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 465 reviews from

★★★★★

Sehar Bajwa was the agent with whom I spoke. She was very helpful and efficient. I was also quoted Travel Cancellation and Interruption Insurance by two other agents at different companies. I went with Sehar because she provided me with the most thorough information and an excellent rate.

estolte

★★★★★

Wow what a great experience these guys are so knowledgeable.

steve R

★★★★★

I recently had the pleasure of working with Dornaz at Allianz global assistance who helped me secure health and dental insurance, and I couldn't be more satisfied with the experience. From the moment we started the conversation, she was incredibly knowledgeable and attentive to my needs. She took the time to explain all my options clearly, ensuring I understood the details of each plan.What stood out the most was Dornaz’s patience and willingness to answer all my questions, no matter how small. She made the entire process smooth and stress-free, guiding me through all the process and making sure I felt comfortable with my decision. Thanks to her expertise, I feel confident that I chose the best health insurance plan for my needs. I highly recommend Allianz Global assistance services to anyone looking for reliable and friendly assistance in navigating health and dental insurance options! From my experience, Allianz Global assistance is the best insurance company outta here!

Parfiano

★★★★★

Agent was very pleasant and efficient in providing an immediate quote

Tom Smith

★★★★★

I was researching for a travel emergency medical plan for seniors. Allianz was on my list but I hadn't made contact as yet. I received a call back from Ummi Hanny of Alliance as a result of one of my queries and I'm delighted with the result. She listened and guided me through the process with great skill, knowledge and understanding. She forwarded a quote and afforded me time to consider the offer over the weekend and we would reconnect early the next week. This also gave me time to continue my research with a better understanding. which I much appreciated.We spoke on Tuesday and concluded the signing of the coverage offered through Alliance. It was the best plan for me, coverage wise, duration and financially. The fact that Alliance is a European based company is a plus as that is where I'm traveling as well as non U.S, based.Ummi's engaging style lead to these discoveries for me. She was attentive, knowledgeable, personable and genuine. She represents her organization extremely well and I would not hesitate to recommend Alliance and/or engage your service in the future.SincerelyJohn S. MacDonald

John MacDonald

★★★★★

Sehar Bajwa was very efficient, professional and knowledgeable. I was extremely pleased with her prompt service and pleasant personality.

Eva Young pow

★★★★★

Your customer service caller was so helpful. I felt confident going ahead and signing up for health insurance for my upcoming trip. Thank you for your patience and friendliness during the call. I feel better about spending a few days in the United States knowing I have health coverage.

Beth Foster

★★★★★

I went online for a quote. Then Sehar called me with a quote.Sehar was wonderful. So professional and easy to understand.It was a delight speaking to her. Also the price was the best.

Evelyn Dickson

★★★★★

Artemiz Namazi was very professional, patient, and friendly while helping me purchase medical insurance for myself, my husband, and my son.

krystyna Harasymowicz

★★★★★

I had a wonderful experience with this company! Ummi was incredibly helpful, professional, and kind throughout the entire process. She made everything so easy and stress-free. I truly appreciated her support and would highly recommend her to anyone. Thank you, Ummi!

Miriam Assouline

★★★★★

Recently purchased Trip Cancellation /Interruption Insurance from them. Say their advertisement on Facebook. The company was easy to deal with and provided information to make an informed decision. Despite not be able to deal with my initial contact person, Artmiz was very attentive, helpful and thorough. The rating given was earned

Fern Michel

★★★★★

Shana and George at Alliance were amazing to work with. They were very friendly and prompt in all transactions.

Joe Kilford

★★★★★

Sehar Bajwa she is very good helpful. Travel insurance very good purchas price .

Theepan Moorthy

★★★★★

As seniors in our + 70s we know travel medical insurance can be costly without taking out a mortgage. Fortunately our health is better than most our age or even some younger and understand Insurance Underwriters and Acturaries go by statistics. The agent we talked to Karen Write was absolutely patient and helpful. We were pleasantly surprised by the quote she gave, as the quote we had from another carrier was about 3 times more. Naturally we went with Karen Write at Alliance. We can't thank her enough for being so patient, undestanding and helpful. If in the future we are fortunate, health wise, to continue to travel we will definitely call Karen Wright at Alliance. CUDOS to Karen Wright

Robert Grills

★★★★★

Clear Communication and assurance of service

Edwin Drewlo

★★★★☆

i was very impressed with sehar prompt response and helped me through with me getting what i needed

Nadir Habib

★★★★★

Sehar Bajwa was very competent and helpful. I have dealt with her for 3 years and I always get the same quality service when purchasing travel insurance from her.

Judy Howard

★★★★★

I have just worked with Dornaz Samiei in purchasing trip insurance, and she was informed, efficient and friendly. I couldn't ask for more. Thanks.

Danny Swain

★★★★★

Sehar Bajwa was extremely helpful while we were searching for travel insurance for our upcoming trip. Sehar provided all necessary information and setting up the required insurance was very easy and well-priced

Kelly LePage

★★★★★

Geting tarvel insurance,all process to finalaize our insurance documents was pleasent because friendly (not puschy)and very profesional lady Sehar Bajwa thank you SEHAR

I R b

★★★★★

Simply an Amazing Individual. The Reason I buy my Insurane from.Allianz!!!!Thank You Dornaz!

Len Hirsch

★★★★★

Dornaz was very helpful and responsive to my requests which I really appreciate!

Susan Madden

★★★★★

Thank you Dornaz Samiei for the above service you gave me today. You have so much knowledge and patience.

Susan White

★★★★☆

Great help by Alliance Sehar was a great help.

anne johnson

★★★★★

Dealing with Dornaz was such a pleasure. Great customer service!

Maida Kellgren

★★★★★

Azita was very helpful and patient with me as I was trying to make my travel insurance choice. She called me back about 3 times and when I was finally ready, she was away and Dornaz was equally helpful in completing my application. I would recommend this company!

Donna Hemming

★★★★☆

Very helpful and friendly people to deal with. Dornaz answered all my questions and helped me with my travel insurance. I would highly recommend this company.

Dawna Shane

★★★★★

I am very pleased with the service I received from Alliance. Dormaz was my contact. She was very friendly and easy to talk to. She answered all my questions with kindness, patience, and respect. She found me a policy which offered the coverage I wanted at a better price than I had been able to find on my own.

Tina Rhodes

★★★★★

Very friendly and easy to talk with. Dornaz explained things clearly and allowed me to ask any questions.

Robert Hamilton

★★★★★

Very friendly and efficient service!

Frances Heywood

★★★★★

Spent time searching for best options for my needs

marg marlin

★★★★★

Dornaz was extremely helpful to get the right travel insurance for us. She was very friendly and knowledgeable.

Barbara Hanser

★★★★★

Ummi. Excellent representative. Very pleased.

Darla Sward

★★★★★

Dornaz was very friendly and professional providing me with travel cancellation/interruption insurance.

Gail Campbell

★★★★★

I’m so happy in dealing with Ummi Hanny , she’s absolutely a star, she really helped me finding the right insurance for me.

hanne sajda

★★★★★

Great travel insurance Dornaz was very professional.

Denise Morgan-Fell

★★★★★

Very pleasant, efficient and helpful

A. Ron Algate

★★★★☆

Very easy to set up policy on a ti.ely manner.

Brent Clayton

★★★★☆

The cost quoted was definately comparable to other carriers. My only complaint is that you can never call and get a direct quote. You always have to leave a message and wait for a call back. I find that inconvenient. It took me 2 days to get a quote. It used to take less than 30 minutes.

Nora from Aurora

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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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