Disadvantages of Term Life Insurance
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What are the disadvantages of term life insurance?

The main disadvantage of term insurance is that the premiums become very expensive as the life insured reaches older ages. For most seniors the cost eventually becomes unaffordable. Also, most term policies cannot be renewed beyond age 80, which makes term insurance unsuitable for someone who needs lifetime coverage. The usual solution to these problems is to convert the term policy to a whole life policy or to buy some form of permanent life insurance as soon as the need for permanent insurance becomes both apparent and affordable and well in advance of the life insured reaching an advanced age.

Term insurance does not have a cash surrender value. Term insurance only pays death benefits in the event that the life insured should die while the policy is in force. This can be a disadvantage for the individual who fails to pay a premium when it is due. Unlike permanent insurance, for which cash surrender values build up over time, there is no automatic borrowing facility to finance payment of premiums to keep a policy in force after the expiry of the 30-day grace period.

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If you would like a free term life insurance quote, please fill out the form below.

SIMPLE - No Medical Exam or Doctors Report, just a few YES and NO health questions to qualify. Simply fill in the form below or call our toll free number to get started. There is no obligation to purchase. Our professional licensed advisors are here to answer your questions. AFFORDABLE - Compare our prices, we could possibly save you 30% or more on your life insurance. Prices starting from as low as $15.00/month (depending on age and coverage). PROTECTION - Protect your family with no-medical coverages from $50,000 to $150,000 for Term 10, 20, 100 and up to $75,000 for Permanent Whole Life. All benefits are 100% tax free. All policies have a 10 day money back guarantee and provide at least 30 days of grace so that your coverage does not end immediately if you are late making a payment. All policies are issued by long standing Canadian insurance companies. If you are between 20 to 80 years old, you can apply for this coverage. Click on a box below to see sample pricing for your age category.

SAMPLE AGE	25 years	35 years	45 years	55 years	65 years	70 years	75 years
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Male Smoker	click	click	click	click	click	click	click
Female Non-Smoker	click	click	click	click	click	click	click
Female Smoker	click	click	click	click	click	click	click

 

Type of Coverage:	Term Life Whole Life Critical Illness	If Term 10 Year 20 Year 100 Year
Number of Insured:	1 2 3 4 5
Person 1 *Amount Coverage: Date Of Birth: Select Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Select 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Select 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 * Nearest age: Select 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 yrs * Sex: Male Female * Smoker: Yes No * Approx height: ft in * Approx weight: lbs Specify your medical condition. (Heart attack, stroke, diabetes (pills), diabetes (insulin), cholesterol, high blood pressure etc.) *First Name: *Last Name: * E-mail: * Home Phone: Bus/Cell Phone : Would you like to be contacted by: Phone Email Best time to contact: morning afternoon evening
Person 2 *Amount Coverage: Date Of Birth: Select Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Select 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Select 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 * Nearest age: Select 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 yrs * Sex: Male Female *Smoker: Yes No *Approx height: ft in Approx weight: lbs Specify your medical condition. (Heart attack, stroke, diabetes (pills), diabetes (insulin), cholesterol, high blood pressure etc.) Comments
Person 3 *Amount Coverage: Date Of Birth: Select Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 01 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Select 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 * Nearest age: Select 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 yrs * Sex: Male Female *Smoker: Yes No *Approx height: ft in Approx weight: lbs Specify your medical condition. (Heart attack, stroke, diabetes (pills), diabetes (insulin), cholesterol, high blood pressure etc.) Comments
Person 4 *Amount Coverage: Date Of Birth: Select Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Select 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Select 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 * Nearest age: Select 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 yrs * Sex: Male Female *Smoker: Yes No *Approx height: ft in Approx weight: lbs Specify your medical condition. (Heart attack, stroke, diabetes (pills), diabetes (insulin), cholesterol, high blood pressure etc.) Comments
Person 5 *Amount Coverage: Date Of Birth: Select Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Select 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Select 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 * Nearest age: Select 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 yrs * Sex: Male Female *Smoker: Yes No *Approx height: ft in Approx weight: lbs Specify your medical condition. (Heart attack, stroke, diabetes (pills), diabetes (insulin), cholesterol, high blood pressure etc.) Comments
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If you were NOT diagnosed or treated with these conditions in the last 3 years then you can qualify for coverage.

• Heart failure or peripheral vascular disease (not the same as heart attack, bypass surgery, arrhythmia, TIA or coronary artery disease)
• Cancer or malignant tumor
• Unusual chronic infection or Immune System abnormality including HIV/AIDS
• Incurable terminal illness
• Organ transplant

Also currently NOT hospitalized or confined to a nursing facility.

Clarification: If you were diagnosed or treated with any illness above more than 3 years ago and you are currenlty not hospitalized or confined to a nursing facility, you can qualify for coverage. However if you had the illness within the last 3 years or currently hospitalized or confined to a nursing facility, then you will not qualify for coverage.

Personal information collected from visitors during this quoting or inquiring process is used to help us provide more accurate insurance quotes for the visitor and to help us provide the insurance that best meets their needs. This information is not shared with third parties.

Call our toll free number 1-866-800-6228 or use our online form above for your free no medical insurance quote.