Matt Hands, Business Director, Insurance
In today's day and age, life insurance is a necessity. However, life insurance is also very complex! That means it takes a lot of background knowledge and research to find the best life insurance rate for you.
Thankfully, getting a life insurance quote with Ratehub.ca couldn't be easier. In just a few minutes we will collect your coverage requirements and connect you with one of our verified life insurance partners. They will help you identify the right life insurance product to meet your needs and compare quotes from over 20 top life insurance companies, in order to bring you the best life insurance rates in Canada.
How to compare life insurance quotes:
- Tell us a bit about yourself
Start the quoting process by filling out our quote request form. Life insurance quotes are specific to you, so you'll be asked some details to determine what products you're eligible for.
- Speak with a life insurance broker
Our life insurance quote tool connects you to over 20 of Canada's best life insurance companies. We'll have a licensed insurance agent get in touch to help you choose.
- Finalize your policy selection
Depending on your quote, you might need a doctor's note or medical exam. It's not hard, and your licensed agent will guide you the process.
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Term life insurance covers you for a specific period of time, typically from 5 to 30 years. When you buy term life insurance, you lock in your premium and coverage for the entire term. When your term expires, you may have the option to renew your policy at a higher cost premium or let your coverage expire. Some policies also let you convert to whole life insurance or universal life insurance, typically between one and five years before the policy ends.
When you buy a term life insurance policy, you start by choosing the term length and your coverage amount. If you die within the policy term, your life insurance company will pay out your selected coverage amount, also known as the death benefit, to your beneficiary.
The most common term life insurance policies are 20-year policies.
So how much life insurance coverage do you need? Well it really depends. How many dependents do you have? What types of debts? Do you have a mortgage?
A lot of insurance companies offer an insurance calculator to help you determine the amount of coverage you’ll require. This is a helpful way of determining what you possibly need, and how much the premiums will cost. You can find out more about this by reading our article on the topic: How much life insurance do I need?
Find a great quote today
You’ve made it this far, which is a great start. A next great step is to compare life insurance policies, to find out what type of plan works for you, and how much coverage you might need. After you fill in the necessary applications and take the necessary exams, it’ll take about a month or so for your coverage to be put in place. But once that’s done, you’re off to the races. As long as your premium is paid up, you’re covered.
Life insurance doesn’t need to be complicated or intimidating. By doing your research, comparing life insurance rates, and knowing what it is that suits your needs, you can find a policy that provides you with suitable coverage, and ensures your loved ones have a bit of financial security in the event of your death.
*Ratehub.ca is not affiliated or otherwise associated with Hub International Canada.
Still thinking about getting life insurance?
Who needs a life insurance quote?
What is the difference between term and whole life insurance?
What other types of life insurance are available?
What is a life insurance beneficiary?
Matt started his professional career at CARPROOF where he honed his marketing and analytical skills for over 3 years. Matt then took his wealth of experience to Ratehub.ca’s Toronto offices, working with insurance providers, agents, and brokers to grow and expand the Insurance business unit. He is a thought leader in the community and a valuable insurance resource to respected publications like the Globe & Mail, Toronto Star, Huffington Post, Yahoo News, and 680 news radio in Toronto.read linkedin bio
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