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Term Insurance -Cheaper by the Dozen

My grandfather owned a bakery and he referred to a box of 15 donuts as a baker’s dozen. 

When it comes to life insurance in Canada, I guess the same holds true. When looking at the premium for $225,000 for a female non- smoker at age 30 with 10-year term insurance, the premium was $18.83 per month with a common carrier. However, for the same person, we increased the benefit to $250,000 and the premium decreased to $12.60 per month.  

That’s a 32% decrease in premium with an increase of 11% in coverage. 

For a male of the same age, for $225,000 of 10-year term insurance, the monthly premium was $23.69 per month and the $250,000 premium was $16.65 per month.

My grandfather would have been proud. The economies of scale are working on your side here!


To learn other ways to save on your insurance, contact corry@maritimeweatlh.com
902-444-7000


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