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Better Term Life Insurance, Online

Because not all term life policies are the same.

Inexpensive Premiums

Competitively priced term life insurance, amongst the lowest prices available in Canada.

Renewals

Policy renews at a higher premium at the end of the first term. You may renew the policy for life.  Consumer advocates agree, renewals are an important feature of your term life insurance policy.

Conversion

First conversion option:  Up to age 71 (one of the longest conversion option available on a term life insurance policy in Canada). You can exchange your term life insurance policy for a permanent lifetime policy without a medical exam. If you become uninsurable, this option allows you to lock in life insurance for the rest of your life without regard to your current health status. 

Second conversion option: At age 85, your term life insurance policy automatically converts to a Term to 100 policy with premiums level for life.  Your policy becomes fully paid up (no more premiums due) at age 100. Few Canadian term life insurance policies offer this second conversion option.

Exchange Option

Exchange your policy for a longer term in the first 5 years of the policy – no medical exam required.

Accelerated Death Benefits

In the event of a limited life expectancy, you can access a portion of your death benefit while still alive (subject to conditions).

Critical Illness Option

Add a lump sum of $100,000 critical illness insurance to your policy.

Fully Online

Apply online, and your policy is delivered to you by email. No in person underwriting (medical history is collected via a phone call) or agent visit.

Get Started
Get a Quote
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About the Term Guy 

The Term Guy is Canada’s premier online term life insurance provider. Our founder (Glenn Cooke – the original Term Guy) has been promoting term insurance online since 2006. He’s been featured as a source in The Globe & Mail, The Toronto Star, appeared on TV and Radio numerous times, and even thanked as a source in Canadian financial books by Gail Vaz-Oxlade and Preet Bannerjee. See The Term Guy’s full list of media mentions here…

Get Started In 3 Easy Steps!

1. How Much Term Insurance

Easily determine how much term life insurance you need to maintain your family’s lifestyle.

2. Best Type of Life Insurance

Chose the term life insurance plan that is best for you and your family.

3. Get a Quote and Apply!

Calculate your term life insurance quote using our online calculator and apply!

1. How Much Term Life Insurance

Understanding How Much Insurance (Read Time 5 Mins.)

You’re seeking term life insurance to protect your family’s lifestyle. For most of us, our lifestyle is dependent on our income which is lost upon our premature death.

The following calculator determines how much term life insurance is needed to replace a percentage of your income for a number of years. That replacement income then can be used by your family to maintain their lifestyle.

We suggest that you look at 60-80% of your gross income, over a time period between the time any children are no longer dependent, and retirement.

How much life insurance do I need?
Your annual income:
Percent of Income Needed:
Interest Rate:
Interest rate earned on insurance proceeds over time. Generally about 2% higher than inflation rate.
Inflation Rate:
Inflation rate is the expected increase in your annual income every year. Generally about 2% lower than interest rate.
Number of Years to Replace Income:
» Based on the above assumptions, you need approximately $670,520 of life insurance to produce an income of $40,000 for 20 years.

View Full Results

Year Insurance - Income + Interest = Remaining Insurance
1670,520.9140,000.0031,526.05662,046.95
2662,046.9541,200.0031,042.35651,889.30
3651,889.3042,436.0030,472.67639,925.97
4639,925.9743,709.0829,810.84626,027.73
5626,027.7345,020.3529,050.37610,057.75
6610,057.7546,370.9628,184.34591,871.12
7591,871.1247,762.0927,205.45571,314.48
8571,314.4849,194.9526,105.98548,225.51
9548,225.5150,670.8024,877.74522,432.44
10522,432.4452,190.9323,512.08493,753.59
11493,753.5953,756.6621,999.85461,996.78
12461,996.7855,369.3520,331.37426,958.79
13426,958.7957,030.4418,496.42388,424.78
14388,424.7858,741.3516,484.17346,167.60
15346,167.6060,503.5914,283.20299,947.21
16299,947.2162,318.7011,881.43249,509.94
17249,509.9464,188.269,266.08194,587.77
18194,587.7766,113.916,423.69134,897.55
19134,897.5568,097.323,340.0170,140.24
2070,140.2470,140.240.000.00

2. Best Type of Term Life Insurance

Understanding the Best Types of Insurance (Read Time 5 Mins.)

Click through to learn about the best type of coverages you can consider.

Term 

Premiums guaranteed level for 10 years. 

Switch to lifetime policy before age 71 – no medical exam required. Policy automatically becomes a Term 100 at age 85.  Policy is fully paid up at age 100.

Online application + phone interview in most cases. 

Learn More

Term 

Premiums guaranteed level for 20 years. 

Switch to lifetime policy before age 71 – no medical exam required. Policy automatically becomes a Term 100 at age 85.  Policy is fully paid up at age 100.

Online application + phone interview in most cases. 

Learn More

Term

Premiums guaranteed level for 30 years. 

Switch to lifetime policy before age 71 – no medical exam required. Policy automatically becomes a Term 100 at age 85.  Policy is fully paid up at age 100.

Online application + phone interview in most cases. 

Learn More

Critical Illness

Premiums guaranteed level for 10 years. 

Switch to lifetime policy before age 65 – no medical exam required.

Online application + phone interview in most cases. 

Learn More

3. Get Your Life Insurance Quote 

View your instant life insurance quote and see how inexpensive your life insurance premiums can be.

Inputs:

Amount of Life Insurance

In the last 12 months, have you used any tobacco or nicotine products including cigarettes, cigarillos, colts, cigars, pipes, chewing tobacco, snuff, e-cigarettes, vaporizers, nicotine gum or patches, or any form of nicotine substitute?
Select this to receive your quote by email.
(Optional) We use this to customize your quote.

Your Quote

Male 38 Non-smoker, $100,000 of coverage
Life Only
Life + Critical Illness +CI

Term 10

$10 37/month

Term 20

$10 76/month

Term 30

$10 76/month

3 Simple Ways to Apply 

Understanding How to Apply (Read Time 5 Mins.)
Apply Online Now

Apply Online Now

Apply online for renewable & convertible term life insurance now! Just click the Apply Online Now button above and complete the short form. A paramedical person will call you at your convenience to collect your medical history. We’ll email you the policy once it’s issued. It’s fast, it’s easy, and there’s no agent visit. There’s no cost to apply and you may cancel at any time. Premiums will never be lower.

866-779-1499

Apply by Phone 

If you prefer to speak to The Term Guy by phone, just call our term hotline at (866) 779-1499. We are available Monday to Friday from 9:00 am to 5:00 pm EST. We can answer all your questions and complete the application form, no agent visit required.

Book Now

Apply by Zoom 

A great blend of in-person, online, and phone, you can book a zoom call with The Term Guy. We will answer all your questions, provide any necessary advice and product information, and can take your application right over the call.

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