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Note, for some companies your age changes at your birthday, but for most your age change is six months past your birthday. So if you were born January 2 and today is July 1, you're actually a year older for insurance premiums (since the age changed June 2).
You want personal term life insurance (preferably 20 or 25 yr term). The purpose of the term isn’t necessarily to cover the mortgage payments but to replace your lost income for your family should you die and your beneficiary decides what happens with the money.
For you age and your healthy, you can easily get a $1M term life for 20yr term, non smoker for $50 a month and $35 a month for female non smoker. Assess what amount you need and for how long. https://www.advratings.com/insurance/top-insurance-companies-in-canada
Aug 14, 2024 · What is the age limit for life insurance in Canada? In Canada, the maximum age limit for purchasing life insurance is between 75 and 85. For term life insurance, you can continue to renew your policy until you reach 85 years of age.
Full review: Best Life Insurance Rates in Your 30s. Middle-Aged Applicants See Rates Rise. Applicants in their 40s.
Yes, there is. For term life insurance in Canada, the age limit is typically around 75. This means you can buy or renew a policy until you hit that age, but not after. Term life insurance is designed to cover you during the years you’re most likely to need financial protection, like when you have a mortgage or dependents.
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Jan 5, 2021 · 1 - 2 of 2. Term life insurance is the most straightforward type of policy. It offers temporary coverage and pays a one-time lump sum to your beneficiaries when you die within the term. Thanks to its lower premiums, it’s the best choice for shoppers who have financial dependents but only need life insurance for a specific period of time.
