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Term life insurance

A young mother talks to her young son as she wraps a towel around him after his bath.

Affordable, simple coverage

Term life insurance can cover expenses if you’re no longer there to support your family, at a low cost.

What is term life insurance?

It’s coverage that lasts for the selected period and automatically renews in most cases. Canada Life offers a choice of 10, 20, 30 or to age 65 term products. Premium payments are set at an initial low cost and won’t change during that period. If you die while your policy is active, your beneficiary will receive a tax-free payment.

  • Affordable coverage

    Payments don’t change for the period you choose.

  • Flexible options

    Choose the period of coverage that best fits your needs.

  • Gift of life insurance

    Your insurance payout goes to whoever you choose, tax-free.

Talk to an advisor to learn more

Why do I need term life insurance?

Help loved ones so that they can be taken care of now and in the future.

  • Growing your family

    Help make sure the people you love are protected.

  • Buying a home

    Term insurance can cover debts like a mortgage.

  • Getting married

    Protect your spouse and the plans you’ve made for the future.