An affordable life insurance policy that provides financial protection for a specific time period is term life insurance. You can choose for yourself the period of your term policy, be it 10, 15, 20, or 30 years. The beneficiaries of your term life insurance policy will get the death benefit in case you pass away while your policy is active. Your heirs will receive a tax-free lump sum payment which they can use whichever way they want.
Term life insurance can be a smart, logical choice for many young people and families just starting.
Term Life Insurance Benefits:
Your premiums remain fixed and do not change during your term.
You get instant temporary coverage from most of the plans.
You can convert to permanent life insurance at any time you want.
Assured death benefit or tax-free payment that stays the same.
No, you don’t have to be a citizen of Canada to apply for term life insurance in Canada. But it is a must for you to be living in Canada legally to buy any of our life insurance products.
Contact Canadian LIC to get access to the best insurance brokers, and if you want to go for a term life insurance policy, then take the suggestion of an expert term life insurance advisor from Canadian LIC today before making your decision.
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