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What is term life insurance?

Term life insurance can enable your family to continue to meet financial obligations such as mortgage payments and postsecondary education in the event of your death. With a fixed premium and a set amount of coverage, term life insurance is useful if you only need coverage for a specific time period such as 10, 20 or 30 years, and pays a benefit if you die within the designated time.

 

Why choose term life insurance?

Term life insurance is considered the most affordable life insurance option. It provides a fixed death benefit for a fixed premium payment, over a fixed period of time. Your premium payments are guaranteed and will remain level for the term you select. Your loved ones can use the death benefit to:

  • Pay off a mortgage
  • Provide for your children's education
  • Protect your family's business interests
  • Provide cash for future investments

Term insurance is initially less expensive than permanent insurance and offers an affordable option to cover short-term financial obligations.

Product overview

Term 10, Term 20 and Term 30


Foresters Financial™ offers term life insurance1 for terms of 10, 20 and 30 years. The death benefit on these products can cover a major debt like a mortgage or provide an income to help take care of children until they are old enough to leave home or complete their postsecondary education.

Premiums are guaranteed and will only increase if the policy is renewed for another term. You also have the option to convert all or part of your term policy to any of our permanent insurance plans without evidence of insurability.

 

1Underwritten by Foresters Life Insurance Company.

412599 CAN (10/16)

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