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1. www.canadalife.com › insurance › life-insuranceWhat happens when my term life insurance expires? - Canada Life

   www.canadalife.com › insurance › life-insurance

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   Feb 23, 2024 · In most cases, you can convert your Canada Life My Term™ policy to a permanent plan any time after the first anniversary of the policy. If you bought your policy at age 69 or older, you can convert to any such plan in the first 2 years. Your premiums will be based on the coverage you choose.

2. www.bluecross.ca › life › term-life-insuranceWhat Is Term Life Insurance & How Does It Work?

   www.bluecross.ca › life › term-life-insurance

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   When the term on your term life insurance comes to an end, your coverage simply expires. Before it expires, you have a few options: you can decide if you want to renew your policy, buy a new one, convert to a different type of life insurance, or cancel your coverage.

3. Videos

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     This is What Happens When YOUR Term Life Insurance Expires!

     Jun 3, 2022

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     Term Life Insurance Explained

     Dec 30, 2020

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     What happens When Term Insurance ENDS, WILL I Get My Money Back ????

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4. www.bluecross.ca › life › term-life-insurance7 Questions to Ask When Buying Term Life Insurance in Canada

   www.bluecross.ca › life › term-life-insurance

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   If you’re still living when your term life insurance policy ends, it simply expires. Depending on your life situation when your policy term comes to an end, you may decide that you still need life insurance coverage. When your policy term ends, you can: Renew your term life insurance policy. Apply for a new policy.

5. www.ratehub.ca › blog › what-to-do-when-your-termWhat to Do When Your Term Life Insurance Expires - Ratehub.ca

   www.ratehub.ca › blog › what-to-do-when-your-term

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   Jun 21, 2022 · This can range from 10 to 30 years, in most cases. If you were to pass away during the term, your beneficiaries would receive a lump sum, tax-free payment. This can go towards helping pay for final arrangements and support your beneficiary’s financial needs. The money can be spent on whatever the beneficiaries decide.

   • Author: Rubina Ahmed-Haq

6. www.moneysense.ca › term-life-insuranceWhat is term life insurance and how, exactly, does it work?

   www.moneysense.ca › term-life-insurance

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   • Term vs Whole Life Insurance
   • Should You Buy 10- Or 20-Year Term Life Insurance?
   • Comparing Term Life Insurance Quotes
   • What Your Health Has to Do with It

   Unlike term life insurance, whole life insurance provides coverage for the duration of your life, as long as you continue paying your premiums. “Each option offers its own benefits, and the coverage that would be recommended would depend on the reason the insured is seeking life insurance,” explains Adam Mitchell, president of Mitchell & Whale Insu...

   See full list on moneysense.ca

   Mitchell says the answer to that question depends on your needs for insurance. If you need it to cover a short-term debt obligation that you will have repaid in 10 years or less, the 10-year term may be more beneficial, as it will offer the coverage you need at a lower premium. On the other hand, if you’re likely to have the debt for more than 10 y...

   See full list on moneysense.ca

   Your health, age and gender play critical roles in determining what the cost of term life insurance will be for you. This table gives you an idea of the price averages, based solely on the length of the term. To save money on term insurance, you are likely to get the best deal if you buy when you’re young-ish and are in good health. Estimates based...

   See full list on moneysense.ca

   Mitchell says if you have underlying disabilities or conditions, you should discuss it with your insurance broker, who can inform you about how that may impact their premium or eligibility to obtain a policy. Does term life insurance cover disability? It doesn’t, as term disability insurance is a separate policy. “Some policies may offer a small am...

   See full list on moneysense.ca

7. protectyourwealth.ca › term-life-insurance-expiresWhat To Do When Your Term Life Insurance Expires

   protectyourwealth.ca › term-life-insurance-expires

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   Aug 14, 2024 · If your life insurance policy is ending or has ended, your options could be extending your current policy, converting to a term-100 policy, or to look for a different insurance policy such as a different term policy, permanent policy, or a no-medical or guaranteed life insurance policy.

8. www.nerdwallet.com › what-is-term-life-insuranceTerm Life Insurance: What It Is and How It Works - NerdWallet

   www.nerdwallet.com › what-is-term-life-insurance

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   Apr 5, 2024 · Unlike whole life and other types of permanent life insurance that may last your entire life, term life insurance coverage typically expires when the term ends. This means that if you...