Term Life Insurance

Here at Life Insurance Pro, peace of mind and security are paramount. Just as we diligently maintain our health with regular exercise and nutritious eating habits, Term Life insurance offers a similar sense of assurance. However, despite these precautions, a notable portion of individuals still grapple with financial insecurities. A study conducted by Statistics Canada in 2023 revealed that 1 in 4 Canadians would face financial challenges if they were faced with an unexpected $500 bill. With current debt levels soaring to unprecedented heights, safeguarding your family's financial stability becomes imperative. At Life Insurance Pro, we extend our assistance to address these concerns.

Our Term Life insurance policies offer the certainty you seek, guaranteeing fixed premiums and uninterrupted coverage. Select a duration that aligns with your needs, whether it's 10, 20 years, or beyond. Many policyholders opt for these terms to alleviate potential burdens for their beneficiaries, such as consumer debt, a child's college education, or homeowner loans. In the event of your passing during the fixed term, our Term Life insurance ensures your beneficiaries receive a tax-free lump sum, providing much-needed support during challenging times and leaving behind a cherished legacy.

Choosing the right coverage hinges on various factors, including age, lifestyle, income, and family size. At Life Insurance Pro, we are dedicated to guiding you through this decision-making process.

Reach out to us by completing the contact form to receive a complimentary, no-obligation quote, and we'll promptly assist you.

Our Reviews

Excellent

4.8

★

Based on 675 reviews from

★★★★★

Ofir was very helpful and thorough in advising and organizing our trip cancellation insurance for un upcoming trip to Africa.

Sheryl Dobenko

★★★★★

Dornanz was vey helpful and went out of her way to find us the best policy.

Colleen Butler

★★★★★

Great at what he does!

Rita Roy

★★★★★

Dornaz has been very helpful tailoring my insurance policy to suit my specific needs. She was prompt in replying to my messages and questions. Thank you, Dornaz

Richard Humphries

★★★★★

I purchased travel insurance from Dornaz several times.She is very knowledgeable and takes time to explain all concerns I would have.I would highly recommend her to anyone who needs to purchase travel insurance.Ivana

Ivana Gremo

★★★★★

For was very patient and helpful

cathy othmer

★★★★★

I appreciated Shiwani patience. She was easy to understand and very helpful when I was concern about my transition. 👍

Diane Roy

★★★★★

Great experience

Frank Spencley

★★★★★

We bought multi trip ins. today with Artmiiz . Tried different compa nies need to say we found Artmiz very informative patient and professional. Thank you.

anthony schiavone

★★★★★

Ofir Mizrahi was very helpful and answered all our questions professionally.

Bruno Settimi

★★★★★

We dealt with Ofir who was pleasant to speak with and met all our needs.

Shirley Watkins

★★★★★

Very professional and friendly service. Made it easy!

Sally Orviss

★★★★★

Martin was patient and efficient in providing our travel medical insurance.thankyou!

Craig Baker

★★★★★

Martin was an amazinging agent! He was very patient in explaining the different plans to myself and my husband. He followed up and answered all our questions.

Franca Zagarrio

★★★★★

Sahar, the Lady who assisted me over the phone has helped me to purchase an emergency medical insurance for my wife’s traveling to the US for a few days attending the AGT on Sep 15 and Sep 16, 2026.I have found Sehar to be a customer oriented professional who has great knowledge and patience to explain to me the importance of buying an emergency medical insurance.I would like to thank her and I will recommend Sahar to all my friends who would like to know more about insurance. Thanks Sehar!

kayiu

★★★★★

Great customer service. I called a few weeks ago, got a quote and received it by email. I called today, left a message, Ofir called right back. He was able to get even a better price so we completed the purchase. Very happy with Ofir's service, friendly and very helpful.

Jan Regnier

★★★★★

Artmiz Namazi helped me many times in my travels. Always respond quick and make it easy for me. Thank you 😊

R J

★★★★★

Dornaz was very helpful and professional in her service. Thank you.

Steven Frey

★★★★★

I received a great fast detailed service.Thank you

Maria Schmid

★★★★★

Dornaz focuses on the client needs and requirements outlining the timetable for the policy and the coverages. Exceptional followup after we initiated contact. I would recommend Dornaz to anyone exploring the option of Travel Insurance. We actually did!R & D

Dia Aiello

★★★★★

Dornaz made my experience exceptional. I would buy again through her

Rita Robson

★★★★★

Dornaz helped me and she was amazing! She explained the policy to me and told me what to do if I ever had a claim.

Sandy Vine

★★★★★

I googled medical travel insurance Sehar called me back and was able to get what I wanted/ needed I highly recommend her, very knowledgeable. Thank you Sehar for doing such a great job

Reg Howard

★★★★★

Very patient answering my numerous questions.

Jeanne Jeannie

★★★★★

Dornaz is very polite and professional her assistance in obtaining travel insurance was extremely helpful. Dornaz is our go to travel insurance advisor.

dale FlyGuy

★★★★★

The agent was very pleasant and knowledgeable. Dornaz had my qoute ready quickly and was very easy to deal with.

Susan Carr

★★★★☆

Muhammad was very helpful

CHERYL SMITH

★★★★★

The agent who provided me with the information I needed and walked me through the procedure for getting the travel insurance was Ofir. He was most helpful. Thanks.

Isabell Phelps

★★★★★

I was impressed with your representative. She was patient, informative and helpful. I was a novice at obtaining travel insurance and Sehar guided me through the whole process. Would recommend her to anyone asking me for a travel insurance recommendation.

Carol Shogilev

★★★★★

Excellent service and Dornaz was extremely helpful for getting my son travel insurance to the US.

miles clarke

★★★★★

I found Artmiz from Alliance Income Service, who assisted me and she is very helpful, friendly, knowledgeable. I have been purchasing several travel insurance from her. Never had I run into a problem and she actually helped me to connect with insurance while I was in outside the country. I highly recommend her. Thank you Artmiz for helping to find a lowest rate. It was a pleasure doing business with you.

★★★★★

After checking with 5 other travel/accident/ health insurance companies, I chose Alliance Income due to the extent of coverage as well as price which were best in class. In particular Karen Wright-Ebanks was excellent. She took the time to clearly explain all of the features and followed up. We will definitely be using this company and working with the same agent again.

Al MacNeil

★★★★★

Sehar provided a quick response to my request for a travel insurance quote and then proceeded to assist with booking and payment. Thank you Sehar!

Patti Brewin

★★★★★

I can honestly see I was worried about getting travel insurance for myself and finding a reasonable price❣️😊 I didn’t have to ask her to look into other companies for pricing to compare. She just automatically did and I couldn’t be happier with going through this company. I would recommend it to friends and family.❣️😊

Marge Rusnak

★★★★★

I request quotes from the company re travel insurance and dealt with agent, Theresa Heuser, she was very informative and knowledgeable of the packages offered by Alliance Income Services. She made my inquiry very easy and straight forward to understand.

Don LeBlanc

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At Life Insurance Pro, we understand the paramount importance of family. Our top-tier insurance policies empower you to consistently support your loved ones, ensuring financial stability even in your absence.

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Here’s Why Canadians Need Life Insurance

Life Insurance serves as a protective shield for your dependents in the event of your death. This shields them from financial struggles and enables them to maintain their accustomed quality of life. Life Insurance becomes indispensable when your spouse, children, or other loved ones rely on you financially. Depending on the coverage selected, your Life Insurance policy can assist in covering or completely offsetting expenses such as funeral costs, outstanding debts, and even provide a steady income stream to your beneficiary. Furthermore, certain policies offer the flexibility to access your accumulated premium payments when needed. However, it’s crucial to note that failing to repay the withdrawn amount may result in a reduced payout upon your passing.

Types of Life Insurance in Canada

The primary Life Insurance policies in Canada consist of Permanent Life Insurance and Term Life Insurance.

Permanent Life Insurance

Also referred to as “whole life insurance” Permanent Life Insurance offers coverage for your entire lifetime. These policies guarantee a payout to the beneficiary upon the insured individual’s passing, provided that premiums have been consistently paid. They may also accrue cash value over time. With Permanent Life Insurance, premiums typically remain fixed.

Term Life Insurance

Term Life Insurance provides coverage for a specified period, typically ranging from 10 to 30 years. In the event of the insured individual’s death during this period, the policy pays out to the beneficiary, subject to premium payments. Term policies do not accumulate cash value, and premium rates may increase upon renewal.

Participating Whole Life Insurance

Similar to Permanent Life Insurance, Participating Whole Life Insurance offers lifelong coverage and a guaranteed payout to beneficiaries upon the insured individual’s death. These policies may generate dividends, providing an additional source of income. Premiums are usually fixed.

Universal Life Insurance

Universal Life Insurance offers flexibility in both coverage and premiums. Policyholders can adjust coverage amounts and premium payments over time to suit their changing needs. These policies provide a death benefit and may accumulate cash value, depending on investment performance.

Tips for Saving Money on Life Insurance

To maximize savings on Life Insurance, there are many different ways you can reduce your monthly premiums.

Compare Rates

Obtain quotes from multiple insurers to find the most competitive rates. Life Insurance Pro streamlines this process by providing quotes from major Canadian insurers.

Consider Your Age

Purchasing Life Insurance at a younger age typically results in lower premiums. Act before your next birthday to avoid increased rates.

Maintain Good Health

Individuals in good health qualify for lower premiums. Apply for a fully underwritten policy to secure favourable rates.

Quit Smoking

Smokers may face significantly higher premiums. Quitting smoking can lead to substantial savings on Life Insurance premiums and improve overall health.

Review and Renew

Regularly review your policy to ensure it meets your current needs. Consider converting Term Life Insurance to Permanent Life Insurance for continued coverage.

Term Life Insurance FAQ’s

Explore our FAQ section for quick answers to common questions about life insurance coverage, premiums, and policy management.

There are two primary types of life insurance policies available: Permanent Life Insurance and Term Life Insurance. Permanent policies ensure a payout to the beneficiary upon the insured’s passing at any time, provided that premiums have been consistently paid. Conversely, term policies pay out benefits only if the insured passes away within the specified duration of their policy.

Certainly. A beneficiary is the individual who receives the cash value of your death benefit. When purchasing your Life Insurance policy, you’ll need to name this person. You have the option to name multiple beneficiaries and allocate the cash value of your policy among them equally or based on a predetermined percentage. This flexibility is beneficial if, for instance, you intend to distribute the money among your children. In the event that a beneficiary predeceases you, you can designate a contingent beneficiary to take their place. Additionally, you have the option to select a charity as a beneficiary if desired.

The amount of coverage required depends on your preferences for your loved ones’ financial security and your current financial circumstances. Financial advisors typically recommend obtaining coverage equivalent to at least 10 times your annual salary if you are the primary breadwinner and have mortgage debt. Fortunately, increasing your coverage amount generally has a minimal impact on premiums. The cost of life insurance is determined by the level of coverage and benefits you seek, along with the age and health status of the insured individual. Young and healthy individuals in Canada may pay as little as $30 per month in premiums, but rates tend to rise with age and health concerns. That’s why it’s advisable to secure a life insurance policy while you’re still young and in good health to potentially lock in lower rates.

Yes, in most cases, you can change your beneficiary after purchasing a life insurance policy. Many insurers allow policyholders to update their beneficiaries by submitting a beneficiary change form. It’s important to keep your beneficiary designation up to date, especially after significant life events such as marriage, divorce, or the birth of a child. Be sure to review and update your beneficiary information regularly to ensure your wishes are accurately reflected in your policy.

If you miss a premium payment, your life insurance policy may enter a grace period during which you can still make the payment without penalties. However, if the payment is not made within this grace period, your policy may lapse, resulting in loss of coverage. Some insurers offer options to reinstate lapsed policies, but this may involve additional fees or medical underwriting.

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