Buying life insurance doesn’t have to break the bank. Start by doing your research. As you search for life insurance quotes in Ontario, know that rates vary, and so do the types of coverage.
PolicyMe offers term life insurance, which is what most families in Ontario need. This type of life insurance offers families the most flexible and versatile coverage. It lets you pay for what you need, when you need it and gives you the peace of mind that your loved ones will have financial security if you happen to pass away during the term.
If you’re living in Ontario, there are two types of life insurance you can choose from: term life insurance and permanent coverage (also known as whole or universal life insurance).
The biggest difference between the two? Term life insurance policies are more affordable, and let you choose the length of coverage (usually 10 to 30 years), while whole policies last your entire life and are about 4x to 5x more expensive.
Not at all! It can be easy to fall into the trap of thinking that a lower price means that you’re receiving less coverage or less quality coverage. Life insurance coverage is the same, no matter the provider you buy it from. The differences in rates simply means that, for a given age, a provider is pricing the policy lower to “win the sale”.
In our case, we've also eliminated a lot of unnecessary steps from the application process – like requiring everyone to get a medical exam even if they're perfectly healthy. This has allowed us to cut down on underwriting costs and we can then pass on the savings to you!