Life Insurance Calgary

Term 100 Insurance


Term 100 Life Insurance is actually a form of Permanent Life Insurance. And it is the most basic form of permanent life insurance.

  • Premiums are paid up to age 100. The coverage continues after age 100 even though you have stopped paying premiums.
  • Premiums are level and are guaranteed not to increase.
  • The death benefit or face amount of insurance is also fixed.
  • Most have no cash value. This means that you do not get any return of premium if the policy is canceled prior to death, and it has no tax advantaged savings component.

Be Careful: Since most all Term 100 plans have no cash value it is easy to lapse your policy by missing a premium payment.

Important Tip: Consider using Universal Life Insurance, because most universal life insurance plans have term 100 already inside it. This means, the universal life insurance is priced virtually the same as term 100, but it has much more flexibility and many advantages.

For example, if you miss a premium payment your cash value could cover that payment for you, that way your policy won’t get lapsed.