Term to 100 life insurance is the simplest form of permanent life insurance available to Canadians. It’s also a fairly uniquely Canadian product, similiar products are not available in most other countries.
Term to 100 has only two features; a death benefit and a premium. Both the premium and the death benefit are typically fully guaranteed and level for your entire life. Buy the insurance today and nothing will ever change. The lack of additional features means term to 100 life insurance is one of the least expensive permanent insurance products available to Canadians.
Consumers can look to term 100 insurance for insurance needs where they need low cost life insurance when they die, no matter how old they are when that happens. Final expenses, funeral costs, taxes due upon death, these are all situations where term to 100 may be a good fit.
In today’s marketplace though, a minimum funded, level cost of insurance universal life insurance policy may be a suitable choice as well. Competitive pressures on universal life insurance premiums have brought these premiums down to being in line with term to 100 premiums.