Recognize the right price to pay for term life insurance with partner life insurance brokers of « Compare Insurances Online ».

Recognize the right price to pay for term life insurance with partner life insurance brokers of « Compare Insurances Online ».



First and foremost, without going into what term life insurance includes, let us define it clearly:

« Term life insurance provides protection for a limited period of time (up to a maximum age or for a specific number of years determined in advance). The death benefit is paid only if the insured dies while the policy is still in effect. »

It is very simple. The duration of the term life policy is determined based on your preference and you pay fixed premiums throughout the term.

We will tackle questions about renewal, additions, and specific features later. You will learn a lot.

This insurance product will not cost you much !  The premiums are characteristically cheap, giving life insurance coverage at a very low price. Individuals who take out term life insurance generally choose it as the first defense against an untimely death that would greatly affect the financial security of your family or the sudden loss of an important partner or income.

Term life insurance, as a general rule, protects you at a time when you or your finances are at risk for just a short time. It fills a specific need for the short-term and can be renewed based on your needs.

Important data on term life insurance

The CLHIA (Canadian Life and Health Insurance Association) has published a detailed report regarding the level of insurance coverage in each Canadian province, including Quebec.


The CLHIA is a non-profit organization in Canada consisting of companies that make up around 99% of Canada’s life and health insurance industry.

The industry offers a wide range of products to Canadians (+28 million) to ensure their financial security such as supplemental health insurance, annuity programs (retirement plans, RRIF, RRSP…) and life insurance.

It has over $810 billion in assets in the country and employs around 155,000 Canadians.


A 2017 fact sheet on personal insurance in Canada (source) disclosed that 22 million Canadians own life insurance worth $4.5 trillion. The average household coverage is approximately $404,000, up by $16,000 in the last 2 years. This sum constitutes, for the average Canadian, the equivalent of 5 times the average income.

Term life insurance takes the biggest share of the pie, with 76 % of policies in the market, divided into 40% in group term life insurance and 36% in individual term life insurance.

In the last decade, group life insurance has been losing steam compared to term life insurance which is growing. Term life insurance will continue being talked about and continue its momentum.


How to get term life insurance at the best price?

At lower prices and with greater flexibility, term life insurance appeals to young families and individuals who desire protection for their loved ones in the event of their death.

Most life insurance companies offer term life insurance. In effect, it can be time-consuming to call every insurance company and speak to an agent (they do not reveal their prices on their websites).

Leave it to the professionals to find the best solution for you.


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Term life insurance: an economical protection which adapts over time

As you may know, term life insurance is only for a specific period of time. This period is generally for 10, 20, or 30 years. A 100-year contract also exists. At first, the premiums do not increase much, but if they do increase as you get older while whole or permanent life insurance differs significantly in this aspect. These 2 types of life insurance offer lifetime coverage and fixed premiums.

One example is a non-smoker (male) who is in good health and is 30 years old. He decides on a term-life insurance for 20 years at $29 (approximately) per month for $250,000.  Using the same scenario but for permanent life insurance, adjustable over 20 years, would require him to pay around $300 monthly!  This is 10 times more !


Why do you want to buy term life insurance?

This life insurance product provides protection to the people under your care. To determine your needs in this regard, ask yourself this question:

« If I die today, will my family suffer from financial difficulties? » If your answer is no, you can forget about this right now.

Term life insurance is for:

  • Those seeking to compensate for the loss of key personnel or associates in a company.
  • SME owners who want to obtain sufficient funding for a major goal of their business.
  • Those who wish to protect their loved ones from the burden of debts or mortgage payments.

Do not buy term life insurance if :

  • You are interested in insurance with a savings component.
  • You want lifetime insurance protection.

Life insurance and its impact on your budget

Before you buy life insurance, it is important to make sure that you can pay the total monthly premiums.

The rates of premiums vary, depending on the term, the age of the insured, health condition, gender, and selected insurance features.

Here are examples of prices:



(for a coverage of $100,000)

  Here are prices for term life insurance in Quebec to avoid paying too much.
  Female Male
  Non-smoker Smoker Non-smoker Smoker

Age : 35 years

$11,85 $19,80 $13,20 $24,90

Age : 40 years

$14,15 $26,95 $17,20 $38,20

Age : 45 years

$18,80 $38,3$ $25,20 $61,15

Age : 50 years

$27,80 $54,90 $38,40 $91,95

Age : 55 years

$44,30 $82,80 $64,30 $140,75

Age : 60 years

$73,90 $128,30 $110,05 $222,80

Age : 65 years

$124,95 $201,30 $186,80 $333,90

Age : 70 years

$201,75 $325,90 $301,90 $476,55

*These figures were obtained in 2018 online using automatic price calculators. Do not rely on these prices.

To receive your FREE quote, please completely fill out the fields on the form found on this page.


How to assess your insurance needs to choose your term life insurance policy?

A multitude of life insurance brokers put term life insurance on a pedestal. They say that it is much cheaper to obtain insurance for a period of 20 years or 10 years and evaluate their needs afterward.

Your children will reach maturity, the amount injected into your RRSPs increase as you age, and your income, too. Eventually, your mortgage payments will also cease. Even as term life insurance prices go up as you get older, your life insurance needs change gradually and could soon be reduced or completely disappear.

Take note, however.

Permanent life insurance can be a convenient way to enhance the financial security of a young individual whose autonomy is zero and who may always be dependent on you.  

Similar to many other assets, this insurance product provides excellent protection for your legacy. Indeed, your assets are expected to be sold at your death: the market value is assessed and your heirs are taxed for capital gains.  

If this tax is not paid in cash, the heirs have no option but to leave the family estate.  

Permanent life insurance can cover these contingencies.

Analysis of your needs: what to do ?

Would you like some tips on how to make a well-informed decision? A life insurance broker or financial security advisor can give you valuable advice through a wide variety of insurance products from different insurers.

The financial security advisor must perform a thorough and careful analysis of your financial situation and needs. He must also consider all your assets in insurance. Only then can he be able to make sound recommendations for a minimum, moderate, or huge amount of insurance.

On the other hand, if you are interested in mathematical computations that could lead you to your choice in term life insurance, it is essential to know if your assets exceed your liabilities.  

If this is the case, find out how much is the difference.

This will give you an idea for gauging your finances by establishing a list. You will find 2 columns, liabilities and assets.

You can use this method regularly or at least when you are facing a dilemma and poses a risk to your budget.


The financial statement, an important step to gauge if term life insurance is a good solution.

Step 1: The tools to start

Get a good, old eraser, a pencil, and a piece of paper or use the computer if you have mastery of a spreadsheet (Open Office, Excel…) to facilitate this process and save time.

Step 2: Make a list of your assets.

  • Your RRSP (Registered Retirement Savings Plan) if you have one.
  • All of your cash. (How much is in the cash register or the bank?)
  • Your furniture.
  • Investment funds.
  • Art objects in your possession (statues, paintings, engravings, jewelry)
  • Government obligations
  • Your vehicles (RV, SUV, motorcycle, car, boat)
  • Deposits (futures)
  • Real estate (multi-housing, cottage, residence, land..)
  • Funds like FTQ and CSN of workers
Step 3: Make a list of your liabilities.

  • Credit lines
  • Auto loan
  • Mortgage loan (mortgage)
  • Delayed accounts
  • Student loans
  • Credit cards (include all)
  • Other loans

Step 4: Calculations

  • Add the column for your assets and repeat for your liabilities.
  • Subtract your liabilities from your assets.

If you get a surplus as a result, it is a good thing. You are not deep in debt.

Whatever result you obtain (positive or negative), you will know what type of life insurance is right for you.

As a general rule, positive assets will determine permanent life insurance as their best option to ensure the continued protection of these assets. Permanent life insurance provides shelter against high taxes if you have reached the maximum for your RRSP and TFSA contributions. This investment will serve your family well rather than going to the government.

If you need the assistance of a life insurance broker or financial security advisor to point you in the right direction, this professional will study your current insurance coverage (permanent, term life, mortgage life…) and do the same exercise for your financial statement.

Seeking advice from a specialist, especially if you are in unique circumstances, is a good choice. A life insurance broker can quickly suggest term life or permanent life insurance or any other type of insurance that would suit your needs.

Step 5: Ask the price of life insurance that suits you best

 Term or permanent life insurance? Do not make the choice alone, let a specialist in this field advise you of your options and guide you.

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The many benefits of term life insurance in Quebec

Term life insurance is definitely the choice that saves you the most money. You must choose the term (1 year, 5,10, 50 years…) and your rate will be determined based on whether you smoke or not, your health condition, gender, and age.

But be careful! This may seem inexpensive, but each renewal of the policy will once again question your health status and age which could cause a significant increase in the cost of your premiums. Permanent life insurance could seem like a good option to consider.

However, as a general rule, temporary needs affect your selection of term life insurance. It may be that your objective, if you subscribe to it, is to get protection for temporary risks that could potentially disrupt your projects or to ensure the settlement of debts which have reached a high level.


The benefits of taking out term life insurance.
The low price of term life insurance is its main advantage. LOWER PRICE

It is important, in the market, that the premiums are low. Rates for term life insurance can be as low as $20 or even $12 a month.  

These policies pay death benefits of up to  $10,000, $20,000 or more!

The death benefit of term life insurance is impressive! A HIGH DEATH BENEFIT

Would you like to buy coverage for your debts that you cannot pay for at this time? Would you like to provide a secure financial future for your inner circle (family, loved ones…) or even to improve their economic condition?

Term life insurance can do this for you for amounts (death benefit) starting at $10,000, and up to $500,000. You can choose while taking into account your personal expectations and budget, of course.

The possibility of additions to term life insurance is a big advantage. POSSIBILITY OF ADDITIONS

Life insurance companies assemble additions for health that complement very well the protection provided by term life insurance.

These additions add more value to the basic product and complement it according to your needs.

Term life insurance can be converted to permanent life insurance upon renewal. FLEXIBILITY

Term life insurance can be converted into permanent life insurance to take advantage of its benefits or avoid surcharges upon renewal.


Questions and answers about term life insurance in Quebec

We have gathered the most frequently asked questions about term life insurance.

Finally, find the answers to your questions about this incredible product.


Your answers to term life insurance on this incredible life insurance product.



This topic is appearing more and more in the media to educate Quebecers about the usefulness of term life insurance. We even have an article regarding the truth about mortgage insurance..

Let us compare the monetary differences between the 2 quickly. This will give you a good idea of the price difference.


(Based on a mortgage of $250,000)

Remaining years Price for a
mortgage insurance
Price of term life insurance
25 $190.00/month

$2,280.00 after one year

$90.00 /month

$1,080.00 after one year

20  $11,400.00 after 5 years. $5,400.00 after 5 years.
15  $22,800.00 after 10 years. $10,800.00 after 10 years.
10 $34,200.00 after 15 years. $16,200.00 after 15 years.
5 $45,600.00 after 20 years. $21,600.00 after 20 years.
0  $57,000.00 after 25 years. $27,000.00 after 25 years.
And then… This insurance disappears. You have the option to transform or renew your policy in order to keep it.

*These figures were obtained from automatic calculation sites.
To get your own estimate of the savings you can have, fill out the form on this page.


You have probably noticed that you can save $30,000 with term life insurance!

Your answers to term life insurance on this incredible life insurance product.



In the vast majority of cases, yes. Go over your contract and look for the clause concerning conversion. Many term life insurance policies have a clause on conversion that allows the policy to be transformed into permanent life insurance without a need for medical examination.

Your answers to term life insurance on this incredible life insurance product.


Without a renewal, your term life insurance policy is gone forever. Your insurer has an early Christmas and now owns all of the money you have paid for your premiums.

You will receive a letter from your insurer reminding you of the imminent termination of your policy to give you a chance to make a decision.

Your answers to term life insurance on this incredible life insurance product.



Included in permanent life insurance, the cash surrender value increases with the number of premiums paid.

If you believe that one of these days, you may need to terminate your permanent life insurance policy due to liquidity problems, the cash surrender value can be a lifesaver and gives you the funds needed as indicated in your statement. If the expected capitalization does not reach its desired limit, then the surrender value will not be a taxable amount. On the other hand, if you take this amount, your contract is automatically terminated and is irrevocably dissolved.

Your answers to term life insurance on this incredible life insurance product.


The annual article of the Insurance Barometer in 2017 by «  Finance Investissement » has revealed very surprising facts about the industry. It revealed, with reference to life insurance sales in 2017, that term life insurance remains to be the number 1 choice of Quebec consumers (at 66.7%). Life insurance brokers, as well as financial security advisors, still recommend it as the most advantageous product that offers a reasonable protection for temporary needs at the lowest prices in the market.

Your answers to term life insurance on this incredible life insurance product.


The majority of the population choose their life insurance. If you don’t take this possibility, it is highly likely that your children will need to obtain a government loan to achieve their life goals.

Fortunately, if the people around you (family), such as in the good old days, lavish you with gifts and want to spend money on your education, enjoy it. Be sure, however, that your donors are healthy enough to face this big challenge. Older people sometimes underestimate the costs in modern society.

You only need to cover these costs, for example, to get a 20-year term life insurance policy (the cheapest life insurance) for $20,000 to send enough money for your offspring to finish his higher education.


How to choose the person protected by term life insurance ?

Before buying life insurance, determine who will benefit most from your policy. This will name the insured. You have two difficult choices: get an insurance contract for yourself or for someone else. List down the name of the person who makes the most money in your household. This will clarify your selection of the family member that needs to be insured.

Calculate your household expenses for a month.

Who in your household bears the heaviest financial burden for your home so that the family’s finances remain secure and stable? If you share this role with a partner, you can get insurance for a couple  with joint coverage. However, if you insure anyone other than yourself, you will need their written consent.

Here are some exceptions:

  • Your offspring (children) or that of your husband, wife
  • Your husband or wife
  • Your grandfather and grandmother or parents
  • Your inner circle (very close friends)
  • Grandchildren, whether yours, those of your husband, or wife
  • Your instructors, people giving you assistance, associates, attendants, or employees.


Determine who will be the beneficiary of term life insurance and revocability

Stop at your choice of beneficiaries when you draw up your contract. You can change the names later through a form or your will and testament.

Your contract usually states that you can decide to receive payments at a specific age or after death. You can also select your insurance beneficiary. If you would like to support a charitable organization or a humanitarian cause, you only need to specify the amount.

Many insurance companies verify that there is an amicable relationship between you and the insured.

Make sure that your insurer has your list of beneficiaries.

Compensation will be paid to the beneficiary named in the individual’s will if no beneficiary is named in the life insurance policy.


Do you need to inform the beneficiary that he is in your contract ?

You are under no obligation to inform the beneficiary. The approval of the person is required only if you expressly request it (to assume the title of beneficiary). If a signature to indicate conformity is added to the contract, this person (as beneficiary) is then appointed as irrevocable and his name cannot be withdrawn unless he gives his consent.


Decide whether the beneficiary is irrevocable or not

Clarify if your named beneficiary is irrevocable or not.

It is strongly suggested to appoint beneficiaries with revocability because you don’t know what the future will bring. You should at least have the option to change this aspect of the contract if there is a change in your relationship with the beneficiary.

Avoid revealing the exact amounts: do not make the mistake of revealing the exact amounts for each individual. Thus, if one of them dies (before you), the transfer of his inheritance comes into play and complicates matters. If you do not specify the division of the legacy to the beneficiaries, if one of them is out of the picture, there will be an equal division among the remaining beneficiaries.

Name a beneficiary in the following order: in case you only opt for a beneficiary, if a beneficiary should die, the beneficiary becomes you. Then establish a secondary set of beneficiaries for this scenario. This person will only receive the death benefit if the beneficiary should die before you do.

The factors that drive up the prices of premiums of term life insurance.


The factors that drive up the prices of term life insurance in Quebec are:

  • The smoking habit of the insured: for a similar coverage, a non-smoker pays 2 times less than a smoker.
  • The profession of the insured: Risk determines everything. A more dangerous job will require higher premiums.
  • Age: the factor that changes everything and weighs heavily in the balance. For a similar coverage, a 60-year old man will pay around $85 per month while a 25-year old nephew will pay about $20.
  • The place where the insured lives: Life expectancy fluctuates in Quebec depending on the area where your home is located. The premium is based on pre-established scales.
  • Gender: You will see a difference of about 30% between premiums paid by women and men. Higher life expectancy rates of women benefit them greatly. They will pay less.
  • Alcohol consumption of the insured: because of the risks involved, if the insured drinks a lot, he will have to pay a higher premium. Many people may even be denied insurance coverage.
  • The insured takes drugs: A surcharge or even refusal may occur if the individual takes non-prescribed narcotics.
  • Extreme sports: Practicing high-risk sports such as motocross, car racing, climbing, diving (underwater), or parachute increases the cost of the premiums.
  • Poor health of the insured: a poor health condition significantly increases the premium for life insurance. An insurance company could also peremptorily refuse coverage.


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When someone is at the peak of his health, he doesn’t want to face the question of term life insurance.

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Certain goals in life motivate us. This determination moves us forward and we will receive the benefits one day.

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