Due to heightened competition, life insurance in Canada has really diversified and improved to the benefit of the citizenry. Today, literary anyone can get a Canadian life insurance cover from the elderly to those with pre-existing conditions. The diversity enables anyone to enjoy the benefits of life insurance and provides peace of mind to those who seek the cover. Besides eligibility, the premiums on life insurance has really come down in the recent past. Just by filling out Canadian life insurance quotes, you will be impressed by the premium offers that you receive. Some of the life insurance in Canada options are covered below.
Preferred Insurance Cover
Preferred Canadian life insurance is an option available to people who are in good health condition. To qualify, one needs to be a non-smoker and to have a good track record. Various things are analyzed such as your driving record, your family history and your working conditions. Once you qualify this life insurance Toronto policy, your premiums for a similar face value policy will drastically go down. If you are in good health condition and you are currently on a regular life insurance policy, you should fill out life insurance quotes for a preferred policy and you will see a huge difference between what you are currently paying for your premiums and what will be charged when you upgrade to a preferred policy. If you do not already have an insurance policy, you can get Canadian life insurance quotes to know what your premiums will be for the preferred policy. Depending on your age and gender, premiums could go as low as $12 per month for a term life insurance. For those seeking to quit smoking, qualification for preferred policy will require at least 12 months of tobacco free including Nicorette and other smoking substitutes.
Non-Medical Life Insurance in Canada
Non-medical Canadian life insurance plans are targeted at people who cannot qualify for traditional insurance policies because of their pre-existing health conditions. This policy will require no medicals to qualify. If you have a terminal illness or your health condition disqualifies you for a traditional Canadian life insurance policy, you can opt for this type of insurance cover. However, the premiums will be significantly high and the face value is caped to a given maximum. The maximum depends on the insurance company and your specific case. You also need to note that in case of death within the first two years of this life insurance Toronto policy, the death benefit is reduced to a maximum of your premiums paid. If you would like to know what applies specifically for your case, fill out life insurance quotes and indicate non-medical.
Insurance for Children
It is now becoming an important thing to seek life insurance in Canada for children. Although the children will have no dependents by the time you pick out a life insurance policy for them, you get to lock a very good low premium rate policy that will cover them all their life – even when they will become bread winners. You also ensure that they pick up on the discipline to have a policy even when they grow up. Furthermore, you lock up low Canadian life insurance premiums when their health is okay and in case a condition arises in future, it will not affect their life insurance cover. Fill out life insurance quotes today to know what premiums you can lock for your children.
Other Policy Options
Other available options for life insurance in Canada include policies for the elderly, policies with an investment and dividends option, whole life insurance policies that only require premium payments for a given period and many more. You can fill out Canadian life insurance quotes to know what options are available for you.