30 year term life insurance has been prominent in the US market for many years but only recently has it become cost competitive in Canada. There are now a handful of companies offering 30 year term insurance at competitive premiums. 30 year term life insurance has premiums that are level for 30 years so it is well suited for younger families looking for protection that covers the child rearing and mortgage years.
Premiums generally are competitive for families in their 20’s and 30’s. Older family members may find 30 year term becoming cost-prohibitive. If so, a 20 year term policy can be a less expensive compromise.