Transamerica is the leading Canadian provider of term life insurance. They offer Term 10, Term 20, and Term 30 plans. Each of the policies are guaranteed renewable and convertible to a permanent plan without a medical.

The features below are part of the reason Transamerica life term policies (distributed through independent brokers) can be a great fit.

1. Preferred rates.  That is, preferred rates on policies in excess of $250,000. Preferred rates are available to individuals who are in excellent health and have excellent family health history. They can provide premiums which are up to 30% lower than standard life insurance rates.

2. Multi-life policies. This allows a husband and wife to be insured under one policy, thus reducing the overall cost of individual insurance.

3. Term 30 plans. Their term 30 plans offer two unique features:

a) A reduced paid-up feature, which allows the insured to stop paying after a limited number of years and allowing a reduced amount of coverage paid-up for life.

b) The insured can surrender the coverage and take its cash-value.

4. Special rate for high net-worth clients. Transamerica introduced a special, discounted, band six rate for high net-worth individuals who are looking for a life insurance plan in excess of $2.5M.

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