Term Life Insurance
Protect and support your loved ones
What is term life insurance?
Term life insurance can help provide financial protection for your loved ones for a period of time if you should pass away.
It is flexible life insurance coverage that can help to cover short-term or longer-term debts like car loans and mortgage loans, pay for other expenses like school tuition and small business planning or help with family income replacement.
Did you know?
We offer some of the lowest priced term life insurance products across the country.1
Term Life Insurance features:
Affordable rates
Benefit from rates as low as $10.58 per month for $250,000 of coverage.2
Flexible coverage amount
Choose from $10,000 up to $10 million of life insurance protection (depending on the product).
Rates guaranteed for each term
Fixed rate for each full term of coverage with increases at each renewal.
Renewable & Convertible
Coverage automatically renews at the end of each term. You can convert your fully underwritten term coverage into a permanent life insurance coverage anytime up to age 75.3
Easy payment options
Pay your monthly premium with automatic withdrawals from your bank account.
10-day review period
If you decide this coverage is not right for you, you can cancel within 10 days of initial policy delivery and any premiums already paid will be refunded.
Enrolment is currently not available in the province of Quebec and Nunavut.
Term life insurance coverage options:
Term 10
10 years of coverage if you are looking to pay mortgages, debts, final expenses or for small business planning.
Popular
Term 20
Helps protect your loved ones for the next 20 years for family income replacement, paying mortgages, debts, and final expenses.
Term 25
Provides insurance protection over a term that matches most new residential mortgages.
Term 30
The longest term insurance option that provides 30 years of coverage with guaranteed rates.
Policies issued by The Empire Life Insurance Company
Ready to apply?
®Scotia Insurance is a registered trademark of The Bank of Nova Scotia, used under license by BNS Insurance Agency Inc.
Term life insurance is underwritten and issued by The Empire Life Insurance Company (Empire Life) and distributed by BNS Insurance Agency Inc. The Empire Life Insurance Company: 259 King St East, Kingston, ON K7L3A8, Tel: 1-877-548-1881, www.empire.ca
All insurance coverage is subject to certain limitations, restrictions and exclusions outlined in the life insurance policy.
Enrolment is currently not available in the province of Quebec and Nunavut
1Empire Life Term life insurance prices are ranked first or second across all ages and coverage amount up to $1 million dollars for its Solution Series products . Ranking is based on the average initial premium rates for Solution 10, 20, 25, and 30 compared to the initial annual premiums of other comparable term products shown on Lifeguide as of August 23, 2022.
2Calculation is for informational purposes only and based on a initial term for a 30 year old female applicant who is a non-smoker applying for $250,000 of Solution 10 Term Life Insurance.
3 Guaranteed renewal at the end of term and ability to convert to a permanent life insurance policy are not available for Simplified Term 10 and Simplified Term 20 coverages that are enrolled for online. Premium rates will increase at renewal.