Life Insurance Quotes Canada

Life Insurance Quotes Canada_900

Years ago, obtaining a life insurance quote was a tedious process. Today, most companies allow you to obtain a life insurance quote almost instantly online. To save you some time and give you an idea of how much life insurance costs, I have collected some life insurance quotes from companies operating in Canada.

RBC Insurance

In order to apply for a term life insurance loan you must be a Canadian citizen and have lived in Canada for at least 12 months. You must be at least 18 years of age.

  • Term life insurance worth $125,000 for a 35 year old male who does not smoke: $185.25 annual premium.
  • Term life insurance worth $125,000 for a 35 year old male who does smoke:       $335.50 annual premium.
  • Term life insurance worth $125,000 for a 35 year old female who does not smoke: $156.13 annual premium.
  • Term life insurance worth $125,000 for a 35 year old female who does smoke:    $259.88 annual premium.

Canada Protection Plan

CCP also offers life and travel insurance. They have a no-medical insurance option if you wish to avoid a medical examination.

  • Term life insurance worth $125,000 for a 35 year old male who does not smoke: $335.00 annual premium.
  • Term life insurance worth $125,000 for a 35 year old male who does smoke:       $566.25 annual premium.
  • Term life insurance worth $125,000 for a 35 year old female who does not smoke: $265.00 annual premium.
  • Term life insurance worth $125,000 for a 35 year old female who does smoke:    $431.25 annual premium.

Life Insurance Quotes

Sun Life Assurance Company of Canada

Life insurance coverage is only available to residents of Canada.

  • Term life insurance worth $125,000 for a 35 year old male who does not smoke: $154.80 annual premium.
  • Term life insurance worth $125,000 for a 35 year old male who does smoke:       $283.80 annual premium.
  • Term life insurance worth $125,000 for a 35 year old female who does not smoke: $133.80 annual premium.
  • Term life insurance worth $125,000 for a 35 year old female who does smoke:    $204.60 annual premium.

Transamerica Life Canada

Transamerica is a large insurance company serving Canada, the United States, Hong Kong, Singapore and Bermuda.

  • Term life insurance worth $150,000 for a 35 year old male who does not smoke: $212.00 annual premium.
  • Term life insurance worth $150,000 for a 35 year old male who does smoke:       $375.50 annual premium.
  • Term life insurance worth $150,000 for a 35 year old female who does not smoke: $176.00 annual premium.
  • Term life insurance worth $150,000 for a 35 year old female who does smoke:    $287.00 annual premium.

As you can see, women have lower premiums and non-smokers have the lowest premiums. Some companies don’t just penalize for smoking tobacco, some ask about betel nut use and drug use. All of the premium totals are annual, some companies offer monthly payments, just divide the annual cost by 12. All of the life insurance quotes listed above are from companies in Canada.

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