In Canada, there are four main types of life insurance to consider:

• Term Life Insurance: Provides coverage for a specific period, ranging from 1 to 40 years. You can renew, convert, or let the policy expire after the term.
• Whole Life Insurance: Offers coverage for your entire life, requiring continuous premium payments. While more expensive than term insurance, it may be suitable for high-net-worth individuals.
• Universal Life Insurance: Combines life insurance protection with a savings component. It's a permanent policy but is more complex and requires ongoing monitoring.

• No Medical Life Insurance: Also known as guaranteed or simplified issue life insurance, it doesn't require a medical exam or health questions. A popular choice for those with health issues or declined for traditional policies.

The right time for life insurance depends on your situation and goals. It's often smart to get it when you have dependents or big financial responsibilities, like having kids or buying a house. Getting it earlier means lower costs, as premiums go up with age. This way, you secure financial protection for your loved ones and may save money in the long run.

The need for additional insurance depends on your current coverage. Supplemental insurance is often necessary to reach full disability income or secure your family's financial future in case of critical illness or death. Our free policy review ensures you have the right amount of coverage—neither too much nor too little—to protect you, your family, and the future.

Life insurance costs vary, ranging from $15 to $100 per month on average. Factors like age, gender, smoking status, health, lifestyle, and policy type influence the exact price. Term life insurance averages $34 per month in Canada based on industry data. Younger and healthier individuals generally have lower premiums. While cheaper isn't always better, our qualified experts can help you secure a good policy tailored to your needs.