Pricing

Monthly premium per $25,000

Male Female
Age as of January 1st* Non-Smoker** Smoker Non-Smoker** Smoker
Under 30 $1.65 $2.46 $1.23 $1.73
30 - 34 $1.83 $2.67 $1.44 $2.04
35 - 39 $2.29 $3.79 $1.83 $2.56
40 - 44 $3.69 $6.40 $2.67 $4.35
45 - 49 $6.04 $10.23 $3.88 $6.17
50 - 54 $9.94 $16.48 $6.13 $10.31
55 - 59 $14.35 $24.52 $10.23 $15.29
60 - 64‡ $17.19 $28.27 $11.33 $17.19
65 - 69† $10.31 $16.10 $8.67 $10.65
70 Coverage Terminates

Plus taxes where applicable. Rates are subject to annual review.

Important information about your premium rates:

*Premiums are calculated based on your age and applicable rate as of January 1 each year. As the rates are in 5-year age bands, premiums will increase as you reach a higher age band.

**Non-smoker rates apply to individuals who, at the time of application, have not used tobacco, nicotine, or cannabis mixed with tobacco in any form whatsoever within the last 12 months and who have provided satisfactory evidence of insurability.

†The premiums shown for ages 65-69 are for renewal of existing coverage only.

‡The value of each unit of insurance will reduce every year on the January 1st coincident with or next following your 61st birthday by 10% of the amount in force at age 60.

Why the drop in value at age 61?

One of the benefits of purchasing Term Life Insurance is that it offers a cost-effective option to people seeking life insurance coverage when they are younger. However, this also means that rates increase with age. By decreasing the unit value for those older than 60, rather than increasing the premium rate, we can offer a reasonably priced product for a smaller amount of coverage. The reduction schedule was designed to provide an affordable solution for those who don’t need as much coverage once their children are grown and their mortgage is paid off.