The loss of someone important can have devastating emotional and financial consequences on the well-being of the family, loved ones, and business partners they leave behind. These are worse when the death is sudden, leaving dependents to deal with funeral expenses, unpaid bills, and the long-term loss of family income. It has become good practice for individuals, to secure their future with a comprehensive, such as parents and even young professionals, to secure the welfare of their loved ones with a comprehensive life insurance policy that provides for both urgent and long-term financial concerns.

Which type of life insurance is best for you? Term life insurance provides a simple, affordable, and straightforward solution to the long-term financial health of your loved ones. Best of all, you set the terms for it — you pay a fixed amount of premiums over a specific period in your lifetime. This equips you with affordable and reliable insurance coverage when you need it most.

What Is Term Life Insurance?

Valued for its flexibility and affordability, term life insurance guarantees consistently priced insurance premiums paid over a set period. This ensures reliable coverage that’s easy to budget for, rather than constantly shifting insurance costs to reflect your changing status or condition. The term options for this policy are long and comprehensive to ensure complete coverage during your peak years of risk and activity, but may also be renewed upon expiry.

Term life insurance pays out a tax-free benefit to your identified beneficiaries in the event that your death occurs while the policy is in effect. This amount depends on the limits specified in your policy and may be updated or customized to meet your changing needs.

Term Life Insurance Options

This affordable insurance plan is designed to protect Canadians at various stages of life. Options are available for between 10 – 40 years, with various limits for death benefits based on the financial needs of dependents whose future you need to secure. Monthly premiums are guaranteed to remain fixed throughout these terms and are based on an assessment of your current health, lifestyle, and risk factors that impact your quality of life.

Is Term Life Insurance Right For You?

This affordable but comprehensive financial protection plan offers generous benefits at fixed, low-cost premiums. This is best for Canadians who want the most cost-effective way to preserve the financial security of their family.

Term life insurance is also a great initial investment for young professionals just starting out in their careers, as this equips them with affordable protection. At the same time, they accumulate assets, as well as those who need to cover a mortgage or business loan. For business owners, a comprehensive term life insurance plan also allows them to fund buy/sell agreements and afford key person protection for shares.

Ask Our Brokers

At Archway Insurance, our brokers are committed to helping you secure the financial future of your loved ones. That’s why we work with major insurance providers to equip you with a comprehensive term life insurance plan tailored to your needs, lifestyle, and budget. This knowledge can be the difference between leaving your loved ones, family, or business partners well-positioned financially or scrambling to deal with financial uncertainty.

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