Term Life Insurance Vancouver
- All insurance policies are based on cost of insurance ( COI).
- The cost goes up every year because your risk of dying is higher as you get older.
- It is also based on your health. For Example, whether you smoke or not affects your rate.
- And if you are a female, your rate is lower due to having better life expectancy.
- Some refer to it as temporary insurance because it has a term or set period of coverage.
- And you have different kinds of terms. Generally, there are 3 kinds of Term Insurance.
ANNUAL RENEWAL TERM (ART)
Coverage is for a one -year term, renewable every year with higher price. It costs much less you are young but will be very expensive when you are old.