Common options to compare
Term Life Insurance
Affordable protection for a fixed period such as 10, 20, or 30 years.
- Often used for mortgage, income replacement, or family protection
- Usually lower initial cost than permanent insurance
- Coverage ends or renews at the end of the term
Whole Life Insurance
Permanent coverage with level premiums and potential cash value.
- Lifetime coverage if premiums are paid
- May include guaranteed cash values depending on plan
- Often used for estate planning and long-term protection
Universal Life Insurance
Flexible permanent insurance with investment-style account options.
- Lifetime coverage with flexible premium structure
- Can support long-term savings and estate planning goals
- Requires careful review and ongoing management
What to keep in mind
- Medical and family history questions help determine eligibility and premium class.
- Term, whole life, and universal life serve different needs; a licensed advisor should review suitability.
This page is for general information only. Availability, eligibility, pricing, covered benefits, exclusions, and underwriting rules vary by insurer, province, age, health, and policy wording. A licensed advisor should review your needs before you buy coverage.