Canada life Insurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a designated beneficiary a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner agrees to pay a monthly premiums.Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; for example claims relating to suicide, fraud, war, riot and civil commotion

Term Canada life Insurance

Term life insurance is well-suited to meet high coverage amount, short-term protection needs for the lowest initial premiums.

Permanent Canada life Insurance

Permanent Canada life Insurance life insurance can protect you for your lifetime. There are two types of permanent Canada life Insurance —Whole life insurance and universal life insurance.

While you’re still living, some life insurance policies can:

1.Build tax-advantaged savings you can draw upon as needed for personal or business opportunities.

2.Supplement your retirement income or provide for long-term care or home care for yourself or a family member.

If you have further query please contact Canada Insurance Plan.