Term Life Insurance by Canada Life
An easy and affordable way to help give your family financial security.
Union Savings is proud to offer special group rates for Term Life Insurance underwritten by Canada Life, negotiated on behalf of our more than 900,000 members. If you are between the ages of 18 to 64 you can apply for $50,000 to $250,000 in coverage online.
Life insurance should be an important part of your life, especially if you have bought a home, are married, have children or carry any debt. It's an affordable way to help protect your family from the financial strain if you were to die unexpectedly. For example, a male between the ages of 40 to 44 who doesn't smoke can get $100,000 of coverage for only $15.25 per month†.
Apply online for up to $250,000 in coverage for you and your spouse
You can get approved and covered instantly online
A medical exam is not usually needed to enroll for up to $250,000 in coverage
Coverage continues until you turn 75
For those wanting even greater protection, there is up to $750,000 in coverage for members and their spouses. To apply for more than $250,000 in coverage, call Canada Life directly at 1-855-849-9948.
If you are diagnosed with a terminal illness, you can receive up to $50,000 immediately and use the money any way you want††.
Term Life Insurance
Life insurance coverage is available to both you and your spouse and you can both apply at the same time for greater convenience.
For more information or to apply, please verify your Union Savings membership
†Plus applicable taxes.
††Terminal illness is defined as having a life expectancy of less than 12 months and not expected to live beyond age 75 as diagnosed by a licensed medical practitioner in Canada.
The Union Savings Term Life Insurance Plan is group insurance coverage underwritten by The Canada Life Assurance Company. Premium amounts will vary according to level of coverage amount, age, gender and smoking categories chosen. Eligibility age is 18-64 years old. Coverage terminates at age 75. Coverage reduces by 10% of the original amount per year starting at age 66. Complete details of coverage, including any limitations or exclusions that may apply, are set out in the Certificate of Insurance provided on enrollment. Please read it carefully and keep it in a safe place.
™Canada Life and design are trademarks of The Canada Life Assurance Company.