5-Year Term Life

Features and Benefits of CAA 5-Year Term Life Insurance Plan

The 5-Year term life insurance offers coverage amount ranging from $50,000 up to $500,000. Furthermore, the insurance rate for this plan is locked-in for 5 years and the plan offers 15% per annum on coverage amount of $250,000 or more. You can convert the 5-year term life coverage to the CAA lifetime protection plan or CAA Term 20 life insurance before age 56.

• The 5-Year term life insurance is the best plan for you if you have short-term insurance needs.
• The coverage is an affordable way to protect your loved ones. It is available to Canadian residents from age 18 to 70.
• The plan includes an optional 5% Automatic Increase Benefit. You don’t need to answer any medical exam or question to obtain this benefit.
• The coverage amount for this plan ranges from $50,000 to $500,000.
• If your coverage amount is between $250,000 and above, you can save up to 15% per year.
• The insurance rate for this plan is locked-in for a period of 5 years.
• If you are applying for coverage of $50,000 or $100,000, and you are aged 50 or below, your application could be fast and easy, thanks to the simplified application.
• In the event of your death, your beneficiaries will receive a tax-free lump sum.
• The plan can be converted to the CAA Lifetime Protection Plan or CAA Term 20 Life Insurance before you reach age 56.
• If you are diagnosed with a terminal illness with barely 12 months or less to live, you could receive an advance up to 50% or a maximum of $100,000. This feature is provided in the Living Benefit cash advance.
• In case of suicide within 2 years of the effective date of the coverage, the insured will not be eligible for any benefit.

Ask your Broker about CAA 5-Year Term Life Insurance Quotes and Compare!