Coverage for a defined period — often ten, twenty, or thirty years — generally at a lower cost than permanent insurance. Describe your need; a life and health insurance representative registered with the AMF calls you back and compares contracts with you.
What term coverage is for
It covers the period when a death would have the greatest financial consequences: an outstanding mortgage, dependent children, a business to pass on. When that period ends, the need often falls away on its own.
Renewal: the clause to read first
Most term contracts renew automatically at the end of the term, without new evidence of insurability, but at a markedly higher premium. Knowing from the start what renewal will cost often changes the term chosen.
Convertibility
Some contracts allow converting term coverage into permanent coverage with no new medical exam, up to a given age. It is an option that costs nothing until exercised, and is worth a great deal if your health changes.
How the coverage amount is set
The right amount is not a round number: it follows from debts to clear, income to replace, and how long it would need replacing. A representative does that calculation with you rather than proposing a default.
Term or mortgage life insurance?
Mortgage life insurance offered by the lender and individual term life insurance do not behave alike: beneficiary, portability if you change lenders, how the insured amount evolves. A representative compares both with you.
The medical questionnaire
Pricing depends on age, smoker status, and declared health. An inaccurate declaration can lead to a claim being denied. The representative explains the scope of each question before you answer it.
What happens after you submit
Your request goes only to the authorized life and health insurance team. A representative calls you back. Do not enter any medical information in the public form.
Frequently asked questions
What happens at the end of the term?
Depending on the contract, coverage renews automatically at a higher premium, converts to permanent coverage, or ends. That is the clause to check before signing, not after.
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.
Can I change the beneficiary later?
Yes in most cases, unless the beneficiary is designated irrevocable. That distinction matters, particularly between married or civil-union spouses in Quebec.
Should I declare medical information here?
No, and you must not. The public form requests no medical information. Those questions come later, in a protected setting.
Is the request really free?
Yes. Submitting a request is free and without obligation. A contract’s cost is explained by the authorized person before you decide anything.