Term life insurance quote for Alberta
How much is term life insurance? Enter your age and the coverage you want for a monthly price from a major Canadian insurer's current Alberta rates. No email or phone number needed, and no sales call unless you ask for one.
Priced online now: 10 and 20-year term at ages 18 to 65, and 30-year term at 18 to 55, smokers and non-smokers.
Your details
Insurers use your age at your nearest birthday, past or coming.
Sex
Tobacco
Used tobacco or nicotine in the past 12 months, vaping included? Choose Smoker.
Priced online from $100,000 to $5 million (10 and 30-year term to $4,999,999). Bigger policies cost less per $1,000, in steps at $250,000, $500,000, $1 million, $2 million and $5 million.
Not sure how much you need? Our life insurance needs calculator works it out and brings the amount back here.
Term
The price stays level for the whole term. Choose one that lasts until the mortgage is paid or your youngest is independent.
Prices are Alberta rates. Living elsewhere in Canada? Your province's price is confirmed when we quote.
Your estimate
$0.00 a month
Not available online yet
No obligation. Trevor Lawrence, CFP® compares insurers for you and gets you your exact price and health class.
If you qualify for a preferred health class
The insurer behind these rates offers them from $2 million of coverage: two classes for very healthy non-smokers, one for smokers. The discount depends on the term and on your age when you apply: it holds steady to 45, grows by about a point for each year of age from 46 to 50, and from 50 on stays five percentage points bigger than at 45. Preferred classes need underwriting, the insurer's health check when you apply; the main price shown is the standard class.
The same policy at other amounts
| Coverage | Monthly | Yearly | Per $1,000 a year |
|---|
Press a row to use that amount. "Per $1,000 a year" is the yearly price for each $1,000 of coverage.
About this estimate
Prices here are estimates for a healthy applicant in the insurer's standard health class, where most healthy applicants start, with no extra benefits (riders) added. When you apply, the insurer's underwriting looks at your health, history and lifestyle and sets your class and final price, which can be lower or higher.
Alberta rates as of October 2026. Paying monthly costs 8% more over a year than paying once a year.
When the term ends, coverage can usually be renewed without a medical at a higher price set by your age then, or converted to permanent coverage that lasts for life.
What $500,000 of 20-year term costs a month, by age
Monthly premiums for a healthy applicant in the standard health class, Alberta rates as of October 2026. Your own age, health and the amount you choose change the price; use the calculator above for yours.
| Age | Female non-smoker | Male non-smoker | Female smoker | Male smoker |
|---|---|---|---|---|
| 25 | $21.04 | $29.42 | $33.08 | $53.73 |
| 30 | $21.94 | $30.43 | $39.69 | $58.34 |
| 35 | $25.17 | $31.79 | $61.43 | $81.04 |
| 40 | $35.96 | $47.38 | $95.81 | $130.74 |
| 45 | $55.03 | $72.98 | $141.30 | $223.02 |
| 50 | $89.01 | $125.36 | $221.85 | $357.90 |
| 55 | $160.94 | $226.56 | $350.60 | $585.20 |
| 60 | $294.62 | $403.20 | $555.19 | $911.54 |
| 65 | $486.41 | $675.00 | $847.19 | $1,354.44 |
What term life insurance costs in Alberta
Term life insurance pays a tax-free lump sum to the people you name if you die during the term. Because it covers a set window, usually 10, 20 or 30 years, and builds no cash value, it is the least expensive way to buy a large amount of life insurance. For a healthy non-smoker in their twenties or thirties, several hundred thousand dollars of coverage often costs less a month than a phone bill.
The calculator above works with the six things that set the price (your age, sex, health, tobacco use, the amount and the term), using the insurer's standard health class for a healthy applicant.
Why more coverage can cost less
Term insurance is priced per $1,000 of coverage, and the rate per $1,000 drops at set amounts: $250,000, $500,000, $1 million, $2 million and $5 million. Part of what every policy costs is the same whatever its size (the underwriting, the paperwork, keeping it on the books), so spread over more coverage the cost per $1,000 falls. Just under one of those steps, the next step up can cost about the same or even less. For a 28-year-old woman who does not smoke, $200,000 of 10-year term costs $194.39 a year, while $250,000 costs $127.54. The calculator tells you when a bigger amount would cost you less.
Choosing the term: 10, 20 or 30 years
Match the term to the years someone depends on your income: until the mortgage is paid, the youngest child is through school, or you reach retirement with savings in place. A longer term costs more each month but holds today's price for longer.
When a term ends, most policies can be renewed without a medical, but the renewal price is set for your age then and can be several times higher. Many can also be converted to permanent coverage. Our term premium staircase shows how renewals step up, and convertible term shows what converting costs.
What happens after the estimate
An application asks about your health, family history, lifestyle and finances. For larger amounts, or as you get older, the insurer may also ask for a paramedical exam or blood work. Underwriting then sets your health class and your final price. It can come in lower than this estimate if you qualify for a preferred class, or higher if a health condition calls for a rating.
Book a call and Trevor will go through the questions with you, check the price with other insurers where it helps, and walk you through the application.
How the estimate is made
- Prices are a major Canadian insurer's term rates for Alberta residents as of October 2026, in the standard health class for a non-smoker or a smoker, with no riders (extra benefits such as a disability waiver of premium).
- Monthly prices are for pre-authorized monthly payments: each month is 9% of the annual premium, so paying monthly costs 8% more over a year than paying once a year. At amounts other than those in our rate table, a price can differ by a cent or two from the insurer's own.
- Your age is your age at your nearest birthday, as insurers count it.
- Where your age falls between two ages in our rate table, the price follows the curve between them: within a cent or two a year of the insurer's own figure at $500,000, and within about a dime at $5 million, as the gap grows with the amount. Ages, terms and amounts outside the table are not estimated; for those, ask us.
- The smallest policy is $100,000 of coverage.
- At $2 million of coverage and more, the insurer behind these rates offers preferred health classes: two for non-smokers, at 95% and 90% of the standard rate on 20-year term and 90% and 85% on 10-year (five points more off from age 50), and one for smokers at 92.5% on 20-year and 87.5% on 10-year (also five points more off from 50). From 46 to 49 the discount grows a step each year, as the insurer's own prices do. The calculator shows them on 10 and 20-year term, worked out from those percentages, or the insurer's own figure where our table holds it. For 30-year term, ask Trevor.
- Rates change from time to time. The insurer's price on the day you apply is the one that counts.
Term life insurance questions
How much is term life insurance in Alberta?
It depends most on your age, whether you smoke and how much coverage you choose. In the standard health class, $500,000 of 20-year term costs a 35-year-old woman who doesn't smoke $25.17 a month, and a man the same age $31.79. The table above shows ages 25 to 65, and the calculator prices your own age and amount.
What affects the price of term life insurance?
Six things: your age, your sex, your health, whether you use tobacco or nicotine, the amount of coverage and the length of the term. Age matters most: prices rise slowly through your twenties and faster after 35. The amount matters in steps, because the rate per $1,000 drops at $250,000, $500,000, $1 million, $2 million and $5 million.
Why do 18, 19 and 20-year-olds pay the same?
The insurer behind these rates charges its youngest applicants one price, so at 18, 19 and 20 the price is the same, and it rises slowly through the twenties after that. At those ages the chance of dying during the term is very low and changes little from one year to the next.
How much more do smokers pay?
On $500,000 or more of 20-year term, about one and a half to two times as much before 30, and about two and a half to three times from 35 to 50; under $250,000 the gap is narrower. At 35, $500,000 of 20-year term costs a woman who smokes $61.43 a month against $25.17 for a non-smoker, and a man $81.04 against $31.79. Insurers generally count any tobacco or nicotine use in the past 12 months, vaping included. If you quit, ask your insurer about moving to non-smoker rates once you have been nicotine-free for 12 months.
What happens when the term ends?
Most term policies can be renewed without a new medical, for another term at a price set by your age at renewal. That price is often several times what you paid, so plan for the need to have shrunk by then. Before a set age, most policies can also be converted to permanent coverage that lasts for life, again without a medical. Our term premium staircase shows how renewals step up, and convertible term shows what converting costs.
How much life insurance do I need?
A common starting point is enough to pay off the mortgage and other debts, replace several years of income and fund the children's education, less the savings and coverage you already have. Our life insurance needs calculator works it out three ways on your own numbers, and its button brings the amount back to this quote. The individual and family life page explains the kinds of coverage.
Does my life insurance at work count?
Count it, but don't lean on it alone. Group life insurance through an employer is often one or two times your salary, and it usually ends when you leave the job; check your plan booklet or ask your plan administrator what happens to it if you leave. A policy of your own stays with you.
Is the payout taxed?
In Canada, a life insurance death benefit is received tax-free. Naming a beneficiary other than your estate keeps the money out of probate, so it is paid to them directly; for a child under 18, also name a trustee to hold it.
Do I need a medical exam?
Not always. For smaller amounts at younger ages, insurers often decide from your answers to the application's health questions. Larger amounts and older ages can add a paramedical exam, blood work or a report from your doctor.
Which quotes can I get here?
Ten, 20 and 30-year term for women and men, smokers and non-smokers, from $100,000 to $5 million of coverage (10 and 30-year term to $4,999,999): 10 and 20-year term at ages 18 to 65, and 30-year term at 18 to 55, the oldest age the insurer issues it. Our rate table holds ages 18 and 20, then every five years from 25 to 65 (to 55 for 30-year term), plus the ages in between on 20-year term at $500,000 to $999,999, and on the same 20-year term ages 46 to 49 at $2,000,000 to $4,999,999 for a man who does not smoke; an age between two of them is estimated from the two nearest, within a few cents a year of the insurer's own price. For more than $5 million, book a call and Trevor will quote you now.