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Term life insurance

Affordable life insurance to protect your family’s financial future, for as long as you need.

What is term life insurance?

Term life insurance is a simple and affordable Canadian solution that provides tax-free payments in the event of death. This coverage is particularly helpful if you have a mortgage in Canada, or if you are a parent to young children and want to provide financial support for their needs until they are independent. Term life insurance is available to all Canadian citizens and newcomers to Canada.

How does it work?

To purchase term life insurance, simply:

  • Contact a financial security advisor to evaluate your needs
  • Choose the length of coverage that best fits your situation
  • Ask about additional options for critical illness or disability protection, if needed

With term life insurance, you’ll have peace of mind knowing your loved ones are protected. And at the end of the term, you’ll even have the option of renewing your term life insurance or converting it to permanent life insurance.

Advantages of life insurance


Because the protection is fixed, you’ll benefit from higher coverage and lower premiums than permanent life insurance.


Your premiums and coverage won’t change for the entire term. At the end of the term, you can renew your coverage or choose another kind of insurance.


The coverage period can range from 10 to 40 years, which lets you choose insurance coverage that meets your changing needs.

2 types of insurance designed for your needs

Access Life

This term life insurance is designed for people who have difficulty getting insured, because of their age, their health or where they are from.

What do we offer

Offered for 15, 20 or 25 years.

Access Life is simple and easy to apply for because there is no medical exam required. You only have to answer a few questions about your current health condition.

Find out about Access Life


Pick-A-Term is designed primarily for young families who have many financial commitments and who want to maximize their life insurance during the time when their children are financially dependent.

What do we offer

Offered for 10- to 40-year periods, based on your financial commitments.

Pick-A-Term is very flexible and covers all of your loans (mortgage, line of credit, car loan, etc.).

Find out about Pick-a-Term

Have you ever been able to predict the future?

Neither have we! There are many myths about life insurance and we are here to dispel them.

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Protections adapted to your needs

Gianna, age 26

  • Specialized educator
  • Single, lives in an apartment
  • Female, non-smoker

Young professional and recent graduate, Gianna would like to take out a term life insurance policy while she is young and healthy. She would like to protect her family from her student and car loan debt.

The solution

$ 9 / month

Pick-A-Term T10 (a duration of 10 years)
Coverage: $100,000

Max, age 35

  • Computer engineer, self-employed
  • Owner of a townhouse in his hometown with his spouse
  • Male, non-smoker

Max recently purchased a home with his spouse and would like to start a family soon. He wants to protect his investments and guarantee his family’s security.

The solution

$ 45 / month

Pick-A-Term T20 (a duration of 20 years)
Coverage: $750,000

Sylvie, age 50

  • Works at an accounting firm
  • Single mother of two teenagers
  • Female, non-smoker
  • Pre-retired

Sylvie wants to cover her needs until her two children leave home. She wants to leave her family a debt-free inheritance in the event of her premature death.

The solution

$ 61 / month

Pick-A-Term T15 (a duration of 15 years)
Coverage: $350,000

Compare our term life insurance products

Access Life Pick-A-Term
No medical exam
Fixed premiums
Guaranteed renewal
Option to convert to permanent life insurance Before age 71 Up to age 71
Coverage period 15, 20 or 25 years 10 to 40 years
Face amount Up to $500,000 Up to $10,000,000
Tax-free death benefit

Frequently asked questions

The cost of term life insurance can depend on a number of factors, such as the coverage amount or the age of the policyholder.

There are several stages in your life when you should consider term life insurance. For example:

  • When expecting a child, to protect their financial security until adulthood or the end of their studies
  • When buying real estate, to cover your mortgage until the loan is paid
  • When starting a business, to cover operating costs, debts or other expenses in the event of your death

These are just a few examples. Don’t hesitate to discuss them with your advisor, who can offer you a solution specifically tailored to your needs.

It all depends on why you’re getting the insurance.

For example, if the purpose of your term life insurance is to cover your mortgage in the event of your death, you could opt for an insurance amount that covers your entire mortgage balance, or even more.

Other factors can also be taken into account, such as other debts, the income needed to support your family, money for your children’s education, etc.

In all cases, it’s best to consult your advisor. They’ll be able to accurately assess your needs and recommend the most appropriate coverage amount for your situation.

Your insurance term again depends on your specific personal or business needs. If you’re looking for term insurance that can provide financial security for your family until your children are on their own, you might choose a term of 20 or 25 years. If you’re looking to protect a real estate investment, you could opt for 25 or 30 years.

We offer terms ranging from 10 to 40 years to meet a variety of needs. Don’t hesitate to ask your advisor about the options available.

If you want to extend your life insurance coverage, you have several options. Depending on your situation at the end of the term, you can opt to renew your coverage for an equivalent term, choose an annual renewal option or convert your term insurance to permanent coverage, all without any medical exams.

No, unlike permanent (or whole) life insurance, term life insurance has no cash surrender value.

The main disadvantage of term life insurance is, as the name suggests, that it is temporary. It may therefore not be suitable for someone who needs permanent life insurance.

It also offers no cash surrender value.