LIFE INSURANCE
Term 30 life insurance
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Coverage for thirty years, at a cost fixed for that whole period. It is the longest term commonly issued, and it is the term whose availability narrows fastest with age.
What decides a thirty year contract
- Age at issue decides availabilityInsurers set a maximum age at which a thirty year term can begin. Past that age the contract is not offered, whatever the health of the applicant.
- Thirty years is long, and it still endsThe contract has a final year. What happens on that date, renewal, conversion, or nothing at all, is written at the start.
- Health is assessed once, at the beginningThe cost is set from the health recorded when the contract is issued. An illness that arrives later does not change the cost during the term and does not end the contract while premiums are paid.
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No price appears on this page, and none is sent by email. What a contract costs depends on the person and the design, and no honest figure can be produced from three answers.
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About the author
Jose Salloum is a Financial Security Advisor (Conseiller en sécurité financière) licensed by the Autorité des marchés financiers in Quebec, by the Financial Services Regulatory Authority of Ontario, and by the Insurance Council of British Columbia. Licensed since 2001, he works with Canadian families, business owners and incorporated professionals.
He is the founder of Canadian Wealth Creation Centre Inc. (CWCC), registered with the AMF, and of its educational branch IBCFinancial.com. He holds the Infinite Banking Concepts® Authorized Practitioner certification from the Nelson Nash Institute, a private certification rather than a regulatory licence.
CWCC is not registered with CIRO and does not provide securities advice. This page is general education and not advice on any individual file.
Important disclosures
This page is education, not advice. The content is general information prepared by Canadian Wealth Creation Centre Inc. It does not take your circumstances into account and is not a recommendation to buy, hold or cancel any contract. CWCC is not registered with CIRO and does not provide securities advice. The firm places insurance in Quebec, Ontario, Alberta, British Columbia, Manitoba and New Brunswick; clients elsewhere are served by advisors licensed in their province.
Nothing here was written with your file in front of us. Read it to understand the subject, then judge it against your own situation, ideally with someone who is licensed where you live and who has seen your numbers.