How the main options differ on price, underwriting speed and features — for an example profile (35-year-old female, non-smoker, $500,000 Term 20). Personalise it.
Breakdown
| Feature | Instant / no-exam term | Fully underwritten term | Convertible term + riders |
|---|---|---|---|
| Estimated price | $26.22/mo | $22.79/mo | $27.44/mo |
| Underwriting | Health questions + database checks | Full underwriting (1–4 weeks) | Full underwriting |
| Core benefit | Online application in ~10–20 minutes | Usually the lowest premium if you are healthy | Convert to permanent coverage without new medicals |
| Key feature | Decision in minutes to days for eligible applicants | Highest coverage limits | Add child, waiver-of-premium or CI riders |
| Watch out for | No needles or nurse visit | Medical exam may be required at higher amounts | Strong insurer financial strength |
| Ready? | Start | Start | Start |
Estimates are indicative ranges based on typical Canadian pricing for the example profile shown. They are not an offer of insurance. A licensed advisor confirms actual insurer quotes.
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Comparisons use Instasure’s pricing model and published product features. Insurers can’t pay to change rankings. Read our editorial guidelines and how we make money.
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