Term Insurance Policies Benefits in Canada
Term Insurance is a type of life insurance which is the least expensive among life insurance. Term insurance protects against death during periods of 5, 10, 20 years. This is not a cash plan unlike the whole life insurance policy. The advantages of these plans are they are affordable and they can be renewed for further periods or they can be converted into permanent life insurance policies. The insurance covers provided by term plans are in the range of $250,000 to $5,000,000. You have to answer a few simple questions about your health to insure yourself in these plans.
Benefits Of Term Insurance Policies
• In Canada it is 100% tax-free for premium paid.
• 10-day money-back guarantee.
• Late payment grace up to 30 days.
• Trust of Canadian insurance companies association.