Life insurance · Term
Protection for the years that matter most.
Term life insurance is the simplest kind there is: pick a coverage amount and a term, pay a fixed premium, and if you pass away during that time, your family receives a tax-free lump sum. No exam, no needles, and a decision within 24 hours.
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Why term
The most coverage per premium dollar.
Term life exists to do one job: protect the years when other people depend on you most, the mortgage years, the kids-at-home years.
Affordable and flexible
Because coverage runs for a set term, premiums stay low. Choose terms in 5-year steps, up to 30 years, and coverage up to $500,000.
Predictable pricing
Your premium is fixed for the length you choose, so your monthly cost stays the same year after year. Budgeting stays simple.
No exam, fast decision
14 plain-language questions replace the nurse visit and blood work. You get a decision within 24 hours, not weeks.
Tax-free payout
The death benefit is paid as a tax-free lump sum directly to your beneficiaries, to spend on whatever they need.
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Real term prices, published.
Most insurers make you hand over your email and phone number to see a number. Here are real rates, straight from our calculator.
| Coverage | Age 35 | Age 45 | Age 55 |
|---|---|---|---|
| $100,000 | $20.00 | $20.00 | $41.04 |
| $250,000 | $27.68 | $45.45 | $98.55 |
| $500,000 | $52.65 | $88.20 | $194.40 |
Rates shown are for a female non-smoker, 10-year term, Prime tier, age nearest birthday, and include the $30 annual policy fee. Our minimum premium is $20 per month. Premium figures are illustrations, not an offer of insurance, your rate is confirmed during the application, before any payment is taken. Underwritten by Humania Assurance Inc.
See my real pricePolicy features
What comes with a term policy.
Optional riders
Depending on the product and province, you can add benefits like an accidental death benefit, a living benefit for terminal illness, or a transportation benefit. Each one is priced clearly before you buy.
Renewal and conversion
Some term policies can renew at the end of the term or convert to permanent coverage without a fresh medical review, where available. It keeps your options open as life changes.
The honest part
Your answers place you in a tier. The healthiest answers land in Prime: full coverage from day one, no deferral. Tougher answers can carry a 24-month deferral, accidents are covered in full from day one, and if death from natural causes occurs in the first 24 months, every premium paid is returned to your beneficiary. The full explanation is here.
Reasons to choose term
Built for the people counting on you.
I’m a parent or guardian
Including expectant parents, single parents, and stay-at-home parents, anyone raising people who depend on them.
I’m paying off a mortgage or loan
Match your term to the years left on the debt, so the protection is in place exactly when the balance is highest.
I support aging parents
Make sure the financial support you provide continues, no matter what.
I want to leave a legacy
Extra security for your children, spouse, siblings, or next of kin, a tax-free gift with their name on it.
How much coverage? Use DIME: add your Debts, your Income times the years your family would need it, your remaining Mortgage, and future Education costs. That total is your target.
Term life FAQ
Before you pick a term.
How does term life insurance work in Canada?
Term life insurance protects you for a set number of years, terms come in 5-year steps, up to 30 years. If you pass away during the term, your beneficiaries receive a tax-free lump-sum death benefit. It is the most affordable and straightforward way to protect the people who count on you.
Term vs permanent life insurance, what is the difference?
Term insurance covers a set period; when the term ends, so does the coverage. Permanent insurance lasts your entire life as long as premiums are paid. Term fits a specific goal, like covering a mortgage or the years your children are growing up. Permanent fits lifelong needs, like final expenses or leaving a legacy.
Term vs whole life, which is better?
Neither is universally better. Term is typically cheaper and ideal for covering large, temporary obligations. Whole life stays active for life and can build cash value. Your income, dependents, and future plans decide the right balance, and a licensed advisor can talk it through with you, free.
Can I claim term life premiums on my taxes?
For individuals, no, term life premiums are considered a personal expense and are not tax-deductible in Canada. Death benefits paid to your beneficiaries, however, are generally tax-free. For business-owned policies, speak with a tax professional.
What if I forget to pay a premium?
Missing one payment does not cancel your policy. You typically have a 30-day grace period to catch up. If the policy lapses after that, reinstatement may be possible but can require a new review of your answers.
What is an accidental death benefit?
An accidental death benefit pays an additional amount on top of the face amount if death results from a covered accident. Availability, terms, and maximums vary by product and province, you see exactly what your policy includes before you buy.
Can I cancel my coverage early?
Yes, at any time. Every policy also starts with a 30-day free look: cancel within it for a full refund. Just know that if you reapply later, your price will be based on your age at that time, reapplying older usually costs more.
When does my coverage start?
Your coverage starts once your application is approved and your first premium payment is processed. The effective date is printed in your policy documents, which arrive by email.
Find out in 60 seconds if we can cover you.
No email required. Rates are set by your age at application and go up on your birthday, checking today locks in today’s age.
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