Compare what you pay, and what you build, across three ways to hold life coverage, from now to age 100.
Annual premium by attained age
How this works.Term is cheapest while you are young but its
premium climbs at every renewal and coverage usually ends around age 80; the line simply stops.
Whole life charges a higher level premium for life and, in exchange, builds a
cash surrender value you could access. Term-100 sits in between: a level premium
that never changes, permanent coverage, but little or no cash value. At age 100 a
T-100 policy matures: premiums stop (some contracts pay the death benefit then). Figures are
illustrative and simplified for teaching.
Educational illustration of standard Canadian insurance concepts. Figures are illustrative, not an insurer’s rates.
Illustration only, not a quote or advice. Figures are simplified for education and do not
reflect any specific insurer's rates. Consult a licensed advisor.