Term Insurance


Term Insurance comes in several different term lengths. For more information about term life insurance contact us: 1-888-592-4614. In Victoria - HMR Insurance and Employee Benefits Ltd.


Term 10 Insurance

10 year term insuranceInsurance rates are guaranteed for 10 years from the date of purchase. Term 10 provides the lowest rates possible for all term insurance. At the end of the 10 year period, insurance can be renewed for an additional 10 years, converted to a permanent insurance policy, or the face amount can be reduced or canceled.

Maximum Conversion Age: Typically age 65 or 70
Policy Expires: Typically age 85

Special Features

  • Guaranteed Insurability Option
  • Accidental Death and Dismemberment
  • Waiver of Premium

 

 


Term 20 Insurance

While more expensive than Term 10 insurance, extending the premium guarantee out to two decades provide more cost certainty and security than Term 10. A single Term 20 is often slightly cheaper than two back to back Term 10 policies.

Insurance rates are guaranteed for 20 years from the date of purchase. Term 20 provides economical rates which are guaranteed for an extended period. At the end of the 20 year period, insurance can be renewed for an additional 20 years, converted to a permanent insurance policy, or the face amount can be reduced or canceled.

Maximum Conversion Age: Typically age 65 or 70
Policy Expires: Typically age 85

Special Features

  • Guaranteed Insurability Option
  • Accidental Death and Dismemberment
  • Waiver of Premium

Select a Term (10-40 years)

Popular for mortgage or credit insurance, Select a Term insurance allows for customized insurance terms which meet your needs. With the recent popularity of the 35 year mortgage, Select a Term provides a level cost of insurance for the entire length of your mortgage or credit amortization. Select a Term rates vary by the length of the rate guarantee. Select a Term insurance is often accompanied by a Supplementary Income Option, which is designed to provide a benefit in the event of disability equal to the monthly loan payment. Additional benefits like Critical Illness can be added to enhance the policy, please see our Home Protection Plan for more information.

Insurance rates are guaranteed for anywhere from 10 to 40 years from the date of purchase. Select a Term provides cost certainty and security for the entire length of your mortgage.  At the end of the Select  a Term contract,  insurance can be renewed for an additional term up to age 70, converted to a permanent insurance policy, or the face amount can be reduced or canceled.

Maximum Conversion Age: Typically age 65 or 70
Policy Expires: Typically age 85

Special Features

  • Supplementary Income Option
  • Critical Illness Option
  • Guaranteed Insurability Option
  • Accidental Death and Dismemberment
  • Waiver of Premium

 


HMR Insurance and Employee Benefits Ltd. in Victoria, providing life insurance to British Columbians since 1982. Contact us: 1-888-592-4614 or in Victoria - (250) 592-4614

 
 

HMR Employee Benefits Ltd. 206-2187 Oak Bay Avenue - Victoria , BC V8R 1G1 PHONE: (250) 592-4614 - TOLL FREE: 1-888-592-4614 Fax: (250) 592-4953 - EMAIL:
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