New: Term Life Insurance to Age 65
Many Canadians will need their term insurance protection for more than 10 or 20 years, but you may still not have the need for permanent life insurance. One of the problems is that renewing your coverage or even buying a new plan in 10 or 20 years down the road comes with some risk.
Manulife Financial has rolled out a new option, it is a to-age-65 solution. Their family Term and Business Term – Term 65 is affordable life insurance protection that can stay with you during your working years. So now if you only require term insurance coverage to this age you no longer have to worry about any renewal hassles every 10 or 20 years, instead you have coverage without the need to renew at higher rates or rewrite polices, and best of all we can save tree’s, its less paperwork!
With this new coverage you can;
- Update your coverage as your lifestyle and income change
- Change to a permanent insurance solution before age 60
- Purchase optional coverage, like the Child Protection Rider, to enhance your plan
One last thing, Term-65 can be a more affordable option over the long term than a 10 or 20-year plan. We’ll take a look at these numbers when we meet.
About the Author
Neil Lecky is a Life Insurance Advisor, Group Employee Benefit Specialist and an Investment Funds Advisor with Alliance Financial Group. He is also a Branch Manager and Investment Funds Advisor with Investia Financial Services Inc., a mutual fund dealer.