Term life insurance considers boon when income is low and the budget is constricted. This is the type of insurance that is the best fit for those requires a large scope of coverage to protect their families in the form of financial security.
Apart from that, if you have entered into a new business, term insurance helps to cut down your taxes to save your cost. With more capital, prospects of expansion increase to make you a better entrepreneur.
Another instance, when term insurance proves right for you is in the case you have taken heavy loans like a car loan, house loan, etc. and further you have invested in new schemes by taking up on high interest, at this moment; term insurance helps to cover the risk of reimbursing your loan payment after your death.
Isn’t it worth buying! So, if you reside in Ontario and looking for an insurance company, look no more. Here are the top 5 insurance firms in Ontario helping people to insure their life, business, assets, etc. Let’s go in the deep study what these firms offer in term life insurance plans:
- Manu Life Insurance Company: Manu Life Insurance Company running in Canada is among the top insurance companies offering life insurance, wealth and assets management programs to Canadians. This company working internationally in providing financial services helping the client in converting their ambitions into reality.
Term Life insurance in Manu Life insurance Company:
Their coverage options are
- if your age is 18 to 70 then preferred coverage is 100,000 to I million.
- if you are in 18 to 55 age, then choose coverage Up to $250,000 without giving any medical exam. Just answer random basic health questions while applying.
In both cases, for the first 10 years, the premium rate will be fixed. The Best part is you can convert your term insurance into permanent life insurance any time before 70 without any need for a medical exam.
2. Sun Life Insurance Company: Another succeeder who wins the top badge in the same realm is the Sun Life running in Canada. This company proving the number of reliable products and services by placing the client’s needs priors. 150 years of history of gratifying customers with real-time results make them stand firmly in Canada.
Term Life insurance in Sun life Insurance Company:
In Sun Life insurance company, you can get Term Life insurance without any medical exam. Simply answer the questions related to your health and apply online in minutes. Company purposes main two basic term insurance plans
Simplified Term Life insurance plan: In this plan, you can choose term insurance for $50,000, $75,000 or $100,000. After selecting the plan, the monthly payments will be the same for the first 10 years
Term Life insurance plan: This plan is reasonable as starting from $100,000 to $1 million. The monthly payment will be the same for the first 10 to 20 years of the term.
3. RBC Insurance Company: RBC insurance company in Canada is providing extensive insurance services in health, travel, wealth, life and also helps in finding reinsurance solutions. They deal with groups, businesses, and individuals to put forward their financial security services.
In Canada, RBC operates through various means like advisory center, insurance stores, Digital platforms, Call to call advisors, etc. helping the client to deal wisely.
Term Life insurance in RBC insurance Company:
RBC also designed two types of term insurance that works accordingly on budget and needs
- RBC Simplified Term insurance Plan: In this plan, no medical exam is required. Coverage you can choose is $50,000 – $1.000,000. The lowest rate of policy that is flexible in nature. Choose insurance plan for 10, 15, 20, 30 or anything in between.
- Your Term insurance Plan: This insurance plan starts from $1,000,001 to $25,000,000. Premium will be fixed throughout the policy as well it flexible in nature. The invincible point that you should consider is after the insured dies, beneficiaries receive the death penalty free from taxes. Isn’t that amazing?
4. CAA insurance company: CAA is bestowing its best insurance services in Canada from the last 115 years. They are offering services and products in the home, auto, travel and Roadside Assistance. After 2016, CAA South Central Ontario and CAA Manitoba units and turn into CAA Club Group. After these amalgamate, the combined group is operating successfully in providing financial solutions. Their mission is to help people of Canada to stay secure and safe whether they are at home, on-road and moving to other countries.
Term Life insurance in CAA insurance Company:
Variety of Life insurance plans is available in CAA such as a 5-year term plan, 10-year term plan, 15-year term plan, and 20-year term plan. The basic coverage starts from $50,000 to $1,000,000 and you will receive cash value up to $100,000 while staying alive in advance. The plan is accessible for Canadian citizens only aged 18 to 69.
If you would like to compare multiple quotes for life insurance, you can visit www.crazyrates.ca
Conclusion:
It doesn’t matter which firm you choose, Make a clear picture of understanding what your needs are and which relevant term insurance suits you. Stay Safe!
