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What is term life insurance?

Term life insurance can be an affordable solution to help protect what matters most and reduce your financial stress. 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 and the benefit is payable if the insured dies within the designated term.

Man and woman giving children piggy back rides

Why choose term life insurance?

Term life insurance is considered the most affordable life insurance option. It provides a fixed death benefit amount 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 help, among other things:

  • 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. You choose the coverage option that best suits your budget.

Premiums are guaranteed and will only increase if the policy is renewed for another term. If your needs ever change and you want lifetime protection, Foresters term life insurance gives you the option to convert to permanent whole life coverage, without the stress of having to provide additional evidence of insurability.

1Underwritten by Foresters Life Insurance Company.

2Foresters will pay the eligible designated charitable organization in the name of the insured. The designated charitable organization must be registered as a charity with the Canada Revenue Agency. The Charity Benefit will only be paid if an eligible beneficiary for the benefit has been designated, prior to, and is in effect on, the date of the death of the insured.

412599 CAN (08/19)

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