Convenient Term Life Insurance in Canada

Compare quotes and get rates from Canada’s best term insurance companies.

What is Term Insurance?

Term life insurance is a cornerstone of financial security, offering affordable protection customized to specific life stages. It acts as a safety net, ensuring loved ones receive crucial financial support during unforeseen circumstances.

What is Term Insurance?

In Canada, term life insurance operates on a simple premise: paying premiums for coverage over a set period, typically 10, 20, or 30 years. If the policyholder passes during this term, beneficiaries receive a tax-free lump sum, providing vital financial stability during challenging times.

Flexibility and Affordability

Term life insurance premiums are significantly lower than those of permanent policies, making it an appealing option for budget-conscious individuals. Furthermore, term policies offer flexibility, enabling policyholders to select coverage lengths that suit their needs and financial constraints.

Factors Affecting Term Life Insurance Costs

Several factors impact term life insurance premiums, including age, gender, smoking status, health, lifestyle, and occupation. Understanding these variables empowers individuals to make informed decisions when choosing coverage.

Get Term Life Insurance Coverage

Speak to a Licensed Agent

Provide your Details

Get Covered

Practical Scenarios for Term Life Insurance

Term life insurance is particularly beneficial for various life stages and situations:

Growing Families

Expecting new parents can safeguard their family's financial future by securing term life insurance coverage. The death benefit can cover living expenses, childcare, and education costs, ensuring continuity in challenging times.


Homeownership often entails significant financial obligations, including mortgage payments. Term life insurance can alleviate the burden on surviving family members by covering mortgage costs and other financial responsibilities.

Business Owners

Business owners can protect their ventures and stakeholders by integrating term life insurance into their financial planning. In the event of the policyholder's death, the insurance payout can sustain business operations and facilitate seamless transitions.


Individuals approaching retirement age can use term life insurance to bolster their savings and provide additional security for loved ones. The death benefit serves as a financial cushion, covering expenses and ensuring a comfortable retirement for surviving family members.

Dual-Income Couples

Couples reliant on each other's income can benefit from term life insurance, safeguarding their financial stability in case of a partner's untimely death. The insurance payout helps maintain their standard of living and alleviates financial strain during tough times.

Parental Support

Adults providing financial support to aging parents can use term life insurance to guarantee ongoing care and support for their parents' well-being after their passing.

Marriage Protection

Newlyweds can use term life insurance to protect their spouses financially, ensuring they can maintain their lifestyle and cover expenses in the event of their partner's death.

Get Advice on a Deeper, Personal Level

Are you eager to discover how term life insurance could be the perfect fit for you?

Term life insurance offers invaluable financial protection for a specific period. Our team at Thomas C. Chan Financial Services is ready to guide you through the process and assess if it aligns with your needs and goals.

Schedule a free consultation today to explore your options further.