20-year Term Life

As you go through life, there are a lot of important milestones along the way, like buying a home, watching your family grow and planning your children’s education. As your family grows, so do your responsibilities. And it becomes more important than ever to safeguard and help protect the life you’ve built for your loved ones.

If you want long-term protection for your loved ones and assets, 20-Year Term Life Insurance is the ideal choice, offering you an affordable way to help safeguard your loved ones’ financial future.

CAA Member Exclusive Benefit: Your coverage will increase by 2 per cent every year – at no extra cost to you (for up to 5 years).1

  • Coverage amounts from $50,000 to $1 million
  • Insurance rates won’t change for 20 years
  • Save 10% to 20% on rates with coverage of $250,000 or more
  • Critical Illness benefit included
  • Health Service Navigator® to help you make informed health care decisions2

No benefit is payable under the 20-Year Term Life Insurance plan in the case of suicide within two years of the effective date of the coverage. We will instead return all premiums paid, without interest. Please refer to the Suicide Exclusion section in the sample policy for full details.

This is not a contract. Actual terms and conditions are detailed in the policy issued by Manulife upon final application approval. It contains important details concerning exclusions, conditions and limitations. It is important that you read your insurance policy when you get it to understand exactly what you are covered for.

See the sample policy for detailed information on benefits, limitations and exclusions. View 20-Year Term Life Insurance policy (PDF).

Health Service Navigator® is offered through The Manufacturers Life Insurance Company (Manulife).

Canadian residents aged 18-55 are eligible.

Age4 Male Female
18 to 30 $6.64 $5.40
31 $6.68 $5.50
32 $6.70 $5.58
33 $6.74 $5.70
34 $6.76 $5.80
35 $6.80 $5.92
36 $7.18 $6.04
37 $7.56 $6.16
38 $7.96 $6.46
39 $8.34 $6.78
40 $8.74 $7.12
41 $9.40 $7.48
42 $10.08 $7.86
43 $10.76 $8.30
44 $11.44 $8.76
45 $12.12 $9.22
46 $13.68 $9.86
47 $15.22 $10.52
48 $16.78 $11.18
49 $18.34 $11.84
50 $19.88 $12.48
51 $22.44 $14.84
52 $25.00 $17.20
53 $27.54 $19.54
54 $30.10 $21.90
55 $32.66 $24.24

3 Non-smokers are those who have not used any form of tobacco or tobacco cessation products in the past 12 months.

Age means the age attained by the applicant (member or spouse) as of the first Premium Due Date.

Please note that plan rates are not guaranteed and are subject to change at any time if you are not insured. Once insured, rates are guaranteed to remain the same throughout the duration of your term. Rates are subject to change upon renewal.

Age4 Male Female
18 to 30 $9.70 $7.28
31 $10.28 $7.86
32 $10.86 $8.44
33 $11.44 $9.02
34 $12.02 $9.60
35 $12.62 $10.18
36 $14.06 $11.16
37 $15.52 $12.12
38 $16.98 $13.08
39 $18.42 $14.04
40 $19.88 $15.02
41 $22.22 $16.22
42 $24.54 $17.42
43 $26.86 $18.64
44 $29.20 $19.84
45 $31.52 $21.04
46 $34.54 $22.94
47 $37.54 $24.86
48 $40.54 $26.76
49 $43.56 $28.64
50 $46.56 $30.54
51 $51.60 $33.80
52 $56.64 $37.04
53 $61.70 $40.28
54 $66.74 $43.54
55 $71.78 $46.78

4 Age means the age attained by the applicant (member or spouse) as of the first Premium Due Date.

Please note that plan rates are not guaranteed and are subject to change at any time if you are not insured. Once insured, rates are guaranteed to remain the same throughout the duration of your term. Rates are subject to change upon renewal.

Our 30-day guarantee

If, for any reason, the coverage you purchased to help protect you and your loved ones does not satisfy your needs, you may simply request a refund within 30 days of receiving your policy. Any premiums paid for the coverage will be promptly refunded.5

Ready to apply for Term Life Insurance?

The purpose of life insurance is to help protect your loved ones should the unthinkable happen. The money from your life insurance could be used to take care of your loved ones living expenses, mortgage payments, outstanding debts and credit card payments, childcare and education expenses, funeral costs, or any other expenses. The money could also be left as a gift to a loved one and/or favourite charity or be used to protect the value of your estate and/or business.

As your lifestyle changes, so do your life insurance needs. Major life events like getting married, purchasing a home, having a child or buying a business can all increase your need for life insurance, making it important that you review your current life insurance coverage each year to ensure it's enough to meet your needs.

The amount of life insurance that's right for you depends on your unique personal and financial situation, including whether you have a spouse and/or children, your existing assets, your liabilities, etc.

There are four main reasons why our Term Life Insurance is a smart alternative to mortgage life insurance:

Mortgage life insurance typically pays the death benefit to the lender who holds your mortgage(s). Our Term Life Insurance will pay the death benefit directly to your beneficiary, giving them more control over how that money is spent.

With mortgage life insurance, your coverage decreases as your mortgage decreases. With our Term Life Insurance, your coverage amount stays the same.

With mortgage life insurance, you have to re-apply every time you change lending institutions or buy a new home. With our Term Life Insurance, your insurance is automatically renewed – with no medical questions asked at the time of renewal – unless you want to increase your coverage. You can cancel your plan any time you wish.

Depending on your age and health, the premiums for mortgage insurance can also be much higher than for Term Life protection by CAA.

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