Term Insurance
Term life insurance
Term 10 | Term 20 | Term 30/65
We are not a one-size-fits-all society. We like having things tailored specifically for us. With Equitable’s Term life insurance, you can customize coverage for clients. Find the right Term life insurance that protects their needs and matches their budget.
See the latest updates to our Term solution (February 2024):
www.equitable.ca/term
Features:
• More targeted, competitive pricing
• Yearly renewals after the initial term of level premiums
• Convertibility – convert part or all of the Term coverage to a permanent life policy. Choose from our industry-leading Equimax® Participating Whole Life or Equitable Generations® Universal Life insurance solutions. Age and amount limitations apply for conversion. See the policy contract for more details.
• Flexibility – Turn a T10 into a T20 for up to 25 years of coverage with no renewals. See the policy contract for more details.
• KIND™ benefits – Compassionate Advance* and Bereavement Counselling Benefit
Want to know more?
Visit www.equitable.ca/term
See our Term sample policy pages.
* The Compassionate Advance benefit is a non-contractual benefit that may be changed or withdrawn by Equitable at anytime.
Convertibility - The power of Term life insurance
As clients’ needs change, their insurance should too. Equitable® Term life insurance can help cover a client’s temporary needs today and help protect a client’s permanent needs in the future.
All our Term life insurance solutions give clients the option to convert from a Term to a permanent life insurance policy, regardless of their health at that time!1 Let’s look at some of the flexibility Equitable Term life insurance gives clients.
What happens if…
...a client’s temporary need for protection today extends beyond the initial term of the policy?
Term coverages will renew on an annual basis once the initial term is over, so clients can keep their coverage for longer than the initial term. After the initial term ends, the plan renews and the premiums increase for the next term. However, with our Term 10 plans, the client has some extra flexibility with our Exchange Option. Within the first 5 years of the policy or before the client turns 65 (whichever comes first), clients can exchange their Term 10 plan for a Term 20 plan issued at current age and rates. By exchanging their Term 10 coverage, clients can be covered for up to 25 years. This is all without having to give us proof of continued good health (this means no underwriting!).
…a client has a temporary need now that changes to both a temporary need and a lifetime need later?
A partial conversion might be the way to go! With partial conversion, the client can convert part of their Term coverage amount to a permanent plan before the age specified in the policy contract without proof of continued good health. A partial conversion allows clients to both cover off a short-term need and provide lifetime protection.With a partial conversion, clients can carry over the remaining Term coverage as a Term life insurance rider on the permanent plan.2
By doing this, they not only get the coverage they need, but also:
• Save because there’s only one policy fee; and
• Have the convenience of incorporating both coverages into one policy.
See the Admin Guide for more details.
…a client has a temporary need today that changes to a lifetime need later?
Explore a full conversion! Under a full conversion, clients can convert their entire Term coverage to Equimax®, our industry-leading participating whole life plan, or an Equitable Generations™ universal life plan. By doing this, the client’s need for lifetime protection is covered off along with guaranteed level premiums!To do this, conversion must be done before the age specified in the policy contract. See the Admin Guide and policy contract for more details.
Access the power of Term
Encourage clients to explore the ways that our Term life insurance solutions can meet their needs today!
Want to learn more?
1801 – Term Life Insurance protection
1004 – Case study – Balancing need and affordability
Term Life Insurance Admin/Advisor Guide
1 Conversion must occur prior to the age specified in the policy contract. See contract for details.
Interested in ordering marketing materials? Complete our Life & Health supply order form
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| Form Number | Cover | Marketing Material Name | Available Languages | Product |
|---|---|---|---|---|
| 1271 |
|
5 Reasons for doing business with Equitable File
This advisor piece lists the top 5 reasons why Equitable Life should be your first choice. |
FR | General Content |
| 1346 |
|
A closer look at life insurance File
For advisor use only. This chart takes a closer look at life insurance and highlights some of the key differences between Equitable's term, whole life and universal life products. (Available in PDF Format only.) |
FR |
Participating Whole Life Term Universal Life |
| 1004 |
|
Balancing need and affordability File | FR | Term |
| 1758 |
|
Take a Premium Holiday File | FR |
Critical illness Insurance Term Universal Life |
| N/A | Term Advisor/Admin Guide File | FR | ||
| 2061 |
|
The Ultimate Bundle for Young Professionals File | FR |
Critical illness Insurance Term Universal Life |
| SS2 |
Equimax & Term Certain Annuity Package File
This sales track shows you how to use a Term Certain Annuity to prearrange funding for an Equimax policy. |
FR |
Participating Whole Life Term |
|
| 1025 |
|
Individual Life & Health Products At-a-glance File
This guide can be used as an easy reference to all of Equitable's Life and Health products currently available for sale. |
FR |
General Content Critical illness Insurance Participating Whole Life Term Sales Strategies |
| 1309 |
|
Protecting Yourself and Your Family with Critical Illness and Term Life Insurance File | FR |
Critical illness Insurance Term |
| 1345 |
|
Preferred Underwriting Classifications File
This guide provides an overview of the Preferred Underwriting Classifications that determine the rates for Preferred Term insurance at Equitable. |
FR | Term |
| 1301 |
|
Taking Care of Business with Term File
Whether your client is a sole proprietor, or in a partnership or corporation, the death of an owner or a key employee impacts the business. Business Term Life can help mitigate those risks. |
FR | Term |
| 2039 |
|
Term Insurance Product Summary File
This one page document provides advisors with an overview of the target market, features and benefits specific to this product. |
FR | Term |
| 1801 |
|
Term Life Insurance - Flexible protection that can last a lifetime File
Affordable protection. Rewards for your healthy lifestyle. Adjust your plan to meet your changing needs. |
FR | Term |
| 1255 |
|
Unique Mortgage Protection File
This brochure compares some of the key features of mortgage protection and highlights the advantages of using Equitable Life’s Term insurance over typical mortgage insurance from a lending institution |
FR CH | Term |
| 2114 |
|
Your guide to Term life insurance File | FR | Term |
Resources
- EZcomplete online application
- Advisor/Admin Guide
- Product Summary
- Term life insurance sample policy contract pages
Helping you sell
- Flexible protection that can last a lifetime
- Unique Mortgage Protection
- Taking Care of Business with Term
Sales Solutions
- The perfect balance between need and affordability
- Protecting yourself and your family - with Critical Illness and Term life insurance
- Ultimate bundle for young professionals - UL + Term + CI Riders