TermCanada
Life Insurance Quotes for
-
Families
-
Businesses
-
Legacies
-
Debts
- Families
- Businesses
- Legacies
- Debts
Free Life Insurance Quotes
TermCanada
4.7/5 81 Reviews
“Loved how easy it was to compare and customize the policy coverage amount.”
Mike Chapman
March 2022
TermCanada is rated 4.7 out of 5 stars on Feefo, based on 81 verified Canadian reviews. Trusted by thousands, we make it easy to compare term life insurance quotes in Canada—fast, secure, and pressure-free.
Life Insurance Quotes: Your Complete Guide
When Canadians start shopping for life insurance, it can feel like stepping into a maze! There are so many products and confusing jargon. That’s exactly why life insurance quotes matter.
They’re your roadmap to great coverage… and savings if you do it right.
Instead of guessing or jumping at the first offer, comparing life insurance quotes in Canada side by side shows you what’s actually available and what fits your needs.
At TermCanada, we built this guide to take the mystery out of the process. No gimmicks, no runaround… just clear comparisons, easy-to-use calculators, and knowledgeable licensed Canadian brokers.
By the time you finish, you’ll know exactly how quotes are calculated, what drives costs, and the simple steps you need to take to get covered with confidence.
Get Your Life Insurance Quotes Online Today
👉 Finding the right life insurance shouldn’t be complicated. That’s why TermCanada created this Life Insurance Quotes Guide. A simple, step-by-step overview to help you compare rates, understand your options, and get coverage that fits your budget
Use this guide to learn how quotes are calculated, how to compare providers, and what factors affect your premiums. For more specific topics, explore:
Life Insurance Quote — a quick overview of how to request and understand your quote.
Life Insurance Quotes in Canada — see how different insurers compare across provinces.
Quotes of Life Insurance — examples of typical rates by age, term, and coverage amount.
Speak to a broker
The Best Life Insurance in Canada: Who Needs It?
Life insurance helps protect your family’s future.
If something happens to you, it provides your loved ones with a tax-free payment they can use to cover things like funeral costs, mortgage payments, daily bills, or education.
👉 Watch this short video to see how life insurance works and why it’s such an important safety net for Canadian families.
Talk to a licensed life insurance broker in Canada for expert guidance..
How Much Life Insurance Do I Need?
The #1 question Canadians ask is: “How much life insurance do I really need?” The answer isn’t what the industry says you should buy; it’s about what your family needs to continue their lifestyle without you.
A common starting point is to 10× your annual salary. So if you earn $70,000, that means about $700,000 in coverage should do it. But that’s just a baseline. You’ll also need to consider:
🎯 Want a personalized number? Try our calculators:
[Income Replacement Calculator]
[Retirement Calculator]
What Makes Quotes More or Less Expensive
Here’s the truth: when insurers set rates, they’re looking at risk. The younger and healthier you are, the lower your premiums will be. But there are a few major factors that affect life insurance quotes in Canada:
✔ Age: Time is money here. The earlier you buy, the cheaper it is.
✔ Health: Conditions, prescriptions, and family history all play a role.
✔ Smoking: Expect to pay almost double if you smoke.
✔ Coverage & Term Length: A $1 million, 30-year policy costs more than a $250,000, 10-year plan.
Pro Tip: Don’t assume you’re stuck with one option. Insurers view risk differently, which is why comparing offers is key. To learn more about life insurance, explore our life insurance resources for expert articles and in-depth guides.
Why Canadians Choose TermCanada?
TermCanada, we know life insurance isn’t something most people look forward to shopping for.
It can feel overwhelming, with too many options, confusing terms, and pressure from pushy salespeople. That’s why we built TermCanada: to make the process simple, transparent, and designed around you.
That’s why we make it painless:
✔ Talk to a real person. You won’t get lost in a call centre. Our licensed brokers are Canadian and on your side.
✔ We shop for you. Instead of calling 10 insurers, we pull the best rates in one go.
✔ No pressure. Take your time, ask your questions, walk away if it’s not the right fit.
✔ Transparent process. From quote to application, you’ll know exactly what’s happening.
The Smarter Way to Buy Term Life Insurance Canada
Protecting Your Family, Your Way
Once you understand how quotes work, it’s time to see how you can save on premiums and get the best deal.
Check out these helpful resources:
Life Insurance Policy Rates, Save Cash — tips on comparing rates to find the best value.
Cut Life Insurance Premiums Canada — practical ways to lower your monthly payments.
Cheap Life Insurance Canada — affordable coverage options that still protect what matters most.
Each article offers real-world insights to help you keep costs low without compromising quality or security
“23 Million Canadians own $6 Trillion in life insurance coverage.”
Two Simple Tools That Help You Plan with Confidence
Planning for the future can feel overwhelming. From wondering “how much life insurance do I need?” to making sure your spouse or family is financially secure in retirement.
That’s why we’ve created two easy-to-use calculators. The Income Replacement Calculator helps you figure out how much coverage it would take to replace your income and keep your family’s lifestyle on track.
The Retirement Calculator shows you how life insurance fits into retirement planning in Canada… protecting pensions, covering estate costs, and ensuring your legacy lasts. Use them together to get a clearer picture of the coverage you need today and the security your family deserves tomorrow.
Have questions before you apply?
Speak with a licensed life insurance broker for free, no-obligation advice tailored to your situation.
Types of Life Insurance You Can Compare
- Term Life Insurance → Affordable coverage for 10, 20, or 30 years. Great for mortgages and raising kids.
- Permanent Life Insurance → Coverage that lasts your whole life, with the option to build cash value.
- Joint Last-to-Die Insurance → Designed for couples planning an estate, paying out on the second death.
- Guaranteed Life Insurance → For people with health issues or past declines. No exam needed, coverage guaranteed.
Grab a cuppa coffee & chat
Frequently Asked Questions
TermCanada Life Insurance Quotes
Once you’ve reviewed your options, the next step is easy. Connect with a licensed expert or calculate how much coverage you really need.
Contact a Life Insurance Broker — speak directly with a licensed Canadian broker for personalized guidance.
Life Insurance Broker Canada — learn more about the brokers and how we help Canadians get unbiased advice.
How Much Life Insurance Do I Need? — use our calculator to estimate your ideal coverage amount.
Check out some frequently asked questions we get at TermCanada.
What exactly is a life insurance quote?
Think of a quote as your starting price tag. It’s an estimate of what you’d pay each month for coverage, based on things like your age, health, and how much insurance you want. It’s not the final word, but it gives you a realistic ballpark before you apply.
Why should I bother comparing quotes?
Because not all insurers see you the same way. One company might charge you more for being a smoker, while another is more lenient. Shopping around means you’re not stuck paying more than you should. A few minutes of comparing can save you thousands over the life of your policy.
How accurate are online life insurance quotes?
Online life insurance quotes give you a close estimate based on your age, health, and coverage amount. The final premium is confirmed after the insurer reviews your application and medical history.
Do I need to take a medical exam?
Sometimes, yes. Many traditional policies require a quick health exam (usually just a nurse visit and some bloodwork). But if you’d rather skip it, there are no-medical exam options. They’re often a bit more expensive, but great if you want coverage fast.
How much coverage do I really need?
That depends on your life. A quick way to think about it: if something happened tomorrow, would your family have enough to cover the mortgage, day-to-day bills, debts, and future plans like college? Most people land in the range of 10–20 times their annual income, but it’s personal — not just math.
What’s the difference between term life and permanent life?
Term life is like renting coverage for a set period (10, 20, 30 years). It’s simple, affordable, and usually the best fit for families.
Permanent life lasts your entire lifetime and can build cash value, but it’s a lot pricier. Think of it more as a financial planning tool than just insurance.
Are payouts really tax-free?
Yes, in Canada, the death benefit your family receives is almost always 100% tax-free. It’s one of the big reasons life insurance is such a powerful safety net.
Can I change or cancel my policy later?
Absolutely. You’re not locked in forever. Policies usually give you a “free-look period” (about 10 days) to cancel with no strings attached. Down the road, you can often reduce coverage, add riders, or switch to another policy if life changes.
What happens if I miss a payment?
Don’t panic — most insurers give you a grace period (around 30 days) to catch up. If you fall behind longer than that, the policy could lapse. But in many cases, you can reinstate it. Best move? Set it to auto-pay so you never have to think about it.
Is my work life insurance enough?
Employer coverage is nice to have, but it usually only covers 1–2 years of salary and often disappears if you change jobs. That’s rarely enough to protect a family. Personal coverage is the piece that follows you wherever life takes you.
Subscribe to Our Newsletter
Subscribe to the TermCanada newsletter for expert tips, updates on life insurance options, and innovative strategies to help you protect what matters most. Whether you’re planning for the future or reviewing your current coverage, we’ll keep you in the know, without the spam.
✅ No pressure. Just practical advice.
✅ Delivered monthly to your inbox.