Why would I need life insurance when I am young?
Even younger Canadians can benefit from having life insurance coverage. In fact, when you are starting out, you are even less likely to have money saved to cover existing debt such as loans and credit card balances. Should the unthinkable happen, this can mean leaving a financial burden for your family.
The good news is that covering your debt does not need to cost a lot. In fact, term life insurance rates are lower when you are younger and often can cost less than $10 a month. And since term life insurance is very flexible, as your outstanding debts increase and decrease and as your number of dependents changes over time, you can always apply for additional coverage - and you can also reduce or even cancel your coverage at any time.
There are also benefits to arranging for your life insurance when you are younger. The reality is, not everyone will be approved for life insurance so you are more likely to be approved for coverage before any health concerns arise.
The University of Ottawa cares about your financial future and has chosen Canada Life to provide term life insurance coverage at low group rates. Premiums start as low as $3 a month based on your age, smoking status and gender. And once approved, your coverage cannot be cancelled due to changes in your health, although you can reduce or cancel your coverage at any time.
To learn more, call Canada Life at 1-800-387-0649 or visit them online. No matter where you are in your decision on getting life insurance, Canada Life is available to help.
Group Term Life Insurance
University of Ottawa alumni and their spouses can access low group rates on life insurance through our partnership with Canada Life.
Enroll online for up to $250,000 of coverage, normally without a medical exam. Guaranteed renewable to age 75.
Contact Canada Life Insurance for more information and to get a free quote: