Term Life Insurance for Canadians | Ezeife Financial
Term Life Insurance · Across Canada

Protect Your Family
Affordably. Today.

Term Life Insurance pays your loved ones a lump sum if you're no longer there to provide. It's straightforward, affordable, and exactly what most Canadian families need first. No jargon. No pressure.

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Is This Right for You?

You probably need
Term Life if…

Term Life is the most straightforward form of life insurance. It protects your family for a fixed number of years at a fixed monthly cost. Here's when it makes the most sense.

Let's find your fit, free
Quick Fit Check
This is a fit if you…
  • Have a spouse, partner, or children who depend on your income
  • Carry a mortgage, car loan, or other debt your family couldn't handle alone
  • Want the most coverage for the lowest possible monthly cost
  • Are a new immigrant building your financial foundation in Canada
  • Are self-employed with no employer benefits. You are your own safety net
What Is Term Life Insurance?

Simple protection.
Real peace of mind.

Term Life Insurance pays your family a lump sum, called a death benefit, if you pass away during the policy term. That money can replace your income, pay off the mortgage, cover your children's education, or simply keep the rent paid and the groceries covered.

You choose the coverage amount and the term length. You pay a fixed monthly premium for the duration of that term. If you pass away during that time, your beneficiary receives the full payout: tax-free, directly to them, with no probate.

There are no complicated investment components, no hidden fees, and no confusion. It does exactly one job: it protects the people who depend on you, for the years they depend on you most.

"The most affordable way to give your family significant financial protection during the years they need it most."

Common Term Lengths
10-Year Term
Lowest premiums. Best for short-term needs like a new mortgage, young children, or a tight budget right now.
20-Year Term
The most popular choice. Covers you through the years your family depends on you most, and balances cost with protection.
30-Year Term
Maximum protection. Ideal if you're young, have a long mortgage runway, or want coverage that lasts through retirement age.
Term-to-100
Permanent coverage without cash value. Fixed premiums for life. Often used for final expenses or estate planning.
How It Works

From first call
to fully protected: 5 steps

The process is simpler than most people expect. Here's exactly what happens when you get Term Life Insurance with Ezeife Financial.

1
Free 20-Minute Consultation
We talk on the phone or video, whatever works for you. I learn what your family needs, what your budget looks like, and what term length makes sense. Zero forms. Zero commitment.
2
I Shop the Whole Market for You
I compare rates from 10+ Canadian carriers: Manulife, Sun Life, Canada Life, Empire Life, iA Financial, and more. I present you the best options in plain language. No favourites, just facts.
3
Quick Application (About 15 Minutes)
Once you choose a plan, I complete the application with you. The health questions are straightforward. Most applicants under 45 don't need a medical exam at all.
4
Underwriting & Approval
The insurer reviews your application. Most decisions come back within days to a few weeks. I keep you updated at every step. No silence, no guessing.
5
Coverage Active: You're Protected
Your policy is issued, your beneficiaries are named, and your family is protected. One fixed monthly payment. No surprises, ever.
Why Term Life

6 reasons Canadian families
choose Term Life first

Most affordable coverage
Dollar for dollar, Term Life gives you the highest coverage for the lowest monthly cost, especially when you're young and in good health.
Fixed premiums, no surprises
Your monthly payment stays the same for the entire term. Budget with complete confidence. No rate increases, no surprises.
Tax-free payout
Your beneficiary receives the full death benefit completely tax-free. Every dollar goes to your family, not the CRA.
Convertible to permanent
Most term policies let you convert to Whole or Universal Life later, with no new medical exam. Lock in your insurability now, decide later.
Flexible coverage amounts
From $100,000 to $10M+. We find the exact amount that replaces your income and clears your debts. Nothing more than you need.
Cover the whole family
Add riders for your spouse or children at a fraction of the cost. One policy, complete family protection.
Living Benefits

This isn't just about
what happens when you're gone.

Term Life can work for you while you're still very much alive. Here's what most people never hear about.

Renewable Coverage
When your term ends, most policies let you renew, no medical exam and no re-application required. Your current health doesn't determine your future eligibility.
Convertibility Option
Convert your term policy to a permanent plan at any time, without proving your health again. Guaranteed insurability, no matter what happens to your health in the future.
Optional Riders
Add Critical Illness or Disability Income riders so that if something happens health-wise, you receive a living benefit payout, not just a death claim.
Peace of Mind, Starting Today
The biggest living benefit: knowing your family won't face financial ruin if something happens. That certainty changes how you live and work, right now.
Who It's For

Real people.
Real protection needs.

👨‍👩‍👧
The Growing Family
Young parents · Ages 28–42
"If something happened to me, I need to know they can keep the house and the kids can still go to school."
20-year term covers the mortgage payoff window
Replaces income during peak earning years
Lowest premiums while you're young and healthy
✈️
The New Canadian
New immigrant · Building roots
"I came here to build something. I need protection while I'm building it. I want my family covered if something goes wrong."
Coverage available as soon as you're eligible in Canada
Protects your family locally and supports dependants abroad
Affordable premiums to build your foundation on solid ground
💼
The Solo Business Owner
Self-employed · No group benefits
"My business is my income. If I'm gone, I need my family protected and my business debts covered, not left as their problem."
Covers business loans and personal debt simultaneously
Can be structured as key person coverage
Individual policy, no employer group plan required
Compare Your Options

Term vs. Whole vs.
Universal Life

Not sure which type of life insurance is right for you? Here's a plain-language comparison. Each type serves a different purpose, and many Canadians end up with more than one over their lifetime.

Feature Term Life ⭐ Whole Life Universal Life
Coverage period 10, 20, or 30 years Lifetime Lifetime
Monthly cost Lowest Highest Medium–High
Cash value / savings None Yes, guaranteed growth Yes, investment options
Fixed premiums Yes, always Yes, always Flexible (adjustable)
Tax-free payout Yes Yes Yes
Can convert to permanent Yes (most policies) Already permanent Already permanent
Best for Income replacement, mortgages, young families Estate planning, lifelong protection Wealth building + lifetime protection

Not sure which fits your situation? That's exactly what the free consultation is for. No pressure, just clarity.

Common Questions

Everything you've been
wondering about

How much does Term Life Insurance actually cost?
It depends on your age, health, the term length, and the coverage amount. A healthy 30-year-old can often get $500,000 of coverage for significantly less than most people guess, often less than a streaming subscription. The only way to know your actual number is to ask. That's exactly what the free consultation is for. No obligation, no sales pitch.
Do I need a medical exam to get approved?
Many applicants, especially those under 45 in reasonable health can get approved with a simple health questionnaire and no medical exam. If a paramedical exam is required, the insurer arranges it and covers the cost. It's usually just a quick blood pressure check and blood draw at your home or a clinic, at your convenience.
Can I cancel my policy at any time?
Yes. You can cancel your Term Life policy at any time with no penalty. Since term policies have no cash value, cancelling simply ends your coverage. Most insurers also offer a free-look period of 10–30 days after your policy is issued. If you change your mind within that window, you receive a full refund.
What happens when my term ends?
You have several options: renew your policy at a higher (age-adjusted) premium, convert it to permanent coverage without a new medical exam, purchase a new policy, or let the coverage lapse if you no longer need it. I reach out to my clients as they approach renewal so we can review the right next step. Your situation in 20 years may look very different from today.
Is the death benefit taxable in Canada?
In most cases, life insurance death benefits paid to a named beneficiary are received completely tax-free in Canada. The payout bypasses probate and goes directly to your beneficiary, not your estate. This is one of the most powerful financial advantages of life insurance, especially for estate planning purposes.
I'm a new immigrant to Canada. Can I get coverage?
Yes, in most cases. Eligibility depends on your immigration status and how long you've been in Canada. Permanent Residents, citizens, and many valid work permit holders can qualify. I've helped many new Canadian families get covered. I know which carriers work best for your specific situation and status, and I'll guide you through the process start to finish.
Mukosolu Blessing Ezeife, Licensed Life Insurance Agent
Mukosolu Blessing Ezeife
Licensed Life Insurance Agent · Canada-wide
I'm not a salesperson. I'm an independent advisor. I don't work for any single insurance company, which means I shop the entire Canadian market to find what actually fits your life and your budget.
FSRA Licensed · Ontario AIC Licensed · Alberta Greatway Financial MGA Canada-wide Service
Truly Independent Advice
Not tied to any single insurer. I compare 10+ Canadian carriers and present the options that make the most sense for you, no quotas, no favourites.
Zero-Pressure Approach
My job is to educate, compare, and advise, not to push you into a decision. You choose if and when you're ready. No scripts, no rush, no pressure.
Serving Clients Across Canada
All consultations by phone or video. No need to come in anywhere. Fast, convenient, and genuinely personal service, wherever you are in Canada.

Your family's protection
is one conversation away.

Free. 20 minutes. No pressure. No commitment. Just clarity on what it actually costs to protect the people who matter most.

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General information only. Not financial advice. Coverage is subject to underwriting approval, eligibility, and product availability by province. Premiums and coverage amounts vary by age, health, lifestyle, product, and insurer. Mukosolu Blessing Ezeife, Licensed Life Insurance Agent, Canada-wide, operating under Greatway Financial.