What life insurance products are Canadians comparing most?
Hands down, the most popular life insurance product compared at Kanetix.ca is Term 10 life insurance. Last year, this life insurance product accounted for about 45 per cent of all life insurance quotes.
Term 10 life insurance is a popular choice for many Canadians as it is affordable and offers premiums guaranteed not to increase for a 10-year period. It is typically best suited for individuals who have shorter-term needs; their mortgage will be paid off over the term of the life insurance policy and typically, their children are in their teens or older.
How affordable is it? Less than a dollar a day.
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| 40 | $151 | $128 |
| 45 | $193 | $152 |
| 50 | $255 | $200 |
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Premiums shown are the premiums if paid annually. |
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Compare term 10 life insurance quotes today.
Term 20 life insurance
The second most popular life insurance product available through Kanetix.ca is the 20-year term policy. Last year, this life insurance product accounted for almost 30 per cent of all life insurance quotes.
Term 20 life insurance, like the 10-year policy, offers level premiums for the duration of the policy. It typically appeals to individuals who have longer term life insurance needs of at least 15 years, especially individuals with young families and a new mortgage.
How affordable is it? Still less than a dollar a day.
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| 30 | $149 | $123 |
| 35 | $164 | $139 |
| 40 | $203 | $162 |
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Premiums shown are the premiums if paid annually. |
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Compare term 20 life insurance quotes today.
Term 30 life insurance
Term 30 life insurance has become more popular especially with homeowners who choose to amortize their mortgage over 30 years. Last year, the Term 30 life insurance product accounted for almost 11 per cent of the single coverage life insurance quotes obtained through Kanetix.ca.
Life insurance rates for a Term 30 policy are also affordable, and will be the same throughout the duration of the policy:
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| 25 | $169 | $132 |
| 30 | $192 | $154 |
| 35 | $233 | $181 |
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Premiums shown are the premiums if paid annually. |
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Compare term 30 life insurance quotes today.
Term to 100 life insurance
Term to 100 life insurance is often referred to as a permanent life insurance policy. The period of coverage, as the name suggests, is until the policyholder turns 100 years of age. It is different from permanent life insurance policies in that it usually has no cash values and is non-participating (meaning that it will not pay out dividends.) As a result, as permanent life insurance policies go, it is one of the most affordable.
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| 50 | $1216 | $963 |
| 55 | $1636 | $1315 |
| 60 | $2118 | $1696 |
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Premiums shown are the premiums if paid annually. |
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Term to 100 life insurance is best suited for individuals 50 and older because, so long as the policy is kept in force, the premiums will not increase even as the policyholder ages. Last year, the Term to 100 life insurance product accounted for almost 15 per cent of life insurance quotes, making it the third most popular life insurance product at Kanetix.ca.
Compare term to 100 life insurance quotes today.
Looking for more information about life insurance?
- Read: How much life insurance is enough life insurance?
- Read: Top 10 life insurance myths
- Read: Term life insurance: Money-saving tips (they do exist)!
- Read: Term 10, 20, 30 and Term to 100 - Key Similarities and Differences
