Term insurance can provide cost-effective insurance protection: whether for a limited time-period or for life. This may be a term that is determined by the length of a mortgage or until your children have become self-supporting adults and higher education expenses have been paid. Many people purchase term life insurance to provide income protection up to the time of retirement or until they fully qualify for CPP, pension, and RRIF payments.

Although it does not offer cash values, a term policy usually can be renewed when the term ends, or converted to permanent or universal life insurance, depending upon the policy you choose and your age at the time. With different lengths of terms available, term policies ensure you the protection you need for as long as you need it.

Premiums for term life insurance provide protection for the term of the life insurance contract. Life insurance benefits are provided when there is a claim during that period. Once the period ends, so does the life insurance coverage.

Term life insurance rates have dropped over the past few years. No one knows how long this trend will continue. This may be the perfect time to buy term life insurance or compare your current term life insurance premiums to those available today.

Highlights of Term Coverage:

• Cost-effective coverage:
  Because you are paying only for coverage, and not creating a cash value within the plan, your insurance costs are minimized.
• Flexible coverage options:
  Term coverage for five, ten, fifteen, 20 or up to age 100 can be issued as individual policies.
• Renewable and Convertible:
  Depending on your policy and attained age, you can renew your policy for another term, or convert it to permanent or universal life insurance.