We've got you covered

Are you looking to cover temporary needs like your mortgage, or protect yourself or your family during a time of increased financial responsibility? You’ve come to the right place. Term life insurance covers your insurance needs for a specified period of time (the “term”). At The Co-operators we make it easy to get the right amount of life insurance for however long you need it – one short year or three full decades.

Choose the one that’s right for you

Term Life 1

Recommended for:
  • Covering short-term needs
  • Anyone wanting the most coverage on a limited budget
  • Young families – or anyone – beginning to build a financial plan
Protection for:
  • Student, car and/or short-term business loans
  • Final expenses
Applicable ages:
  • 18-45
Amounts available:
  • $50,000–$450,000
Benefits:
  • Amount you pay stays same for one year (then gradually increases with age)
  • Renews automatically each year (no need to reapply)
  • Flexibility to move to longer-term insurance product as needs change (regardless of changes to health)
Upon death:
  • Tax-free cash payment goes to the people you choose (the “beneficiary”)
Requirements:
  • Simplified underwriting process – must complete a short health questionnaire

Versatile Term

Recommended for:
  • Covering longer-term needs
  • Anyone wanting flexible options to suit their unique needs
Protection for:
  • Mortgage (and other debt) payments
  • Income replacement
  • Business loans, overhead expenses/start-up costs
  • Final expenses
Applicable ages:
  • 16–75 (note: current age plus chosen term cannot exceed 85)
Amounts available:
  • $25,000–$10,000,000
Benefits:
  • Choice of term: 10, 15, 20, 25 or 30 years
  • Amount you pay stays same for length of chosen term (then increases each subsequent year)
  • Option to add disability and/or critical illness for additional protection
  • Flexibility to move to longer-term insurance product as needs change (regardless of changes to health)
Upon death:
  • Tax-free cash payment goes to the people you choose (the “beneficiary”)
Requirements:
  • Full underwriting process – must complete a health questionnaire and possibly provide further medical information

Learn more

Term vs. permanent insurance

What's the difference between term and permanent life insurance?

There are two basic life insurance options: term and permanent. Term lasts for a specific, pre-set period. Permanent lasts your entire lifetime.

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Five reasons to buy life insurance young

Investing in life insurance in your 20s or 30s can be a savvy financial move. Here are a few reasons you should consider buying life insurance young.

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Life insurance provides protection for every age group, family dynamic and life stage. Find out why Canadians need life insurance.