Term Life Insurance
Term, or temporary life insurance is there when you need it most — like, when you have children, or decide to purchase a house. Term life insurance gives your loved ones the financial means to carry on if something happens to you. These products are affordable, even for those on a limited budget.
- Term 10 (Under $100,000): This plan provides flexible protection at affordable rates and is convertible to permanent insurance until age 65. The life of the contract is 10 years and you are able to renew your contract every decade up to age 75 without medical exams or questions.
- Term 10 ($100,000 and up): All the benefits of the above, with the possibility of a lower rate if you meet requirements in areas such as weight, family medical history and driving record.
- Century Life: Low rates and permanent protection are key features of this innovative term product. The contract remains in force for life, not just for a set period of time, so the affordable premiums are guaranteed to always remain the same.
Any of the following riders may be added to a Term 10, Century Life or Whole Life 100 plan.
- Family term rider: Extend coverage to your spouse and children at affordable rates. When children reach age 21, they can convert their coverage to permanent life insurance with Medavie Blue Cross, at up to five times its previous value—no matter what their health.
- Waiver of premium: If, prior to age 60, you become disabled (as defined in the policy) for a period of at least 6 months during the term of the contract, the premiums for your life insurance policy are waived for the duration of your disability.
- Accidental death: This option provides an additional payment to your beneficiary should your death be the result of an accident. Provide your beneficiary with up to two times the amount of coverage included under your life insurance policy.