Term life insurance in Canada. Protection for the years that matter most.

At Oneday, $100,000 of 10-year term starts at $20.00 per month at 35 and 45 and $41.04 at 55; $250,000 is $27.68, $45.45 and $98.55; $500,000 is $52.65, $88.20 and $194.40. Those are best-offer prices for a female non-smoker, including the $30 annual policy fee, with a $20.00 monthly minimum. Men, smokers, longer terms and more complicated health histories cost more, and your exact price is shown before any payment is taken.

Ten, twenty or thirty years. Oneday does not sell 5-, 15- or 25-year terms; the three lengths cover the real jobs term insurance does, and a permanent option that never expires is there for everything else.

Not at Oneday, at any age or coverage amount. The application is 14 plain-language health questions plus your height and weight, and a decision arrives within 24 hours. Term coverage does require healthier answers; if your history is more complicated, your offer may be permanent coverage instead, and every applicant aged 18 to 80 receives an offer of some kind.

Match the term to your longest obligation. Ten years suits a small remaining mortgage or the bridge to retirement. Twenty years carries young kids through school and most of a mortgage. Thirty years covers a new mortgage or a new baby, end to end. Our guide to how long your term should be walks through the math.

You have three options before the end: renew for another term (available to age 70), convert to a permanent policy without new health questions (also to age 70), or let it lapse if the need has passed. Term coverage at Oneday ends at age 80, and from 71 to 80 the maximum term coverage on the best offer is $150,000.

Yes. Term policies at Oneday renew and convert to age 70, and conversion to a permanent policy does not require answering health questions again. Renewal prices are higher because they are set at your age at renewal, which is why matching the term length to the need up front matters.

Neither is universally better. Term buys the most coverage per dollar for a need with an end date: the mortgage, the years the kids are home. Permanent never expires and suits final expenses and legacy. Many people hold one of each. Our term vs permanent guide compares them line by line.

Usually, yes. Bank mortgage insurance pays the lender, shrinks as you pay the mortgage down while the premium stays the same, and is often underwritten only at claim time. A personal term policy pays your family the full amount, stays level, and is underwritten before you pay. Our mortgage insurance vs term life guide covers the details.

No. Term is pure protection: you pay for coverage during the term, and there is no savings or investment component. That is exactly why it is the cheapest way to buy a large amount of coverage.

A simple method is DIME: add your Debts, your Income times the years your family would need it, your remaining Mortgage, and future Education costs, then subtract savings and existing coverage. Oneday coverage runs from $5,000 to $500,000. Our coverage calculator gets you a number in a few minutes.

At Oneday you can apply from 18 to 80. Term coverage is available up to $500,000 to age 70 and up to $150,000 from 71 to 80 on the best offer, renews and converts to age 70, and ends at age 80. Everyone, at any application age in that range, also qualifies for a permanent option that stays for life.

Often, yes. Treated, stable conditions like high blood pressure, cholesterol or well-managed diabetes frequently still qualify for term coverage with healthier answers. More complicated histories may be offered permanent coverage instead, sometimes with a 24-month deferral, and every applicant aged 18 to 80 receives an offer. There is no exam either way.

Yes. Smoking raises the price and never removes the offer. Twelve months tobacco-free usually earns non-smoker rates, the largest single discount in life insurance.

Yes. Once approved, your premium is locked for the entire term. It cannot rise because your health changes, and your coverage cannot be cancelled because of a new diagnosis. Every policy also starts with a 30-day free look: cancel inside 30 days for a full refund.

Seven provinces: Ontario, British Columbia, Alberta, Manitoba, Saskatchewan, New Brunswick and Nova Scotia. We do not currently serve Quebec, Newfoundland and Labrador, Prince Edward Island or the territories.

Oneday TPA Inc. is a third-party administrator. Every policy we issue is underwritten by Humania Assurance Inc., a Canadian life insurer founded in 1874.