Life insurance – 10 Year Term
Need a loan, a line of credit or a business loan? A 10 Year Term Life Insurance policy could be just what you’re looking for.
Get A Quote10 Year Term Life Insurance is ideal for people that need short term life insurance.
Have consistent coverage for a select amount of time.
Here’s a bit more about our 10 Year Term Life Insurance:
Who It’s For | Recommended for individuals with short loans, or those requiring Life Insurance coverage for a short period of time. It can also be used to bridge the gap of an expiring Term product for ten years to provide coverage until a financial responsibility is met. |
Who It’s Not For | It is not recommended if you feel you will require more than 10 years of coverage. |
Eligibility | Minimum amount of $25,000. For Canadians, permanent residents or people with a valid work visa, from 18-70 years old. Ideal for individuals with short term loans or debt, or individuals who cannot afford longer term coverage. |
How It Works | It’s taken out for a 10-year period with the option to renew at the anniversary of the policy. |
Benefits | This is the lowest premium Term product available. It is a non-taxable benefit unlike investments. It can also be converted to a permanent insurance product. You can cancel at any time. |
Disadvantage | This policy only provides coverage for a certain period. Although it is renewable, renewal premiums can be quite high and are not advantageous past 10 years. |
Yes, you are one of a kind.
Term life insurance pricing is based on the smoking status, gender, lifestyle, health, and the age of the individual applying for coverage. If there is a history of medical issues, high risk occupation, or even a conviction for reckless or drunk driving, prices for life insurance can be rated for the increased risk.
What Life Insurance is all about.
Term Life Insurance is a product designed to protect individuals of financial burden in the event of an unexpected death. It is a tax-free lump-sum predetermined payment provided to your named beneficiaries after your death.