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 341 reviews from

★★★★★

I had a very good experience with Dornaz. She was very helpful and got my policy together quickly. I will certainly recommend her to my friends.

Steve Staples

★★★★☆

Thank you Theresa and Adam for your help with our travel insurance plans, for your timely assistance and the savings you were able to find for us.

Yogashiatsuyucatan Donypaola

★★★★★

Artmiz Namazi provided excellent service. She was very professional and took the time to explain the insurance coverage and answer all my questions. She is a great asset to your company and I will not hesitate to recommend her to my friends and family

Chris Dingsdale

★★★★★

Artmiz was very helpful, friendly and informative. She really knows her subject and was ready to help in any way.

Carolyn Cassells

★★★★★

Theresa Heuser is professional and competent in the insurance process. A pleasure!

Ronald Biron

★★★★★

What a pleasure dealing with Ummi, who took all the pain out of purchasing Travel Insurance for my wife and I, who are both 80 year old Seniors. Sensitive and yet enquiring, Ummi guided us through the minefield of questions with the competant ease of an expert. Ummi was responsive to any unintended omissions and made sure there were no loose ends that could disqualify any future claim. We go on Holiday knowing that we have been professionally prepared with cover for Medical emergencies, if they should arise.

John Dawkins

★★★★★

great service by the phone and email.

h m

★★★★★

We bought Emergency Medical policy for our coming trip from Ummi Hanny. She was such a good help and responsive to all our questions, either by phone or emails. Such an excellent service, above and beyond our expectations!! Thank you!

Jacob Steinberg

★★★★★

We booked travel insurance with Ummi Hanny for a river cruise we are taking this summer. She was very professional, responded quickly and efficiently to emails, calls and questions. Would definitely recommend her and Alliance/Allianz.

Kathy Castle

★★★★★

It was a pleasure to deal with Artmiz. Very polite and Patient. Nice to deal with someone who knows and enjoys their job.

Tom Brailsford

★★★★★

I just finished getting a tailored insurance package with the help of Ummi. I really appreciated the attention to detail and how knowlegable she was on the various packages. Ummi was able to get us an annual package for me and my wife that focused on our need for Trip Cancellation/Inturruption and also a single trip comprehensive package for our 3 grandchildren that will be traveling with us on our next trip. It was a pleasent experience. Ummi detailed the options and made recommendation that ensured we had the coverage we needed at the best possible price. This was all done over the phone and email and we received the comple package immediately after the purchase in our email. Thanks Ummi

Jeff Lang

★★★★★

We were helped by Ummi Hanny she is very professional and helpful.Thanks for your understanding,

Heinz Krieger

★★★★★

Ummi was our Insurance agent helping with getting medical and cancelation policy -she was very professional and knowledgeable and was able to get us a very reasonable insurance rates.

Milos Rudolf

★★★★★

Eric provided policy information, confirmed my personal details to ensure the policy would be correct, processed my payment quickly.

Tracy Hastings

★★★★★

I dealt with Ummi Hanny, oh my she was wonderful! She even laughed at my jokes. What a great first experience.

Lise Beaulne

★★★★★

Ummi. was very helpful and pleasant. Bill

william rock

★★★★★

Our purchase of Allianz Emergency Medical Insurance through Alliance Income Services Corp was a breeze. Ummi and Mariam was a pleasure to work with. They were both very patient, knowledgeable, and efficient in presenting the various options available to us. Mariam did a lot of leg work comparing several insurance companies just to find a plan that suit our needs. Ummi then completed the processing of the policy effortlessly and made the process seamless. I would highly recommend anyone who needs an insurance coverage to speak to especially this two ladies.

Danny Chin

★★★★★

My agent Artmiz was very helpful and provided me with a quote quickly. When I was ready to accept the quote she responded quickly and sent me all the necessary documents just as efficiently. Happy with my interactions.

Stephanie Rumble

★★★★★

Eric and Bob were both extremely helpful and attentive to my needs.

Paul Cody

★★★★★

Teresa was great. Addressed all my concerns.

Robert Carter

★★★★★

The service given by Ummi Hanny was excellent- very pleasant, courteous and professional.

Simin Meshginnafas

★★★★★

I had a top notch experience with this insurance broker. Eric Clementi was the person that helped me from the day that I asked for a quote online. He was very thorough with explaining every minor details that might be misunderstood between the client and the provider. Eric is very professional with his tone of voice which makes a potential client feel at ease. Nonetheless, I’ve tried different insurance broker, their monthly fees are way above the average, Alliance income Services Corp has the most decent fee for a family of five… it’s a bang for the buck kind of thing. Truly recommend this company. 👍

Mark Engel

★★★★★

Eric Clemente and Ryan were excellent to deal with. Both were very helpful , to the point , and curious .

Michael Boudreau

★★★★★

Excellent service by Eric Clementi and Ryan

margaret burns

★★★★★

Eric and Adam were very helpful with my travel medical insurance. Now I realize if I have to use this coverage that I will be in great hands.

Bonnie Smith

★★★★★

Hello...Eric was very easy to work with ....very polite....and set up my insurrance policy very quickly....thank you again Eric....Marsha Risser.

Marsha Risser

★★★★★

I ordered insurance for my husband and myself. It was a very easy process and was helped greatly by Eric and Dylan. Both were very diligent with helping me through it all. Very easy and quick.

Marilee Van Buskirk

★★★★★

It was a pleasure speaking with Eric Clementi. He was polite, understanding and considerate.

Mohinder Banga

★★★★★

I was quite happy to get excellent & friendly customer services from Artmiz - very helpful & knowledgeable!

Bruce Yee

★★★★★

Great service from knowledgeable and very helpful people. Thank you Eric Clementi and Ezarie!

Beverley Howick

★★★★★

Eric Clementi is the man

Yunus Patel

★★★★★

I had to sign up for my own health and dental insurance. The staff at this company were quick to get back to me and provide suggestions on insurance plans. The sign up process was very easy to do over the phone. I communicated with Eric Clementi who was very professional and efficient.

Muhammad Koya

★★★★★

It was pleasure working with Mariam and Eric. We are seniors and trying to get a reasonable price for travel insurance.

Fay Bellefontaine

★★★★★

I sent an email yesterday. They called today. Marion and Eric were excellent. Highly recommend this company. Rates are excellent too

Annette Chisholm

★★★★★

Eric was fantastic. Quick , easy and affordable.

Tracey Peer

★★★★★

Eric was very professional and found the best plan for me at this time.

Trev Hutchins

★★★★★

Eric Clementi was an absolute pleasure to work with. Very professional and courteous.

Berit Lys

★★★★★

Artmiz, must be the best Agent I have ever dealt with. She is articulate and has a wonderful sense of humour apart from an intimate knowledge of her products. She demonstrates a quick grasp of what people actually need (or don't need) and points quickly to available options. She is actually the only Insurance Agent I feel like calling back again. Great work Artmiz !!

Malcolm Khan

★★★★☆

Artmiz was very helpful and polite.We would certainly consider using Allianz again

Victor Leblanc

★★★★★

Artmiz Namazi is one of the most pleasant people I have ever dealt with. She was polite, personable, and helpful on the telephone. She promptly replied to both phone calls and emails. It was a pleasure to deal with her. The price of the insurance was more than reasonable.

Patricia Kostrich

★★★★★

Artmiz Namazi is very helpful, patient & just a delight to speak with doing businessWe have dealt with different people for travel insurance over the years & some could take some lessons from Artmiz

Joan Fleming

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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.