Financial Services: Canada’s Best Term Life Insurance Plans with LMBF
Term life insurance is one of the two major options you will have to select from when purchasing life insurance. Term life insurance, also sometimes referred to as “pure life insurance,” offers guaranteed payment to the stated death beneficiaries upon the insured individual’s death within the policy period. Purchasing life insurance can be a big decision for many families, especially as no one likes to think about the “what ifs.” Term life insurance in Canada is a great option for new parents with young children as it’s affordable, offers a set period of coverage, and can provide budding families with peace of mind. Let LMBF help you find the best term life insurance in Canada for your needs. Start with a free quote today.
Advantages of Term Life Insurance
If the insured dies during the policy term, the provider will pay the policy’s “face value” out to the pre-determined beneficiaries. Most of the time, this cash benefit is not taxable and can be used for funeral costs, debt, and other things.
Pre-Set Term Period
Term life insurance is especially appealing to Canadians with young dependents as it can help them secure coverage for the period where their dependents are attending school and may end when their children are adults and self-sufficient. Periods can be 10, 15, 20, or even 30 years.
- You have young children
- You need coverage until your children are independent
- You don’t want to pay high premiums
- You want peace of mind
- Large amounts of coverage
- Variable term options
- Death benefit
What is term life insurance in Canada?
Term life insurance is one of two major options when purchasing life insurance. In Canada, term life insurance is typically heralded as more affordable and comes with flexible term options, commonly ranging between 10 and 30 years. Premiums are calculated based on the total policy value as well as your age, gender, and existing health conditions. Some providers may require medical exams whereas others do not.
Our Term Life Insurance Partners in Canada
No one likes to think about what might happen in the event of a loved one’s death, or how to move forward following such a tragic event. Term life insurance can handle the what ifs and secure you and your family’s peace of mind, but it can be a complicated purchase. LMBF is confident it can help you find the option that best benefits you and your loved ones with the help of its top-rated term life insurance carriers in Canada. Let us find you coverage that preserves your peace of mind.