Term Life Insurance for Canadians
Securing financial protection for your loved ones doesn’t need to be complicated. Term life insurance offers affordable, straightforward coverage for families, homeowners, professionals, and anyone building their financial foundation. At LifeSimple, you can compare rates instantly and get the right plan—without pressure.
Flexible Coverage Options
Term life insurance should fit your goals—not the other way around. LifeSimple makes it easy to choose the right coverage amount, term length, and eligibility range for your financial needs.
Coverage Amounts
$100K - $10M
Any Term Lengths Between
10 - 40 years
Eligible Ages
18 - 70
Key Benefits of Term Life Insurance
- Affordable Premiums: Term life insurance is typically the lowest-cost way to protect your family, making it ideal for young families and budget-conscious professionals.
- Flexibility: Choose the term length that fits your goals — from 10 to 40 years — and lock in guaranteed rates for the entire duration.
- Financial Protection: Your policy pays a tax-free death benefit to help your family cover living expenses, debt, mortgage payments, and long-term financial needs.
- Convertible Policies: Many plans let you convert to permanent life insurance later without any new medical exam, giving you flexibility as your life and health change.
- Simple & Straightforward: No complex features or surprises — just clear, affordable protection during the years you need it most.
How to Apply for Term Life Insurance
Applying for term life insurance with LifeSimple is quick and hassle-free. Here’s how it works:
Tell us About Yourself: Answer a couple of questions
Compare Rates: Review personalized quotes from top Canadian insurers.
Apply Online: Complete your application in just a few minutes.
Complete a Verification: Finalize your application with a licensed insurance broker.
Term vs. Permanent Life Insurance
| Feature | Term Life Insurance | Permanent Life Insurance |
|---|---|---|
| Coverage Period | Set Term(10 to 40 years) | Lifetime |
| Premiums | Lower | Higher |
| Cash Value | No | Yes |
| Convertible | Yes (with conditions) | Not Applicable |
| Death Benefit | Yes (if within the term) | Yes |
Companies we work with
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We Are Changing Lives
As a former prospect, and now a current client, I can confidently recommend them for all of your life and health insurance needs. The team at LifeSimple was delight to deal with. They provided excellent client service, insightful analysis, relevant and catered advice, and kept me informed and confident about the products and applications at every step.
We Are Changing Lives
LifeSimple is so invested in our success, and through telephone calls and emails they always did their best. I am now a happy customer, and thanks to their quick responses and hard work I now have insurance for me and my family. This was such a professional experience, and it makes me feel confident knowing that I have them taking care of me.
We Are Changing Lives
We were very pleased with the services provided by LifeSimple. The prices were competitive and their responses were prompt, even being over Christmas holidays. The whole process was made easy for us and we have peace of mind going forward now that we have our own life insurance.
We Are Changing Lives
10 out of 10! I cannot recommend LifeSimple enough! They kept us updated every step of the way through the process of getting us set up for our insurance, and we could never have done it without them. They found us the best possible deal and gave their recommendations without any type of pressure. If you are ever in the market for life insurance, LifeSimple should be your first choice to reach out to!
Protect Your Family Today
Give your family the financial security they deserve. Compare personalized term life insurance rates today — it only takes a few minutes.
Frequently Asked Questions
What is term life insurance?
Term life insurance provides coverage for a set period ranging from 10 to 40 years. It is simple and affordable and offers death benefit if the insured passes away during the term.
How much coverage do I need?
Term life insurance provides coverage for a set period (10 to 40 years). It’s simple, affordable, and pays a tax-free death benefit to your beneficiaries if you pass away during the term.
Can I convert my term life insurance policy to a permanent one?
Yes. Most term life policies available through LifeSimple are fully convertible to permanent Whole Life insurance. No medical exam is required, and your underwriting class stays the same—even if your health changes.
What happens if I outlive my term policy?
Your coverage simply ends when the term finishes. You can choose to renew at a higher rate, apply for a new policy, or convert to permanent insurance before your term ends (if your policy allows).
What factors affect the cost of term life insurance?
Your premium is based on several factors, including your age, health, lifestyle, smoking status, coverage amount, and chosen term length. Generally, younger and healthier applicants qualify for lower rates.
Protect What matters most to you
