Good term life insurance is insurance that meets your needs at the lowest possibe cost.
One can purchase Canadian term insurance at various on-line insurance companies. For example Sun Life Canada and Canada Life both have this product available.
Term life insurance refers to a common category of life insurance in which fixed payments are offered for a limited time (or term). If the person dies outside of the term, they receive no payment.
Term life insurance is basically a basic cheap insurance plan. You have to be under 80 to easily get this insurance. Some companies quotes cost a small fee but others are free.
30 year term life insurance usually costs about $10,000
Transamerica Life Canada provides a number of services including term life insurance, critical illness insurance and permanent life insurance. They also specialize in investments such as segregated funds and annuities.
If you are looking for life insurance, and want to ensure you receive the best deal, you should compare prices of other companies. IDC Insurance Direct Canada offers a website to compare the rates for various life insurance plans of a number of companies.
Term Life Insurance
Several companies offer life insurance without the need for a health exam in Canada. Some options include Canada Protection Plan, Manulife Financial, and RBC Insurance.
You can get some good information on Term life insurance at the online Wikipedia. They give information on the Usage, annual renewable term, level term life insurance, payout likelihood and cost difference's, and references.
Whole life insurance does come with several benefits. I would personally suggest term life insurance the the cost savings.
Cost. Other than that, there are no advantages. Whole life insurance lasts your whole life. It pays upon your death a predetermined amount. Once the designated term on term life expires, you have no more life insurance. Term will be significantly cheaper depending on your age.