20 year term insurance rates

Comparing 10, 15, and 20-Year Term Insurance Rates, Life Insurance Canada

Comparing 10, 15, and 20-Year Term Insurance Rates Term insurance policies provide level premiums for a stated term. As a rule of thumb, the longer the term, the higher the initial premium. The reason is that the insurance company carries a greater risk because you have a greater chance of dying the longer you live. When you buy term insurance, you should try to match up the type of term policy with the length of time you need insurance. If you need the coverage for 20 years, you would be better off choosing a 20-year term than a 10-year term. An example: $500,000 for a 40-year-old, male non-smoker would be $34.20 a month with Equitable Life at standard rate — yet, that same plan...

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