Why life insurance?
Life insurance pays a tax-free amount to the people you choose if you pass away. It can pay off the mortgage, replace your income, cover children's education and final expenses, so the people you love can stay in their home and keep their plans on track.
Types of life insurance
- Term life — affordable protection for a set period (10, 20 or 30 years, or to age 65), while your family needs it most.
- Whole life — lifelong coverage with level premiums that builds cash value over time.
- Universal life — permanent coverage with flexible deposits and tax-advantaged growth, often used for estate planning.
How much coverage do I need?
A common starting point is your debts (like the mortgage) plus several years of income and any future costs such as education. Lovejot can work through the numbers with you and show you what that coverage costs with different insurers.
Talk to Lovejot about your options
Every family is different, so Lovejot looks at your age, health, budget and goals and compares plans from Canada's leading insurers for you. There's no cost and no obligation.
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