Describe your objective — protecting loved ones, covering a mortgage, planning an estate — and a life and health insurance representative registered with the AMF calls you back to compare options. Nothing medical is asked here.
Start with the need, not the product
Term or permanent is the second question. The first is: who depends on your income, for how long, and what debts would remain. The amount and the duration follow from that answer. A representative does that calculation with you rather than proposing a default.
What the coverage has to carry
Debts to clear, income to replace, and how long it would need replacing, minus what already exists: a group plan, savings, coverage in force. The right amount is almost never a round number.
Term: a defined period
It covers the years when a death would have the greatest consequences: an outstanding loan, dependent children, a business to pass on. It generally costs less because it ends. Two clauses matter: the cost at renewal, and whether it can be converted.
Permanent: a certain event
It answers needs that do not fade: funeral costs, tax at death on a cottage or a portfolio, passing on a business. Whole life and universal life do not follow the same logic: one guarantees, the other leaves you choices and therefore risks.
The medical questionnaire
Pricing depends on age, smoker status, and declared health. An inaccurate declaration can lead to a claim being denied at the moment it matters. The representative explains the scope of each question before you answer it.
The beneficiary, and what Quebec law changes
In Quebec, designating a married or civil-union spouse is irrevocable by default unless the contract says otherwise: it then cannot be changed without their consent. A common-law partner is not covered by this rule. It is a local particularity a representative registered here knows, and one that often surprises.
Tax at death, plainly
Quebec has no estate duties, but a deemed disposition of assets can generate significant tax. Coverage sometimes exists precisely to supply the liquidity needed to avoid selling an asset under pressure.
Reviewing an existing contract
Coverage taken out ten years ago matches the situation of ten years ago. A change in family, income, debt, or health justifies a review: the amount, the beneficiary, and the contract type may all deserve adjustment.
Why no price is shown here
A premium depends on age, health, the coverage amount, and the contract type. Showing a figure without those would be misleading, and CompareTaux produces no eligibility decision or automated recommendation.
What happens after you submit
A life and health insurance representative calls you back to establish the need before discussing any contract. The health questionnaire comes afterwards, in a protected setting: do not answer it here.
Frequently asked questions
Do I need a medical exam?
It depends on the amount requested, your age, and the insurer. Some contracts require none. The representative tells you what applies to your situation before any step is taken.
How much coverage do I need?
It follows from debts to clear, income to replace, and how long it would need replacing, minus what already exists. Two families on the same income rarely land on the same figure, because their debts and horizon differ.
Term or permanent: how do I choose?
It depends on the need, not the product. A time-limited need often calls for term; a certain need, for permanent. The representative establishes the need before comparing contracts.
What happens at the end of a term contract?
Depending on the contract, it renews automatically at a higher premium, converts to permanent coverage, or ends. That is the clause to check before signing, not after.
Can I change the beneficiary later?
Yes in most cases, unless the beneficiary is designated irrevocable. In Quebec, designating a married or civil-union spouse is irrevocable by default unless the contract says otherwise.
Is the benefit taxable for my family?
A life insurance death benefit paid to a beneficiary is generally not taxable in Canada. Other elements of an estate may be, which is one reason to discuss it with an authorized person.
Can my premiums increase?
It depends on the contract. Some whole life policies have guaranteed premiums; other contracts, notably universal, let the cost of insurance vary. That is a clause to check before signing.
I already have coverage through my employer. Is that enough?
A group plan generally ends with the job and its amount is often modest. It counts in the calculation, but it rarely covers a mortgage and dependent children on its own.
Do I declare medical information in this form?
No, and you must not. The public form requests no medical information.