Term Life Insurance
What is term life insurance?
It’s coverage that protects your loved ones and provides them with a tax-free payout if something were to happen to you.
How does it work?
- You can pick the exact amount of insurance you need.
- You can choose how many years you want coverage for.
- If you pass away, your beneficiaries receive a tax-free payout.
- You can pay monthly or annually and your payments will not increase during the term.
- Depending on your age and health, you may be able to get instant approval without providing medicals.
How much does life insurance cost?
Several factors determine the price of term life insurance, including:
- Amount of insurance needed
When do you need it?
- If you have children or are starting a family
- If you have a spouse
- If you have a mortgage or debts you want paid off if you passed away
- To give your estate the liquidity it needs and help pay your final estate taxes
- If you want to leave money to a charity or anyone else
How much life insurance do you need?
If something were to happen to you, you want to make sure whoever you leave behind is financially taken care of and your debts are paid for.
- How much will your family need if you prematurely died?
- How much debt do you currently have?
- What are your childrens financial needs?
- Is there anyone else you want to leave money to? Other family members? Charity?
How do I apply for term life insurance?
Call us: 1-888-673-8872
At MD Insurance, we have aligned ourselves with Canada’s best insurance companies to offer you an extensive range of coverage at affordable rates.
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