Term coverage
Consider a defined period of protection for a mortgage, dependent children or another temporary obligation. Review renewal and conversion terms before choosing.
Family protection
Give the people who depend on you more choices.
Life insurance pays a death benefit to the beneficiary when an insured person dies, subject to the policy terms. Term insurance covers a specified period. Permanent insurance is designed for lifelong coverage. The starting point is the financial need: who depends on you, what they would owe, and for how long.
Start a private conversationSpeak with an advisor, or prepare a brief first.
Before choosing a policy
Four questions
worth asking.
Who would need financial support?
Which debts and ongoing expenses would remain?
How long would support be needed?
What savings and existing coverage are already in place?
Options and tradeoffs
The details
make the difference.
Permanent coverage
Consider whether a lasting need calls for coverage designed to remain in force for life. Understand the premium commitment and any non-guaranteed values.
A combination
Different needs can have different timelines. Discuss whether a combination fits better than forcing every obligation into one policy.
Common questions
A clearer
starting point.
How much life insurance do I need?
Begin with the debts, income support and other costs your beneficiaries would face. Subtract resources genuinely available for those needs. An advisor can help test the assumptions.
Is term always better than permanent insurance?
Neither is right for every situation. Compare the duration of the need, affordability and policy terms.
General information to prepare for a conversation. Coverage depends on underwriting and the policy contract. Your circumstances require individual advice.
Further reading: Financial Consumer Agency of Canada: Life insurance
A family name behind the advice