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   What is term life insurance?

   • Term life insurance is a form of life insurance that provides coverage for a set period of time — also known as the term. During this time, if you pass away, your family and loved ones can receive a lump-sum payout to help ease any financial burdens.

   What Is Term Life Insurance & How Does It Work? - Blue Cross of Canada

   www.bluecross.ca/life/term-life-insurance/what-is-term-life-insurance

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   Why do you need term life insurance?

   • Having term life insurance allows you to breathe easy, knowing if anything unexpected happens to you, your loved ones will be taken care of financially. Discover how you can put your mind at ease with life insurance coverage that protects your loved ones through every stage of life.

   What Is Term Life Insurance & How Does It Work? - Blue Cross of Canada

   www.bluecross.ca/life/term-life-insurance/what-is-term-life-insurance

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   Why is term life insurance a good choice?

   • Term life insurance is designed to provide financial protection during a specific period of time, when you may have higher levels of financial responsibility. That’s why you’ll find that term life insurance is a popular choice for families when they have children, mortgage payments, or other financial dependents. How does term life insurance work?

   What Is Term Life Insurance & How Does It Work? - Blue Cross of Canada

   www.bluecross.ca/life/term-life-insurance/what-is-term-life-insurance

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   Does term life insurance have cash value?

   • And, unlike most types of permanent life insurance, term life insurance has no cash value. Term insurance is a type of life insurance policy that provides coverage for a certain period of time, such as 30 years. If the insured dies during the time period specified in a term policy and the policy is active, then a death benefit will be paid.

   What Is Term Insurance? How Does It Work, and What Are the Types?

   www.investopedia.com/ask/answers/08/term-life-insurance.asp

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   Should I buy term life insurance?

   • Here are some reasons you might want to buy term life insurance: You have a partner who relies on your income. You have or are expecting children with current (and future) childcare or tuition costs. You have financial dependents, such as elderly parents or minor children. You have outstanding debt, such as a mortgage or a large loan.

   7 Questions to Ask When Buying Term Life Insurance in Canada

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

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   Do you need life insurance?

   • The verdict: No. “You do not need life insurance [in this case],” says Marr. However, let’s say Katrina wanted the reassurance of leaving money behind. That would be one reason to consider term life insurance or whole life insurance. A term life insurance policy, in particular, might be a better fit for someone like Katrina, for a few reasons:

   Do I really need life insurance? - MoneySense

   www.moneysense.ca/spend/insurance/life-insurance/need-life-insurance/

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

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

   • Cached

   Term life insurance is a form of life insurance that provides coverage for a set period of time—also known as the term. During this time, if you pass away, your family and loved ones can receive a lump-sum payout to help ease any financial burdens.

3. 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

4. Videos

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5. www.investopedia.com › terms › tTerm Life Insurance: What It Is, Different Types, Pros and Cons

   www.investopedia.com › terms › t

   • Cached

   Oct 21, 2024 · Term life insurance is a guaranteed life benefit paid to the insured's beneficiaries after death. Policies last for a specified term, usually 10, 15, 20 years or more.

   • Author: Julia Kagan

   • Video Duration: 2 min

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

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

   • Cached

   Not everyone necessarily needs life insurance, but it can be extremely beneficial for most adults. Here are some reasons you might want to buy term life insurance: You have a partner who relies on your income. You have or are expecting children with current (and future) childcare or tuition costs.

7. www.moneysense.ca › need-life-insuranceDo I really need life insurance? - MoneySense

   www.moneysense.ca › need-life-insurance

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   Jul 29, 2022 · Why you may not need life insurance. If you’re single, with no dependents or debts, and have enough savings and assets to cover all your end-of-life expenses, then it’s probably not...

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8. www.sunlife.ca › en › insuranceTerm Life Insurance | Sun Life Canada

   www.sunlife.ca › en › insurance

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   May 13, 2024 · Term life insurance is an affordable life insurance policy that gives you financial protection for a set period of time. You get to choose how long you want your term policy to last – it can be anywhere between 5 to 40 years.

9. www.investopedia.com › 08 › term-life-insuranceWhat Is Term Insurance? How Does It Work, and ... - Investopedia

   www.investopedia.com › 08 › term-life-insurance

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   Jul 30, 2024 · Term life insurance is a type of life insurance policy that provides coverage for a certain period of time, or a specified “term” of years. If the insured dies during the time period specified...