Term 10
Sometimes used when a short obligation or bridging period remains.
Protection for time-limited needs · Ottawa, Ontario
Term Life Insurance: protect your family for the years that matter
Term insurance provides a death benefit during a selected coverage period if the policy is in force. Compare term lengths and features around your mortgage, children and income-replacement needs.
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Compare your life insurance options
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Coverage explained
Which term length may suit your situation?
Term 10, 20 and 30 are common examples, but insurer availability differs by age and product. Choose a term that aligns with the years when financial obligations would be most difficult for your family to absorb.
Compare what happens after the initial term: renewal premiums may rise substantially and conversion privileges, where offered, generally expire on a contract-defined schedule.
Make an informed decision
Six things to compare before you buy
Insurance coverage and exclusions vary by insurer and policy. These questions help you compare more than the advertised premium.
Term 20
Commonly considered for young-family protection and medium-term mortgages.
Term 30
May help align with longer dependent-income or mortgage timelines.
Renewability
Check whether coverage can continue without medical evidence and at what new premiums.
Conversion
Review whether an eligible permanent policy may be selected without new evidence under the contract.
Beneficiaries
Review primary and contingent beneficiary designations as life changes.
Side-by-side considerations
Term Life Insurance: practical comparison guide
| Term | Illustrative use | Caution |
|---|---|---|
| 10-year term | Shorter debts / near-term family need | Could expire while needs continue |
| 20-year term | Mid-length obligations | Renewal cost may rise |
| 30-year term | Longer family or mortgage protection | Higher initial cost than shorter term in many cases |
This comparison is educational. It is not a representation of a specific insurer's contract.
Common questions
Frequently asked questions about term life insurance
Does term life insurance have cash value?
Standard term life insurance generally does not build cash surrender value.
Will my price increase after the term ends?
Renewal premiums are commonly higher. Check the insurer’s renewal schedule and contract.
Can I convert term life to whole life?
Certain policies permit conversion to eligible permanent products within specified age/time limits.
Can I insure both partners?
Yes, depending on underwriting and plan design. Compare individual policies and any joint structures.
Does the insurer always require a medical exam?
Not always. Evidence and underwriting depend on coverage amount, applicant profile and insurer rules.
Primary information sources
Content reviewed October 2026. Official requirements and insurer policies may change.
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