible.

HIGHLIGHTS OF TERM LIFE INSURANCE

Term Life Insurance Plan Details

Access Your Money When You Need It​

At its core, life insurance is a financial lifeboat for loved ones in case of an individual's death. Term life insurance is one of the types of life insurance available.

Term Life Insurance Plan Details

Access Your Money When You Need It

  • The Right Choice If You
  • What’s Covered
  • Your Premiums
  • Key Points of Term Insurance
  • How Much Does It Cost?
Term Life Insurance Plan Details

The Right Choice If You

  • Are a Canadian citizen.
  • Are a permanent resident/landed immigrant who have been in Canada over 12 months.
  • Need a Term 10 to 15: from age 18 to age 70.
  • Need a Term 16 to 40: meet the maximum issue age of age 85 minus the term. Example: Age 85 - Term 25 = Age 60 Maximum Issue Age.
  • Are Starting a Family, Buying a Home, Planning ahead to leave a legacy.
Term Life Insurance Plan Details

What’s Covered

  • Death Benefit - If you die during the time period when coverage is in effect, your policy provides a tax-freeDisclaimer4 death benefit in the amount of your coverage to your beneficiaries or your estate.
  • Summary of Exclusions - During the application process, if we are given incorrect or incomplete information regarding health, lifestyle or smoking habits, we reserve the right to deny your benefit.
Term Life Insurance Plan Details

Your Premiums

  • Your premiums are guaranteed to stay the same for your entire term.
  • You can renew your policy after your term ends—premiums will change at renewal but are guaranteed for your entire renewal term.
  • At age 100, you no longer have to pay any premiums.
  • Pay by monthly pre-authorized debit, annually or with a credit card if you buy online.
Term Life Insurance Plan Details

Key Points of Term Insurance

  • Budget-friendly coverage - Payments don’t change for the period you choose.
  • Temporary protection - Choose the period of coverage that works for you – anywhere from 5 to 50 years.
  • Tax-free payout - Your insurance payout goes to whomever you choose.
Term Life Insurance Plan Details

How Much Does It Cost?

In general, term life insurance is more affordable than permanent life insurance. There are a few factors that can affect the price of your policy, including:

  • Age - Generally, insurance is less expensive when you’re younger.
  • Health - Family history, chronic diseases and lifestyle can increase costs.
  • Gender - Women live longer than men on average, so insurance may cost less.
  • Occupation - If you have a dangerous job, your insurance costs can be higher.

WHEN YOUR TERM LIFE INSURANCE EXPIRES

What Happens After Your Term Life Insurance Ends?

Depending on your policy, you may have four options for how you proceed with coverage when your initial term life insurance policy ends.

  • Let it Go

    If you decide you no longer need life insurance coverage, you can let your policy expire and go on without an active policy.

  • Renew

    With most traditional term insurance products, your policy would automatically renew for the same length of time as the original term.

  • Convert To a Longer Term

    You may be able to convert to a term that is 10 or more years longer than your original term. Your premiums will increase gradually each year.

  • Convert To Permanent Insurance

    Choose this option if you want insurance that lasts a lifetime and may grow in value over time, with tax advantages. Your premiums will be based on the coverage you choose.

Call Our Support 24/7. We’ll answer all your queries.

WHAT KIND OF

Life Insurance You Need?

Shopping for term life insurance can mean being overwhelmed with options.

 

Coverage? term length? And how much should it really cost?

 

Understanding what options are available and what you actually need is important. Thankfully, we’ll give it to you straight. There are two main types of life insurance: term life insurance and permanent life insurance.

. ........................

What does it provide?

How long are you covered

How can it help?

What's the cost?

Can it build cash value over time?

Benefits

Term Life Insurance

Protection for a set length of time

The length of time you choose

  • Replace lost income
  • Cover debt and funeral expenses

Usually more affordable than permanent life insurance

No

  • You name the beneficiary who receives a tax-free one-time payout when you die*
  • If your plans change,your coverage can change with them
Permanent Life Insurance

Permanent protection

Your lifetime

  • Replace lost income
  • Cover debt and funeral expenses
  • Can build cash value over time
  • Estate planning

Usually more expensive than term life insurance

Yes

  • You name the beneficiary who receives a tax-free one-time payout when you die*
  • Build wealth inside your policy,within limits,that you can access during your life

Protected Against Unexpected

Protection and security for you and your family.

Right Plan @ Right Rate

We will get you right coverage. Pay only for what you need.

When There Is If In Life

You can count on us, wherever & whenever you roam .

Customized Insurance Offering By Policydirect

Policydirect compare products and pricing across several insurance companies and suggests thatfits your requirements.

Canada’s Leading Insurance Broker

A simple promise : We'll be there when you need us most. When there is if in Life, you can count on PolicyDirect.

No Obligation, Financial Analysis

We can assist you in reaching your financial goals with personalized financial pathway that meets your unique needs & goals.

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Get your auto, Property, Travel, Life, Health, Business insurance quote. Your one-stop-solution for all your insurance needs.

We make it happen

HOW POLICYDIRECT WORKS?

At POLICYDIRECT, process of buying insurance as easy and painless as possible. in just a few minutes you could be on the way to obtaining right coverage, protecting your loved ones, and having the peace of mind knowing we haveprotected you and your family.

STEP 1 - QUICK QUOTE

Get the Best quote from all major insurance companies

STEP 2 - QUICK GUIDE

Get free advice from our advisors on product for your unique needs.

STEP 3–SUBMIT APPLICATION

Submit your application, get approved and deliver your policy.

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Insurance For Car, Home, Travel, Life & More, Get the most accurate estimate for your insurance needs.

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